An Analysis to Show that Your Salary is Not Enough

The Salary Myth

It is a popular belief in the society today that anyone that works in the office or has a white-collar job is more advantaged than the average entrepreneur running a Small and Medium Scale Enterprise.

This explains why many students prefer white collar jobs and University graduates refuse to do the so-called “menial jobs” because it is not befitting of their conceived status and degree.

Little do they know that if they sat down to do the maths, they’ll discover that these entrepreneurs are making a fortune. Perhaps lack of financial intelligence on the part of the entrepreneurs makes it appear as if they are struggling, whereas it is not so.

As a follow-up on my last article on the Concept of Salary, I want to give a detailed comparative analysis of the income of an average salary earner versus that of some people working blue-collar jobs.

The funny thing is that a salary earner is paid once in a month while the entrepreneur earns every day.

See also: How Secure is Your Job?

The Analysis

Now let’s do the maths. Divide your monthly Salary by 30 days and see what you get.

For example,
(1.) An average level-12 worker in the State Government civil service earns N60,000.
**** And this translates to N60,000÷30= N 2,000 every day.

This is far less than the amount made daily by an average Hawker in the city depending on the wares being sold.

(2) A freshly employed graduate Banker in most Nigerian banks earns an average of N120,000 monthly.
***So everyday, you get N120,000÷30 = N4,000 as the daily value for your work-life.

By implication, this is less than the amount earned DAILY by an average TAXI DRIVER in the city and in some villages…..

(3) If you are a fresh graduate EMPLOYEE in some oil companies, you earn an average of N300,000 monthly. ***So in a day your work value is N300,000 ÷ 30 = NGN10,000

This is less than the daily amount earned by an IRRIGATION FARMER supplying vegetables to Lagos markets; a TIPPER CAR DRIVER supplying sand for three block industries and construction sites just 3 times a day; and DRIVERS of Dangote Trucks who have bought off the trucks at scrap value and are using them to convey products between villages and the cities for just five business owners.

(4) If you are an NYSC Member, you DON’T need to be told that your allowance or ‘allawee’ -N19,800÷30 = N660 is your worth on a daily basis.

I hope you know that a PURE WATER SELLER who owns a shop, a pepper soup joint and a small Toyota Corolla car to distribute pure water to five restaurants earns more than you & WHEEL-BARROW PUSHERS working on contract for three warehouses probably make more money than you each day.

And here you are carrying your shoulders up and refusing to acquire useful entrepreneurial skills.

I hope by now, the message is beginning to sink in, right?

See also: Financial Literacy precedes Financial Freedom

The Oddity

Isn’t it rather ironical that whenever there is an issue in the family that requires financial assistance, it is normal for the drivers, hawkers and the rest to look up to you with a white collar job?

Isn’t it absurd that when the salary earner exhausts her salary before month end, she usually goes to the entrepreneur to borrow?

This should cause you to rethink the real value of these overrated white collar jobs.


A remedy for the Salary Earner

If you are a salary earner or an intending a salary earner, you need to wake up and be more productive. Be more proactive, create room for more (passive) income and strive to diversify our streams of income.

The earlier you wake up and smell the coffee, the better for you. Your salary is definitely not enough to sustain you and your family.

Stop waiting for the Government to feed you. Feed yourself and help the Government feed others. That is where we are at this age.

You may say this analysis is too ideal to be true but if you take your time and do it, you will grasp the crux!

Please be generous and share this article with someone you think will need it at this moment. Simply tab on any of the social media buttons below this post.

Are you a Salary Earner or do you know one? Let us know your thoughts about this article in the comments below. I respond to every comment.

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5 thoughts on “An Analysis to Show that Your Salary is Not Enough”

  1. Frederick J.N.Masawi

    Money will never be enough for anyone.Millionaires do not sleep thinking on how to make more more.The ordinary person is afraid to invest for of missing the little they have.Of cause you are right in your advice,but the family is a burden that outweighs everything,especially investing.Africans,we are still new in the financial intelligence arena and it will take many many years for us to awake from the slumber. On the salary earned per day by an individual,if we allocate it according to our daily need,such as food, transport for both wife,father,school children,fees and unforseen expenses, you will be left with 0.-00 your daily basic allocation. Leaving you with barely with nothing to spare and to invest. Most Africans in the developing world,start to work with nothing to lean on. I will stop here for now. Am waiting for your advice on this comment. Thank you.

    1. Frederick,I appreciate your comment.
      I share your concerns about the financial struggles of the typical African family that leaves nothing for investment. I think that is more of a reason why Financial Intelligence is most needed in order for people to learn more about money and overcome their fear of investing.

      It is not very true that money will not be enough for everyone. It’s just that the millionaires that have enough of it know something that the poor don’t know.

      My advice in this regards is for everyone to acquire financial literacy no matter the cost so they could learn how to create a working budget that will guide them on how to spend the little money they have and make room for savings and investment.

      Only then can we hope to subdue our financial struggles.

    2. I will be writing more on how this can be dealt with at the FINTEL Frank Talk Event billed to take place on my Facebook page as from tomorrow 2nd November.

      I want to invite you to participate in the event and invite as many of your friends to same. It is going to be a big one. You can learn more about it via this link:

      Thank you once again for reading the article. Hope to talk again soon.

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