Latest findings from the Nigerian Graduates Report, a study by Stutern has revealed widespread under-compensation of Nigeria graduates at local companies. The study also revealed that the majority of graduates are not studying courses that would make them employable in the country.
According to the survey, 60% of new graduates earn less ₦50,000 ($139) as a first job monthly salary. A deeper look revealed that 1 in 5 graduates earn below ₦20,000 as a first job monthly salary. Less than 3% earn ₦200,000 and above.
Graduates employability has been a major conversation among employers of labor in the country. The study revealed that graduates from Covenant University are the most employable graduates in the country. The University of Ilorin ranks as the top University in terms of return on investment based on salary earned and tuition paid.
During the research, graduates were asked, “Which employer do you think offers the best opportunities for graduates in Nigeria?”. KPMG ranked first among the top 20 graduates employers in the country. Majority of respondents based their decision on impression formed from talking to people who have worked at these companies or still work there.
More than 50% of graduates disclosed that communications skill (written and spoken), as well as knowledge of the skill they studied, are the two least skills their academic education prepared them with. You can download the full report using this link here.