The way our economy is going, we have hundreds of thousands of graduates pumping out every year from our tertiary institutions, and not enough jobs to absorb even 1/10 of them! There is a lot of unfair competition and frustration out there in the labor market.
People are being driven to the extreme of depression and many are falling for the EASIER WAYS, just to survive. Very few people are being given the opportunity to show their talents.
Some other people do not bother to put themselves through the hell of job hunting, they set up something from scratch, and sometimes, a few manage to grow theirs into an enviable business empire.
One of our editors came across this analysis by an expert, is it worth it slaving for salary? Is there a chance to make it by starting one’s own business?
Let’s find out below!
*Monthly Salary Review*
Your boss pays you #30,000 per month.
Now let’s assume that you decided to save all without touching a dime, it would take you 36 months (156 weeks) to make # 1million.
(Did I hear you say 3years?)
On the other hand, if you can convince an organisation like Dangote Cement Group to print and supply 5,000 umbrellas to them (to be used as souvenirs) and you make just N200 profit per umbrella, in just one day you must have made # 1million.
What about becoming a billionaire, that is where it gets crazy!
Now, as a senior man, you receive #1,000,000 per month and you decide to save all without touching a dime. In a year, you must have saved # 12million. It would take about 84 years before you can make # 1billion. (Please subtract your current age).
On the other hand, Nigeria has a population of about 200 million people, If you can supply salt to just 12million people once in a month and you make just N200 from each person supplied, in one year, you must have made N2.9billion.
*This shows that to become rich, you have to stop talking to bosses and start talking to clients*.
Divide your SALARY by 30 days and see what you get (i.e. the number of days in a month and see the funny thing about your salary plan).
(1) An average level-12 worker in the state government civil service earns # 60,000.
**** And this translates to #60,000÷30= # 2,000 every day. This is LESS THAN the amount made daily by an AVERAGE HAWKER (Bread seller) in the city.
(2) A freshly EMPLOYED GRADUATE BANKER in most NIGERIAN BANKS earns an average of #120,000 monthly.
***So everyday, you get banking #120,000÷30= #4,000 as the daily value for your work-life. By implication, this is LESS THAN the amount earned DAILY by an AVERAGE 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 #300,000 monthly. So in a day your WORK-VALUE is #300,000 ÷ 30= #10,000
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.
———>>>HOPE BY NOW, IT IS SINKING IN, RIGHT?
And when there is an ISSUE in the FAMILY that requires FINANCIAL ASSISTANCE, the DRIVERS, HAWKERS and the rest are looking up to you with a WHITE COLLAR JOB.
We must wake up and be more productive. We should be more proactive, create room for more income and strive to diversify our streams of income.
Someone right now will say this analysis is too ideal to be true but take your time and do it, you will grasp the crux!!!
STOP waiting for the Government or your employer to feed you, feed yourself and help the Government / Employer feed others. That is where we are in this age….
*Dr Laide Okubena*
So dear reader, did any of this make sense? Time to put on your thinking cap. Make a choice that best suits you.
All the best!