MTN Nigeria, the country’s largest telecom operator, has set a new standard in employee compensation, offering some of the highest salaries in the industry. Of its 1,809 employees, 1,514 earn at least ₦1 million monthly, a figure that rivals like Globacom and 9mobile struggle to match. Even the lowest-paid employee earns an average of ₦458,333 per month, well above Nigeria’s minimum wage.
Unlike other telecom firms that tie salary increments to performance, MTN conducts annual reviews irrespective of economic conditions. This policy led to a 59.5% increase in its wage bill in 2024, rising from ₦42.7 billion to ₦71.7 billion.
The telecom sector is rapidly expanding, creating a demand for skilled professionals in areas such as network engineering, cybersecurity, and software development. However, salary structures vary widely. Airtel Nigeria links raises to performance, while Globacom’s increments are at the discretion of its chairman. Reports indicate that some customer service employees at Globacom earn as little as ₦147,000 per month—far below MTN’s pay scale.
MTN’s compensation strategy is both a talent retention tool and a long-term investment. The company approves salary adjustments at its Annual General Meeting (AGM) in May and implements them in April, ensuring employees’ earnings keep pace with inflation.
Competitors face challenges in matching MTN’s pay amid rising market pressures and profitability concerns. In an industry where professionals frequently upskill or transition to adjacent fields, retaining top talent remains a key issue.
“MTN Nigeria’s salary structure allows it to attract and keep the best professionals, reinforcing its market leadership,” said telecom executive Ladi Okuneye.
While the company’s approach strengthens its workforce, the long-term sustainability of this salary model will test MTN’s financial strategy in the evolving telecom landscape.
Credit: TechCabal (Text Excluding Headline)
