From $150/month to $2,500/month in four years.
Issue #79
How to upyour income
Greetings ET people 🖖🏾
It’s probably advisable not to talk to Nigerians about scams and get-rich-quick schemes given how much they’ve been through with MMM, NNU, Racsterli, and [fill in the blanks].
But we have to admit: the “PH—GH scams” were among the most ridiculous in the pyramid scheme boom. To the uninitiated, the way it works is that you send money to a money-doubler (what they do with it is likely not your business), sit pretty for a few hours, and wait, and you receive double your investment amount.
Nigerians have lost ₦500 billion ($299 million) to scams in the last decade, and today, the country still ranks as one of the most affected when it comes to investment scams.
With tech testimonies flying around social media about people ‘hitting it big’ in tech, we wonder if the large tech migration is due to an inherent get-rich-quick syndrome.
But is tech just an “investment vehicle” where you put in the time (PH) with the hope of cashing out (GH) and living the high life?
We brought six high-earners to answer what it takes to make it big in tech. Spoiler: it’s not a skill issue.
Faith Omoniyi, Emmanuel Nwosu & Timi Odueso
Can you get rich quick in tech?
Show of hands if tech is genuinely only a way out of the trenches for you.
Don’t be shy.
Working in tech has given us the opportunity to throw around cool words and phrases like “impact” and “making a change”, but there are people who are truly standing on business.
One of them is our first guest, Kemi*, 29, who works as a tech marketing lead. She entered tech for the money.
“I came in because I wanted the money. But two truths can co-exist but you have to get that money by exchanging value.”
It took Kemi six years to get to where she’s at now.
Our second guest, James*, 22, is a content marketer earning $2,500 per month. He believes tech is a get-rich-quick scheme—but it’s relative.
“‘Quick’ is a relative term in the get-rich-quick context because if you consider the time you’d take to go from point A to point B in tech, versus other parallel professions like education or medicine, tech is the quickest.”
“If you compare how long it would take a lecturer to go from ₦100,000 ($60) to ₦1 million ($591) versus someone in tech, tech is shorter; with 2–3 years of active hard work, you could manage to get yourself in opportunities where you have a clear pathway to [quicker] upward mobility.”
But when the conversation changes to how quickly you can “make it” in tech, get-rich-quick no longer becomes a fair assessment of the tech economy. It takes time—but less time than in most traditional professions.
It took James five years to earn $2,500 in tech, but he admits that some people may take shorter to reach that number or higher. But here’s a chart on how he’s done over the past four years.
Pre-2022: $150–$200/month ($400 on really good months)
Early 2022: $500/month job
Late 2022: $1,500/month (working 2 jobs)
2023: $2,000/month
2024: $2,500/month
*Newsletter continues after break
Are you stuck in your career?
Are you planning to transition into tech, high-paying business analysis roles and land remote opportunities? The Business Analysis Summit 2024 is your chance to achieve that. Join Eno Eka, renowned business analysis coach, as she reveals how to make that transition and position yourself for global opportunities. This summit is for you if you’re just starting or looking to level up your career. Find out more here.
The long haul
Tony* (not Stark), who earns between ₦1 million and ₦3 million monthly, says it takes a mix of unique skills. He says his rare ability to write, design, and animate created a very niche design industry for him to own.
“I started designing five years ago; professionally, I have 4 years of experience. Design was something I was just curious about, until eventually, poverty struck, and design was the only thing I had,” said Tony.
How you make it in the tech industry will depend on both the factors you can control and the ones you cannot control.
Otis*, a product designer with four years of experience, earns between $6,000 and $9,000 per month.
“The game changer for my tech career was being recognised by the owner of Figma, Dylan Field, in 2022. He spotlighted myself and 29 other designers from all over the world.
Otis contributed, along with his friends, to a Figma design resource that has received recognition in the design community. While that changed his career for good, it was competence that kept him in it, he says.
2021: $10,000/year
2022: $35,000-$50,000/year
2023: $40,000-$60,000/year
2024: $25,000/year
“I don’t earn as much as I used to, because the industries I built my skills around—fintech, web3 and real estate—have taken a hit over the years and my income with it. My income doesn’t entirely go into my pockets because I work with other designers on projects,” said Otis.
Patience + Luck + Skill = Profit
Johnny*, a customer success engineer, earns between $1,000 and $3,000 every month. He says he showed his work a lot online, and one day, he got a referral.
And Kingsley*, a content marketing manager with six years of working experience, says you need luck and patience more than skill to make big tech money. Today, he earns $2,500 per month.
“Before joining tech, I believed that success would come easily if you simply put in the work. However, experience has taught me that it’s not that simple. To succeed in this industry, you need a great deal of patience, perseverance, and even some luck,” said Kingsley.
2018: ₦20,000/month
2019: ₦160,000/month
2021: $1,500 + ₦360,000/month (managing a foreign and Nigerian job)
2022: ₦600,000/month
2023: laid off
January to March 2024: ₦220,000
2024: $2,500 + £5,500 (in contract job)
In the tech hustle, standing out is also key. Kemi credits her success to the personal brand and positioning she built on social media.
“My personal brand has worked for me. I am very loud about my work online, and quite popular on LinkedIn. I got my current role because somebody reached out to me on LinkedIn.”
James, on the other hand, found success by knowing and negotiating his worth. At a point in his career, he was willing to walk away from jobs that didn’t pay commensurate with the skill the role demanded.
“I realised I could ask for more. For most of my career, all I needed was to not starve in school, so I was more likely to accept chicken-change jobs. Over time, I started growing in confidence [in my skill] and I was willing to take on risks.”
What do these six techies have in common? They understood that tech success isn’t instant—it’s about working hard, creating value, and negotiating your worth.
But even then, it’s not a guaranteed shortcut to wealth. It takes time, effort, and sometimes a bit of luck—creating your own luck—to earn big in tech.
2019: ₦150,000/month
2021: ₦250,000/month
2022: ₦350,000/month
2023: ₦500,000/month
2024: ₦1,000,000/month
*Newsletter continues after break
Are you stuck in your career?
Are you planning to transition into tech, high-paying business analysis roles and land remote opportunities? The Business Analysis Summit 2024 is your chance to achieve that. Join Eno Eka, renowned business analysis coach, as she reveals how to make that transition and position yourself for global opportunities. This summit is for you if you’re just starting or looking to level up your career. Find out more here.
No one is crazy
On the surface, tech can look like a shortcut to escape the trenches. But the reality is that building a successful career in the industry is hard work, and it’s certainly not a get-rich-quick scheme.
“Tech is not magic. You have to climb your way through,” said Kemi who earns ₦1 million monthly.
Unlike industries like banking where salary growth follows a clear structure, tech offers a wide-open playing field.
“The industry is not regulated, so there’s no cap to what you can earn. In banking, you get promoted and know what your new salary will be. But in tech, you could have the same role as someone at another company, and they might be earning more. That’s where you get to negotiate your worth.”
The path to success isn’t the same for everyone. Your industry and employer will also play a key part in how soon you can reach your financial goals.
“Nobody’s journey is realistic—let’s be honest. Some people win rapidly in tech, but it’s all about what you put in. If you want a job in five months, you have to work for it. The market will stress-test you,” says Tony.
“The last time I was unemployed, it took me four months to get a job. And I was sending 3 applications every day,” James said.
The final piece of advice from James is to create your own luck. “The best thing to do is to expand the surface area for you to be lucky. Play the volume game—show up in as many places as possible. The more applications you send out, the higher your chances of getting lucky.”
So, yes, tech can be rewarding, but it requires patience, persistence, and the willingness to put in the effort to earn high incomes like Kemi, James, and Tony.
It’s about showing up, making your own opportunities, and not approaching it as a PH – GH scam.
After asking six techies how to earn decently in the tech space and absorbing their wisdom, these are the common themes:
While it is not a get-rich-quick scheme, It’s not bad to be in tech for the money; own your truth.
Lock in; “upskill” is a tired word, seek mastery.
Be a chill guy; the money will come as you improve.
Take every opportunity to learn.
The introverts hate this one—but talk about your work. A lot.
Create your luck. Where can you apply your skills to build a competitive edge for yourself?
Finally, tech isn’t a zero-sum game. If it doesn’t work out, it doesn’t mean your career or life goals are derailed. There are always other paths to explore, including traditional careers, that can still lead to success and fulfillment.
P.S: Did you like this edition of Entering Tech? Would you like more like this or less? Share your thoughts by responding to this newsletter or sending an email to newsletter@techcabal.com.
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