I know most of you are not aware what a Masters holder should earn in Kenya. To be honest, the salary for these graduates is not what people thing out there-it’s so little that most gradates are regretting why in the first place they went to school.
The ideal salary for a masters graduate in Kenya should be Ksh 150,000-Ksh200, 000, according to latest research, but currently a masters degree holder earns an average salary of Ksh 90,000.
Data from all industries show that banking sector does not recognize a masters or PhD qualification; they are only concerned with what an individual brings to the company. In most cases, undergraduate degree holders earn even more than MBA graduates simply because they have more experience than the former.
The only thing that can make a masters degree holder earn more than undergraduate student in banking sector is professionals experience or promotion.
Government institutions recognize academic papers more than any other sector in Kenya. When promotions are advertised, anyone with a masters degree is given more attention than the undergraduate degree holders. Also professional experience matters a lot.The average salary for a masters degree holder in government institution is Ksh 120,000
Insurance companies emphasize more on professional qualifications than masters qualifications. If you have qualification in CFA and Actuarial Science professional papers you are likely to earn more than someone with masters degree.Actuaries in insurance companies earn up to Ksh800,000 while Financial Analysts earn an average salary of Ksh250,000
The worst paying sector is education, where lecturers with masters qualification earn even less than Ksh40,000 per month. Those with permanent contract earn average salary of Ksh 120,000 while the part time lecturers, who possess masters degrees earn average salary of Ksh45,000.
Teachers in secondary and primary schools are the worst paid professionals. Even with a masters qualification you are not guaranteed salary increment. In fact, no high school teacher with a masters degree earns over Ksh 100,000 unless he is a chief principal.
Finally, the only way you can earn what satisfies you is by starting a consulting firm or any other business that you enjoy doing.Otherwise, employment can demoralize you.