The banking sector in Nigeria is one of highest paying
sector as far as salaries are concerned. What banks pay their workers however
differs from bank to bank. This is partly due to the fact that there are no
particular regulations that stipulate what private organisations should pay
their workers. Also, the financial strength, customer base and performance of
the bank are other factors responsible for how much a bank pays.
Here is what some banks pay their staff in Nigeria.
1. Zenith Bank
Zenith bank which is regarded as one of the most stable and
reliable banks in Nigeria as of today pays its entry level staff about N110,000
(One hundred and ten thousand) monthly, which comes to about N1,320,000 (One
million, three hundred and twenty thousand Naira) per annum. This is reasonably
good enough for young graduates who know what they are doing. Suffice to say
that this payment subsists only for the probation period of about a year, after
which the salary increases.
2. First Bank
As the name implies, First Bank is seen by many as the
strongest bank in Nigeria and the bank has many achievements to prove this
point. First Bank’s pay for its entry level staff goes between N90,000 to
N110,000 monthly depending on department or unit. And this increases with
confirmation and as you grow in rank within the system. Though FBN is the
oldest bank in Nigeria, many people still prefer to work there because they
believe that the chances of job security here are higher than some new
generation banks.
3. GTBank
GTB stands as the bank of the masses, yet maintaining a very
positive and professional outlook. GTB pays her staff at entry level the sum of
N209,000 per month after confirmation, which makes it one of the highest paying
banks in Nigeria.
4. Skye Bank
Skye Bank is also one of the oldest banking institutions in
Nigeria, considering their antecedents. Skye Bank uses age 24 as the benchmark
for entry level employees and pays N2.7 million per annum after confirmation.
5. Fidelity Bank
Fidelity is one of the new generation banks, but has done
quite well within a short period of its existence. The bank started as a
Mortgage bank in 1988 and converted to a commercial bank in 1990. On the salary
scale, it is doing pretty well too for its staff. Fidelity pays about N140,000
monthly at entry level, an amount many young graduates will agree is good
enough to start planning life with in Nigeria.
6. Central Bank of Nigeria
It is also good to know what the apex bank pay its staff.
CBN does one month training for its new intakes and pays N122,000 per month
afterwards. This is aside the many mouth-watering allowances. Many industry
watchers say CBN is the master when it comes to allowances. So what is lacking
in actual salary is made up for in allowances.
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