The Real Truth about Naija Banks Salaries!

[NKONYEMA]

Hello All,

Enjoy reading….


At times when u guys pass comments on bank's pay, u tend to make me laugh.
I am working in one of the banks, my bank is not in the top five yet but in the top ten.
Do not be deceived with all those paper pays and apart from that, HR policies of each of the banks differs

If you say Bank PHB is the highest paying you make me laugh. See they will just tell u the good part of it, they are leaving out the negatives.
Do you know that in the same Bank PHB, you only earn the percentage of the branch target that was met for that month? If you branch makes 75% in target and profitability, then you are going to earn 75% of your salary, be it business developers (marketers) or support guys (operations).

Entry level for 1ST BANK is 104k and it is a less stressful place to work. this is because they have cheap funds ---- monies of our great grandfathers who are dead & we are not even aware of (ie monies of the deads).The amalgamation of this funds over the decade makes 1st bank a big bank, thereby putting less stress on their biz developers. they are really being proactive and dynamic nowadays.

As for INTERCONTINENTAL BANK, nice pay but unsecured work. Don't be surprised if you get to work tomorrow morning and find that your colleague is under suspension for what could be treated as minor issues in other places. Sincerely, I don't know how their staff still manage to put up a SMILE despite the uncertainties that surrounds them.

Zenith pay is quite small at entry level but they usually promote across board unlike other places where promotion is based on performance. Zenith promotes you for your effort and also promotes at times for you to be geared to be like top performers though you're not performing very well. if you really want to learn the ethics and basics of banking, it is not the best place to start for a marketer because you will not know more than how to generate deposit. The other aspects of banking ie risk assets generation (credit packaging) will be virtually nil. It is a nice place to be with good and strong corporate image. They have a sound IT in place and their staff are proud of their Bank.

GT Bank is a very classy place to work. My problem with them, they have quite a sizeable number of contract staff as support. Their PS is cool too and your promotion is rest assured. Their staff are very distinct. Their staff are very proud of their bank too.

OCEANIC pays well too. It is roughly 90k at the beginning for 6months, before you are upgraded from PIT to AO and you start earning up to 156k in a month. I heard they also pay 87k as quarterly pay for entry level.
It is a bank that needs to pay more attention to the quality of staff they recruit, as well as their IT. More often than not, they are always having FINACLE DOWN TIME. At times the quality of staff recruited is a reflection of the organization. I tend to wonder if some of them tipped HR to be employed or maybe the people that are recruiting are recruiting people like them.

FCMB is a place I will rather advise entry level guys to start from because they will learn more within a short period of time. After acquiring the knowledge here, the sky is not even the limit again. Entry level is 160k per month before confirmation. Immediately you are confirmed, your monthly pay drops to 87k but the remaining part is paid as quarterly pay every three months. This is usually up to 220k. You also have access to 80k line of medical services. They have a superb IT  facility and their staff are highly knowledgeable. My problem with FCMB is their staff. They are usually not proud of their workplace and they have every cause to be though they have NICE T-SHIRT, ADVERT, PRODUCT, building. I love their lapel pin.

STANBIC IBTC is a lovely place to work too. entry level is up to 150k. It is another place I will recommend to starters to begin from because they will learn a lot from here. Their staff are cool.

Skye Bank -- entry level is 130k (not too sure). I heard they have a lot of contract staff too. I had an unpleasant experience wit some of their marketers last week and I promised myself if those are the caliber of people working in Skye, I will never work for them. They have a very good advert that won them into the hearts of Nigerians. I thought they dropped their standard wit that NEW HAKUNA MATATA ADVERT. They also need to improve their IT.

ACCESS BANK place a lot of emphasis on the quality they recruit. Though they have contract staff too, they all look well paid. Entry level is up to 120k. So I heard o.

ETB -- heard they pay well, but it is a one-man business that is not quoted on the stock market floor.

I don't know much about the following. ------ Fidelity, Eco, Unity, First Inland, Union


Be that as it may, banking sector is still one of the best place to work. It makes you couth and respected. You also meet people you would never have dreamt of meeting. In terms of pay, the Oil boys may be ahead initially but the problem is that they hardly get promoted unlike a banker that can become a BM within 4-5years whereas your friend in the oil sector is just about getting his 1st promotion and a time is coming when money might not be important again but positions. that is why you see people introducing themselves as Head of this and that while your friend in the oil industry is still saying yes sir to the same Oga he has been saying it to for 5 years.

Truly speaking, the best thing you can do for yourself is to be self employed.

I have read about bankers and I just can not help laughing at times. Banking is not all about marketing and begging for money. There are other technical depts. --- financial control, treasury, credit admin etc.

You never know how far until you're in the system. 

 

"I will do my PART to delight our customers,Have you done yours?

HAPPY CUSTOMER HAPPY BANK.

 

[BUGEOFF]

This is lovely. I commend your effort on this research. Keep it up man. As for the oil/gas, I think where they have edge is the exposure outside the shores of the country/continent. Man, those guys are high flyers when it comes to life offshore.
The main challenge is the black and white thing. They may pay well but I saw many of them complaining about the job satisfaction. The expatriates are not ready to transfer the knowledge, of course if Nigerians can do the job, they have to leave.
kudos

[KingSamzy]

Nice write up. Keep us posted on issues relating to reality.

Once more thankssssssssss a million for these exposition

[KabiyesiAnabolic]

Good and intresting package,...lot of thanks to the source. I guess oil remain the money pool more for guys who wish to work a while to really gather some initial capital for self employement.

[lanreolawepo]

thats cool

[Schelube]

thats lovelyi reallyenjoyedthe stuff.

[BUGEOFF]

Absolutely true, but the higher you go the more tempting it to remain there. Guys, you need to stay close and see for yourself. Another thing I also observed about the industry is infrastructure, excellent. PHCH or no PHCN; NITEL or no NITEL. You have unlimited access to very fast internet services. Its wonderful.
I think the expatriates will respect you more if you already have experience. Generally, promotion is faster if you have had experince somewhere cos most of their jobs are done by contractors. Their staff are mainly Project Managers, i.e. they manage the contractors.

[generalphck70]

guy,u made a lot of sense with this  msg.tanx man

[efkayrulz]

Tnkx bro u just made my day, ignorance they say is a disease!

[OLORUNSOLA]

u av done a real job man, kip it up

[ADEOYE J TOPE]

my guy i love ur intellect expression honestly i raise my tumb for u cudos

[ucheijeh]

the banking industry pays well but the stress is much. who wants to spend his whole working life working without relaxing? and there something about bankres that make you feel as if you no know wetin dey if you ain't a banker. I'm an engineer and one day the banks will come to me for my services.
but have fun in whatever profession you find yourself.
cheers

[bimby]

Thanks for the enlightement

[Emmanuel2010]

this is a real good job 10ks for the seaching keep going up guy..

[mountzion]

thanks alot. that was a very good write up and research. Its really good. Pls can u get the salary structure for Fidelity and First inland bank? I will greatly appreciate it. Thanks.

[lekelexy]

woo, Wat a great and interesting writeup above. its really nice and encouraging. keep it up bro. don't stop on this alone. kip us posted on similar issues and more.

[jayceenj]

That was a wonderful eye opener to some of us. I really commend your effort for that well researched write up. Keep the flag flying. God bless you.

[ifynto]

nice write up bro

[jayceebaby]

Thanks for that well researched write up. Keep it up. God bless you

[louisaluv]

u're blessed 4 dat write up.cudos 2 u,pls get us posted on more inflow.d lord is ur strenght.u 3 much.

[NKONYEMA]

hi house
glad u guys enjoyed the write up
got it from a friend and decided to share
as one of us was in a sorta dilemma.
and im a girl not a guy.lol

[importer]

Nice write up, but i have idea for Fidelity coz one of the ED is from my town and has given a cousin of mine job there 2weeks back.Their entry level is 120k.

[OMONEKHAI]

10ks.

[chibutextome]

God  bless ur day Nkonyema,tnx 4  dis ur wounderful  did plz do not  relent on dis ,try kip us  alart in all new  experinces.But y is it a problem 4 banks 2 recurit OND holders?

[deewizzle]

pls what of entry level for first inland bank? thanks

[dadal]

 Good Job ,MY friend ,Good job.Pls Keep it coming.

[lekeplazm]

thats good to know ok.

[okenov]

Until now I had missed feelings about the banking sector and even said to myself that it will be the last place for me to consider working, but now that I have seen this it's all changed that.

Thanks man!

[dennisbee2002]

thanks for the exposition. I really learned from it.  Pls I heard that UBA is the poorest paid bank. Is that true?  louisaluv...HI

[olutayoomirin]

Oh Boy! I dont know Banks pay this high OOH. I used to argue with a friend. very unfortunate that I hate banking job, I would have dropped my current job for banking job. its all well we will catch up.

[shichet]

Hi, IBPLC pays 100 grant now for ETs now. You better prepare you mind if you are an Intercontinental Bank hopeful.

[Cisqo]

But bros why come dey vex for banks like that , you no know say like say other sections of the economy has been as active as the banks , the problem of unemployment would not have been as bad as that in this country. In fact if I where you I would have encouraged them instead of discouraging or Bros you no see the sense . Or a bey just try and see the GOOD Part not always the bad part. Unless sey you apply and they never still call even at that just try your best i Go still work never give up

[Janetotse]

Big up Girl!!!!   

Nkonyema, a very good one there. Keep the flag flying....
[i]
1luv!![/i]

[uzeezi]

MO  INK 2 YOUR PEN OR YOUR YOUR RIBBON MEN. YOUR EXPOSE IS QUITE INCISIVE AND ENLIGHTENING 4 US JOB SEEKERS. WITHOUT SOUNDING LIKE AN OLIVER TWIST WE WOULD REALLY APPRECIATE MORE OF REPORTS LIKE THIS, GOD BLESS U

[smile4odee]

that was cool,i reaiiy learnt something. still praying for a banking job cos i have passion 4 it. luv u

[sicsic]

what is diamond bank like?pleaseeeeeeeeeeeeeeeeeeeeeee

[nichoiscool]

hello Nkon,i appreciatiate ur effort of going the extra mile of getting this couple of information for in-house members and may the good lord continue to sustain and aid ur memory.Amen.thanks so much and keep the information rolling.