Topic: The Real Truth about Naija Banks Salaries!

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.

Thanks for the enlightement