The banking sector is perhaps the second best paying sector after the oil and gas sector. This is one reason an ever increasing number of young people want to work in the bank.
It is a generally known fact that banks pay well. However, some banks are known to pay better than others at entry level. It is important to have a knowledge of the best paying banks in Nigeria if you have any plans of working in the banking sector.
The best paying banks in Nigeria are;
Zenith bank is considered one of Nigeria’s most trust worthy banks. It is consistently maintained this great image for over a decade. Zenith bank was not set up to meet the banking needs of the average Nigerian. It was established to meet the banking needs of the Nigerian elite class.
At entry level, bankers at Zenith bank earn a monthly salary of about N110, 000. This amount might not seem very juicy when compared to what is obtainable in other sectors such as oil and gas. However, in the banking sector, this is considered good for a start.
First Bank of Nigeria
First Bank of Nigeria is Nigeria’s oldest bank. It was founded in 1948 to meet the banking needs of both the rich, the middle class and the poor. It is undisputedly Nigeria’s most stable bank. Although, not absolutely everyone sees it as Nigeria’s most stable bank, Fist bank has really lasted the test of time in Nigeria. It is the only Nigerian bank that has remained strong for over three decades.
At first bank, newly employed workers are paid a monthly salary of between N90, 000 to N100, 000. Coupled with the job security obtainable in this bank, this is definitely a good salary.
Guarantee Trust Bank
Popularly known as Gt Bank, Guarantee trust bank is Nigeria’s strongest new generation bank. This bank has been in the limelight for a little over a decade. However, its achievements appear to surpass those of banks that have been on long before it came into the picture.
Guarantee trust bank has carved a niche for itself in the world of internet banking. This is one reason it is a very successful bank.
Fresh workers at GT Bank earn a monthly salary of N209, 000.
Popular for its very captivating adverts on television, Skye bank is one of Nigeria’s most famous even though it is not one of the oldest. Skye bank was established in 2006 to offer banking and financial services to members of the public.
With its head office at no3, Akin Adesola street, Victoria Island, Lagos, Skye bank has survive lots of challenges faced by institutions in the banking sector of Nigeria.
Workers at Skye bank earn an annual salary of N 2.7 million. This usually comes after confirmation.
This bank was established in 1988. Prior to becoming a commercial bank in 1990, Fidelity bank was a mortgage bank. Fidelity bank is not one of Nigeria’s most famous banks. It is considered an average bank on almost every ground.
Although Fidelity bank might not be considered one of Nigeria’s most trusted banks, it enjoys a fair share of patronage from the Nigerian populace.
Newly employed workers at Fidelity bank Plc. earn a monthly salary of N148, 000. This amount is definely a very good one for young graduates in the banking sector.
Central Bank of Nigeria
The central bank of Nigeria is the apex bank in Nigeria. It is the institution with the authority and responsibility of governing other banks in Nigeria.
The central bank of Nigeria was established in 1958 to promote monetary stability, a perfect financial environment, to maintain Nigeria’s external reserve and to advice the federal government of Nigeria on external matters.
After a few weeks of training newly employed workers, the Central bank of Nigeria pays them N 122,000. This monthly salary is in addition to numerous allowances enjoyed by workers of the federal bank of Nigeria.
United Bank for Africa
The United bank for Africa popularly known as UBA bank is one of the old Nigerian banks that has remained relevant till today. This bank was established in 1949 and has branches in about 19 countries across Africa. The United bank for Africa alongside first bank of Nigeria and Zenith bank are considered one of the most reliable banks in Nigeria.
Workers at entry level in the United Bank for Africa earn an annual salary of N1.5 million.
Ecobank was established in 1985. It is one of the Nigerian banks that has lasted the test of time. Just like the United Bank for Africa, Eco bank is not restricted to Nigeria alone. It is a Pan-African bank and has over 1000 branches in about 32 African countries.
Prior to the acquisition of Oceanic bank by Eco bank, Eco bank was considered was considered an average bank. However, today the profile of this bank has surely risen up the ladder.
Worker at Ecobank are paid well with newly employed workers earning a monthly salary of N141, 000.
Sterling bank is not considered one of the strongest banks in Nigeria. This bank was birthed in January, 2006. This occurred when four banks namely; Magnum Bank, NBM Bank, Trust Bank of Africa and Indo-Nigerian Merchant bank merged.
Since it started existing, Sterling bank has never been merged and has grown stronger with each passing year.
If you are a new worker at Sterling bank, then you should expect a monthly salary of about N145, 000 monthly.
With its head office in Lagos, Diamond bank is surely one of the strongest banks in Nigeria. This bank was founded in 1991. Since then, it has gone on to become one of the most reliable banks in Nigeria.
Since its inception, Diamond bank is one of the few Nigerian banks that has continued to operate smoothly and comfortably without being merged or undergoing acquisition.
Diamond bank is Nigeria’s highest paying bank at entry level. New workers at this bank earn a monthly salary of N243, 000. This is in addition to other benefits.
Apart from the basic amount every bank has budgeted for payment of new workers, the amount earned by each worker is also dependent on the bargaining ability of each worker.