Highest Paying Banks in Nigeria Today in 2020

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Highest Paying Banks in Nigeria Today in 2020

nigeria banks logo

Some days ago, we published an article on the richest bank in Nigeria and we got lots of reactions from our site’s visitors to publish the highest paying banks in Nigeria today.

The list of the highest paying banks and the amount they pay may come as a surprise to you.

This is because one will expect that the richest banks in Nigeria or the oldest banks in Nigeria should pay the highest but that’s not so.

In fact, you will be surprised by the list of the highest paying banks in Nigeria in 2020.

Though, the richest bank in Nigeria in this first quarter may not be the richest bank by the end of the year.

However, these banks rarely increase their salary. The salary bankers are paid today may also be the salaries they will receive by the end of the year.

Having said the above, I will be listing the top 7 Nigerian banks that pay the highest today:

Top Paying Banks in Nigeria Today

These are the top 3 banks that pay the highest in Nigeria:

  1. Access Bank
  2. Guaranty Trust Bank
  3. First Bank
  4. UBA
  5. Zenith Bank
  6. Ecobank
  7. FCMB

1.) Access Bank Nigeria PLC

Access Bank Logo

How much does Access Bank pay her staffs currently? As at present, Access Bank pay her staffs better than any Nigerian banks. Access Bank is the highest paying bank in Nigeria.

It has a very impressive salary structure for both her junior and senior banking staffs. Also, Access Bank has a staff strength of more than 10, 000 persons in Nigeria presently.

Being among the richest banks in Nigeria with over N4.9 trillion net assets, Access bank pay as much as ₦ 40,000 – ₦ 45,000 for the period of 4 months to her graduate trainees.

However, her entry-level staffs are paid nothing less than #230,000 on a monthly.

Some of Access Bank top officials are paid between #1,500,000 and #3,500,000.

Note: the amount stated above does not contain some welfare packages, bonuses, health care, family, among other allowances given to each staff, depending on their level.

Below is the salary structure of people that works in access bank per month:

  • Graduate Trainee ~ ₦ 40,000 – ₦ 45,000
  • Contract Staff ~ N65,000 – N80 000
  • Executive Trainee ~ N200,000 – N230,000
  • Entry Level Staff ~ N231,000 – N237,000
  • Senior Banking Officers (Managers And Above) ~ N750,000 – 1,000,000
  • Assistant General Manager ~ ₦3,000,000 – ₦3,500,000
  • Managing Director/CEO Salary Structure – ₦3,500,000 And Above.

2.) Guaranty Trust Bank (GTB)

GTB logo

GTBank is being the second highest paying bank in Nigeria is also among the richest banks in Nigeria.

Compare to other banks, GTBank has good customer support.

GTBank may not be the richest bank in Nigeria, but it has one of the best payment salary structures in the banking sector.

An entry-level staff in GTBank is paid over #200,000 monthly and some top officials are paid as much as #500,000 to #2,000,000 in a month.

The salaries above do not include special bonuses and allowances, such as travel allowances, wardrobe allowance, school fees allowance, to mention but a few.

Also, senior banking officers in the bank are eligible for an annual vacation overseas and are permitted to go with their family – all-expense paid.

Here is a quick breakdown of GTBank salary structure per month:

  • IT Students ~ N40,000 To N48,000
  • Entry Level Staff ~ N200,000 To N210,000
  • Management Executive Trainee ~ N220,000 – N245,000
  • Assistant Banking Officers ~ #250,000 To #270,000
  • Banking Officers ~ #350,000 To #400,000
  • Senior Banking Officers ~ #500,000 To #535,000
  • Assistant Managers ~ #600,000 To #653,000
  • Deputy Manager’s ~ #800,000 To #1,400,000
  • Manager ~ N1,600,000 And N1,800,000
  • Branch Managers ~ #1,900,000 To #2,000,000

3.) First Bank of Nigeria (FBN)

First Bank Logo

First Bank of Nigeria as the name implies is one of the oldest banks in Nigeria and has a customer base of more than 10 million.

FBN is also among the richest banks in Nigeria with a net worth of N4.5 trillion.

First Bank of Nigeria is also among the banks that pay the highest to its staff.

It has a salary structure for its staffs, ranging from junior to senior banking officers (SBOs) – the Human resource management team could better improve on it though.

To start with, graduate trainees who are currently under training are paid a sum of #50,000 to #60,000 for the period of 4 months while Entry-level staffs receive #100,000 above salary, and also top staffs such as Loan Officers, Credit Analysts, Bank managers, etc., are paid between #400,000 and #1,200,000 –minus bonuses, allowances and other profit-sharing given to each staff.

Here’s a breakdown of First Bank Nigeria salaries per month:

  • Graduate Trainees ~ N56,000 To 60,000 Naira
  • Entry-Level Staffs ~ N100,000 To N150,000
  • Assistant Banking Officer ~ #145, 000 To N200,000
  • Banking Officer ~ N300,000 To N350,000
  • Senior Banking Officer ~ N410,000 To 540,000 Naira
  • Loan Officers ~ N600,000 To N612,000
  • Credit Analysts ~ N625,000 To N670,000
  • Assistant Manager ~ N500,000 To N600,000
  • Deputy Manager ~ N700,000 To N800,000
  • Manager ~ N920,000 To N950,000
  • Senior Manager ~ N1,000,000 To N1,500,000
  • Assistant General Manager ~ N2,250,000 To N3,000,000
  • Managing Director/Ceo ~ 3, 500 000 And Above.

4.) United Bank for Africa (UBA)

UBA logo

If you have ever been asked when UBA was established, it was established in 1949. UBA is a leading multinational bank headquartered in Lagos, Nigeria.

As at present, UBA is among the richest banks in Nigeria and also amongst the highest paying banks.

UBA pays her entry-level staffs a salary amounting to #130,000 Naira thereabout every month while graduate trainees receive up to #80,000 per month.

This salary does not put into account the bonuses received as well.

Contract staffs are also paid up to #75,000 monthly [they are not eligible for bonuses and allowances though].

See below for a quick breakdown of UBA Salary structure monthly:

  • Entry Level Staffs ~ ₦125,000 To ₦150,000
  • Contract Staff ~ ₦75,000 To ₦80,000
  • Graduate Trainee ~ N 85,000 To 95,000
  • Facility Manager ~ N116, 000 To N121, 000
  • Executive Trainee ~ N135, 000 To N147, 000
  • Account Officers ~ N160,000 To N175,000
  • Relationship Manager/Officer ~ N235, 000 To N305, 000
  • Assistant Banking Officer ~ N328, 000 To N363,000
  • Branch Cluster Manager ~ N700, 000 To N800,000
  • Managing Director/Ceo ~ 2, 400 000 And Above.

5.) Zenith Bank Nigeria {ZBN}

Zenith bank logo

Zenith Bank Plc is among the richest bank in Nigeria and also among the banks that pay the highest in Nigeria.

Though, a lot of persons love the bank because of its smooth services.

However, we are not really concern about the feedbacks by her customers on services rendered, but the salary it pays to her staffs.

Zenith Bank Plc is considered to pay a reasonable salary along with befitting bonuses and allowances to its employees at various levels and releases the entitlement as and when due.

I have met a lot of persons who have argued that Zenith Bank Plc doesn’t pay well. Well, I will let you be the judge of that.

Zenith Bank Plc pays “IT student or Corps member” up to #35,000 monthly while the graduate trainees receive about #45,000.

Entry-level staffs in the bank also rake in nothing less than #110,000, which is still manageable to some extent.

Take a look at the salary Zenith Bank pays her staffs:

  • Graduate Trainees ~ N40,000 To N45,000
  • Contract Staff ~ N50,000 To N60,000
  • Entry Staff ~ N108,000 To N140,000
  • Assistant Banking Officer ~ N180,000 To N290,000
  • Banking Officer ~ N391,000 To N400,000
  • Senior Banking Officer ~ N420,000 To N450,000
  • Loan Officer ~ N500,000 To N560,000
  • Credit Analysts ~ N575,000 N630,000
  • Assistant Manager ~ N650,000 To N702,000
  • Deputy Manager ~ N750 000 To N876,000
  • Senior Manager ~ N900,000 To N1,000,000
  • Branch Manager ~ N1,000,000 To N1,500,000
  • Assistant General Manager ~ N2,100,000 To 2,700,000
  • Managing Director/Ceo ~ 2,700,000 And Above.

6.) Ecobank

Ecobank logo, logotype, blue

Ecobank began operations in 1986, it was at that time known as Universal Bank with main focus in providing services in corporate and investment banking, wholesale, retail, and transaction banking to its customers within and across Africa.

Eco Bank is regarded as a Pan African Bank due to the number of business units it has formed since its establishment.

In fact, Ecobank has the highest number of business units across the African Continent.

However, how much does Eco Bank pays its staffs? This question is frequently asked by fresh graduates who wish to work at Eco Bank. We will answer this question now.

Eco Bank is rated amongst the richest banks in Nigeria and also one of the highest paying banks in Nigeria.

EcoBank has over the years maintained a high salary structure for staff, both junior and senior banking officers (SBOs), thanks to its Human resource management team.

Here is how much their employees make every month:

  • Graduate Trainees ~ ₦40,000 To ₦50,000
  • Entry-Level Staff ~ ₦140,000 To ₦150,000
  • Loan Officers ~ ₦ 500,000 To ₦ 650,000
  • Credit Analysts ~ ₦ 700,000 To ₦ 800,000 Naira
  • Manager ~ N853,000 To ₦ 900,000
  • Senior Manager ~ N1,000,000 To N1,500,000
  • Assistant General Manager ~ N2,000,000 To N2,250,000
  • Managing Director/Ceo ~ N2, 500 000 And Above.

7.) First City Monument Bank

FCMB logo

First City Monument Bank commonly referred to as FCMB is categorized under the term “New Generation Bank” in Nigeria. And FCMB was established on the 20th of April 1982.

First City Monument Bank (FCMB) is a popular bank but they are known to have very few branches in Nationwide, but that is not to discredit the bank’s efficiency and their customer-centric approach and the value they place on their Human resources.

FCMB is among the richest banks in Nigeria and also amongst the highest paying banks. It has a very fine salary structure that makes lots of graduates want to work at FCMB. 

This is the monthly salary of FCMB workers in Nigeria:

  • Graduate Trainees ~ N40,000 To N45,000 Monthly For The 4 Months
  • Entry Level Staffs ~ N110,000 To N125,000
  • Senior Banking Officers ~ N500,000 To N650,000
  • Loan Officers ~ N541,000 To N600,000
  • Credit Analysts ~ N610,000 To N650,000
  • Branch Managers ~ N690,000
  • Senior Banking Officers (Managers And Above) ~ N750,000 – 1,000,000
  • Assistant General Manager ~ ₦1,100,000 – ₦1,600,000
  • Managing Director/Ceo ~ ₦1, 900,000 And Above.

In conclusion:

Out of about 25 commericial financial institutions in Nigeria, here are the top 7 highest paying banks in nigeria along side how much they earn at every level. Let’s know what you think in the comment section below.

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If you have any issue or concerns, kindly comment below and it will be attended to ASAP. However, if you want to discuss with an admin on WhatsApp or Telegram, please visit the Contact US Page. Thank you
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