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Highest Paying Banks in Nigeria: Nigeria’s banking sector has grown significantly over time and is now a major contributor to the country’s economy. As a result, Nigerian banks provide competitive salaries to their staff. If you are a graduate wishing to work in banking, you should be aware of Nigeria’s highest paying institutions.
This article will present an overview of the qualifications needed to work in a bank, the need for bankers, and the highest-paying banks in Nigeria using current statistics and market trends. Depending on your position at the bank, the figures may vary. However, you can use this information to calculate how much you will be paid in your position.
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What Are the Qualifications for Working as a Banker in Nigeria?
Working in a Nigerian bank requires a bachelor’s degree in finance, economics, accounting, or business.
Nigerian banks hire graduates from a variety of fields who desire to work as entry-level employees in the banking industry. Professional certifications such as ACCA, ICAN, and CFA will provide an advantage.
Furthermore, great communication and interpersonal skills, computer literacy, and attention to detail are required for a banking position.
Availability of Jobs in the Nigerian Banking Sector
The banking sector is one of Nigeria’s largest industries, with a significant demand for banking jobs. The recent growth of the Fintech industry, as well as the growing need for financial services, are likely to drive up demand for competent and experienced bankers.
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Highest Paying Banks in Nigeria 2024
1. Access Bank: Access Bank Group is a financial products and services conglomerate with its headquarters in Nigeria, and subsidiaries in other countries of Africa including the Democratic Republic of the Congo, Ghana, Kenya, Nigeria, Rwanda, The Gambia, Guinea, Cameroon, Sierra Leone, Mozambique, Botswana, South Africa, Zambia, France, and the UK.
To efficiently carry out its global banking operations in Africa and Britain, the bank employs more than 11,000 workers.
Competitive entry-level pay are provided by Access Bank, as a top supplier of banking and financial services, to its staff.
Access Bank offers a full benefits package that includes paid time off, health insurance, and retirement benefits in addition to competitive remuneration. Starting Salary: Between N250,000 and N300,000 a month.
2. First Bank: First Bank was formed in 1894 by Sir Alfred Jones, an English shipping magnate from Liverpool. The Bank, which had its headquarters in Liverpool at first, started out as Bank of British West Africa (BBWA) and operated on a small scale in Lagos, Nigeria.
First Bank Plc has established itself as a widely acknowledged financial institution in Nigeria after many years of operating as a public limited company and providing services to customers throughout the country.
First Bank Plc is dedicated to provide businesses and individuals top-notch banking solutions and financial services.
The company employs over 10,000 people. First Bank Plc provides a decent start off salary for individuals searching for a fulfilling career, together with a substantial benefits package that consists of paid time off, retirement choices, and health insurance. Starting pay at the bank for new hires ranges from N200,000 to N250,000.
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3. Guarantee Trust Bank: Guaranty Trust Holding Company PLC, usually known as GTCO PLC, is a worldwide financial services organisation headquartered in Victoria Island, Lagos, Nigeria. It provides retail and investment banking, pension management, asset management, and payment services.
GTCO Plc was formed in July 2021 as a result of the corporate reorganisation of Guaranty Trust Bank PLC (or GTBank) into a Holding Company. GTCO Plc’s reorganisation means that company will now provide more services besides banking. Its new activities include payments, pension management, asset management, and its current banking operations.
Guarantee Trust Bank (GTB) is Nigeria’s foremost financial institution, noted for its innovative and customer-centric solutions.
With nearly 8,000 employees and 300 branch offices across the country, including Côte d’Ivoire, Kenya, Liberia, Gambia, Ghana, Rwanda, Sierra Leone, Uganda, and the United Kingdom. Entry-level employees at GTB can anticipate not only competitive compensation, but also a complete benefits package that includes health insurance, retirement plans, and paid time off. The bank prioritises employee development and provides numerous chances for professional development and career promotion. Entry-level salary: N200,000 per month.
4. Zenith Bank Plc: In May 1990, Jim Ovia created Zenith Bank Plc. Zenith Bank is a forward-thinking financial company leading the way in Nigerian innovative banking products. It boasts 500 outlets nationwide and more than 15,000 staff. Competitive entry-level pay and a full benefits package, including paid time off, retirement benefits, and health insurance, are provided by Zenith Bank Plc to individuals looking for a robust and fulfilling career.
The bank offers chances for professional growth and career promotion since it values employee development. Salary Range for Entry Level: N180,000 to N200,000 per month.
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5. Fidelity Bank Plc: Fidelity Bank Plc was voted Nigeria’s “2022 Best SME Bank” at the Annual Global Banking & Finance Awards held in London, UK. Fidelity Bank has over 250 facilities and 5,000 employees nationwide, and it is dedicated to providing creative, client-focused banking solutions.
A progressive company, Fidelity Bank offers competitive entry-level pay in addition to a full benefits package which incorporates health insurance, paid time off, and retirement benefits.
Since professional growth for employees is highly valued by the bank, opportunities for career advancement and professional development are provided. Thus, N180,000 is the base monthly entry-level wage.
6. United Bank for Africa: Leading financial company in Africa, United Bank for Africa (UBA) is dedicated to enabling Africans via cutting-edge financial solutions. Having more than 10,000 workers and a network of more than 700 branches across 20 African nations, France, the United States, the United Kingdom, and the United Arab Emirates.
UBA is a viable alternative for a recent graduate looking to work in the banking sector. Entry-level workers at UBA may anticipate competitive pay along with a full range of benefits, such as paid time off, retirement benefits, and health insurance. Starting Salary: Between N150,000 and N180,000 a month.
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7. Sterling Bank Plc: Sterling Bank Limited is a commercial bank licensed by the apex bank, CBN, to carry on banking operations throughout the country. The bank provides numerous banking and financial services to diverse categories of customers. From private customers to business organizations–both large and small entities.
One thing that stands out about Sterling Bank is how the bank has established a reputation for being a trustworthy alternative for traditional banking.
According to World Finance, Sterling Bank Plc is the “Most Innovative Bank.” Sterling Bank, which has more than 200 branches and over 4,000 staff, is dedicated to promoting financial inclusion and client empowerment.
Since Sterling Bank values its workers as employees, it provides possibilities for professional growth and career promotion, competitive entry-level compensation, and extensive benefits. Monthly Salary at Entry Level: N145,000.
8. Ecobank Nigeria: Ecobank is a well-known pan-African banking conglomerate with operations in 33 African nations. Its official name is Ecobank Transnational Inc. (ETI).
It is the top independent regional banking company for both retail and wholesale clients in West and Central Africa, with subsidiaries in Eastern and Southern Africa. In addition to representative offices in China, Dubai, South Africa, and the UK, ETI maintains an of in France.
After starting operations in 1985, the bank now has over 1,000 offices, over 10,000 employees, and activities in 34 countries.
Competitive entry-level pay and a full benefits package, including paid time off, retirement benefits, and health insurance, are provided by Ecobank Nigeria.
The bank offers chances for professional development and career promotion because it values the growth of its employees. The starting salary is N140,000 a month.
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9. First City Monument Bank: Modern Nigerian bank FCMB is in direct competition with the nation’s top financial organisations. FCMB employs more than 5,000 people nationwide and has more than 300 branches.
As an employer, FCMB cherishes its workers and provides them with a full range of benefits, such as paid time off, retirement benefits, and health insurance.
Along with attractive entry-level pay, the bank provides chances for professional growth and career progression. N110,000 is the entry-level salary each month.
Conclusion
In conclusion, Nigeria’s banking industry is expanding quickly and provides a variety of job options. The competitive compensation packages and benefits offered by these top 10 best paying banks in Nigeria make them a desirable choice for anyone aspiring to pursue careers in banking. Bear in mind that a banking job can be quite demanding but passion for the profession will keep you going. We hope your job search goes well!
