Highest Paying Banks in Nigeria Today in 2020

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The Nigerian banking industry is a multi-billion Naira industry, and there are more than 20 commercial banks operating full-fledged in the sector. However, the basic thrust of this article is to unveil to you the highest paying banks in Nigeria as well as their salary structure as at 2020.

highest paying banks in nigeria

So, what else?

Highest Paying Banks in Nigeria

  • Access Bank
  • Guaranty Trust Bank
  • First Bank
  • UBA
  • Zenith Bank
  • Ecobank
  • FCMB

1.) Access Bank Nigeria PLC

Access Bank is currently the highest paying bank in Nigeria. The leading commercial bank has a very impressive salary structure for both her junior and senior banking staffs – all of which are more than 10,000 across the country.

Being one of the richest banks in Nigeria (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 while the entry level staffs are paid nothing less than #230,000 on a monthly basis.

There are even some top officials who are receiving up to #1,500,000 and #3,500,000.

Please note that 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.

Another thing about Access bank is that all the staffs salaries are usually paid as and when due, and also the bank rarely cut the salaries of its workers.

With that being said, it is equally important to let you know that although Access bank pays one of the biggest salaries in the banking industry, but rest assured you will work ‘extremely hard’ to prove yourself worthy of the payment.

In fact we’ve heard cases of some marketers labelling the bank as a ‘modern day slavery’ institution because they were being given unachievable and unreasonable targets, after which they will remain unpromoted or even be fired if they fail to deliver in time.

This could be considered one of the reasons why the bank has a very high rate of labour turnover – they are recruiting almost all the time!

Back to the gist…

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}

GTBank is best known for her wide popularity, huge customer base, excellent customer support, quality array of staffs. But that’s not all…GTBank is also among the top paying banks.

The bank has one of the best payment salary structures in the banking sector, with her entry level staffs receiving over #200,000 and some top officials raking in as much as #500,000 to #2,000,000 in a month.

In addition to the above, Guaranty Trust Bank also reward her staffs with special bonuses and allowances, such as traveling allowances, wardrobe allowance, school fees allowance, to mention but a few.
Senior banking officers in the bank are as well eligible for annual vacation overseas and are permitted to go with their family – all expense cleared by the bank.

Again, it might also interest you to know that GTBank spends huge amount of money on her recruitment and training process to develop the capacity of their staffs.

These combined could be considered one of the reasons why the bank is rated among the best banks to work in Nigeria as well as the commercial bank with the least rate of employee turnover in the Nigerian banking industry.

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 is yet another high paying bank in Nigeria. The bank boasts of thousands of staffs across the nation and has more than 10 million whopping customers base. FBN also has a net asset amounting to N4.5 trillion, making it part of the biggest Nigerian banks.

Not just that, first bank has retains the top 3 spots on the list of the best banks in the country for many years now.

More importantly, First Bank is everly known for her commendable 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}

Established in 1949, UBA is a leading multinational bank headquartered in Lagos, Nigeria.

It competes with other industry giants like First Bank Nigeria, Zenith, and Guaranty Trust Bank in terms of customer support, technology and innovation, payment structure, etc.

That being said, if you are looking for the highest paying Nigerian banks, then UBA is definitely one.

Entry level staffs at the bank receive salary amounting to 130,000 Naira or thereabout every month while graduate trainees receive up to #80,000 in s month.

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}

Our list of the top paying banks in Nigeria would be too shallow if this great bank is left out.

Zenith Bank Plc offers good salary alongside befitting bonuses and allowances to its employees at various levels, and releases the entitlement as and when due.

As an IT student or Corps member in Zenith Bank, you will be paid 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

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

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.

Wrapping it Up

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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