Do you have any intentions of working with First Bank of Nigeria in any capacity? One of the things you should know is their salary structure. So in this article, we will be telling you about First Bank salary structure.
If you desire to work in the bank, one of the things you should know is how much you stand to earn. You may even be asked the question during your interview. So it is only right that you know the right answer to give. Just keep reading this article to know everything you would want to know — especially about First Bank.
First Bank of Nigeria
Just as the name suggests, ‘First’ Bank is the oldest bank in Nigeria. it was created way back before Nigeria got her independence — in 1894.
The bank which is still in existence as one of the best banks in Nigeria goes to show that it is being managed well and that it is why it is still standing tall.
How much does First Bank PLC pay their workers?
It is quite a norm that most people who go for job interviews tend to demand a pay lower than what they are supposed to earn thinking that that would place them at an advantage to get the job.
But no. It doesn’t work that way. You should be informed about the normal pay you are meant to be receiving for any given job.
That being said, we will be going straight to the salary structure of staff of First Bank Nigeria. For clarity purpose, we will be showcasing this payment scheme according to their positions/level.
Monthly salary of First Bank’s Graduate Trainee
It’s the practice of First Bank of Nigeria to train fresh graduate for four (4) months to get them ready for the job in the banking sector.
The training is mandatory and it aims at exposing the fresh graduates to all the necessary training they’ll need.
During the training, the bank pay them the sum of ₦58,000 as monthly salary.
At the end of the four months training, the bank send the trainees on two weeks attachment to other branches of the bank and if they pass the test, they are employed.
First Bank Monthly Salary For Contract Staff
These set of workers referred to as contract staffs are not direct employees of the bank. They are sourced from other companies but they are subjected to the regulations of First Bank of Nigeria.
Contract staff of FBN earn ₦84,000 monthly. They also get to enjoy the compulsory 21 days annual leave just like the normal staff of First bank.
How Much Does First Bank Entry-Level Staff Earn?
Recall that in the preceding paragraph we told you that the fresh graduates are trained and the selected trainees are employed as staff of the bank.
The bank’s salary structure for fresh entry-level graduate is considerably fair even though it comes with a lot of obligations and targets to meet.
First bank pay ₦120,000 monthly for Entry-Level staff in addition to bonuses and profit-sharing. The profits are often shared by the end of their financial year-end not necessarily the end of the year.
Loan Officers Monthly earning at First Bank
These staffs are in charge of the loan activities of the bank — from disbursement to to retrieving of these loans.
To get to this position, one will have to work in the bank for quite a number of years to gain enough expertise to occupy that position. First bank pay their loan officers up to ₦420,000 Naira monthly plus other allowances.
First Bank salary structure for Credit Analysts
Apparently, First Bank of Nigeria pays its Credit analysts very well. However, this position comes with a lot of responsibilities. They are paid from ₦600,000–₦720,000.
Salary Structure For Senior Banking Officers at FBN
Just as the name implies, the Senior Banking Officers are the high ranking staff of the bank and they are ladened with lots of responsibilities.
The manager and other staff above him earn from ₦500,000 to ₦1million monthly.
In addition to the huge pay, a branch manager gets allowances such as an official car and a house; travel allowances and other small benefits from the company’s profit at the end of the year; especially if the branch he is managing makes the greatest turnover. They earn in salary up to N920,000.
First Bank Management Associate Programme
The First Bank Management Associate Programme is a 2-year comprehensive developmental programme targeted at equipping young, vibrant, self-motivated individuals who desire to be part of the future leaders in the Bank.