Full list: Salaries of different levels of employees in Nigerian banks

• The amount Nigerian banks pay different levels of employees are often kept a secret
• This strategy is deployed by banks to avoid staff requesting raises or considering moving to competitors
• TheRadar highlights the different salaries for different levels of bank employees such as Executive Trainee, Assistant Banking Officer, Banking Officer, Senior Banking Officer, and Assistant Manager

The amount earned as salary by Nigerian bank staff is often shrouded in secrecy, even among colleagues.

Banks deploy this strategy to withhold necessary information from staff that will enable them to evaluate their career options, request raises, or consider moving to competitors.

For employees, the opaque nature of information on salaries hinders employee mobility, restricting them from easily moving to competitors where the salary is unknown.

However, through insights from over 26 current employees across 12 commercial banks, TechCabal gathered an in-depth salary scale for Nigerian bankers as of December 2024.

The monthly salary data cuts across five key grades: Executive Trainee (ET), Assistant Banking Officer (ABO), Banking Officer (BO), Senior Banking Officer (SBO), and Assistant Manager (AM).

List of bankers' salaries for different levels

1. Executive trainee (ET)

The executive trainee (ET) is regarded as entry-level by most Nigerian banks.

The salary scale for ETs across different banks as of December 2024 ranges from N541,000 to N245,000 monthly.

• Union Bank – N541,000
• Standard Chartered Bank – N541,000
• GTCO – N460,000
• Providus – N433,000
• UBA – N400,000
• EcoBank – N394,000
• Sun Trust – N390,000
• Fidelity – N389,000
• Keystone – N350,000
• First Bank – N350,000
• Sterling – N340,000
• Access – N276,000
• Globus – N276,000
• Wema Bank – N255,000
• Zenith –  245,000

2. Assistant banking officer (ABO)

The monthly salary of ABOs in most Nigerian banks as of December 2024 ranges from N760,000 to N470,000.

• Union Bank – N760,000
• GTCO – N720,000
• Wema Bank – N681,000
• Zenith Bank – N609,000
• UBA – N600,000
• Providus – N600,000
• Fidelity – N590,000
• Stanbic IBTC – N550,000
• Sterling – N547,000
• Sun Trust – N526,000
• First Bank – N500,000
• Access – N470,000

3. Banking officer (BO)

Banking officers of most Nigerian banks earn between N579,000 and N1.05 million monthly as of December 2024.

• Providus – N1,050,000
• Access – N900,000
• Wema Bank – N875,000
• Zenith Bank – N800,000
• UBA – N800,000
• Fidelity – N780,000
• Stanbic IBTC – N730,000
• Sun Trust – N698,000
• Sterling –N662,000
• First Bank – N579,000

4. Senior banking officer (SBO)

SBOs in most Nigerian banks were paid between N660,000 and N1.1 million monthly as of December 2024.

• Access – N1,100,000
• Wema Bank – N1,070,000
• Stanbic IBTC – N830,000
• Fidelity – N830,000
• Sun Trust – N760,000
• First Bank – N660,000

5. Assistant Manager (AM)

As of December 2024, assistant managers of most Nigerian banks received between N700,000 and N1.3 million as salaries monthly.

• Access – N1,300,000
• Stanbic IBTC – N1,100,000
• Fidelity – N1,100,000
• Sterling – N952,000
• Zenith Bank – N881,000
• First Bank – N700,000

These monthly salary data do not include bonuses such as profit sharing or 13th-month salaries, according to TechCabal.

It is also pertinent to note that banks like Sterling Bank introduced a cost-of-living adjustment (COLA) stipend of N75,000 in August 2024 to employees from executive trainee to assistant banking officer levels to cushion the impact of persistent inflation in the country.

Zenith, Sterling, other banks that increased staff salaries to avoid attrition

Meanwhile, TheRadar earlier reported that the banking sector is constantly concerned with staff retention and loyalty, hence the need for financial institutions to often raise staff salaries along with other fringe benefits

From Zenith to Sterling Bank, TheRadar highlighted banks that recently increased staff salaries.