Ecobank Nigeria is one of the most dynamic banks in Nigeria. While many banks sprung up and faded away at some point, Ecobank remained steadfast. They have stood the test of time and waded through waters of adversity, recession and all forms of crises to be where they are today.
Ecobank was once known as Oceanic Bank Nigeria Plc. They are truly a Pan-African bank. They have established several branches in francophone countries in West Africa like Togo, Senegal, The Gambia, and lots more. They have a large customer base, and they are still expanding.
Contrary to public opinion, Ecobank is actually one of the best-paying banks in Nigeria. Their staffs are well enumerated, and their system allows for employees who are dedicated to their jobs to progress in the system over time.
This article explores the salary structure of Ecobank Nigeria Plc. If you want to know how much Ecobank staffs are paid to do their jobs, this article will come in handy. Enjoy!
Ecobank Staff Salary Structure
Firstly, at the bottom rung of the ladder, we have the Graduate Trainees. These individuals are employed on a ‘temporary basis’. This temporary status usually lasts for a period ranging between a few months to a year. During this time, the new recruits undergo intensive training in banking systems, operations, policies and terminologies, in order to acquaint them with the requisite knowledge and skills required for the job.
During this period of training, they still work at the bank and get paid. After the training is done and candidates are evaluated, those who scale through are recommended and approved for promotion to the next level in the hierarchy, which is the Entry-level or Basic-level. This new level is not temporary; employees are considered as permanent staffs at this point.
- For Graduate trainees, Ecobank pays a monthly salary of 49,000 naira (as they continue to work during their period of training).
- Entry-level staffs are a step ahead of Graduate trainees. However, even one single step might mean a huge difference in salary outcome. Ecobank pays its entry-level staffs 141,000 per month.
- For Loan officers, Ecobank pays a monthly salary of 663,000 naira. This amounts to approximately 7.9 million naira per annum. That’s not all; loan officers are also entitled to a number of fringe benefits and allowances.
- Credit analysts are one of the most strategic functionaries within a proper banking system. Their responsibilities directly and/or indirectly affect the achievement of or the failure to achieve the bank’s set goals and objectives per time. Ecobank pays its credit analysts an average monthly salary of 747,000 naira only. This amounts to approximately 9 million naira per annum, excluding benefits and allowances.
- As the name implies, branch Managers are the bosses at the branch level. They are responsible for all administrative functions and technical oversight of the branch of the bank where they are posted. They earn a monthly salary of 846,000 naira monthly. Added to this sum, is a wide range of mouth-watering allowances and an official car.