Wema bank Nigeria Plc. is one bank that has re-branded its image and style of operations in recent times in order to get more customers and ultimately retain its position of relevance in the Nigerian banking industry. In addition to their new logo and theme-song, their products and services are now more accessible by all who desire them. They are almost just like a ‘thoroughly refurbished bank’, so to speak.
As we all know, the banking sector is one of the highest paying sectors in Nigeria. Many job-seekers look to the banking sector due to the relatively high salary that workers earn, compared to similar workers in other sectors like manufacturing, and etcetera.
We want to generally consider the enumeration system that Wema bank employs in rewarding its staffs for their monthly efforts at their duty posts. Now, while it is indeed a herculean task to accurately decipher the exact amounts bank staffs are paid as salaries, we have taken a general inside look into how much Wema bank pays its staffs.
Wema Bank Staff Salary Structure
Entry-level staffs at Wema bank earn between 95,000 naira and 120,000 naira. The differences are relative to the employee’s department within the bank. Some departments attract higher responsibility and by extension, slightly higher pay than others. A good example of this phenomenon is seen in the I.T department. Under today’s circumstances and regulations pertaining to general bank operations in Nigeria, there is little or nothing that can be done in a bank (with regard to banking operations) when the computer systems are down, or the servers crashed, or when the entire I.T department destabilized. The functions of the I.T unit are both very demanding and very integral, and are thus absolutely indispensable to the continued functioning of the bank. This may warrant a slightly higher pay for the I.T personnel, compared to those on the same level but in less demanding units.
Another office which will attract a slightly higher pay than normal is the office of the branch manager and the assistants. These persons are involved in leading the bank in the desired direction; that is, they are the principal administrators at the branch, and their ultimate aim is to ensure that all the stipulated goals and objectives are met as at when due. It is only logical to state that such huge responsibility accorded the above-listed managers must be complemented with an equally huge salary. It is therefore out-of-place to assume that the principal administrators – the branch manager, assistant branch manager and deputy manager – would all earn the same salary, and should be on the same salary level with other staffs. Branch managers earn more than assistants and deputies.
Generally speaking, Graduate trainees at Wema Bank should expect to earn in the region of 45,000 to 60,000 naira every month. As their training progresses, this amount is their monthly entitlement. After training is complete and they are evaluated, recommended and approved for promotion, they can now earn something within the entry-level salary range of between 95,000 naira and 120,000 naira every month.