First Bank of Nigeria is one of the oldest banks in Nigeria. It was created long before Nigeria gained independence from her British colonial masters. First Bank has stood the test of time, waded through waters of adversity, recession and widespread liquidation to establish itself as one of the most stable and reliable banks in Nigeria. Over time, they have also spread their network to other parts of Africa and the globe.
They have a good report among both bank customers and the bank workers themselves. Of fifty complaints of bank customers of all the banks in Nigeria, rarely would you find any issue related to First Bank’s inefficiency to meet customers’ demands. Many Nigerian banking graduates and aspiring bankers dream of working with First Bank. First Bank prides itself in excellent service delivery and customer satisfaction using cutting-edge technology and personalized services, and their employees also uphold that culture of excellence in the execution of their duties.
First Bank staffs are one of the high earners in the Banking industry. The bank pays its staffs well, and they also periodically award various benefits and allowances to their staffs. Let us take an inside look into how much First Bank staffs are paid monthly.
First Bank Staff Salary Structure
As with most banks, First Bank staffs are in categories; ranging from Graduate trainees to Assistant Managers and Managers.
Graduate trainees are those who undergo specialized training after being employed by the bank. This training is runs for a few months, and is designed to acquaint them with the fundamental operations of the banking world. At this level, First Bank pays a monthly salary of 56,000 naira.
Entry-level staffs are mostly those who graduate from the graduate trainee level after training, tests, recommendation and promotion. At the end of this process, they are appointed into different offices and units within the bank. They earn a handsome sum of 150,000 monthly.
Loan Officers are one of the top earners at First Bank. They are mostly comprised of persons who have risen through the ranks at the bank, having shown unflinching commitment and sacrificial service to contribute positively to the progress of the bank. They earn up to 700,000 monthly.
Credit Analysts earn a monthly take-home pay of around 800,000 naira. Not just anyone can become a credit analyst at First Bank. Only those who have the requisite qualifications and have stayed some time in service at the bank, during which they made undeniable impact and thus proved their worth can be recommended and appointed as Credit Analysts.
Bank Managers are the bosses. They are answerable to no one within the branch they oversee. The process of becoming a branch manager takes time, effort, skill, added qualification and sacrifice. On the average, First Bank pays its bank managers a lump sum of 920,000 naira monthly – almost a million naira per month; which amounts to over 11 million naira every year: and this amount does not include an official car and several other benefits that are available to the branch manager.