First City Monument Bank (popularly known as FCMB) is one of the banks that have revolutionized the Nigerian banking sector in Nigeria in recent times. They are one of the trailblazers in major technological developments and upgrades in banking operations.
FCMB is known for excellence in service delivery and customer satisfaction. Their policy statements and personalized products and services connote a high consideration towards customer preferences. Furthermore, FCMB staffs are one of the best paid in the country. This articles takes an inside look into how much their staffs are paid as salary monthly.
Kindly note that this only serves as a guide to how much to expect to earn in the different positions available at the bank.
We start from the top employee in any branch of a bank – which is the Branch Manager.
FCMB Branch Manager Salary Structure
Branch managers are the bosses at the branches. They carry the burden of steering the bank branch towards its goals and objectives. They are directly in charge of making and/or approving all major and minor decisions and developments that must culminate in the progress of the branches where they head; which would ultimately add up to the overall success of the bank nationwide or worldwide – as the case may be. FCMB branch managers earn a basic monthly salary of around 690,000 naira. Asides this basic income, they are also entitled to a number of other benefits and allowances which could spike their net monthly pay to over a million naira.
FCMB Credit Analysts Salary Structure
FCMB Credit Analysts are one of the top dogs at the branches. They earn a basic monthly salary of 610,000 naira. They are also entitled to a number of allowances and benefits.
FCMB Loan Officers Salary Structure
Loan officers are very strategic personnel in the bank. Their functions and responsibilities directly and/or indirectly impact upon the success and overall progress of the bank. They earn a monthly salary of 540,000, and they are also entitled to some fringe benefits.
FCMB Entry-level Staffs Salary Structure
Employees who get employed via the bank’s ‘Graduate Trainee Scheme’ are required to complete a prerequisite specialized training for a few months. After the prerequisite training has been completed, successful trainees are upgraded to become Entry-level staffs of the bank. Not every trainee always makes it to this level. Some are delayed for some reasons. Any which way, FCMB pays its entry-level staffs a cool sum of 115,000 naira every month, which is indeed a cool amount for a fresh graduate or an average young person.
FCMB Graduate Trainees Salary Structure
All banks require their fresh recruits to undergo specialized training, in order to bring them up to date with the latest systems, software, operations and policies that are operational in the banking sector. Almost new bank employees start from this level of training, and are thus referred to as ‘Graduate Trainees’. Every month, they earn a salary of 46,000 naira. Over time, with consistency and commitment, they are expected to climb up the ladder of leadership within the organization.