Many fresh university graduates and youth corpers aspire to work in the banking industry, largely due to the fairly reasonable salary and corporate working environment. Among all the banks in Nigeria and indeed Africa, Sterling Bank has proved itself as one of the most innovative banking institutions in Nigeria.
Also referred to as Sterling Bank Nigeria Plc., the bank was formed in 2006 from a merger between four different banks who were each on the brink of liquidation in the midst of economic stress and uncertainty. Sterling bank is a full-service national commercial bank with hundreds of fully-functional ranches littered all across the length and breadth of the nation.
Among all the banks in Nigeria, staffs of Sterling Bank Nig. Plc are one of the best paid bankers. This article seeks to explore just how much sterling bank staffs earn as salary. If you are looking to get employment in Sterling bank, or you just want to be informed about their salary structure, this article will come in handy.
However, please note that the information contained here is accurate to the best of knowledge accrued from several different reliable sources within and outside the banking system. Even though it gives one an accurate idea of the bank’s salary structure, we must realize that in every system there are always variations and uncertainties; and as such, at some point in time such as now the real state of things may totally tally with the contents of this piece; while at some other time, the exigencies of time, leadership style and policy implementations may slightly alter the bank’s salary structure…and that of course will not be reflected in this piece. Thus, the info here gives you only an accurate idea of the salary structure; at some point in time, it may or may not be wholly 100% accurate.
Irrespective of the condition(s), this surely sheds some light. Read on!
How Much Does a Sterling Bank Staff Earn
As with most other banks, Sterling bank pays according to rank and hierarchy. Within the banking structure, the lowest earners are usually the temporary staff (a.k.a contract staff), which may include the graduate trainees and Interns of all classes: while the highest earners are usually the permanent staffs which include the entry-level staffs, branch managers and all the senior managers down to the Managing Director.
Sterling Bank Graduate trainees are entitled to a monthly pay of between #55,000 naira and #65,000 naira. This will be their salary during and after their compulsory training and probation, which would usually last for anywhere from a few months to one or two years, depending on the candidates performance. Afterwards, the bank evaluates their performances during the training and makes a recommendation to promote those whose performances are excellent and satisfactory – in light of available vacancies and policies, while also discussing viable lines of action for those candidates who fail to meet up to the required standard after the training.
Entry level staffs earn a minimum pay of #145,000 naira monthly. They are permanent staffs.