Union Bank, also referred to as Union Bank of Nigeria Plc. is one of the oldest surviving banks in Nigeria. Established in 1917, Union bank is a full-service commercial bank that meets the diverse needs of individuals and corporate entities alike. Union bank is arguably Nigeria’s most reliable banking institution; and like most other banks, they also offer excellent personalized services like Mobile and Internet Banking, cashless transactions, and etcetera to cater to the demands of their customers.
The bank’s asset base was in June 2012 estimated to be around 1.05 trillion naira. It also has a vast network of branches all over Nigeria, as well as subsidiaries in the United Kingdom and Benin Republic.
The banking industry is one of the highest-paying industries in Nigeria. Little wonder, many young graduates aspire to get bank jobs, even if they do not possess banking-related education and qualification. Many utilize the salary they earn from their banking jobs to drive the fulfillment of their dreams.
Among all the banks in the sector, Union Bank Nigeria Plc. is unarguably the one of the highest paying bank – in terms of net periodic pay. They also give good incentives and bonuses. Their salary structure is graded; and as such, there is a fixed salary amount for each grade level in the banking system.
For example, we all know that there are both permanent and contract or temporary staffs in almost every banking system within this country. Permanent staffs consist of entry-level staffs, down to the branch managers and the directorate. Temporary staffs consist of various classes of Interns, as well as Graduate trainees. In the temporary staffs’ cadre, salary may vary slightly and is relative to the employee’s educational level, qualification and experience.
Under normal circumstances, IT students and Interns earn a net monthly salary of around #20,000 naira. Graduate trainees, who may or may not be eventually upgraded to permanent staffs earn around #75,000 naira monthly. When their training is completed, their performances are evaluated; and, based on available vacancies and the policies currently in place, they are recommended either for promotion (to entry-level), probation or outright termination of appointment and dismissal.
Permanent staffs at Union bank and even most other banks earn considerably higher than temporary staffs. It is the dream of every temporary employee to one day be upgraded to the grade of permanent staff. The first level in the category of permanent staffs is the Entry-level. Entry-level staffs at Union bank earn a minimum monthly pay of #180,000 naira.
They are also entitled to receive a number of performance-based incentives and bonuses. This amount far exceeds the average entry-level monthly salary threshold for all the banks in Nigeria. Once one has shown a level of commitment, dedication, excellence and impact at the entry level, he/she is then recommended for promotion into the next level above entry-level in the category of permanent staffs. From this point on, the salary increases as one climbs higher.