First Bank of Nigeria (FBN) is one of the biggest and highest paying banks in Nigeria, FBN has recently been on the news for massive recruitment exercises, this is due to their current expansions in the retail banking sector. Many have been wanting to know the following about First Bank Salary structures. In this post, we shall be breaking down and giving answers to questions like; How much does First Bank pay their staff? What is First Bank salary structure like? How much does First Bank pay entry level fresh graduates? What is First Bank Salary scale like? these and many other related questions as regards First Bank salary structure will be discussed here today. According to Asian Bankers, First Bank of Nigeria (FBN) ranks among one of the top 10 biggest banks in Nigeria with current total asset of N4,514,789,000,000. We received a lot of commendations when we wrote an article on the list of Top 10 highest paying banks in Nigeria and their salary structures of which First Bank of Nigeria is one of them, this shows the bank is a major player in the banking industry not just in terms or affairs but welfare of staff ranging from Entry Level to top management level. First Bank of Nigeria (FBN) has over the years maintained a high salary structure for staff, both junior and senior banking officers (SBOs), thanks to their Human resource management team. First Bank Nigeria salary structure for entry level is in six (6) figures, Senior banking officers receive as much as 550,000 Naira and above excluding bonuses and other profit sharing that are accrued to staff. Without carrying out proper research as to what First Bank of Nigeria pay their staff, when you are called up for interviews at First Bank and asked ‘What is your salary expectation from First Bank of Nigeria (FBN)?’ at this stage, you are left totally confused as regards the exact amount to mention. In as much as you do not want to scare your interviewer away with a high salary expectation knowing you practically do not have the required experience for the job especially for positions that require more than the number of years of experience you have gathered so far, you also will not want to feel cheated and under paid so you are left in dilemma as to what exact figure to call. This article will help you effectively tackle such without hassles during an interview session, giving the right answers to questions asked overrides the so called required experience needed for the job because you already are being quizzed for the position in which you applied for. From statistics, 70% of job seeker tend to price themselves lower than their actual worth in order to stand a better chance of being called for the job and in the long run, this will have a retrogressive effect on their jobs and overall performance of the staff because job dissatisfaction sets in based on the salary scale being placed on. First Bank of Nigeria (FBN) salary structure as discussed earlier so far ranks among one of the best so if you are thinking of applying for a job there, you are good to go. In as much as they pay well, you will agree with me that the responsibilities attached to working in the bank plus employee rate turn over is high, therefore you must be up and doing if you must retain your job. We have heard cases of inhumane treatment of bank staff by the management, in as much as First Bank of Nigeria isn’t left out as this is a common practice among banks in Nigeria, they still are one of the recent active players in employment market and they must be given due recognition for this.
Upon gaining employment as a graduate in First Bank of Nigeria, like other banks like other revamped old generation banks like Union Bank, United Bank for Africa, Guaranty Trust Bank, Stanbic IBTC, Zenith bank, and other new generation banks, you will be required to attend a compulsory four (4) months training school. The training incorporates both practical and real life experiences which gets the newly employed prepared for the task ahead and adjust with the internal workings of the bank.Towards the end of the 4 months compulsory training, all trainees will be sent on a two weeks compulsory attachment with various First Bank of Nigeria branches within the city and upon completion of the training, successful trainees are selected while the unsuccessful are sent packing. During this period, First Bank pay their Graduate Trainees N40,000 monthly for the period of 4 months, this is to cater for their transport majorly as they are fed by the bank during the training session.
Now we are here, the crux of the article where we are about to expose what First bank salary structure for Entry level full staff is all about. Those who have friends or relatives working with First Bank of Nigeria (FBN) would find this very interesting to know, don’t worry, keep calm as we are about to wet your appetite.
First bank pays 120,000 Naira for Entry Level staff and this is excluding other bonuses and profit sharing usually carried out towards their financial year end (not December 31st) most companies have their financial year end, it does not necessarily have to be December or end of the year.
In as much as these category of staff are not direct staff nor directly paid by FBN, rather the Outsourcing company hired by FBN, they are still bound by the rules of First Bank of Nigeria. They are also entitled to the compulsory 21 days annual leave just like the core staff of First bank. Below are the monthly and annual salary First bank pays their contract staff as at today.
Management Level Monthly Salary Annual Salary
Contract Staff N84,000 N1,008,000
Management Level First bank Monthly Salary First bank annual Salary Scale
Entry Level Staff N120,000 N1,440,000
Management Level First bank Monthly Salary Scale First bank Annual Salary Scale
Senior Banking Officers (Managers and above) N500,000 to 1million N6Million to 7million
In summary, First Bank of Nigeria salary structure for fresh entry level graduate is quite encouraging though could still be improved upon but bear it in mind the responsibilities attached to this job is quite demanding therefore, get your mind prepared.The First Bank of Nigeria (FBN) salary scale above is still active and running the above still in force, we hope this was informative enough and should you be in a position where you are quizzed how much First Bank pay their entry level staff or senior banking officers, your contribution would hold waters based on the above information so far.