10 Highest Paying Banks in Nigeria

Bank jobs are one of the most rushed in Nigeria. This is no surprise, the dream job of many is a high paying job and a nice comfortable office. The banking industry offers high salaries, this is why many job searchers hope to find a job in a financial organization. 

There are over 20 commercial banks in Nigeria, which includes investment bank and microfinance bank organizations. These banks have to survive in a market with strong competition, therefore each bank is looking for the best candidate that will help the firm develop and grow which would in turn attract more customers and clients. Banks pay high salaries to its workers for this same reason. However, not all banks pay as much. This article takes a look at the highest paying banks in Nigeria where you can build an excellent career and support yourself financially.

highest paying banks in nigeria

  1. Diamond Bank-Access Bank Plc

    Diamond bank now called Access bank was founded in 1990 and has branches in Nigeria, Cote d’Ivoire Benin, Senegal, Togo and the United Kingdom. The bank was reported to have a total asset of ₦1.7 trillion US$7.3 billion as of December 2012. Diamond bank merged with Access Bank in 2019 but before this was also rated one of the highest paying banks in Nigeria. Access bank is one of the foremost banks in Nigeria, with an employee base of over 9000 and reported to be one of the highest paying banks in Nigeria with entry level staff earning around 230,000 gross income (without excluding taxes and other deductions) and 170,000 net income.

  1. Heritage Bank

Upon acquisition of the defunct Societe Generale Bank of Nigeria, Heritage bank has been rising in the financial industry. It is reported that the bank pays about N140,000 net income (when all taxes and other deductions are taken into account). This is excluding other bonuses and other profit sharing that takes place towards their financial year end.

  1. Guarantee Trust Bank (GTBank)

Guarantee Trust Bank popularly known as GTB was founded in 1990 and has branches across Nigeria, Cote d’Ivoire, Kenya, Liberia, Gambia, Uganda, Ghana, Rwanda, Sierra Leone and the United Kingdom. This bank has been in the financial market for nearly 30 years. GT bank is very popular in Nigeria. This is because the company is constantly developing and bringing innovations into its functional sphere. The bank is also considered one of the highest paying banks in Nigeria with a gross income of over 200,000 Naira per month (when taxes and deductions are not taken into account) which is about N2.5million per annum. This is in addition to other benefits, allowances and bonuses given to the staff.

  1. First Bank of Nigeria

First bank of Nigeria popularly called First bank has existed for over a century and is one of the top paying banks in Nigeria. First bank is also regarded as one of the best financial organizations and holds a leading role in the financial market with more than 10 million customer base. Entry level employees earn up from 250,000 to 300,000 Naira gross income (when taxes and deductions are not taken into account) per month. 

5.United Bank for Africa

Shortly called UBA. This bank was founded in 1949 and has a history of 70 years. The bank has branches in nearly 19 countries in Africa. It is one of the oldest and biggest banks in the country. It is also one of the most reliable and top paying banks in the country. According to various sources, new workers can be paid approximately 125,000 net income (1.5 million Naira annually)

  1. Ecobank 

The bank has existed since 1986 and is regarded as a good place to start and build a successful career in Nigeria. New entry staff is paid approximately 140,000 Naira monthly. It is also expected that workers have an increase in pay as they grow in their career. 

  1. Fidelity Bank Plc

    Fidelity bank was founded in 1988 with a total asset of US$6+ billion as of 2013. Fidelity Bank was established in 1988 and has a history of a successful career growth for its workers. If you are looking for a reliable to trusted bank to build your financial career, Fidelity bank is one you can try. Fidelity bank is one of the top 10 capitalized banks in the country. It has office branches that are over 240 in number and are located in  major cities in the country. New entry staff can receive approximately 110,000-116,000 per month (1.4 million per year). As the worker also develops professionally, it is expected that the salary increases.

  2. Zenith Bank Plc

Zenith bank was founded in May 1990 by Jim Ovia and has branches in Ghana, Nigeria, Sierra Leone, South Africa and UK and a good salary structure for its employees. Zenith Bank pays its workers approximately N1,296,000 yearly (N108, 000 monthly) 

  1. Union Bank Of Nigeria Plc

    Union Bank of Nigeria Plc., popularly known as Union Bank is a commercial bank that has existed since 1917 in Nigeria. It is one of the oldest banks in Nigeria with a total asset evaluation of US$6.784 billion as of 2012. Union bank works with individuals, small firms, medium companies, and major corporations. It also has branches located in Nigeria and the United Kingdom. It is regarded as one of the best 10 places to work for in the banking industry. It is reported from different sources that the average monthly payment for new entry staff is about 150,000- 180,000 naira according to the department or unit. Interns and those undergoing training in the bank are paid from 40,000 Naira to 75,000 Naira per month.

    10. FCMB 

Many will be shocked but FCMB is also on the list. If you are willing to build your career in the financial industry, you should watch out for FCMB. The bank has a long history and is one of the reliable and trusted banks in the country. FCMB stands for First City Monument Bank and has existed since 1962. Services rendered by FCMB include investments, corporate and retail banking. Employees can also expect a rise in their pay as they develop and grow to leading positions.

Newcomers are paid about 115,000 naira per month, while analysts at top positions earn over 600,000 Naira. 

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