The Nigerian banking sector is highly competitive, not just for customers, but also for talents. Beyond brand reputation, work culture, and benefits, salary packages remain a key factor for job seekers. Banks offer varying compensation based on experience level, location, and job role but some consistently top the chart of the banks paying the highest salary in Nigeria.
The entry-level roles in the banking sector often come with intensive training programmes, performance-based incentives, and opportunities for career growth. These factors make banking an attractive choice for many graduates and young professionals seeking stability and advancement. However, salaries vary across institutions, and understanding which banks offer the best salary can help candidates make informed career decisions.
While most banks provide competitive pay, some stand out for offering higher salaries range. For job seekers looking to enter the industry, knowing which institutions provide the best financial rewards can be a crucial factor in choosing where to apply.
Read Article: Premium Trust Bank Monthly Salary
Top 10 Banks Paying the Highest Salary in Nigeria
Looking to build a successful banking career in Nigeria? Whether you’re a fresh graduate, a professional looking to switch jobs, or just curious about salary scales, knowing the banks paying the highest salary in Nigeria can help you make informed career decisions. The salary figures in this article are based on insights from the banking industry and available information on the banking salary scale.
1. Zenith Bank
Zenith Bank is one of Nigeria’s biggest financial institutions and offers attractive pay, especially for mid-level to senior staff. Entry-level staff typically earn ₦350,000 plus monthly.
2. Access Bank Plc
Access Bank is known for aggressive expansion and structured training programs. Their graduate trainee programs pay around ₦250,000 during training, rising after confirmation.
3. Sterling Bank
Sterling Bank Plc, known as “Your One-Customer Bank,” is a full-service national commercial bank in Nigeria. With over 60 years of operations, the bank has grown from its origins as NAL Bank, a leading investment banking institution, into a fully-fledged commercial bank. New employees at Sterling Bank receive an estimated net monthly salary of ₦320,000. The bank continuously refines its remuneration structure to attract and retain talented graduates in an increasingly competitive industry.
4. First Bank of Nigeria (FBN)
The First Bank Group operates one of the largest banking networks in the country, with over 820 business locations across Africa and an extensive agent banking network of more than 233,500 locations in Nigeria as of 2024. The bank specialises in retail banking and serves over 42 million customers across West Africa. As a group, First Bank employs over 16,000 staff and operates four key strategic business units: retail banking, corporate banking, commercial banking, and public sector banking. Technology-related positions come with an estimated net monthly salary of ₦420,000, while non-technology roles start at approximately ₦312,000.
5. Stanbic IBTC Bank
Stanbic IBTC Bank offers an estimated monthly net salary of around ₦400,000. It is a subsidiary of Stanbic IBTC Holdings, which is part of the Standard Bank Group, Africa’s largest banking group by assets and earnings. Headquartered in South Africa, Standard Bank operates in 20 African countries and 13 countries outside the continent. With a well-defined career progression path and extensive training initiatives, Stanbic IBTC equips new graduates with the skills and experience needed to excel in the banking industry.
6. Providus Bank
Providus Bank stands out with an estimated net salary of approximately ₦433,000 per month. Its focus on innovation and employee development makes it an attractive option for graduates seeking a forward-thinking work environment.
7. Guaranty Trust Bank
Guaranty Trust Bank provides varying salary packages depending on the role. Technology-related positions come with an estimated net salary of ₦433,000 per month, while non-technology roles typically start at around ₦325,000, with additional quarterly bonuses. This structure ensures that employees are rewarded based on their expertise and contributions.
8. Union Bank of Nigeria
Average Monthly Salary: ₦120,000 – ₦550,000+ Union Bank may not pay the highest but has fair benefits and career stability. Trainee officers start around ₦120,000/month.
9. United Bank for Africa (UBA)
United Bank for Africa (UBA) is a leading financial institution with a presence in 20 African countries, as well as the UK, France, and the UAE. It is also the only sub-Saharan African bank with an operational banking licence in the United States. Through its structured training and mentorship programmes, UBA fosters an environment that supports career advancement and professional development. Entry-level staff at UBA earn a net monthly salary of around ₦376,000.
10. Fidelity Bank
Entry-level employees at Fidelity Bank earn an estimated net monthly salary of ₦260,000. Beyond competitive pay, the bank prioritises career growth, offering structured professional development opportunities from the outset. Fidelity Bank serves over 7.2 million customers through 250 business offices and various digital banking platforms. It has a strong focus on corporate banking and MSME financing while driving a digital-first retail strategy.
