Tuesday, 24 April 2018

First Bank Salary Structure & Allowances 2018 


In this post we are quickly going to reveal how much FirstBank pay their staff and also the Allowance that FirstBank workers receive.

First Bank of Nigeria Plc popularly called and referred to as FirstBank,is one of the biggest commercial bank in Nigeria that is headquartered in Lagos Nigeria.

The multinational bank was rated as the and biggest bank in terms of deposits and gross earnings,with over 750 business locations across Africa, the UK and representative offices in Abu Dhabi, Beijing and Johannesburg SA.
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The bank is also has the largest retail client base in Nigeria.The bank is also one of the oldest banks in Nigeria,Firstbank's banking activities can be traced backed to the early colonial days,this had made people to have trust in FirstBank.

The bank was founded in 1894,back then it was called Bank of British West Africa,it was later renamed to First Bank of Nigeria in 1979.

According to the research we conducted,this bank's workers are among the high earners in the Banking industry and definitely among the top 3 highest paid commercial banks in Nigeria.

First Bank Salary Structure & Allowances For Their Workers

Q: First Bank Salary Structure & Allowances?

Most often commercial banks do not reveal the salary structure/ remuneration of their staffs,this however has lead to estimation of what commercial banks pay their workers.


Entry Level Employees earn lower than other staffs,however the amount of money earned is expected to increase with promotion and experience.
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The current estimated salary earned by First Bank’s entry level workers is between ₦ 130,000 - ₦ 150,000 per month (After Tax)*.

Other First Bank Staffs also earn the following:

  • (a) Trainees - ₦ 50,000 - ₦ 70,000 Monthly
  • (b) Loan Officers - ₦ 500,000 - ₦ 700,000 Monthly
  • (c) Credit Analysts - ₦ 550,000 - ₦ 750,000 Monthly
  • (d) Bank Managers - ₦ 800,000 - ₦ 1.2 Million Monthly
See Also: Julius Berger Current Salary Structure 

Note:
  • The current minimum wage in Nigeria,applicable from 2011 is ₦18,000 per month,exclusive of all deductions.
  • Low paying companies sometimes bolster their pay with allowances.
  • The salary paid to interns and trainees are less than the amount paid to entry level workers.
  • Most multinational companies pay according to global standards and are among the highest paying companies in Nigeria.
  • The information on this page is subject to change,figures stated here are only estimates and not 100% accurate.
  • Figures stated here represent net total amount with tax deductions.


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