Bankers Salary in Nigeria

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Bankers Salary in Nigeria
Salary of Bankers in Nigeria

Thanks for joining us again and prepare yourself as we take you on a banking ride. Our discussion in this article will be most beneficial to those interested to pursue a career in the banking industry. Bankers are the employees that carry out the daily operations and duties of a bank.

Without them, banks will not be able to function optimally. However, our central focus in this article is the Banker’s Salary in Nigeria. If you are a commercial student or you love to work in a bank, then you have come to the right place where we will not just tell you about what bankers do but also Bankers Salary in Nigeria.

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Nigeria Salary Scale for Bankers

If you love bankers, from their dressing, their class, work environment, job description, and so forth, and probably desire to become one someday, I implore you to read this article through to the end.
The banking sector has developed to become a force and one of the drivers of a nation’s economy, Nigeria is not exclusive.

The role of the banking industry in a country cannot be overemphasized with the huge responsibility of accepting deposits from the public for the sole aim of giving out loans to the public and investing in the also insecurities. Not just that, they also provide safe deposit locker facilities and safe custody services to clients. The professionals who carry out all these responsibilities are referred to as bankers.

You might be wondering what then do bankers do? Well, bankers are trained to advise clients with respect to financial issues including matters concerning savings, loans, taxes, investments, and securities. Not just that, bankers also offer financial assistance to clients in accordance with their required needs. Having disclosed a bit about their functions, we will now discuss bankers’ salaries in Nigeria.

Average Bankers Salary in Nigeria

I know you are interested to pursue a career in a high-paying job with a nice comfortable office. that, my friend, is what banking offers you, especially with high salaries that is the more reason why most individuals are interested in finding a job in the banks after graduation.

Bankers are among the moderately paid professionals in Nigeria. On average, bankers’ monthly salary is approximately ₦180,000. The salary ranges from ₦131,000 – ₦428,000 per month (maximum salary).

However, bankers going through training in the bank or internship can expect to earn from ₦40,000 – ₦75,000 per month. Interestingly, the average monthly take-home does not include bonuses, profit sharing, and other allowances.

Bankers Salary base on Experience Level

Another determining factor in bankers’ salary is the experience level of the bankers is one of the most important factors. In fact, this is the important factor that is mostly considered especially for managerial roles and other high positions.
Bankers with a working experience of 2 – 5 years earn on average ₦130,000 per month at entry-level, while bankers who have accrued working experience that is more than 5-years expects to earn on average ₦200,000 at entry-level per month
In addition, bankers with work experience that is 10-years and over earn an average salary of ₦300,000 and ₦400,000 and above for bankers who have passed15-years working experience.
The average salary of bankers based on the experience level stated above varies from bank to bank including, location.

Salary in Nigeria based on Educational Level

Again, for more insight into the Bankers Salary in Nigeria 2020, we further break down the salary of Bankers Salary in Nigeria based on their education qualification. We can’t ignore the fact that the more academic qualification you acquire, the higher your salary gets increased.

Bankers with a certificate or diploma qualification earn on average ₦40,000 – ₦70,000. Bankers who have obtained a bachelor’s degree earn an average salary of ₦120,000 per month at the entry level. Also, bankers who attained a Master’s Degree earn an average salary of ₦180,000 per month at the entry level. Bankers who have attained the educational qualification of doctorate, on the other hand, earn an average salary of ₦250,000 upward.

However, you need to note that, change in salary based on education differs based on location and the bank-firm they work with, as well as the career field.

Salary of Bankers based on Specialization

Here we have compiled a comprehensive list of different specializations of bankers and their average monthly take home. Scan through the list below.

  • AML Analyst N283,000
  • Assistant Bank Branch Manager N261,000
  • Assistant Bank Manager N283,000
  • ATM Manager N282,000
  • ATM Service Technician N143,000
  • Bank Accounts Analyst N183,000
  • Bank Accounts Controller N207,000
  • Bank Accounts Executive N216,000
  • Bank Accounts Manager N244,000
  • Bank Auditing Manager N233,000
  • Bank Branch Manager N283,000
  • Bank Clerk N140,000
  • Bank Compliance Specialist N211,000
  • Bank Manager N405,000
  • Bank Operational Risk Manager N309,000
  • Bank Operations Head N352,000
  • Bank Operations Officer N190,000
  • Bank Operations Specialist N265,000
  • Bank Process Manager N221,000
  • Bank Product Manager N221,000
  • Bank Programme Manager N277,000
  • Bank Project Manager N272,000
  • Bank Propositions Manager N260,000
  • Bank Quantitative Analyst N219,000
  • Bank Regional Manager N323,000
  • Bank Regional Risk Officer N205,000
  • Bank Relationship Manager N255,000
  • Bank Relationship Officer N197,000
  • Banking Business Analyst N223,000
  • Banking Business Development Officer N192,000
  • Banking Business Planning Executive N288,000
  • Banking Product Manager N262,000
  • Banking Reference Data Manager N251,000
  • Banking Risk Analyst N208,000
  • Banking Technical Analyst N185,000
  • Bankruptcy Coordinator N227,000
  • Budget Analyst N216,000
  • Cards Marketing Manager N261,000
  • Cash Management Manager N287,000
  • Check Processing Manager N289,000
  • Commercial Vault Associate N208,000
  • Corporate Dealer N228,000
  • Credit Analyst N249,000
  • Credit and Collections Manager N256,000
  • Credit Card Fraud Investigator N231,000
  • Credit Portfolio Manager N313,000
  • Credit Risk Analyst N277,000
  • Credit Risk Associate N235,000
  • Direct Bank Sales Representative N199,000
  • Financial Bank Planning Consultant N245,000
  • Financial Banking Analysis Manager N269,000
  • Financial Banking Assistant N194,000
  • Financial Banking Systems Manager N264,000
  • Foreign Exchange Manager N262,000
  • Fraud Analyst N232,000
  • Fraud Detection Associate N230,000
  • Fraud Detection Manager N292,000
  • Fraud Detection Supervisor N222,000
  • Internal Bank Audit Manager N288,000
  • Internal Bank Auditor N202,000
  • International Banking Manager N366,000
  • Loan Analyst N221,000
  • Loan Area Manager N234,000
  • Loan Audit Team Leader N239,000
  • Loan Branch Manager N251,000
  • Loan Business Development Officer N204,000
  • Loan Clerk N162,000
  • Loan Collection Manager N242,000
  • Loan Collector N136,000
  • Loan Examiner N164,000
  • Loan Processing Manager N214,000
  • Loan Processor N191,000
  • Loan Quality Assurance Auditor N231,000
  • Loan Quality Assurance Manager N246,000
  • Loan Quality Assurance Representative N188,000
  • Loan Review Manager N225,000
  • Loan Team Leader N215,000
  • Mortgage Advisor N218,000
  • Mortgage Collection Manager N234,000
  • Mortgage Collector N169,000
  • Mortgage Credit Analyst N188,000
  • Mortgage Credit Manager N204,000
  • Mortgage Development Manager N267,000
  • Mortgage Document Reviewer N163,000
  • Mortgage Funding Manager N276,000
  • Mortgage Operations Manager N299,000
  • Mortgage Payment Processing Clerk N149,000
  • Mortgage Processing Manager N240,000
  • Mortgage Processor N181,000
  • Mortgage Quality Assurance Auditor N226,000
  • Mortgage Quality Assurance Manager N227,000
  • Mortgage Servicing Clerk N136,000
  • Mortgage Servicing Manager N227,000
  • Mortgage Underwriter N150,000
  • Online Banking Manager N293,000
  • Payment Processing Clerk N151,000
  • Personal Banker N216,000
  • Personal Banking Advisor N214,000
  • Phone Banker N184,000
  • Private Banker N231,000
  • Reconciliation and Investigation Specialist N193,000
  • Teller N129,000
  • Trade Officer N154,000
  • Trade Product Manager N241,000
  • Trader N184,000
  • Treasury Operations Officer N209,000

This is the much we can offer you on Bankers Salary in Nigeria 2020 having considered different criteria. More so, the salary stated in each category is the start-up salary and they get to increase just as the years of working experience increase.

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Requirements to become a Banker in Nigeria

Bankers are not made overnight but they are made over time. To be a banker, you must attend a higher school of learning to obtain an undergraduate degree in banking and other related finance studies. You shouldn’t just stop there but further your studies until you earn a doctorate degree. The reason has been that, the more qualification you have, the higher your chance of landing a bigger position in the banking industry.

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Conclusion

From our discourse above, I believe you are now enlightened about Bankers Salary in Nigeria just as discussed in this article centered on Bankers Salary in Nigeria 2020. The profession is lucrative and marketable. The industry recruits yearly and as such, you should be on the alert and prepare so that you can become an employee in any of the banking firms in Nigeria.

The banking sector has proven to be among the top-paying industries in Nigeria which have been proven by the high number of Nigerian youths interested to work in the industry. With all that being said, we will like to hear from you by giving us feedback on how helpful this article has been.

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