Sterling Bank, also self-acclaimed ‘One Customer Bank’, is a Nigerian commercial bank charged with the responsibilities of rendering global financial banking services.
The bank which had its initial name as NAL bank in 1960, has since evolved to become one of the big banks in Nigeria with over 2 million customer base and over 1000 payrolls.
Briefly speaking, Sterling Bank became an administration Claimed Foundation, following the Indigenization of 1972. This was subsequently overseen in organization with Grid Lays Bank Limited, Continental International Finance Company Illinois and American Express Bank Limited.
Sterling bank eventually became a limited liability organisation and in the year 2000, the Federal Government of Nigeria sold its remaining revenue in the bank, thereby making it a complete privatized monetary organization.
In this post, we shall bring you the salary structures for staff 2023 in different categories of Sterling Bank, the employment opportunities and of course, factors that determine the Bank Salary Structures for its numerous staff in Nigeria.
By definition, a banker is a person who provides financial banking services in a bank.
Basically, there are two types of bank staff namely – a Contract Staff banker and Core Staff banker who is permanent or a regular banker. Like any other viable banks in Nigeria, Sterling Bank is one of the banks that pay their staff handsomely.
- Contract staff:These are staff who are not permanent with the bank. They can only be permanent or absorbed fully into a particular bank after they have fulfilled certain terms of Contract.
- Core staff:On the other hand, core staff are those that are employed by the bank. They are permanent and earn even higher than the contract staff. Their contract with the bank can only be cut short where cases of fraud or financial mismanagement have been discovered.
Below are the salary structures of Sterling Bank for its staff, their various positions and how much they pay their staff from Graduate Trainings or students to Senior management positions. This article reflects the salaries of most of their staff, though their allowances and other remunerations that may be added to their salaries are not included here.
Graduate Trainees or Students: Receive a monthly pay of between N55,000 – N65,000. This is probation period of about 4 -6 months for trainees to acquire the basic bank skills that will prepare them for the task of banking ahead.
The Passage Level Specialist: fall under the categories of staff who successfully finished their training programme and retained into the organisation full time. Sterling Bank pay these set of workers a monthly pay of between N140,000 – N150,000.
Advance Officers: Are saddled with much financial responsibilities with higher pay. They earn as much as N500,000 amounting to about N6 million yearly.
Credit Officers: They are senior financial officials with greater responsibilities in Sterling Bank. They earn about N600,000 monthly, amounting to a yearly sum of N7 million.
Branch Administrators: Constitute senior management positions with greater banking responsibilities in Sterling Bank. They are the most paid staff in the bank with about N650,000 to N700,000 totally a yearly sum of N7.8 to N8.4 million, excluding a watering bonuses and allowances.
In summary, Sterling Bank remains one of the top best, efficient, reliable and giant banks in the global financial services where its staff are handsomely paid and jobs secured. No doubt, job seekers in the categories of graduate trainees and those who have the intention to move from other sister banks in Nigeria will find the information provided here very useful and rewarding.