Zenith Bank Nigeria is a commercial bank, charged with the responsibility of rendering global financial services. The bank which came into existence in May, 1990 after its approval by the Central Bank of Nigeria and National Banking Regulator, has its headquarters at Plot 84, Ajose Adeogun Street, Victoria Island, Lagos.
Zenith Bank is undoubtedly one of the oldest, biggest, most efficient and reliable banks in Nigeria with over 500 branches spread across the country. The staff of the bank will attest to this fact as they are handsomely paid for their services. Again, this is one the reasons why its staff work for longer period of time without unnecessary complaints of poor remuneration or moving to other sisters bank in the country.
In this article, we shall bring you the salary structures for staff in different categories of Zenith Bank Nigeria, the employment opportunities and of course factors that determine the Zenith Bank Salary Structures for their over a thousand payrolls in Nigeria.
Generally speaking, 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.
- 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.
Zenith Bank Staff Salary Structure According To Their Levels:
Below are various positions occupied in Zenith bank and how much they pay interns, including members of the youth service and Corps members and students who are on industrial attachment with the bank.
They earn an average of 35,000 Naira monthly which brings their total annual remuneration to about 420,000 Naira. They fall under the lowest-paid staff in Zenith bank because they are just temporal.
Graduate Trainees
The Graduate trainees constitute the lowest level in the hierarchy and is usually the level of a graduate from the Universities and Polytechnics. At Zenith Bank, graduate trainees undergo intensive three-month banking training and they earn about 42,000 Naira per month.
Upon completion of training and complete assessment by the management, his or her status may be upgraded to be an entry-level staff.
Entry-level Staff
The salary for entry-level staff in Zenith bank is relatively higher and among the highest of all the banks in Nigeria. The basic entry-level salary for Zenith Bank staff is between 108,000 – 110,000 Naira, depending on the department in the bank.
In addition, the basic salary and benefits increase as one stays longer in the system, making impacts and climbing the ladder of leadership within the organization.
Customer Service Officers
Zenith bank customer care officers are paid an average of 100,000 Naira per month. Their work is to attend to matters that customers bring to them and also assist in opening accounts and other bank-related issues.
Marketers
The marketers work in the field. They go out to work for the bank by projecting the image of the bank to prospective customers. Owing to their importance and job description, they earn between 145,000 and 155,000 Naira monthly.
Targets are also set out for them, should they hit the target, and they get some commission which is just a plus to their remuneration.
Executive Assistants
Executive Assistants fall under the high class in the bank. They earn between 150,000 and 180,000 Naira monthly, depending on the location and department within the bank. They assist the bank manager to carry out specific functions within the bank.
Banking Officers
The banking officers earn between 300,000 and 400,000 Naira per month.
Loan Officers
Loan Officers form an integral part of the bank. Their hard work and dedication to the growth of the bank cannot be overemphasized as they earn up to 510,000 Naira per month in addition to other benefits attached.
Credit Analysts
Credit analysts are among the top earners. Their monthly wage is around 575,000 Naira.
Relationship Managers
A relationship manager occupies a very sensitive position in the bank. It is the duty of Relationship managers to handle people’s problems as well as manage the issues of people and not allow it to affect their work experience. Relationship managers earn between 560,000 and 600,000 Naira monthly.
Branch Managers
Branch Managers are appointed by the management to head new branches created in a given locality.
At this branch, this fellow becomes the head, purely responsible for the growth or downfall of such a branch.
Branch managers strive to meet up with the weight of responsibilities lined up in the bank and they receive as much as 900,000 Naira monthly excluding mouth-watering benefits and the occasional percentage of the bank’s profit.
In summary, Zenith bank salary structures for its staff is quite commendable and energy boosting for efficiency. It is also a source of encouragement for the staff to put in their very best for the growth and development of the bank, a strong underlining factor that has placed Zenith bank on a high footing and made it one of best and giant banks in the global financial services.