Entry-level roles in the banking sector often come with intensive training programmes, performance-based incentives, and opportunities for career growth.
These, according to BusinessDay, are the factors that 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 to entry-level staff. 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.
The salary figures in this article are based on insights from industry insiders and publicly available information.
Here are the top 10 best-paying banks for entry-level positions in Nigeria:
- Standard Chartered Bank:
Standard Chartered Bank leads the list with an estimated net salary of approximately ₦514,000 per month. The bank re-entered Nigeria in 1999 and officially opened to customers on 15 September of the same year as a wholly owned subsidiary of Standard Chartered Bank Plc, headquartered in the United Kingdom. With its global presence and structured graduate training programme, Standard Chartered offers new graduates a strong foundation to develop their careers in line with international standards.
2. Stanbic IBTC Bank:
Stanbic IBTC Bank offers an estimated monthly net salary of around ₦511,000. 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.
3. 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.
4. 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.
5. Wema Bank:
Wema Bank, Nigeria’s longest-surviving indigenous bank, has built a reputation for resilience and innovation. In 2017, it launched ALAT by Wema, the country’s first fully digital bank, which operates across all 36 states and the Federal Capital Territory. As it approaches its 80th anniversary in 2025, the bank continues to expand its digital footprint while maintaining a strong focus on professional development.
For entry-level staff, Wema Bank offers an estimated net monthly salary of approximately ₦388,000, making it an attractive choice for young professionals looking to build a career in modern banking.
6. 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.
7. Fidelity Bank
Entry-level employees at Fidelity Bank earn an estimated net monthly salary of ₦360,000. 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. Over the past 12 years, the bank has recorded significant growth in savings deposits, with more than 57% of its customers actively using its mobile and internet banking services.
8. Union Bank
Established in 1917, Union Bank is one of Nigeria’s oldest and most respected financial institutions, providing banking services to individuals, SMEs, commercial, and corporate clients. Its operations are guided by six strategic pillars: delivering quality customer experience, expanding its client base, developing talent, strengthening its banking platform, maintaining professional standards, and driving sustainable earnings growth. Entry-level staff at Union Bank earn an estimated net monthly salary of ₦350,000. In addition to this, the bank provides substantial upfront allowances during the confirmation period, offering financial support as new employees settle into their roles.
9. 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 ₦327,000. The bank continuously refines its remuneration structure to attract and retain talented graduates in an increasingly competitive industry.
10. 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.
