Salary Structure of Sterling Bank is written to bring to your knowledge the Salary Structure of Sterling Bank. We hope you find it helpful.
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Sterling Bank has its head office at Sterling Towers, 20 Marina, Lagos. At a point in time, Sterling bank acquired Equatorial Trust Bank.
Sterling Bank Plc has a commercial banking license with national authorization and a full-service national commercial bank licensed by the Central Bank of Nigeria.
The bank shares trade under the Banking sector of the Nigerian Stock Exchange with the symbol STERLNBANK. On Reuters and Bloomberg terminals, it is identified as STERLNB.LG and STERLNBA.NL respectively.
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As with most other banks, Sterling bank pays according to rank and hierarchy. In the banking sector, the staff that earns the lowest pay are usually the temporary staff (contract staff), which may include the graduate trainees and Interns of all classes, while the highest-paid staff is usually the permanent staff which includes the entry-level staff, branch managers and all the senior managers down to the Managing Director.
Sterling Bank is one of the thriving banks in Nigeria and it pays its staff a good salary compared to some other banks. Sterling Bank Plc is among those few banks that offer their workers impressive allowances.
Salary Structure of Sterling Bank
Here are the positions and Salary Structure of Sterling Bank:
Sterling Bank’s Graduate Trainees’ Salary
No matter how good the résumé of someone was or his or her grades in school, no one working in a bank enter the system without undergoing some sort of training.
Every bank including Sterling bank makes training compulsory at least especially in the first four months. During this training or probation period, graduate trainees get paid N55, 000 and N65, 000 naira per month. The training lasts for more than 1 month, but less than 1 year.
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Sterling Bank’s Entry Level Staff’s Salary
After a new recruit has successfully completed his or her training at Sterling Bank, he or she becomes an entry-level staff, and on getting to this point, the person’s take-home package is automatically upgraded.
Entry-level staff at Sterling Bank get paid N145, 000 per month because the person is now confirmed staff in the company.
Sterling Bank’s Loan Officers’ Salary
Loan Officers’ salary is a lot more than that of entry-level staff. Loan officers at Sterling Bank get paid N500, 000 per month. This monthly salary sums up to N6, 000,000 per annum.
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Sterling Bank’s Credit Analysts’ Salary
Only a handful of people become credit analysts, compare to the total number of people working in the bank. Credit Analysts get paid a very good salary of N610, 000 per month. This monthly salary is the same as N7, 320, 000 per year.
Sterling Bank’s Branch Managers’ Salary
The aspiration of many bank workers is to become branch managers someday. Because you become the Oga at the top when you get there.
Every bank worker wants this position because of the enormous salary received by branch managers. Branch managers at Sterling Bank earn N600, 000 per month.
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Apart from their monthly salary, they are also offered huge allowances more than other staff. As with other companies, Sterling Bank as well as other banks pays for quality service delivery.
The bank may decide to underpay someone when his or her service delivery is reviewed and discovered that it does not match up to the standard remuneration, they could also overpay the one who works tirelessly to ensure that quality service is delivered.