Citibank Nigeria Ltd popularly referred to as Citbank is a subsidiary of Citigroup, one of Nigeria’s front liner of global financial services with more than 200 million customer accounts in over 100 countries around the globe. Citibank was founded in 1984 and has since strategically placed itself in the area of financial innovations by providing corporate clients with world class financial and business services and solutions.
In this post, I will be breaking down the salary structure of Citibank Nigeria Ltd. This information will be useful for various purposes especially in the area of research and job interviews. Most bankers work for the monthly salary, 70% of bank staff do not have plans of building a career from the profession because of the high rate of employee turnovers accustomed with the financial institutions in Nigeria because, however, the banking sector in Nigeria remains one of the best paid and highest employer of Labor in Nigeria.
Citibank Nigeria is a step ahead of other banks in Nigeria when it comes to staff development. According to report, the global bank spends more than half a million on a fresh graduate after passing through their rigorous test and interview process.
The newly employed would be made to go through their compulsory four (4) months training school that involves theoretical and practical training of real life events. During this four months, you will be paid around 80,000 Naira monthly until the 4 months is elapsed. This is done to make the blending process of real life banking much easier.
Working with Citibank Nigeria could be the best thing that could ever happen to you, their welfare package is great, in fact they are rated among the top ten (10) highest paying banks in Nigeria.
At every level, every bank staff is entitled to benefits attached for that level, this development gives the staff the inspiration to work harder to climb up the ladder in their career pursuit.
Citibank salary scale at all level is very juicy, many have compared it to Zenith bank salary structure, which also boasts of a robust package for staff too.
In this article we will be providing our readers with Citibank Nigeria salary scale for service executives better known as Management trainees, this information will be very vital for fresh graduates seeking for employment in the financial sector, banking in particular.
There have been cases where you go for job interviews and you are asked the popular question “ What is your salary expectation?” and you are left dumbfounded trying to hang in the balance.
At this stage, a wrong figure could put off the interviewer and this could mean losing your job. Also, you as the interviewee will be trying so hard not to over price yourself in order not to lose your chances.
Having an idea about the average salary scale for the position being applied for gives you the confidence to negotiate better and in turn tells the interviewer you are prepared for the task ahead.
Going by Citibank Nigeria’s work structure, unlike other banks like Diamond bank, First bank, Fidelity bank and the like, Citibank do not engage the services of outsourcing agencies for filling up vacant spaces in available positions. They go through thorough employment process, select the best brains and invest in them, this is one reason Citibank Nigeria is regarded as the bank with the least rate of employee turnover, staff stay for as long as five (5) years or more while gaining experience and developing their skills yet further.
Another take home point is that when you finally call out your salary expectation, please be mindful to include the word NET, for example ” My salary expectation from this job is N180,000 Net” including the word Net simply means after all deductions (PAYE Tax, Pension and other little deductions) have been made because just saying 180,000 Naira would generally imply Gross Salary payment and when you receive your monthly salary, you would see an amount less than what was initially bargained for, at this stage, it is already too late.
Kindly be informed that the information we are about to give out is Citibank Nigeria Salary structure for core staff, IT students (where necessary) and Non-core staff.
Since all banks are scheming out ways of reducing overhead costs, one of which is payment of staff salaried, most have resulted in the services of outsourcing companies to help in recruitment of staff, a practice that the Labour Union has condemned because of the ill-treatments faced by these category of staff, some of which are;
a) Medical Allowances: They (Contract staff) in Citibank are not entitled to the bank’s medical allowances
b) Bonuses: They are also not entitled to any form of bonuses, they remain on the same salary scale no matter the number of years of service..
c) Annual Leave: Most are not entitled to annual leaves.
d) Promotion: No, Contract staff have no business with promotions
The above are currently being looked upon by the Nigerian Labour Congress, hopefully this would be resolved in few years to come.
Citibank Nigeria since its establishment has maintained a robust salary structure for its staff from Entry level/Graduate Trainee/Management Executive Trainee this, we are about to bring to your notice.
The bank has maintained a super salary structure that covers a whole a wide area such as medical facilities for the bank staff and his or her family though restricted to his or her spouse and three (3) kids, traveling allowances, wardrobe allowance, school fees allowance and other basic allowances and bonuses (Profit Sharing).
A senior banking officer at Citibank is entitled to annual vacation abroad with his family, all-expense paid by the Bank.
In as much as core staff enjoy some of the above, the bank managers and Senior Banking Executives of Citibank Nigeria are the highest beneficiaries of the juicy allowances and bonuses.
The tables below is a full reflection of Citibank Staff Salary Scale For all Levels for 2021.
Citibank Nigeria Salary Structure For Managers (Bank Manager) For 2021
|Management Level||Citibank Nigeria Annual Salary Scale||Citibank Nigeria Monthly Salary Scale|
|Citibank Nigeria Manager||Between N8,400,000 to N9,600,000||N700,000 and N800,000|
Citibank Nigeria Salary Structure Core Staff – Fresh Entry Graduate Trainee For 2021
|Management Level||Citibank Nigeria Annual Salary||Citibank Nigeria Monthly Salary|
|Fresh Graduate Trainee or Management Executive Trainee||N2,640,000||N220,000|
Citibank Nigeria Salary Structure Salary For IT Students 2021
|Management Level||Annual Salary Scale||Monthly Salary Scale|
The Citibank Nigeria salary structure is very competitive compared to other banks. In fact, it is one of the highest paying banks in Nigeria.
Many have argued this fact, claiming Citibank pays higher but a look a Zenith bank salary scale for fresh graduates and senior level managers can confirm which bank pays higher between these two.
In as much as Citibank Nigeria pays reasonably well, many men still frown at the spouses working in the bank due to the pressure attached to it and lack of valuable time for their families.
Though the above could be managed if well looked into because, judging from the juicy salaries of Citibank Nigeria, so long as it keeps the home running, which is most important, so requesting the spouse to stop the banking job totally or finding an alternative would mean more financial pressure on the man alone.
Citibank Nigeria till date is still ranked as the best bank according to Financial Times. Hardly would you hear about massive sack or downsizing from the bank in the news, their managerial system of administration is top notch.
Citibank Nigeria has carved a niche for itself and is a pathfinder to other commercial banking services in Nigeria, growth of full staff is imminent in this bank as well as salary increment as staff climb up the ladder.
So we hope this has helped you in making an informed decision should you find yourself in a position where you are asked about Citibank Nigeria’s monthly or annual salary scale for fresh graduate’s entry level, IT students and managers.
Your opinions and comment as regards the above are important, any info relating to Citibank Nigeria salary structure would be much appreciated from other readers and individuals seeking information related to the salary range for the above positions.