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Zenith Bank Nigeria Salary Scale For Fresh Graduates, Managers & Contract Staff

Zenith Bank Nigeria Ltd is a Nigerian global financial services provider, established and licensed in May 1990, for commercial purposes by the Central Bank of Nigeria and National Banking Regulator (NBR), with her head-office in Ajose Adeogun, Victoria Island, Lagos.

Zenith Bank Nigeria is a public limited liability company with over five-hundred (500) branches and business offices in all 36 states in Nigeria including the Federal Capital Territory. Till date, Zenith is regarded as the biggest financial institution in Nigeria and one of the highest paying banks in Nigeria, so little would you wonder why it is regarded as Nigeria’s premium bank.

Zenith Bank Nigeria Salary Scale For Fresh Graduates, Managers & Contract Staff 1

In Nigeria and Africa as a whole, upon graduating from either the university or polytechnic, high hopes emerge, parents are looking up to you to start reaping the dividends of their investments on you, responsibilities begin to creep in and the quest to start working automatically takes effect.

In Nigeria today, the economic nosedive of our financial institutions is quite alarming, the most painful part is that the Banking sector which is unarguably the highest employer of Labour has become the sector with the highest rates of employee turnover.

However, the financial institutions in Nigeria according to statistics still remains one of the highest employers and best paid when compared to other sectors which is the reason for the rush for banking jobs in Nigeria.

Today we will be discussing about salary scale for Zenith Bank Nigeria limited. This would include their basic take home monthly salary (Net Salary) for fresh entry graduates otherwise regarded as graduate trainee, Contract staff and Managers. However, we believe this piece of information will be most vital for fresh graduates applying for graduate trainee or management executive trainee position in Zenith bank Nigeria.

Zenith Bank Monthly Salary Scale For Fresh Graduates And Managers

Here we will be giving the full Zenith bank salary breakdown for fresh entry graduates, Contract staff and other senior executives (Bank Managers) per-annum and monthly, below. Please note that this can serve as an information guide for interview purposes since that is where job seekers make the greatest mistakes.

Do you know that most employers know you are in dire need of the job you are being interviewed for and they take advantage of the situation especially when you are asked this question “What is your salary expectation”? At this stage, confusion sets in especially when you are not sure about the salary range to mention, you are trying not to overprice or under-price your actual worth and because of the job crunch situation in Nigeria, most job seekers would prefer to call a lower amount in order to stand a better chance of clinching the job, and by so doing win the heart of the interviewer.

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Do not forget the interviewer was once an interviewee so he or she understands the reason behind your decision, but hey! STOP that act, it is so wrong and it jeopardizes your chances of clinching the job and even when you eventually do, job dissatisfaction sets in and productivity at work place is equally affected.

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 N150,000 Net” including the word Net simply means after all deductions (PAYE Tax, Pension and other little deductions) have been made because just saying 150,000 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.

To tackle this menace in the most civilized way, the thought it necessary to dig up Zenith bank salary scale for fresh graduates seeking for job at this financial institution. This information, would aside from helping you with the average monthly salary of what Zenith bank pays, it would most importantly assist you in bargaining for the right salary range during interview session with other top banks like GT Bank, Diamond bank, First bank, Fidelity bank, Stanbic IBTC and the likes.

Kindly be informed that the information we are about to give out is for Core Staff of Zenith bank, however, we will be giving you a tip of what non-core staff or better put, contract staff of Zenith bank staff receive.

Since all banks are scheming out ways of reducing overhead costs, 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 treatment meted out to this category of staff, some of which are;

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a) They (Contract staff) are not entitled to the bank’s medical allowances

b) Contract staff are not entitled to bonuses of any kind, they remain on the same salary scale no matter the number of years put in their jobs.

c) They are not offered equal number of Leaves unlike the Core staff of the bank that must get their minimum 21 working days annual leave.

d) They are not entitled to promotions no matter the hard work put into their jobs except there is a conversion programme that helps contract staff convert to full time core staff, though this is rarely the case.

The above maltreatment administered to contract staff are currently being looked upon by the Nigerian Labour Congress, hopefully this would be reduced to the barest minimum in few years to come.

Now to the crux of this article which borders around the salary scale or range of Zenith bank graduate trainee of Management executive trainee, as opined earlier, the monthly and yearly salary structures has been provided here as well as Zenith bank salary for contract staff for this 2018.

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 3 kids, traveling allowances, wardrobe allowance, school fees allowance and other basic allowances and bonuses (Profit Sharing).

In as much as core staff enjoy some of the above, the bank managers and Senior Banking Executives of Zenith are the highest beneficiaries of the juicy allowances and bonuses.

The tables below is a full reflection of Zenith Bank Staff Salary structure For Management Trainee and Contract staff for 2018.

Zenith Bank Nigeria Salary Scale For Fresh Graduates, Managers & Contract Staff 2

Zenith Bank Nigeria Salary Scale For Manager (Bank Manager)

Management LevelAnnual Salary ScaleMonthly Salary Scale
Zenith Bank ManagerN6,000,000 to N7,200,000N500,000 to N600,000

Zenith Bank Nigeria Salary Scale of Full Staff Fresh Entry Graduate Trainee

Management LevelAnnual Salary ScaleMonthly Salary Scale
Fresh Graduate Trainee or Management Executive TraineeN1,900,000N158,333

Zenith Bank Nigeria Salary For Contract Staff

Management LevelAnnual Salary ScaleMonthly Salary Scale
Contract StaffN900,000N75,000
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Despite being well paid in the Nigerian context, they go through real time pressures, many even after close of work, continue their jobs at home, working in the bank requires you to master the art of work-Life-Balance, else your immediate family would pay the price.

The reason most men forbid their wives from bank jobs is due to the pressure and personal time away from the family, her responsibilities at home as a women are practically neglected leaving her home porous to unwanted characters.

Though the above could be managed if well looked into because, judging from the juicy salaries of the Zenith bank staff, added to what ever the hubby earns, would keep the home in a much better financial shape, which is most important in running a home so requesting the spouse to stop the banking job totally or finding an alternative would mean more financial pressure on the man.

Zenith bank 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.

Zenith Bank Nigeria Ltd 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 Zenith bank’s monthly or annual salary scale for fresh graduates trainees, contract staff and managers. Please note that its is the salary scale, not the exact figure so do not get it twisted, we can duly confirm that Zenith bank salary range for the different category of staff falls within the above figures in the table above.

Your opinions and comment as regards the above are important, any info relating to Zenith bank salary structure would be much appreciated from other readers and individuals seeking information related to the salary range for the above positions.

Thank you.

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