The banking sector in Nigeria is one of the most lucrative industries, with several commercial banks offering competitive salary packages and attractive allowances to their employees. As of 2025, these banks have structured their pay scales to attract and retain top talents in the highly competitive financial landscape. In this blog, we will explore the top 10 highest-paying commercial banks in Nigeria, including their salaries, benefits, and other allowances for different employee levels.
1. Standard Chartered Bank Nigeria
Standard Chartered is renowned for offering some of the best compensation packages in Nigeria’s banking sector. With its global presence and commitment to rewarding its employees, it remains at the top of the list.
- Entry-Level Salary: ₦500,000 to ₦800,000
- Mid-Level Salary: ₦1,000,000 to ₦2,000,000
- Senior-Level Salary: ₦2,500,000 to ₦5,000,000
Benefits/Allowances:
- Health insurance
- Performance bonuses
- Pension contributions
- Generous leave packages
2. Access Bank
Access Bank, one of Nigeria's largest financial institutions, has consistently been known for offering attractive pay packages and comprehensive employee benefits. Its competitive salary structure is aimed at rewarding both fresh graduates and experienced professionals.
- Entry-Level Salary: ₦300,000 to ₦500,000
- Mid-Level Salary: ₦800,000 to ₦1,500,000
- Senior-Level Salary: ₦2,000,000 to ₦3,500,000
Benefits/Allowances:
- Health and life insurance
- Annual bonuses
- Career development programs
- Pension contributions
3. UBA (United Bank for Africa)
UBA is one of Nigeria’s leading banks, offering substantial salaries and allowances. Known for its employee-centric policies, UBA provides its staff with opportunities for growth and development.
- Entry-Level Salary: ₦250,000 to ₦400,000
- Mid-Level Salary: ₦700,000 to ₦1,200,000
- Senior-Level Salary: ₦1,800,000 to ₦3,000,000
Benefits/Allowances:
- Health insurance
- Yearly performance bonuses
- Pension and retirement benefits
- Access to financial education programs
4. Zenith Bank
Zenith Bank has built a reputation as one of the top banks in Nigeria, attracting skilled professionals with its competitive pay packages and lucrative allowances.
- Entry-Level Salary: ₦300,000 to ₦500,000
- Mid-Level Salary: ₦1,000,000 to ₦1,800,000
- Senior-Level Salary: ₦2,500,000 to ₦4,000,000
Benefits/Allowances:
- Health insurance
- Performance-based bonuses
- Educational allowances
- Retirement benefits
5. GTCO (Guaranty Trust Holding Company)
GTCO is another major player in the Nigerian banking sector, offering excellent salaries and perks for its employees. Known for a great work-life balance, GTCO provides lucrative compensation packages for both new hires and experienced professionals.
- Entry-Level Salary: ₦350,000 to ₦600,000
- Mid-Level Salary: ₦800,000 to ₦1,500,000
- Senior-Level Salary: ₦2,000,000 to ₦3,500,000
Benefits/Allowances:
- Health insurance
- Annual bonuses
- Company cars for senior staff
- Pension contributions
6. Fidelity Bank
Fidelity Bank is recognized for its generous salary structure and employee benefits. The bank ensures that both entry-level employees and experienced staff enjoy competitive pay and allowances.
- Entry-Level Salary: ₦280,000 to ₦450,000
- Mid-Level Salary: ₦800,000 to ₦1,200,000
- Senior-Level Salary: ₦1,800,000 to ₦2,800,000
Benefits/Allowances:
- Health insurance
- Pension plans
- Performance incentives
- Educational assistance
7. First Bank of Nigeria
First Bank of Nigeria has long been one of the country’s leading financial institutions, offering attractive salary packages. Employees at all levels are compensated well with a combination of salaries and benefits.
- Entry-Level Salary: ₦250,000 to ₦500,000
- Mid-Level Salary: ₦900,000 to ₦1,500,000
- Senior-Level Salary: ₦2,000,000 to ₦3,000,000
Benefits/Allowances:
- Health and life insurance
- Bonuses based on performance
- Pension scheme
- Paid leave
8. Sterling Bank
Sterling Bank has gained recognition for providing a competitive salary structure, especially to entry-level and mid-level employees, alongside various allowances and bonuses.
- Entry-Level Salary: ₦250,000 to ₦400,000
- Mid-Level Salary: ₦600,000 to ₦1,000,000
- Senior-Level Salary: ₦1,500,000 to ₦2,500,000
Benefits/Allowances:
- Health insurance
- Performance bonuses
- Retirement plans
- Professional development programs
9. Ecobank Nigeria
Ecobank is known for offering competitive salaries to its employees. With a vast network across Africa, it provides extensive opportunities for career advancement and rewards for high performance.
- Entry-Level Salary: ₦350,000 to ₦600,000
- Mid-Level Salary: ₦700,000 to ₦1,300,000
- Senior-Level Salary: ₦1,800,000 to ₦3,000,000
Benefits/Allowances:
- Health insurance
- Annual bonuses
- Retirement benefits
- Educational allowances
10. Union Bank of Nigeria
Union Bank offers competitive salaries, and their comprehensive employee benefits include health insurance, performance bonuses, and training programs aimed at personal and professional growth.
- Entry-Level Salary: ₦250,000 to ₦450,000
- Mid-Level Salary: ₦700,000 to ₦1,100,000
- Senior-Level Salary: ₦1,500,000 to ₦2,800,000
Benefits/Allowances:
- Health insurance
- Bonuses based on performance
- Retirement benefits
- Personal development training
Frequently Asked Questions (FAQ)
Q1: Which commercial bank in Nigeria offers the highest salary?
- Standard Chartered Bank is one of the highest-paying banks in Nigeria, offering competitive salaries starting from ₦500,000 for entry-level positions.
Q2: What are the benefits offered by top commercial banks in Nigeria?
- Most top banks offer benefits such as health insurance, performance bonuses, pension contributions, and professional development programs.
Q3: How much do entry-level banking staff earn in Nigeria?
- Entry-level salaries in commercial banks in Nigeria range from ₦250,000 to ₦500,000, depending on the bank and the location.
Q4: Do commercial banks in Nigeria provide bonuses?
- Yes, many commercial banks offer performance-based bonuses, annual bonuses, and other incentive schemes to their staff.
Q5: Are senior-level employees paid more than mid-level employees in Nigerian banks?
- Yes, senior-level employees generally earn higher salaries, with ranges from ₦1,500,000 to ₦5,000,000, depending on the bank.
Conclusion
The banking sector in Nigeria continues to thrive, and these top 10 commercial banks offer some of the best salaries and allowances in the industry. Whether you're a fresh graduate or a senior professional, working in any of these banks provides an opportunity to earn a competitive salary and enjoy a range of benefits that ensure job satisfaction and long-term growth.
