Its a good news to here that UBA has thought it wise to review its pay upwards. At least an Executive Trainee is now entitled  to 1 Million Naira per annum. This is in place of the 720,000 Naira per annum before. Translating to 49,000  Naira Monthly after all deductions. They can now smile home with about 70,000 Naira after deductions. Kudos Elumelu.

We should not just be hearing that the bank is the biggest but with less financial impact on the staff.

Although, the bank has not measured with its colleagues in terms of pay to staff, but this recent step is a good one in the right direction.

Are you sure that information is authentic?

You mean even First Bank pays more than UBA?

@UBA

PSsssssssssssssshhhhhhhhhhhh, ! (loud-unending-ease),

U cam imagine with all the noise of being the BIGGEST BANK n claiming AGUSTO & CO. RANKED them number one bank in nigeria.

This should not even be said in the public.

A BIG SHAME TO UBA

stop criricizing our bank!!! if they have reviewed the salary, give them kudos!!!
why are u so pissed they were rated no.1. ask urself what criteria was used. Elumelu, well done!! but u can do better!!!!!

it is a good stp in the right direction. it is a sign for better things to come. Nigeria is actually growing.

@DaKnight
a bank that claims to be No.1 paid it's entry level staff just 49K a month and you feel that's acceptable? i havbe friends thaty work in UBA, and these guys work monday to saturday, during weekdays they close as late as 7pm, at times 8pm! all that and the most miserly pay package in the banking industry?
Elumelu has only done what he should have done long ago. simple!

UBA has over 300 branches across Nigeria 7 in Ghana, 1 in New-york and Is Planning to open one in London

UBA has over 900 billion Naira Asset base, I trillion in Balance sheet and Contingents I am not a

" FIANANCIAL ANALYST" but this is enough to proove beyond any reasonable doubt that it is the biggest in the

country and West Africa

Although lets be frank The Take home pay is not much when compared with the other banks

(That Discriminate with Age, Type of degrees, and class of degree )

UBA could adopt their strategy and pay so much to so few I think then you would be Happy

@ LanreDaMan

Have u ever heard of ROE (Oceanic bank has the highest for 2006 banking industry), ROA, LEVERAGE (Debt/equity mix), CASH FLOW ANALYSIS, Working capital need, interst cover, Asset turnover, Operating profit margin, return on operating assets?.

Financial Analysts have a 3RD EYE, that is why we are [b]ANALYSTS!. WE DIG BEYOND THE SURFACE! Why do you think even the Mega banks like STANBIC, ZENITH, INTERCONTINENTAL BANK etc come to us for ANALYSIS.

My guy, this is my job, having even a MILLION BRANCHES, does not make u the BIGGEST BANK ANYWHERE IN THE WORLD! Compare UBA and THE WHOLE OF STANBIC's BRANCH IN AFRICA in terms of branch number, HABA. STANDARD BANK IS BIGGER THAN ALL NIGERIA'S 25 BANKS PUT TOGETHER! Na by SIZE?

Have u heard of the word economies of scale, and its demerit?

My! i am almost delivering a lecture on FINANCIAL ANALYSIS FOR FREE! Contact me for more details.

Why do u think when FINANCIAL ANALYSTS n CONSULTANTS are hired into a Bank, they are paid more than those that ve worked in the same bank for the same PERIOD. My guy they pay for the 3RD EYE SKILLS which ANALYST ve! YOU JUST CANT BEAT THAT![/b]

There are two terms we might need to look up here. Unfortunately, I do not have the knowledge to define them. Maybe our financial analysts in the house can help us.

1. Ranked
2. Rated

I think most times when the general public sees ranked [/b]they think [b]rated. I have the feeling UBA took advantage of that. Anyways a lot of people still see the advert as some form of marketing. The terms mean different things in the financial sector.

I welcome the reviewed salary, it was long overdue anyway!
As for my bro LanreDaMan rambling about wat UBA has and dont have, dont be carried away by all those figures- they are meant to deceive u!

When I heard about the talk about their 1 trillion naira in Balance sheet, I laughed.

Let them give me the Balance sheet, I will expose all the holes in it and u will be surprised wat the so called 1 trillion is made of -I'm an accountant, I know wat I'm talking about.

Listen to ogs, he is yarning my mind. Take care and congrats to the UBA guys

Aint we in luck! I got someone to help me with the terms.

Ranking or Rating?

A Credit Rating is an opinion expressed by a rating agency which provides an objective and independent evaluation of the creditworthiness of an issuer as well as its ability to meet its financial obligations in a timely manner. This is expressed through simple rating symbols such as Aaa, A etc.


A Ranking on the other hand, is simply a classification (using information available in the public domain such as audited financial statements) of each financial institution/company on various indices such as total assets, core capital, pre-tax return on equity (ROE), pre-tax return on assets (ROA) to mention a few.


UBA was Ranked no. 1 I presume, not Rated no. 1

all this grammar self. Good luck to the million naira peeps out there. And those of us waiting to get there, all the very best.

@ Lanre,

I love your analysis cos with all that, i see no reason why they have no branch in China where they can open 3,000 branches and pay peanuts.

Pls I am not the baddie here I already said I am not a "FINANCIAL ANALYST"

NO name calling plsssss

hey, lets not lose sight of where we started. alright. UBA might hv been , (help me with the most -ve names u can fathom) the increase in salary is a step in the right direction. as for financial statements, we all know they are not infallible. they are sometimes falsified( e.g. Enron) Nobody said UBA was the best. Lets jsut be happy 4 our chaps working there!!!
is that asking to much?
i love the way y'all reason. THUMBS UP!!!

@ LanreDaMan,

Truly you did make mention that u r not a "FINANCIAL ANALYST", but the assertion u made was too AFFIRMITIVE.

Please read ur quote below:

, but this is enough to PROVE beyond ANY REASONABLE DOUBT THAT UBA IS THE BIGGEST BANK IN the COUNTRY AND WEST AFRICA

Guess u now understand the reaction of fellow nairalanders. Next time be careful with CHOICE OF WORDS, it's a very sensitive part of EFFECTIVE BUSINESS WRITING/COMMUNICATION.

Take care Lanre.

@ Obanikoro2,

Thanks for driving the point home. Investors need to know the KOKO! not just FIGURES!

what about the polytechnic graduates (ND & HND holders) on contract, did they increase their own pay too??

hello there does anybody know when UBA will do there intake for those that 3 interviews were done for?pls men cuz man is at home

I wonder wc is d highest paying bank at d moment, any ideas?

REALLY,LOOKIMG @THE SITUATION IN UBA,THEY 'VE BEEN EXPLOITING THEIR STAFFS,BECOS THEY ARE INCREASING IN STRENGHT EVERYDAY WHILE THE STAFFS DOING THE WORK ARE RECEIVING PEANUTS .THOUGH ,I AM HAPPY 4 THE CHAPS WORKING WITH UBA ,BUT TONY ELUMELU &CO SHUD HAVE DONE THIS FAR FAR B4 NOW.I KNOW SURELY THAT B4 ANOTHER INCREASE WILL COME,IT WILL B A LONG LONG TIME 2 COME,ONLY IF UBA MANAGEMENT COULD REPENT THAT SOME PEOPLE ARE DEDICATING THEIR LIFE 2 WORK 4 THEM.
AND CALLING THEM THE BEST BANK IS FALLACY.LOTS OF BANKS ARE MORE PROFITABLE ,JUST THAT THEY HAVE MORE BRANCHES.

That is dam too small, it is not competitive at all, when compared with industrial average. Wema Bank has just increases her new entrant pay from 1,200,000.00 to 1,800,000.00 and Bank PHB is paying almost 2,000,000.00

j

wayoo bank.monkey dey work, baboon dey chop

@ LanreDaMan

Have u ever heard of ROE (Oceanic bank has the highest for 2006 banking industry), ROA, LEVERAGE (Debt/equity mix), CASH FLOW ANALYSIS, Working capital need, interst cover, Asset turnover, Operating profit margin, return on operating assets?.

Financial Analysts have a 3RD EYE, that is why we are ANALYSTS!. WE DIG BEYOND THE SURFACE! Why do you think even the Mega banks like STANBIC, ZENITH, INTERCONTINENTAL BANK etc come to us for ANALYSIS.

My guy, this is my job, having even a MILLION BRANCHES, does not make u the BIGGEST BANK ANYWHERE IN THE WORLD! Compare UBA and THE WHOLE OF STANBIC's BRANCH IN AFRICA in terms of branch number, HABA. STANDARD BANK IS BIGGER THAN ALL NIGERIA'S 25 BANKS PUT TOGETHER! Na by SIZE?

Have u heard of the word economies of scale, and its demerit?

My! i am almost delivering a lecture on FINANCIAL ANALYSIS FOR FREE! Contact me for more details.

Why do u think when FINANCIAL ANALYSTS n CONSULTANTS are hired into a Bank, they are paid more than those that ve worked in the same bank for the same PERIOD. My guy they pay for the 3RD EYE SKILLS which ANALYST ve! YOU JUST can't BEAT THAT!

easy man. u sound like u dont know anything
Financial Analyst? My lil cousin knows about all you stated here. so just be cool with ur analysis mr.oga
Financial analysts hired in a bank? how does that sound?
the last time i checked a bank needs a lot of skilled professionals to drive the biz. Project Mgrs, Strategists, Marketers, Investment analysts, Accountants, IT speacialists and all are needed in a good bank.

thank u

@ Topic
UBA paing 70k per month? thats less than a week wage in a normal place
rubbish

@tkb or whatever u r called, it is obvious u live in the stone age. If your little cousin knows all these stuffs then WALL STREET shd have been saved. But unfortunately, people like you who think they know SOMETHING messed up the WHOLE WORLD!!!

Dont think u r smart by trying to put others down. From the tone of ur mail, it shows that u need HELP. Pls get some and stop deceiving that ur so called little cousin, cos u might just be GROOMING another WALL STREET DERIVATIVE DISASTER.

Hope u can comprehend this message.

I haven't been to nairaland for abt. a yr. cos I ve been busy doing financial analysis with reputable firrms like Agusto & Co. & PwC. So u shd know that ur little cousin and even u don't stand a chance in an intellectual battle with me.

Cheers.

MERRY XMAS and a great new year inadvance

@tkb or whatever u r called, it is obvious u live in the stone age. If your little cousin knows all these stuffs then WALL STREET should have been saved. But unfortunately, people like you who think they know SOMETHING messed up the WHOLE WORLD!!!

don't think u r smart by trying to put others down. From the tone of ur mail, it shows that u need HELP. please get some and stop deceiving that ur so called little cousin, because u might just be GROOMING another WALL STREET DERIVATIVE DISASTER.

Hope u can comprehend this message.

I haven't been to nairaland for about. a yr. because I ve been busy doing financial analysis with reputable firrms like Agusto & Co. & PwC. So u should know that ur little cousin and even u don't stand a chance in an intellectual battle with me.

Cheers.

MERRY XMAS and a great new year inadvance

hehehehehe
whos putting u down? like i said, be humble with ur ramblings!
my little cousin is ur match. i wouldnt say more than that

Agusto and pwC is where u do financial analysis? 
what can u posibly do with Bode Agusto mr man?
pwC? ure sick. na achievement be that?
where peeps don work bone for better place an I'm u dey take form for internet

abeg, i don pass that level. na money me dey count now. when we dey run CFA thread for this blog where u dey?
go siddon because those coys u mentioned can't pay ma bills!!

@tkb "DOES PAYING UR BILLS MEAN U HAVE A BRAIN?

Y just sounded like a F**L that u r!!! Only EMPTY BRAINS like u end up ruinning the investments of other people!!! What possibly could u have achieved than Bode Agusto, even if u r Sonnie Ayere of UBA Global Market, Omobola Johnson of Accenture or even Aig of Access or Ngozi Eweala.

Guy like u r more than sick as i said earlier on and u need HELP.

f**LS like you that have empty brains have caused this financial crisis because of sweet talk and empty brains. All ur ACHIEVEMENT in this WORLD is not worth the GOODWILL and FRANCHISE of PwC.

Guy whatever u do for a living, u r sure not going to going far with this talk, trust me.

As for CFA blog, hush, if u need lectures on CFA give me a call. For ur info I work with people who are AUTHORITIES in there field and not MOUTH MAKERS like u. EVEN if u r an MD or GM, damn u and ur lousy money (if what u have is maoney by my standard anyway)

HOPE TO HEAR FROM U AGAIN!!!
Cheers!!!

@tkb "DOES PAYING UR BILLS MEAN U HAVE A BRAIN?

Y just sounded like a F**L that u r!!! Only EMPTY BRAINS like u end up ruinning the investments of other people!!! What possibly could u have achieved than Bode Agusto, even if u r Sonnie Ayere of UBA Global Market, Omobola Johnson of Accenture or even Aig of Access or Ngozi Eweala.

Guy like u r more than sick as i said earlier on and u need HELP.

f**LS like you that have empty brains have caused this financial crisis because of sweet talk and empty brains. All ur ACHIEVEMENT in this WORLD is not worth the GOODWILL and FRANCHISE of PwC.

Guy whatever u do for a living, u r sure not going to going far with this talk, trust me.

As for CFA blog, hush,  if u need lectures on CFA give me a call. For ur info I work with people who are AUTHORITIES in there field and not MOUTH MAKERS like u. EVEN if u r an MD or GM, damn u and ur lousy money (if what u have is maoney by my standard anyway)

HOPE TO HEAR FROM U AGAIN!!!
Cheers!!!

talking about going far? its too late for me to be halted
is this all u could string 2geda? ure just a pathethic low lifer whos got no iota of decency.

give me lectures on CFA? thats a perfect innuendo coming from a slowpoke(i finished that way back. check old thread to figure that). Ur use of figs. of speech is excellent bar ur epileptic use of semantics in d way u carry ur message across. If u were to be interviewed by me, ill send u back to adult classes. Is this how u write for ur bosses? go to the Nigerian open Uni

as for how u like to drop names here. people of style don't do that. u can as well take ma name to the bank.
I'm sure one of those ur idols must have interfaced with moi one way or the other

next time, look for pederasts like u on ur street and teach them ROA and stuvvs
don't do it online. where did u study? one of the rotten schools we have here abi?
ur future is bleak. continue with ur asinine posts and make more mockery of an uninspiring solitary life u living
get a friggin fcking life dude
My spirit is low but ure charging me up. imme do this the hardest way next time hombre!!!

All ur ACHIEVEMENT in this WORLD is not worth the GOODWILL and FRANCHISE of PwC.

i laff in swahili. Thats true bruv
but thats a place i made a name!!!

ogs:

@tkb or whatever u r called, it is obvious u live in the stone age. If your little cousin knows all these stuffs then WALL STREET should have been saved. But unfortunately, people like you who think they know SOMETHING messed up the WHOLE WORLD!!!

don't think u r smart by trying to put others down. From the tone of ur mail, it shows that u need HELP. please get some and stop deceiving that ur so called little cousin, because u might just be GROOMING another WALL STREET DERIVATIVE DISASTER.

Hope u can comprehend this message.

I haven't been to nairaland for about. a yr. because I ve been busy doing financial analysis with reputable firrms like Agusto & Co. & PwC. So u should know that ur little cousin and even u don't stand a chance in an intellectual battle with me.
Cheers.

MERRY XMAS and a great new year inadvance

in my earlier life on NL, I would have cyber-slapped u hard that u will hate to come online for a month at least . . .

who cares where u have been and what the f@ck u have achieved in life, get it dumbo  . . . NL IS A LEVELLER !

do I need to tell u that in my own field, am an International figure highly regarded ? how does that change the price of Xmas hampers ? 

slow ur roll with ur mouth-making odious and puerile comments abeg ! 

in my earlier life on NL, I would have cyber-slapped u hard that u will hate to come online for a month at least . . .

who cares where u have been and what the f@ck u have achieved in life, get it dumbo . . . NL IS A LEVELLER !

do I need to tell u that in my own field, am an International figure highly regarded ? how does that change the price of Xmas hampers ?

slow ur roll with ur mouth-making odious and puerile comments abeg !

Kitaun Baba!!!
so much for this crazy kids we get for NL nowadays!!
wetin concern us with his financial analysis brouhaha.
hehehehe, na wa o
maybe the guy think say na oshodi park we dey wey im mouth dey foam like leper
orisirisi. abeg no e-slap am o so im boss go fit use am for tmr

ikman52000:

Its a good news to here that UBA has thought it wise to review its pay upwards. At least an Executive Trainee is now entitled  to 1 Million Naira per annum. This is in place of the 720,000 Naira per annum before. Translating to 49,000 Naira Monthly after all deductions. They can now smile home with about 70,000 Naira after deductions. Kudos Elumelu.
We should not just be hearing that the bank is the biggest but with less financial impact on the staff.

Although, the bank has not measured with its colleagues in terms of pay to staff, but this recent step is a good one in the right direction.

That's slightly over 40% in taxes, which is higher than the tax bracket in America for the highest wage earners.