My guy is a banking officer (BO) in one of the international banks in Nigeria. He got an offer from GTB last week to join them on Asst Banking Officer (ABO) grade. His new salary (at GTB) will however be over 50% higher than his present salary.

Right now, he is more in favour of accepting the offer, but am just wondering if that’s the right thing to do.

Would you do it?

What is the actual salary? And which of the international banks, we have only 3 of them in Nigeria

^^^ Dont want to call names in here.

Why not? A Yoruba adage says ''Ilesanmi dun 'joye lo''! What is point of a 'take-home' that cannot take you home? What is key is not the grade but what the salary can do for you to realise your dreams. I can bet it that the Int'l Bank you are referring to is Stanbic!

adesteve: Why not? A Yoruba adage says ''Ilesanmi dun 'joye lo''! What is point of a 'take-home' that cannot take you home? What is key is not the grade but what the salary can do for you to realise your dreams. I can bet it that the Int'l Bank you are referring to is Stanbic!

Stanbic ke? Do they pay that lowly?

T22

adesteve: Why not? A Yoruba adage says ''Ilesanmi dun 'joye lo''! What is point of a 'take-home' that cannot take you home? What is key is not the grade but what the salary can do for you to realise your dreams. I can bet it that the Int'l Bank you are referring to is Stanbic!

i think it is the one other than the two that their names start with 'S'.

adesteve: Why not? A Yoruba adage says ''Ilesanmi dun 'joye lo''! What is point of a 'take-home' that cannot take you home? What is key is not the grade but what the salary can do for you to realise your dreams. I can bet it that the Int'l Bank you are referring to is Stanbic!

nitrogen: i think it is the one other than the two that their names start with 'S'.

Bros... e be like say una don hear the Stanbic gist... lol!

There are three non full naija banks in Nigeria

Standard Chartered
Citi
Standard Bank (Stanbic IBTC)

I suspect the OP is not talking about Standard Chartered Bank because international graduates at Standard Chartered get as much as 45-50K Dollars per annum. Unless the guy in question did not enter through the IGP program. Non IGP employees at Standard Chartered are not that well remunerated.

I don't really have the full gist about Citi, but I hear NYSC people there get 40-50K naira per month. From this, one can guess that full time workers should earn well. I may be wrong though. What is really shocking to me is Stanbic's pay. So they pay roughly 50% less than GTB for even a higher position? That is really very poor.

OP, the only time I will not leave such a job for a better paying job is when I am an international graduate at Standard Chartered Bank. Otherwise, I will simply go to GTB. After all, GTB is itself one of the all time healthy banks in Nigeria since its inception.

But, let's look at things from another dimension. How long does it take to move from ABO to BO at GTB? Another question, what is the next level after BO at the so called international bank? And how long does it take to move to this next level? What is the pay attached to this level?

I ask these questions because we need to thoroughly look at your friend's options from every possible angle before we pass a recommendation.

T22

Stanbic ibtc pay can't be compared to other banks like gtb, firstbank and etc. I currently work there and i know what i'm talking. BM's of stanbic and GTB can never be compared in terms of pay. Even my BM doesn't hide is pay can't be compared with his level at other banks. When i read the OP, I knew the bank he was referring to.

boneruns: Stanbic ibtc pay can't be compared to other banks like gtb, firstbank and etc. I currently work there and i know what i'm talking. BM's of stanbic and GTB can never be compared in terms of pay. Even my BM doesn't hide is pay can't be compared with his level at other banks. When i read the OP, I knew the bank he was referring to.

Then i was right with my first post here.

You guys are right in here.

The next level in the current bank is SBO and the guy is looking good for promotion by next March. Interestingly, new pay for SBO may not be higher than GT's ABO. Moving to GT however means starting afresh in the race for promotion, and as one of the guys that interviewed him at GT stated, he has people who have not been promoted for 4yrs.

boneruns: Stanbic ibtc pay can't be compared to other banks like gtb, firstbank and etc. I currently work there and i know what i'm talking. BM's of stanbic and GTB can never be compared in terms of pay. Even my BM doesn't hide is pay can't be compared with his level at other banks. When i read the OP, I knew the bank he was referring to.

[color=#000099[b]]Your statement is vague.It's hard to decipher whether you are corroborating claims that Stanbic pays lower or higher than the other banks.[/color][/b]

kasperone8:

[color=#000099[b]]Your statement is vague.It's hard to decipher whether you are corroborating claims that Stanbic pays lower or higher than the other banks.[/color][/b]

Exactly. Couldnt deduce what is needed from his posts.

^^^ Mentioned banks pay wayyyyyyyyyyyy higher than Stanbic.

stanbic really messes up in term of pay. can u believe when I was there my BM earned less than what ABO at gtb earned. its just annoying. but from the AM level the pay approaches industry average.
OP one good thing with stanbic is if u perform ur promotion is 'almost' certain, coupled with the stanbic 'efizzy' other than that notting dey.

BIGER BOY: stanbic really messes up in term of pay. can u believe when I was there my BM earned less than what ABO at gtb earned. its just annoying. but from the AM level the pay approaches industry average.
OP one good thing with stanbic is if u perform ur promotion is 'almost' certain, coupled with the stanbic 'efizzy' other than that notting dey.

Biger boy, so you were one of them? Interesting.

How much do the analysts in their investment banking arm earn? There are many oyinbo accented analysts in their IB. I really don't think those big guys and chicks will earn 400k per month. They sound too sophisticated to be paid crap, especially that their Head of Research...See the chick here


https://www.youtube.com/watch?v=1YjDve9uDfw .

Another analyst here



https://www.youtube.com/watch?v=B54xTlQtaO0

These people don't look 300k to me.

T22

If stanbic's pay is so poor, how come most of their mid level staffs drive honda city (worth 2.8m from honda place)? i know its on finance but remember, no employer will offer such a facility without a reasonable amount of money left after deductions. No employee will even take it..

Fidelity bank pays an ABE - 4.5m.....BE- 5.4m...Stanbic pays more than fidelity. Fidelity pays more than FCMB..No way on earth will GT's pay be 50% higher than stanbic.

Guys, your mode of entry, assessment score and further development counts for promotion.

Get your facts right. Dont be discouraged!

Okay, bank work abi? wait for me am coming.

mehn.. he has to be careful anyway sha because the way they handle promotion stuff for people coming from other banks ehen, he might get frustrated oo.