₦airaland Forum

Assistant Banking Officer - N850k+
Banking Officer - almost N1m

Monthly Net!

Another win for 9-5

Sterling Bank

Sterling Bank raises salaries again

When the Japa wave—Nigeria’s mass exodus of talent—began, one of its most significant consequences was brain drain. Many industries lost top professionals, and the banking sector was hit particularly hard.

For Nigerian banks, the challenge was twofold: they were losing talent not just to emigration but also to fintechs, which offered competitive salaries—sometimes double what banks paid.

Now, banks are responding. In January, we reported that Sterling Bank, a tier-2 Nigerian bank, raised staff salaries by 7% and paid a cost-of-living adjustment (COLA) stipend; however, the meagre increase did not sit well with its employees who have seen other banks like GTBank, Union Bank, and Zenith Bank all increase salaries by 20%–40% in the last few months. In response, Sterling Bank increased salaries again by 35% on Wednesday. These pay hikes come at a crucial time when Nigeria is grappling with its worst cost-of-living crisis in decades, with inflation soaring; retaining talent has never been more urgent.

But for Sterling Bank, these salary adjustments aren’t just about retention—they are central to its broader vision. While best known for its banking operations, Sterling is aggressively expanding into fintech, asset financing, and even electric vehicles. Leadership sees talent retention as critical to executing this strategy.

Under the new structure, executive trainees (entry-level employees) will now earn ₦528,000 ($352) net monthly.

Assistant Banking Officers (ABO) will take home about ₦850,000 ($567),

while Banking Officers (BO) will see their salaries rise from ₦700,000 ($467) to ₦1,030,000 ($687).

Senior Banking Officers (SBO) will now earn ₦1.1 million ($733),

and Assistant Managers (AM) will receive ₦1.3 million ($867) per month.

These raises reflect the bank’s commitment to attracting and keeping the best talent as it deepens its footprint in fintech and asset financing.

But the big question remains: Will this be enough to stop top talent from leaving?

For those asking, below is the Grading system in an average Nigerian Bank and their average salaries straight from after NYSC.

NB - the average year expected to stay on a grade is not absolute, rather it is just a projection based on experience.

Many factors determine how fast or slow you get promoted.

It is important to note that some Roles grow faster than the others (especially if you bring money to the bank)

9-5 is a goal.

turmacs:
Rubbish. If most of them know how much some of those Instagram and TikTok baddies dey earn a night, them go leave all this rubbish and become serious with their life.

turmacs:
Rubbish. If most of them know how much some of those Instagram and TikTok baddies dey earn a night, them go leave all this rubbish and become serious with their life.

turmacs:
Rubbish. If most of them know how much some of those Instagram and TikTok baddies dey earn a night, them go leave all this rubbish and become serious with their life.

MadPolitician:
The marketers nko?
The ones that walk from mainland to island "looking for customers". Where do they belong?
Those gals that will sell their "everything" to meet up with the "cabal" abi wetin..
I pity those gals. They don hear inwii
If your fiancee is doing that job, get her a new job or just let her go..

turmacs:
Rubbish. If most of them know how much some of those Instagram and TikTok baddies dey earn a night, them go leave all this rubbish and become serious with their life.

spiSeyi:
Dem no recognize them .. banks treat their marketers like folks who sell gala in the traffic