Aha, title got you there! Sorry, I couldn't think of anything more original for this post.
But really, this is what the post is about. Essentially, which is the best bank to work for, does anyone actually know?

There have been so many debates about which bank is best to work for, from FBN (the biggest) to Zenith (most glamorous) to PHB (best ads or whatever). Also, the yardsticks vary based on individual perception. Usually, people just put it down to who pays the highest. That's probably as good as any.

Anyway, a recent study I read about today in BusinessDay provides a pretty good picture of the best and worst banks to work for. The study, The Nigerian Banks Financial Transparency Report 2010, looked at the 14 banks not affected by the CBN indictments last year, and looked at what was disclosed as staff costs in their annual reports for 2009. Be warned though, banks are not great at disclosing their actual emoluments. However I think the data is pretty good in any case.

According to the data, GT Bank apparently is the best place to work for. They have the highest percentage of staff, about 57%, earning N4 million and above per annum. They also have a very good staff-earnings ratio (i.e. percentage of their earnings that goes back into staff costs); just over 10%. Diamond follows closely with 53% and 17% respectively for both categories. Surprisingly, the almighty Zenith has less than 40% of its staff earning over 40%. Ditto FBN, with less than 10%. The worst of all is Wema Bank with 0% of staff (this is likely not true) earning above N4 million per annum, and 56% of its OPEX made up of staff costs. Ouch.

So there you have it. If you work at GT, relax, cos your job is safe for now. However, I wouldn't be too sure about that if you work in FBN. Not only are you not getting a good deal, you might get fired if the recession bites harder. Maybe we should start looking at companies' annual reports before we go and interview there, just like when we want to buy their stock. If you want to secure your future, that might not be a bad idea.

My younger sister works for Citibank,she said she won't leave there for any other bank in Nigeria!.

denzel2009:

My younger sister works for Citibank,she said she won't leave there for any other bank in Nigeria!.

And your point is . . . ?

Zenith bank is quite low!

slap1:

And your point is . . . ?

. . . his sisters opinion is that citibank is the best bank to work for.

slap1:

And your point is . . . ?

I have never heard any complaints from their employees and customers.

Epiphany:

. . . his sisters opinion is that citibank is the best bank to work for. 

Yeah you got it. . . .

No bank really, cos the service rendered by all this bank are all the same, the only thing is that some banks do package themselves than others. but as for me i still would preferred to work in CBN

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https://www.nairaland.com/nigeria/topic-543822.0.html#msg7062634

My Dad works with Oceanic Bank and he is doing very very very well

oddy4real:

My Dad works with Oceanic Bank and he is doing very very very well

u shouldnot be here

My younger sister works for Citibank,she said she won't leave there for any other bank in Nigeria!.


And so what are you trying to say

I didnt see ETB here. When I left in 2008, entry level was 3,000,000 naira per annum and I am sure there was no salary cut for their staff like some other banks so why are they not on the list?

iyatrustee:

u shouldnot be here

So, where should i be??

wema bank is d best lol

kellylil 11 whats d code whatss your yahoo id,mine is owolabi underscore 2005 at yahoo . kom

oddy4real:

So, where should i be??

you should be in school! no offeinse

What about intercontinental Bank? You mean they are not the best bank in Nigeria? I thought inter pay their employees over N1million per month. what happened?

iyatrustee:

you should be in school! no offeinse

You should be in Elementary. No offense.

Finecat:

You should be in Elementary. No offense.

we should be in the same class i was only writing it the way Mr. Cork would have written it. any offeinse with that?

I have some friends who work for Discount Houses and they vowed that they cannot work for any bank. Though small in size, but they are very stable. I have not heard of any distress in that sector. I understand they are highly regulated like banks. FSDH and Kakawa are the leading DHs.

oddy4real:

My Dad works with Oceanic Bank and he is doing very very very well

how old are u? this is adult site not kids.

Finecat:

What about intercontinental Bank? You mean they are not the best bank in Nigeria? I thought inter pay their employees over N1million per month. what happened?

2good:

I didnt see ETB here. When I left in 2008, entry level was 3,000,000 naira per annum and I am sure there was no salary cut for their staff like some other banks so why are they not on the list?

This only covers banks that were not indicted by CBN last year.
ETB and Intercontinental were part of the banks indicted by CBN.

sirvick:

how old are u? this is adult site not kids.

So, Mr man, who is the kid and who is the adult? Guy, watch it o

Where is that bank called Useless Bank for Africa becos them sabi how to hide well, well?
Elumelu don teach them how to hide - Where are they here, the so-called Africa's global bank!

oddy4real:

So, Mr man, who is the kid and who is the adult? Guy, watch it o

oddy4real:

So, Mr man, who is the kid and who is the adult? Guy, watch it o

watch wat? U're a kid boy.

my candid advise for you is to look for another job not banking, because they are preditory elites, after finishing sucking your blood at the end the will tell you" YOUR SERVICE IS NO LONGER REQUIRED/ADVISE TO RESIGN. there is no professionalism on the job as at know.

definitely SKYE Bank.

I'll support Umukoro Community bank.
They are very stable

savanna bank, lol

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https://www.nairaland.com/nigeria/topic-543822.0.html#msg7062634

I'm not sure about this statistics

oddy4real:

My Dad works with Oceanic Bank and he is doing very very very well

your dad ko, your dad ni! the poster wrote "The study, The Nigerian Banks Financial Transparency Report 2010, looked at the 14 banks not affected by the CBN indictments last year" tht bank should not be discussed here

bank of the north? lol