Do you intend working in the banking sector? it is very necessary to have an insight about the salary scale of the bank you want to work with. This article takes an inside look into how much FCMB staff are being paid monthly and how much it amounts to annually.
First City Monument Bank commonly referred to as FCMB is categorized under the term “New Generation Bank” in Nigeria. The bank was established on the 20th of April 1982 and till date it has grown to a big player in the Nigerian Banking industry with total assets valued at US$$3.65 billion (NGN:593.3 billion).
FCMB is known for excellence in service delivery and customer satisfaction. Their policy statements and personalized products and services connote a high consideration towards customer preferences. Furthermore, FCMB staff are one of the best paid in the country.
According to Schoolings, FCMB is a popular bank but they are known to have very few branches Nationwide, but that is not to discredit the bank’s efficiency and their customer-centric approach and the value they place on their Human resources.
In most cases, during the interview session, you might come across questions like “How much do you intend receiving as your salary?”. This alone is enough reason why you should read this article so you can give your answer in line with their salary structure (not above what they pay staff of your level, and not below as well).
FCMB Salary Structure
It is understandable that many want to know how much FCMB pays its marketing officers. In the banking system, the cashiers and marketers face a lot of stress. According to MySalaryScale, the average net salary for Marketing Officer at First City Monument Bank (FCMB), Nigeria is ₦38,000 in a month and #456,000 in a year. This is at entry level though.
2. Graduate Trainees
No regular person working in a bank enters the system without undergoing some sort of training. Every bank makes training compulsory. At First City Monument Bank, graduate trainees or interns get paid N46,000 per month while their annual income amounts to #552,000. The training lasts for more than 1 month, but less than 1 year.
3. Contract Staff
Those that falls under this category also receive an attractive pay from the bank, and the kind of persons that work as contract Staff include; Corp members of the NYSC scheme, students running internship program, and also individuals who have the passion to work in the sector but with limited knowledge.
These persons are being paid N58,000 which sum up to #696,000 yearly.
4. Entry Level Staff
On completion of your training at First City Monument Bank, you become an entry level staff, and your salary will be increased. Entry level staffs at First City Monument Bank get paid N115,000 per month. This monthly salary amounts to N1,380,000 per annum.
5. Customer Care Service Representative
Those working as customer care representative are paid up to #124,000 on monthly basis amounting to #1,488,000 in a year.
6. Relationship Officer
Those working under this portfolio receives #267,000 every month giving a total of #3,204,000 yearly.
7. Loan Officers
The salary received by Loan officers at the bank is a lot more than that of entry level staffs. Loan officers at First City Monument Bank get paid N541,000 per month. This monthly salary sum up to N6,492,000 per annum.
8. Credit Analysts
Only a few people become credit analyst, compare to the total number of people working in the bank. Credit Analysts however get paid a very handsome salary of N610,000 per month. This monthly salary is the same as N7,320,000 per annum.
9. Branch Managers
The aspiration of many bank workers is becoming a branch manager some day. Every bank worker wants this position because of the fat salary earned by branch managers. Branch managers at First City Monument Bank earn N690,000 per month which amounts to more than #7million annually. Apart from their monthly salary, they are also offered juicy allowances more than other staffs.
With the above figures, I am sure you can see it won’t be a bad idea working for FCMB.
As with other companies, FCMB as well as other banks pay for quality service delivery. The bank may decide to underpay someone when his or her service delivery is reviewed and discovered that it does not match up to the standard remuneration, they could also overpay the one who works tirelessly to ensure quality service delivery.