Sterling Bank Salary Structure & Rank

Sterling Bank has increased salaries across various levels, following the salary increases at Wema Bank, GTBank, and Union Bank.

Entry-level staff now earn ₦528,000 net monthly, up from around ₦320,000, along with significant raises for other executive officers.

This salary adjustment follows a modest 7% increase in January that left employees feeling dissatisfied. Additionally, Nigerian banks are facing high employee turnover, as many workers are leaving for opportunities abroad.

APPLY: Banking Officers at Sterling Bank Plc

Sterling Bank Rank Structure:

The rank structure in Nigerian banks typically follows a hierarchical system, with employees progressing through various levels based on their performance, experience, and qualifications. Here’s a general overview of the typical rank structure in Nigerian banks:

• Executive Trainee (ET): Entry-level position for fresh graduates undergoing training.
• Assistant Banking Officer (ABO): Junior position responsible for basic banking operations.
• Banking Officer (BO): Handles more complex banking tasks and customer interactions.
• Senior Banking Officer (SBO): Takes on additional responsibilities and supervisory duties.
• Assistant Manager (AM): Manages a team and oversees daily operations.
• Deputy Manager (DM): Senior management role with increased responsibilities.
• Manager: Oversees a department or branch, responsible for strategic planning and execution.
• Senior Manager (SM): Higher management position with broader oversight.
• Assistant General Manager (AGM): Senior executive role with significant decision-making authority.
• Deputy General Manager (DGM): High-ranking executive position with extensive responsibilities.
• General Manager (GM): Top executive responsible for overall branch or department performance.

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Sterling Bank Salary Structure

Sterling Bank recently announced its second significant salary increase within a year. In January 2025, the bank implemented a 7% salary hike for all employee levels, attributing the change to inflation and the rising cost of living resulting from government reforms that have exacerbated economic hardships.

According to a report by TechCabal, the salary adjustments disclosed for various positions included Executive Trainees, Assistant Banking Officers, Banking Officers, Senior Banking Officers, and Assistant Manager.

• Executive Trainees: ₦528,000/month
• Assistant Banking Officers: ₦850,000/month
• Banking Officers: ₦1,030,000/month
• Senior Banking Officers: ₦1.1 million/month
• Assistant Manager: ₦1.1 million/month

Other Benefits and Allowance Packages for Sterling Bank Staff

Sterling Bank employees are not only remunerated on a basic salary. They are also compensated with other benefits and welfare packages. Below are some of the benefits that accompany the service:

• Medical Coverage
• Career Growth and Development Models
• Pension
• etc

How Much Wema Bank Graduate Trainee Salary?

Wema Bank’s graduate trainees participate in orientation programs and onboarding activities to familiarize themselves with the bank’s culture, policies, and procedures.

They also complete various training modules, workshops, and courses to enhance their technical skills, industry knowledge, and professional competencies.

Upon successful completion of their program, graduate trainees will be promoted to executive trainees, with a salary of ₦528,000 per month.

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