Heritage Bank Salary Structure In Nigeria (2021)

This article is about Heritage Bank salary structure in Nigeria this 2021 in order to know just how much this top commercial bank pays a select group of its employees per month. This post is beneficial to people who have the ambition of working at this financial institution and we have done our best to state the estimated earnings in order to give the general public an idea of what the payment structure of employees in this company is like. Do kindly read along to get the necessary details.

Heritage Bank Salary Structure In Nigeria

HERITAGE BANK NIGERIA: COMPANY OVERVIEW

Heritage Bank Plc. (HB PLC) is a Nigerian financial services institution. It is one of the top commercial banks in the country that is licensed to operate by the Central Bank of Nigeria (CBN), the country’s banking regulator, with a national operating license. Heritage Bank offers retail banking, corporate banking, online/internet banking, investment banking and asset management service, and it is headquartered at 292B, Ajose Adeogun Street, Victoria Island, Lagos State.

Heritage Bank Nigeria was established in the late 1970s as Societe Generale Bank (Nigeria) (SGBN), by the late Dr. Olusola Saraki, father of Nigeria’s former Senate President, Bukola Saraki and operated from that time until January 2006 when the Central Bank closed down SGBN on account of failure to meet up with the new minimum capital requirements of US$155 million (₦25 billion) for a National Bank.

SGBN successfully challenged the closure in court, and in December 2012, the CBN re-issued the company’s banking license, but only as a regional bank. Having acquired the banking license, the new ownership rebranded the bank as Heritage Banking Company Limited and opened for business under the new name on March 4, 2013.

In October 2014, Heritage Banking Company Ltd successfully met the requirements of the Asset Management Corporation of Nigeria (AMCON) and the Central Bank of Nigeria (CBN) toward owning 100% shares in Enterprise Bank Ltd, and on January 27, 2015, AMCON officially transferred ownership of Enterprise Bank Ltd to Heritage Bank Plc.

HERITAGE BANK SALARY STRUCTURE IN NIGERIA 2021: HOW MUCH HERITAGE BANK PAYS STAFF

As we proceed, we will discover just how much Heritage Bank Nigeria pays their members of staff per month this 2021, and we have taken out time to discuss the various take home pay of contract workers, graduate trainees, entry level staff, as well as senior banking officers (SBOs). We will also give the estimated figures that Bank branch managers at Heritage Bank are paid so as to give you an idea of what to expect at this top financial institution in the country should you be employed there.

HERITAGE BANK NIGERIA SALARY STRUCTURE FOR CONTRACT STAFF

Just like every other bank in Nigeria, Heritage Bank employs contract staff for certain job functions. These category of workers are not permanent members of staff and they are contracted to the bank for a particular period which may span years pending when they are confirmed as permanent staff.

At Heritage Bank (Nigeria) Plc, contract workers are paid monthly salary between the range of ₦55,000 – ₦60,000 or more this 2021 depending on the recruiting company, and this totals yearly salaries between ₦660,000 – ₦720,000.

GRADUATE TRAINEE SALARY STRUCTURE AT HERITAGE BANK NIGERIA

Graduate Trainees at Heritage Bank Nigeria are paid about ₦35,000 – ₦45,000 every month throughout the duration of their trainee programme, and their pay packet is improved upon when they are permanently staffed via entry level. Graduate trainees are groomed to take up different positions in different departments at the bank. This training usually lasts for a period of 4 months.

HERITAGE BANK NIGERIA SALARY STRUCTURE FOR ENTRY LEVEL STAFF 

On the average, the basic salary structure for entry level workers at Heritage Bank in Nigeria this 2021 is about ₦105,000 per month. Entry level salaries for employees at Heritage Bank in Nigeria today ranges around the pay scale between ₦95,000 – ₦120,000 monthly.

HERITAGE BANK NIGERIA SALARY STRUCTURE FOR SENIOR BANKING OFFICERS

Senior Banking Officers (SBOs) at Heritage Bank Nigeria are high ranking banking professionals at this financial institution. They earn monthly payments in the range between ₦300,000 – ₦400,000 per month and this totals ₦3.6 million – ₦4.8 million per year.

SALARY STRUCTURE OF BRANCH MANAGERS AT HERITAGE BANK

The branch manager is the highest ranking employee at any branch of Heritage Bank in Nigeria. Because of the nature of their jobs which includes overseeing the day-to-day running of the bank at branch level and taking key decisions, they are paid really high.

Branch managers at Heritage Bank Plc in Nigeria are paid estimated basic monthly salaries between ₦500,000 – ₦650,000 per month. This totals between the range of ₦6 million – ₦7.8 million every year.

CONCLUSION

All figures listed above are estimates, they may be more or less but they generally reflect what banks pay their members of staff currently. Allowances and bonuses add significantly to the salary of bank workers in Nigeria today.

The Author

Maduawuchi Obialo

Maduawuchi Obialo is the founder of Nigerian Guide and an Editor at Nigerian Infopedia. He is a professional Web Content Developer and a Biochemist.

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