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).
First City Monument Bank (FCMB) is a popular bank but they are known to have very few branches in 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 one of our previous posts where we discussed about the top 10 highest paying banks in Nigeria of which other banks including FCMB salary structure were briefly discussed, we advised users of this account who for one reason or the other are in need to carry out any bank transaction to make use of any of the FCMB branches seen while in transit because you just might not find any again until you get to your destination.
Today’s our focus is on First City Monument Bank – FCMB salary structure for not just entry level staff but also for experienced staff who for one reason may be needing this information for negotiating a much favorable salary with their interviewer. In our previous topics as regards salary structures of various banks in Nigeria, we included salary structures for entry level and experienced staff so that of First City Monument Bank – FCMB will not be different.
We receive mails weekly from individuals most especially fresh graduates seeking employment in First City Monument Bank – FCMB and other new generation banks. Questions like; what is FCMB salary structure for entry level? what is the salary range First City Monument Bank pay their job seekers with 2 years and above experience? How much does FCMB pay entry level position? What is First City Monument Bank salary scale like? these and many other related questions as regards First City Monument Bank – FCMB salary structure will be discussed here today.
Thankfully, First City Monument Bank – FCMB ranks among the of top 10 highest paying banks in Nigeria, not many are aware of this. First City Monument Bank – FCMB pay above a hundred Thousand (100,000) Naira for their entry level position, as you read on, you will see the exact figure (take home pay) that Entry Level staff at FCMB takes home monthly.
Please note that the term Take Home Salary comes up after all necessary deductions like PAYE Tax, Pension and others have been calculated, the balance is referred to as the take home pay of the staff. It is not a term associated with just banks but all organizations in the world at large.
First City Monument Bank – FCMB has over the years maintained a high salary structure for all category of staff, they have a magnificent Human resource management team. Thumbs up to them.
FCMB salary scale for entry level position and Senior banking executives are both six figures but of course experienced positions receives almost time 3 of what Entry level staff are paid though this also depends on the level of the experienced positions in question.
Senior banking officers at FCMB take home nothing less than 500,000 thousand naira and above excluding other bonuses. We have provided a very descriptive table below which stats in clear terms, how much First City Monument Bank pay both Entry level position and experienced staff.
This post “First City Monument Bank – FCMB salary structure” is most vital for fresh graduates seeking employment into this financial institution, though experienced staff from other banks who for one reason or the other want to make a switch to FCMB can also benefit from this as this would place them in a pole position during interview session with the bank Human resource
From experience, during interview session at FCMB, the interviewees are most often scared of mentioning a high salary figure, in fact they feel more at peace with themselves by choosing amounts that are way lower than the industry rate just to stand a higher chance of getting the job, this is a very disastrous move, as this places your value below what is required by the bank. You must be able to mention a salary figure which is within the industry rate for the position you applied for.
Recent statistics have proven that between 70% to 80% of job seeker tend to price themselves lower than their actual worth in order to stand a better chance of being called for the job and in the long run, this will have a retrogressive effect on their jobs and overall performance of the staff because job dissatisfaction sets in based on the salary scale being placed on.
This article (FCMB Salary Structure) will help you cross that bridge the gap with ease. Do you know that during interview sessions, giving the right answers to questions asked overrides the so called required experience needed for the job because you already are being quizzed for the position in which you applied for.
The above become history when the job applicant is properly armed with the right information as regards how much First City Monument Bank pay their entry level staff receive as monthly salaries.
First City Monument Bank salary structure as discussed earlier so far ranks as one best and if you are thinking of applying for a job there, you are good to go. In as much as they pay well, working First City Monument Bank is saddled with a lot of responsibilities. A colleague that works in the Audit department made it clear to make that everyone is practically a marketer.
Due to the incessant rise in the maltreatment of bank workers, the sector has been named the number one in the area of employee turnover, either they are sacked or employees resign. Unrealistic targets, high risks involved with handling electronic funds, insecurity (killing of staff during bank robberies) and undue pressure are the main reason for the high rate of employee turnover in the banking industry today. However, work must go on as the popular saying goes “Soldier come soldier go, barracks no dey empty”.
In summary, First City Monument Bank (FCMB) salary structure for Entry level position is good enough though could still be improved upon but bear it in mind the responsibilities and other uncontrollable factors attached to this job is quite demanding.
How Much Does First City Monument Bank (FCMB) Pay Their Graduate Trainee?
Upon gaining employment into FCMB with a B.Sc or HND certificate with zero (0) years of post NYSC experience, you will be required to attend a compulsory four (4) months First City Monument Bank (FCMB) bank training school.
The FCMB training you will undergoes will be a mixture of both theoretical, practical and real life training which gets the newly employed prepared for the task ahead and adjust with the internal workings of the bank.
At the end of the 4 months compulsory training, the coordinator as approved by the management of the bank will place trainees on compulsory attachment with various Unity Bank branches within the city and upon completion of the training, successful trainees are selected while the unsuccessful trainees are asked to leave.
First City Monument Bank (FCMB) pay their Graduate Trainees N42,000 monthly for the 4 months training, this is to take care of their transport and feeding majorly during the training session
How Much Does FCMB Pay Their Entry Level Position?
Now we are here, the crux of the article where we are about to reveal what FCMB salary structure for Entry level position is all about. Those who have friends or relatives working with First City Monument Bank would find this very interesting to know, don’t worry, keep calm as we are about to wet your appetite.
First City Monument Bank Monthly Basic Salary Take Home 2024
So as discussed above, FCMB as at today has one of the best salary structure for Entry Level position.
FCMB pay Entry level position 115,000 Naira monthly as their take home pay after all deductions have been calculated.
FCMB Salary Structure For Entry Level Staff
| Management Level | FCMB Monthly Salary | FCMB Annual Salary Scale |
| Entry Level Staff | N115,000 | N1,380,000 |
FCMB Salary Structure For Graduate Trainees At Training School
| Management Level | FCMB Monthly Salary Scale | FCMB Salary Structure for 4 Months |
| Graduate Trainees | N42,000 | N168,000 |
This Unity Bank salary structure above is still active for all Entry Level staff position. We hope this was informative enough and should you be in a position where you are quizzed how much Unity Bank pay their entry level staff, your contribution would be of great importance based on the above information so far.
Kindly note that your opinion as regards the above matters to us, also, any information at your disposal related to Unity Bank salary structure would be much appreciated from other readers and individuals seeking information related to Unity Bank salary range for the above positions.
