Polaris Bank, defunct Skye Bank is a commercial bank licensed by the Central Bank of Nigeria on the 24th of September 2018. History of the bank dates back to 1989 when it was called Prudent Bank Plc. was incorporated as a limited liability company and in 1990, the bank was renamed merchant bank.
That same year, it re-branded as Prudent Merchant Bank Limited and fast forward to 2006, Prudent Merchant Bank Limited merged with Bond Bank Limited, EIB International Bank Plc, Reliance Bank Limited and Co-operative Bank Plc. to form Skye Bank Plc before being acquired by Polaris Bank in September 2018.
In this post we will be bringing to your finger tips, Polaris Bank salary structures. We will be revealing the following:
- Polaris Bank monthly salary structure
- How much Polaris Bank pay their entry level staff
- Polaris Bank monthly and annual salary scale for Senior Banking Officers.
These and many other related questions as regards Polaris Bank salary structure will be discussed here today.
We wrote a compelling article as regards the top 10 highest paying banks in Nigeria and their salary structures, the post hinted deeply about the general pay package of the banking sector in Nigeria, you can read it up and see other interesting facts about the top 10 biggest banks in Nigeria. Though Polaris bank does not currently rank among the elite players, with the new management takeover, they have what it takes to be rated among the top 10 highest paying banks in Nigeria in the nearest future.
Polaris Bank has in recent years maintained a very reasonable salary structure for staff, both junior and senior banking officers (SBOs), thanks to their Human resource management team.
Polaris Bank salary structure for entry level is in five (5) figures except for Senior banking officers who receive as much as 400,000 Naira and above excluding bonuses and other profit sharing that are accrued to staff, the table below explains in details, Polaris Bank salary structure for all staff and how much they pay.
This article will be more vital for not just fresh graduates seeking employment into Polaris Bank but also, experienced workers from other banks who have one reason or the other to make a switch to Polaris Bank since this post harps succinctly on Polaris Bank Bank Salary structures for fresh entry level graduates and experienced positions.
Polaris Bank pays contract staff around 55,000 Naira monthly and these category of staff are in no way entitled to promotions no matter the length of service in the bank.
One major take home point from this post is that it would help job seekers especially or individuals writing a project on Polaris Bank salary scale to have an idea of what the bank pays her staff.
For job seekers, when you are called up for am interview by the bank and asked the popular question ‘What is your salary expectation from Polaris Bank?’ at this stage, most job seekers are left completely confused as regards the exact amount to mention when quizzed and in as much as you do not want to pursue your interviewer with a high salary expectation knowing you practically do not have the required experience for the job especially for positions that require more than the number of years of experience you have so far, you also will not want to feel cheated and under paid so you are left in dilemma as to what exact salary to mention.
This article will help you cross that bridge effectively without hassles, you will be a able to mention Polaris Bank exact salary scale and 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.
From statistics, 70-80% of job seeker called upon by Polaris Bank 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.
The above become history when the job applicant is properly armed with the right information as regards how much Polaris Bank pay their entry level staff and even the SBOs (Senior Banking Officers).
Polaris Bank salary structure as discussed earlier so far may not currently rank among the best salary structures, however, it is still competitive.
So if you are thinking of applying for a job there, you are good to go. In as much as the bank pays reasonably well, you will agree with me that the responsibilities attached to working in the bank generally is enormous , therefore all hands must be on deck.
There have been several cases of inhumane treatment of bank staff by the management, Polaris Bank isn’t left out as this is a common practice among banks in Nigeria, they still are one of the recent active players in employment market and they must be given due recognition for this.
In summary, Polaris Bank salary structure for fresh entry level graduate is quite encouraging though could still be improved upon but bear it in mind the responsibilities attached to this job is quite demanding therefore, get your mind prepared.
How Much Does Polaris Bank Pay Their Graduate Trainee?
Upon gaining employment as a graduate in Polaris Bank, like other banks like Fidelity bank, Eco Bank, GTB, Zenith bank, First bank and other new generation banks, you will be required to attend a compulsory four (4) months Polaris Bank training school.
The training incorporates 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.
Towards the end of the 4 months compulsory training at Polaris Bank training school, all trainees will be sent on a two weeks compulsory attachment with various Polaris Bank branches within the city and upon completion of the training, successful trainees are selected while the unsuccessful are sent packing.
During this training trainees are not left penniless, they are paid of course. Polaris Bank pay their Graduate Trainees N35,000 monthly for the period of 4 months, this is to cater for their transport and other petty expenses.
How Much Does Polaris Bank Pay Their Entry Level Staff?
Now we are here, the crux of the article where we are about to expose what Polaris Bank salary structure for Entry level staff is all about. Those who have friends or relatives working with Polaris Bank would find this very interesting to know, don’t worry, keep calm as we are about to wet your appetite.
Polaris Bank Bank Monthly Salary Structure
So as discussed above, Polaris Bank as at today has one of the best salary structure for fresh graduates (Entry Level Staff).
Polaris Bank pay 95,000 Naira for Entry Level staff and this is excluding other bonuses and profit sharing usually carried out towards their financial year end. Most companies have their respective financial year end, it does not necessarily have to be traditionally 31st of December, it is calculated differently.
Polaris Bank Salary Structure For Entry Level Staff
| Management Level | Polaris Bank Monthly Salary | Polaris Bank Annual Salary Scale |
| Entry Level Staff | N95,000 | N1,140,000 |
Polaris Bank Salary Structure For Contract Staff
| Management Level | Polaris Bank Monthly Salary Scale | Polaris Bank Annual Salary Scale |
| Contract Staff Salary Scale | N55,000 | N660,000 |
The salary scale above is still active and running the above still in force, we hope this was informative enough and should you be in a position where you are quizzed how much Polaris Bank pay their entry level staff or senior banking officers, your contribution would hold waters 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 Polaris Bank salary structure would be much appreciated from other readers and individuals seeking information related to the salary range for the above positions.
