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Bank Branch Manager Average Salary in Nigeria 2024

How much money does a person working as Bank Branch Manager make in Nigeria?

Average Monthly Salary
586,000 NGN
( 7,030,000 NGN yearly)

All salary figures displayed here are per month except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working as Bank Branch Manager in Nigeria typically earns around 586,000 NGN. Salaries range from 299,000 NGN (lowest) to 902,000 NGN (highest).

Salary Variance

This is the average salary including housing, transport, and other benefits. Bank Branch Manager salaries in Nigeria vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Bank Branch Manager Pay Scale and Salaries in Nigeria

Median and salary distribution Nigeria Bank Branch Manager monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
535,000 NGN or more
10% of people earn
475,000 to 535,000 NGN
20% of people earn
343,000 NGN or less
65% of people earn
343,000 to 475,000 NGN
Minimum Salary
299,000 NGN
537,000 NGN
902,000 NGN

Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries for the position Bank Branch Manager in Nigeria range from 299,000 NGN (starting salary) to 902,000 NGN (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.

  • Median Salary

    With a median salary of 537,000 NGN, half of the professionals who work as Bank Branch Manager in Nigeria earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.

  • Percentiles and Salary Scale

    The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Bank Branch Manager in Nigeria earn less than 443,000 NGN, while 75% earn more. Similarly, the chart shows that 75% earn less than 611,000 NGN while 25% earn more.

  • Pay Scale Structure

    To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Bank Branch Manager in Nigeria compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 343,000 NGN to 475,000 NGN. About 20% of salaries are below the 343,000 NGN mark, while 10% fall within the range of 475,000 NGN to 535,000 NGN. Only 5% of individuals have salaries exceeding 535,000 NGN.

Salary Comparison by Years of Experience / Bank Branch Manager / Nigeria

How do experience and age affect pay?

0 - 2 Years
335,000 NGN
2 - 5 Years+31%
437,000 NGN
5 - 10 Years+40%
612,000 NGN
10 - 15 Years+20%
736,000 NGN
15 - 20 Years+9%
799,000 NGN
20+ Years+8%
863,000 NGN
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Nigeria Bank Branch Manager
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The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Bank Branch Manager and this is what we found.

All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 335,000 NGN.

While someone with an experience level between two and five years is expected to earn 437,000 NGN, 31% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 612,000 NGN, 40% more than someone with two to five years of experience.

Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 736,000 NGN, 20% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 799,000 NGN, 9% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 863,000 NGN, 8% more than people with fifteen to twenty years of experience.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Salary Comparison By Education / Bank Branch Manager / Nigeria

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Bank Branch Manager.

Bachelor's Degree
413,000 NGN
Master's Degree+77%
733,000 NGN
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Nigeria Bank Branch Manager
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We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Bank Branch Manager in order to make a comparison.

Level 1: Bachelor's Degree

Employees at this education level have an average salary of 413,000 NGN.

Level 2: Master's Degree

At this level, the average salary becomes 733,000 NGN, 77% more than the previous level.

Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Nigeria costs anywhere from 1,700,000 NGN to 5,100,000 NGN and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Salary and Compensation Comparison By Gender / Bank Branch Manager / Nigeria

Salary comparison by gender Nigeria Bank Branch Manager monthly
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Bank Branch Manager in Nigeria, the average difference between the salary of male and female employees is 19%.

638,000 NGN
538,000 NGN
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Nigeria for all Careers

Salary comparison by gender monthly Nigeria
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Average Annual Salary Increment Percentage / Bank Branch Manager / Nigeria

How much are annual salary increments in Nigeria for individuals working as Bank Branch Manager? How often do employees get salary raises?

Individuals working as Bank Branch Manager in Nigeria are likely to observe a salary increase of approximately 13% every 19 months. The national average annual increment for all professions combined is 8% granted to employees every 19 months.

Annual Salary Increment Rate Nigeria Bank Branch Manager
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Nigeria / All Professions

Annual Salary Increment Rate Nigeria
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The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency

The average salary increase in one year (12 months) in Nigeria is 5%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.

Bonus and Incentive Rates / Bank Branch Manager / Nigeria

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Nigeria Bank Branch Manager
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23% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 77% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 8% of their annual salary.

Received Bonus
No Bonus

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus, where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.

What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

A graphics designer working for a graphics designing company.

A graphic designer in the marketing department of a hospital.

Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Average Hourly Wage / Bank Branch Manager / Nigeria

3,380 NGN per hour

The average hourly wage (pay per hour) for individuals working as Bank Branch Manager in Nigeria is 3,380 NGN.This is the rate they get paid for every worked hour.

Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

About The Hourly Pay Rate

The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working as Bank Branch Manager in Nigeria is 1,720 NGN. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
AML Analyst529,000 NGN-10%
Assistant Bank Branch Manager455,000 NGN-22%
Assistant Bank Manager572,000 NGN-2%
ATM Manager512,000 NGN-13%
ATM Service Technician135,000 NGN-77%
Bank Accounts Analyst190,000 NGN-68%
Bank Accounts Collector120,000 NGN-80%
Bank Accounts Controller253,000 NGN-57%
Bank Accounts Executive360,000 NGN-39%
Bank Accounts Manager442,000 NGN-25%
Bank Auditing Manager418,000 NGN-29%
Bank Branch Manager586,000 NGN+0%
Bank Branch Operations Coordinator257,000 NGN-56%
Bank Clerk113,000 NGN-81%
Bank Client Service Associate168,000 NGN-71%
Bank Collector125,000 NGN-79%
Bank Compliance Specialist328,000 NGN-44%
Bank Manager666,000 NGN+14%
Bank Operational Risk Manager687,000 NGN+17%
Bank Operations Head741,000 NGN+27%
Bank Operations Officer273,000 NGN-53%
Bank Operations Specialist442,000 NGN-25%
Bank Process Manager411,000 NGN-30%
Bank Product Manager 452,000 NGN-23%
Bank Programme Manager496,000 NGN-15%
Bank Project Manager565,000 NGN-4%
Bank Propositions Manager482,000 NGN-18%
Bank Quantitative Analyst365,000 NGN-38%
Bank Regional Manager761,000 NGN+30%
Bank Regional Risk Officer369,000 NGN-37%
Bank Relationship Manager535,000 NGN-9%
Bank Relationship Officer249,000 NGN-57%
Bank Sustainability Analyst420,000 NGN-28%
Bank Teller121,000 NGN-79%
Banker255,000 NGN-56%
Banking Business Analyst372,000 NGN-36%
Banking Business Development Officer232,000 NGN-60%
Banking Business Planning Executive541,000 NGN-8%
Banking Data Analyst413,000 NGN-29%
Banking Product Manager450,000 NGN-23%
Banking Reference Data Manager418,000 NGN-29%
Banking Regulatory Compliance Officer449,000 NGN-23%
Banking Risk Analyst347,000 NGN-41%
Banking Technical Analyst192,000 NGN-67%
Bankruptcy Coordinator252,000 NGN-57%
Bill and Account Collector129,000 NGN-78%
Blockchain Analyst302,000 NGN-48%
Blockchain Architect372,000 NGN-36%
Blockchain Auditor316,000 NGN-46%
Blockchain Compliance Analyst346,000 NGN-41%
Blockchain Consultant348,000 NGN-41%
Blockchain Trade Facilitator298,000 NGN-49%
Budget Analyst360,000 NGN-39%
Capital Risk Manager695,000 NGN+19%
Cards Marketing Manager448,000 NGN-23%
Cash Management Manager621,000 NGN+6%
Check Processing Manager486,000 NGN-17%
Chief Blockchain Officer412,000 NGN-30%
Commercial Vault Associate347,000 NGN-41%
Corporate Banker256,000 NGN-56%
Corporate Dealer382,000 NGN-35%
Credit Analyst284,000 NGN-52%
Credit and Collections Manager473,000 NGN-19%
Credit Card Fraud Investigator384,000 NGN-34%
Credit Portfolio Manager659,000 NGN+13%
Credit Risk Analyst424,000 NGN-28%
Credit Risk Associate391,000 NGN-33%
Cryptocurrency Accountant235,000 NGN-60%
Cryptocurrency Adviser438,000 NGN-25%
Cryptocurrency Analyst348,000 NGN-41%
Cryptocurrency Compliance Manager414,000 NGN-29%
Cryptocurrency Trader393,000 NGN-33%
Digital Banking Manager517,000 NGN-12%
Digital Currency Analyst375,000 NGN-36%
Direct Bank Sales Representative253,000 NGN-57%
Exchange Control Consultant398,000 NGN-32%
Executive Account Analyst347,000 NGN-41%
Financial Bank Planning Consultant469,000 NGN-20%
Financial Banking Analysis Manager534,000 NGN-9%
Financial Banking Assistant183,000 NGN-69%
Financial Banking Systems Manager502,000 NGN-14%
Foreign Exchange Manager515,000 NGN-12%
Fraud Analyst398,000 NGN-32%
Fraud Detection Associate270,000 NGN-54%
Fraud Detection Manager585,000 NGN-0%
Fraud Detection Supervisor313,000 NGN-47%
Internal Bank Audit Manager663,000 NGN+13%
Internal Bank Auditor338,000 NGN-42%
Internal Private Banker264,000 NGN-55%
International Banking Manager758,000 NGN+29%
Investment Banking Analyst515,000 NGN-12%
Loan Analyst368,000 NGN-37%
Loan Area Manager425,000 NGN-27%
Loan Audit Team Leader398,000 NGN-32%
Loan Branch Manager418,000 NGN-29%
Loan Business Development Officer216,000 NGN-63%
Loan Clerk134,000 NGN-77%
Loan Collection and Recovery Manager460,000 NGN-21%
Loan Collection Manager435,000 NGN-26%
Loan Collector120,000 NGN-80%
Loan Examiner154,000 NGN-74%
Loan Officer144,000 NGN-75%
Loan Processing Manager403,000 NGN-31%
Loan Processor161,000 NGN-73%
Loan Quality Assurance Auditor384,000 NGN-34%
Loan Quality Assurance Manager410,000 NGN-30%
Loan Quality Assurance Representative262,000 NGN-55%
Loan Review Manager419,000 NGN-28%
Loan Team Leader359,000 NGN-39%
Loans Manager477,000 NGN-19%
Mortgage Advisor262,000 NGN-55%
Mortgage Collection Manager423,000 NGN-28%
Mortgage Collector125,000 NGN-79%
Mortgage Credit Analyst195,000 NGN-67%
Mortgage Credit Manager393,000 NGN-33%
Mortgage Development Manager478,000 NGN-18%
Mortgage Document Reviewer156,000 NGN-73%
Mortgage Funding Manager490,000 NGN-16%
Mortgage Operations Manager649,000 NGN+11%
Mortgage Payment Processing Clerk137,000 NGN-77%
Mortgage Processing Manager416,000 NGN-29%
Mortgage Processor173,000 NGN-70%
Mortgage Quality Assurance Auditor376,000 NGN-36%
Mortgage Quality Assurance Manager413,000 NGN-29%
Mortgage Servicing Clerk128,000 NGN-78%
Mortgage Servicing Manager390,000 NGN-33%
Mortgage Underwriter148,000 NGN-75%
Online Banking Manager617,000 NGN+5%
Open Banking Strategist394,000 NGN-33%
Payment Processing Clerk133,000 NGN-77%
Personal Banker267,000 NGN-54%
Personal Banking Advisor 262,000 NGN-55%
Phone Banker175,000 NGN-70%
Private Banker261,000 NGN-55%
Reconciliation and Investigation Specialist286,000 NGN-51%
Tax Officer214,000 NGN-63%
Teller120,000 NGN-80%
Trade Officer147,000 NGN-75%
Trade Product Manager446,000 NGN-24%
Trader179,000 NGN-69%
Treasury Operations Officer328,000 NGN-44%
Wealth Management Advisor547,000 NGN-7%

Salary Comparison By City

CityAverage Salary
Lagos627,000 NGN

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Nigeria is 6% on average across all career fields.

Private Sector
329,000 NGN
Public Sector+6%
349,000 NGN
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary for the job title Bank Branch Manager in Nigeria?

A good and competitive compensation would range anywhere between 537,000 NGN and 611,000 NGN. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary for a careers like Bank Branch Manager in Nigeria ranges from 299,000 NGN to 443,000 NGN. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.

What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary

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