Which are the best paying banks in Kenya in 2017?
It’s quite interesting that banks in Kenya have set different and distinct salary scales for their employees. Some of the banks you would imagine pay their workers modest salaries are the worst employers. For instance, Equity Bank, which is the biggest bank in terms of customer base, is among the worst paying banks in the country. A fresh graduate at Equity Bank pockets Ksh 30,000-Ksh 45,000 while some managers pocket as low as Ksh 85,000.It is also interesting that some of the small banks, like Credit Bank pay better than several big banks.
To begin with,the best paid bank employees are those holding senior positions,like the Chief Finance Officer,CEO,Head of Departments and Bank Managers.Lowest paid are sales executives and bank tellers.
Based on statistics across the banking industry, here are the average salaries of top banks in Kenya.
Stanbic Bank
Stanbic Bank is one of the highest paying banks in Kenya.The bank mostly employs finance graduates especially those with CFA qualification. It also takes statistics and Bcom graduates, who take up positions as graduate clerks, financial analysts and loans officers. Starting salary at Stanbic Bank ranges between Ksh 70,000 to Ksh 90,000.
Over time Stanbic Bank senior managers have been ranked among the highest paid bank managers in the region, pocketing as high as Ksh 2 million per month.
Standard Chartered Bank
Standard Chartered Bank is also among the best paying banks in Kenya especially for fresh graduates. The bank pays tellers upwards of Ksh 65,000 and sales executive at least Ksh 25,000 per month.
CBA Bank
Commercial Bank of Africa is also not left behind. The bank, which is associated with President Kenyatta, pays fresh graduates above Ksh 68,000.Branch managers pocket above Ksh 150,000 and sales executives, who are the lowest paid employees of the bank, pocket over Ksh 25,000
NIC Bank
Following CBA Bank is NIC Bank.The financial institution pays graduate trainees Ksh 55,000 to Ksh 70,000.Managers go home with over Ksh 200,000 as directors pocket monthly median pay of Ksh 800,000-Ksh1.2 million
I&M
Also not left out is I&M bank, which is owned by an individual. If you are planning to join the bank direct from the university, expect to earn Ksh 56,000 to Ksh 65,000.
FAMILY BANK
Believe it or not,Family bank pays more than KCB an Equity Bank .Starting salary for fresh graduates range between Ksh 55,0000 to Ksh 65,000
COOPERATIVE BANK
Cooperative Bank is should also be among your choices in regards to salaries and renumeration.The bank pays graduate clerks Ksh 68,000 to Ksh 75,000.The salary rises each year based on appraisal from the seniors.
If you aren’t lucky to secure employment in any of these banks, try Consolidated Bank and Bank of Africa.
