Nova Bank is a relatively new kid on the block in the fast-paced and potentially lucrative world of Nigerian banking. With the once Platinum Habib Bank’s (PlatHab) strategic pivot, Nova Bank has been renamed and rebranded, but is also building its banking legacy. So what does the Nova Bank Nigeria salary structure look like, for job hunters, for new graduate job seekers, and for seasoned banking professionals?
To really understand a bank’s compensation structure, one must move beyond salary (here, expressed as take-home salary) for a month, to understand the total compensation structure.
This post dives deep into what employees earn at Nova Bank, from entry-level positions to senior management roles.
We will explore the perks that sweeten the deal, the factors that influence your paycheck, and how Nova Bank stacks up against other financial giants in the Nigerian banking industry.
Also see: Opay Salary Structure (2025): How Much Does Opay Pay Its Employees?
Nova Bank Salary Structure: 2025 Breakdown
The salary shown here will be average values when compared to industry standard and employee testimonial, and it was researched as of late 2025 and early 2026 from employee reports from Nova Bank.
Graduate Trainee Salary at Nova Bank
This position is for entry level applicants and recent graduates completing their National Youth Service Corps (NYSC)
- Graduate Trainee Monthly Salary: ₦150,000 – ₦200,000
- Total Graduate Trainee Annual Salary: 1.8M – 2.4M (no allowances)
Executive Trainee / Entry Level Analyst
There is a noticeable difference in salary when the Graduate Trainees move to the Executive Trainee role, as they become full time employees with the bank after Graduation from the training program.
This role involves actual banking operations, client management support, and financial analysis.
- Estimated Monthly Salary: ₦250,000 – ₦350,000
- Annual Package: Approximately ₦3 million – ₦4.2 million.
Banking Officer (BO)
Moving up the ladder in the bank, the next level is the Banking Officer. Employees in this level should be experienced and have the capability of handling more responsibilities.
Employees at this level also handle smaller teams and may also have their own portfolios.
- Estimated Monthly Salary: ₦400,000 – ₦600,000
- Annual Package: Approx ₦4.8 million – ₦7.2 million.
Nova ranks Banking Officers high in the payroll ranks due to the fact that they make up the major portion of the bank’s workforce.
A Banking Officer’s work and productivity determine the level of the bank’s clientele and the efficiency of the bank’s operations.
Senior Banking Officer (SBO)
This is the closest one could be to a manager in this role. The workload is a lot more and the responsibilities include greater levels of strategic thinking and supervision of more junior staff.
- Estimated Monthly Salary: ₦650,000 – ₦850,000
- Annual Package: Approx ₦7.8 million – ₦10.2 million.
This level is also when the benefits start to improve like better health coverage, bonuses and insurance.
Assistant Manager (AM) and Deputy Manager (DM)
The middle management level roles in the bank. Employees in this role are in charge of meeting the bank’s objectives.
They have a lot of responsibilities as they are in control of a department and a major division in the business.
They are also rewarded with a lot more pay due to the high workloads.
- Estimated Monthly Salary (AM): ₦900,000 – ₦1.2 million
- Estimated Monthly Salary (DM): ₦1.3 million – ₦1.5 million
The departments a manager oversees will determine their salary as it can be anywhere from ₦10 million to ₦ 20 million, and even higher. For instance, Operations will earn a lot less than Treasury and Investment Banking.
Senior Management
The most sized up positions here are Senior Managers like, Assistant General Manager (AGM), Deputy General Manager (DGM), and General Manager (GM). They are in charge of the profitability and strategic decisions of the entire bank.
Estimated Annual Package ₦30 million – ₦60 million +
Salary packages at this level involve heavy negotiations. The packages include numerous bonuses based on performance, stock options, as well as allowances for housing, cars, and even servants.
What Affects Salaries At Nova Bank
Everyone with the same job title does not earn the same salary. A number of different elements affect on what side of the salary scale a person will fall on.
Also see: PalmPay Salary Structure In Nigeria (2025)
Department and Job Function
If your position is in Support Services, General Operations, or even Human Resources, your earning potential is considerably less than that of your colleagues whose positions are in Investment Banking, Treasury, or Corporate Finance.
The higher pay in this case is due to the specialized skills required for investment banking.
Experience and Qualifications
Someone like a holder of Master’s, MBA, or even professional certifications like ACCA, ICAN, or CFA will often negotiate a higher entry level than others. The negotiating value in this case is due to the level of qualification.
Performance Appraisals
Nova Bank works on a merit system. Annual pay raises are evaluated based on Key Performance Indicators (KPIs). Over performers are frequently compensated with pay raises, promotion bonuses, or both.
Negotiation Skills
For more experienced recruits, especially those moving to the bank as mid to senior hires, negotiating the offer is more critical.
For entry level roles, the pay is fixed, however, when it comes to management roles, there are salary bands.
If you can effectively articulate your worth, it can significantly determine your starting point within the band.
Nova Bank Employee Benefits and Allowances
The basic salary is only a small part of the total compensation. Employee benefits are designed to support employees’ overall well-being, as well as that of their families. These “soft” benefits contribute significantly to overall job satisfaction.
Health Insurance
Nova Bank employees receive a comprehensive HMO. This typically covers the employee, their spouse, and a certain number of children.
Leave Allowances
Employees are entitled to annual leave, during which the employees are given a leave allowance.
This is usually a fraction of the annual basic salary which results in added disposable income on a yearly basis.
13th Month Salary
As many people know, when the year ends, most companies, if not all, distribute an additional month’s worth of salary. This additional salary is called a 13th month salary,, and the 13th month salary is supposed to be given during the last month of the year.
Nova Bank vs. Other Banks: A Comparison
How does the Nova Bank salary structure compare to competitors?
Vs. Commercial Banks (e.g., GTBank, Zenith)
Commercial banks tend to hire more people than other financial institutions. So, sitting in any entry-level position in a commercial bank will mean being at the bottom of a large pyramid. Although commercial banks, especially tier one banks, have the big paychecks, expected career progression stagnation is slower compared to smaller institutions due to the large number of competitively ambitious peers. Nova Bank, however, has a relatively smaller employee base, has a flat structure, and will thus in all likelihood bid faster progression to high performers.
Vs Other Merchant Banks (e.g. FBNQuest, Rand Merchant Bank)
The pay range across other merchant banks is somewhat similar. Nova Bank has good standing competitively with FBNQuest, a more established player. Although Nova Bank may not be able to compete with international merchant banks, which tend to pay higher due to their ability to earn in forex, Nova Bank still has a strong offering in the local setup, especially in promoting work-life balance.
Job Security
One definite strength of Nova Bank is in stability. Compared to Nova, retail banks, which also have a merchant banking division, are more volatile and have a history of large retrenchments.
The Future of Nova Bank
In Nigeria’s banking system, there’s a lot of new banking service providers and technology focused systems shaping the lending business. Traditional banks are feeling the pressure to attract and keep their technology proficient workers.
Nova Bank is adapting and seeking to be a leader in using technology for banking and for investing. As a bank focused on technology, there will always be a place for data analysts, IT security, and other software engineers.
If you are a tech professional looking at banking jobs in Nigeria, Nova Bank is likely to offer a premium for your skills to prevent you from joining a tech startup.
Furthermore, as inflation affects the cost of living in Nigeria, banks are periodically reviewing their salary structures. It is expected that Nova Bank will continue to adjust its remuneration packages to shield its employees from economic headwinds, maintaining its status as an employer of choice.
Is Nova Bank a Good Place to Work?
Besides the Nova Bank salary structure, the work culture. Their work culture is professionally complimented by their current and past employees. Being a merchant bank, the clientele is sophisticated, which demands a high level of professionalism and reduces the stress associated with crowded banking halls found in commercial banks.
However, the work can be demanding. Investment banking hours are notoriously long, and the pressure to close deals or manage high-value assets can be intense. But for those who thrive on challenges, the environment is stimulating.
Also see: Kuda MFB Salary Structure In Nigeria (2025)
Conclusion – Nova Bank Salary Structure In Nigeria
Navigating the job market requires information, and understanding the Nova Bank salary structure gives you a competitive edge. Whether you are a fresh graduate looking for your big break or an experienced professional seeking a lateral move, Nova Bank presents a compelling option.
This, among others, signals that Nova Bank is among the most reputable banking jobs, as the salary offers a competitive base, work allowance, and defined line of promotions.
Working with a basic allowance makes the work demanding, but for value driven performers, the work is a financial and professional match.