Banking sector is one of the best sectors to work for in Kenya. But you should select the best paying bank if you want to be comfortable working in this sector. Some banks pay senior managers salaries which junior employees in other banks earn.
Here is a full list of highest paying banks in Kenya:
- Central Bank of Kenya
Central Bank of Kenya is the best bank to work for in Kenya, it’s owned by the Kenyan Government. They recruit interns annually. After training, those who get opportunity to work there are confirmed with a salary of Ksh 180,000 to Ksh 250,000 per month. With over 3 years of experience, you will earn over Ksh 300k.
Central Bank is among Class A parastatals, the pay is slightly above that of Class B and C parastatals.
- Citi Bank
Citi Bank does not have many employees but it’s one of the highest paying banks in Kenya. The company pays fresh graduates Ksh 80,000 to Ksh 120,000 per month. Those who have been working at the bank for more than 5 years earn Ksh 150,000 to Ksh 250,000 per month. Managers earn above Ksh 250,000 monthly.
Citi Bank recruits graduates with at least Second Upper division.
- Cooperative Bank
Cooperative Bank has branches across the country, it has employed thousands of Kenyans. The banks pays fresh graduates Ksh 70,000 to Ksh 80,000 per month. Tellers at the bank earn Ksh 72,000 as the starting salary. Cooperative pays their managers Ksh 220,000 and above. There are branch managers earning even more than Ksh600k per month.
The good thing is that the bank pays bonuses to all employees every year when targets are met.
Another well-paying bank is KCB.It’s also among the most stable banks to work for in Kenya, they don’t retrench anyhow.KCB pays sales executives Ksh 20,000 and above. Tellers are paid from Ksh 60,000 per month with the most experienced ones earning over Ksh 150,000 monthly.
Large branches pay managers Ksh 300,000 to Ksh 700,000 per month with small ones paying Ksh 180,000 to Ksh 300,000.
The CEO at KCB earns Ksh 4 million to Ksh 6 million monthly.
- Stanbic Bank
Stanbic is the best investment bank to work for in Kenya. If you possess CFA and a degree in business related course, they will pay you a starting salary of Ksh 250,000 per month.
Graduates with 3 to 5 years of professional experience earn Ksh 120,000 and above per month.
The CEO of the bank earns Ksh 3.5 million to Ksh 5 million monthly plus yearly bonuses when targets are met.
NCBA is owned by Kenyatta family and it’s a good bank to work for. I have witnessed fresh graduates get recruited and earn Ksh 68,000 to Ksh 75,000 as the starting salary.NCBA reviews the pay for employees annually. You might get employed with a salary of Ksh 75,000 and after 3 years, your salary shoots to Ksh 180,000.But the increase is dependent on one’s performance.
Managers at NCBA earn over Ksh200, 000 monthly. Those working in big branches earn more than those in small branches.
- Family Bank
If you get opportunity to work at Family Bank, don’t hesitate, they pay well. With undergraduate degree minus experience, they will pay you Ksh 55,000 to Ksh 70,000.The more you stay at Family Bank the more money you earn. After 5 years, you will be paid more than Ksh 150,000 monthly.
At Family Bank, it’s easy to grow, they have the best policies for employees.
- Standard Chartered Bank
Another Bank you should aim to work for is Standard Chartered Bank. The Bank offers recruitment opportunities through their website where you apply for vacancies as they arise. Fresh graduates working at Standard Chartered Bank earn Ksh 70,000 to Ksh 120,000 per month. Professional like Auditors, Financial Analysts and Actuaries earn over Ksh300k monthly.
Apart from salaries, the bank also offers bonuses annually.
- Equity Bank
Equity Bank is not good for junior employees but for Managers and supervisors. At Junior level you can earn as low as Ksh 35,000 per month but when you rise to the level of manager or supervisor, you will make over Ksh 120,000 monthly.
- ABSA Bank
ABSA Bank also pays well ,it’s among top 10 best paying banks in the country. The starting salary for fresh graduates is Ksh 50,000 to Ksh 70,000.Employees with over 3 years of experience earn above Ksh 100k monthly.
Branch and operations managers make Ksh 150,000 and above.
No graduate at ABSA earns less than Ksh 40,000 monthly….but if you are recruited to do sales, you are paid commissions plus base pay.
- Diamond Trust Bank
You will also be impressed with salaries DTB pays. Though it doesn’t have as many employees as KCB or Coop Bank, they try as much as possible to pay high salaries. Starting pay for graduate trainees is Ksh 60,000 to Ksh 110,000 per month.
- Gulf African Bank
Though they don’t recruit regularly, Gulf African Bank is a good bank to work for. They normally recruit graduates with outstanding grades. Starting salaries at the bank are Ksh 65,000 to Ksh 80,000 per month. Once you gain experiences, you will be earning not less than Ksh 120,000 monthly.
- Bank of Africa
Bank of Africa has several branches in Kenya, they recruit annually. Most people join the bank as trainees. A fresh graduate is paid Ksh 55,000 to Ksh 70,000.With more than 5 years of working at the bank, your monthly pay will be more than Ksh 120,000.
Another bank you should work for in Kenya is Ecobank .It’s good for new graduates who want to gain banking experience to grow.The fresh graduate pay ranges between Ksh 55,000 to Ksh 78,000 per month.