Job Offer: First Bank or Access Bank?
Dear Jarus,
Considering your wealth of experience in the finance sector. I would be needing your invaluable opinion on the crossroad that I’m currently at. I’ve got offers from two top banks in the country – FirstBank and Access Bank; and I’m confused on which one to go for. I’d like to get your opinion on which one to go for as regards remuneration, career progression, work-life balance, work environment, etc.
I am at the medicals/documentation stage at the moment.
Thanks as I await a response from you.
Regards,
**
Hi,
Congrats for getting multiple job offers at this time when things are tough in the labour market.
I’m actually not very familiar with banking sector career, probably because I’m not a big enthusiast, I only have a faint idea from outside.
Apart from what you listed, there are some other important factors that can influence your choice. If you are posted to the Head Office or to a good department like Treasury by any of them, that should be ordinarily your choice.
But the issue is, you may not be posted until after training school, and since it is not possible to be in the two training schools together, we have to decide with other factors.
From what I have seen and read, I think First Bank has more security and better work-life balance.
I also ran your case with my informed friends who are more familiar with the system and I understand that Access Bank is better in terms of remuneration, career progression and work environment. The likelihood of getting Head Office unit in Access Bank is also brighter.
First Bank is however better in terms of work-life balance and job security. I will not be surprised if Access Bank lays off after full post-Diamond Bank acquisition integration. In any case, you rarely hear of First Bank laying off en masse even in tough times.
But there is a very critical negative for Access Bank, which is the requirement that entry level recruits sign a 2-year bond after training. Not sure whether that still applies, but if it does, that’s a major no-no.
Overall, if that bond requirement still applies, First Bank is the better option. If it doesn’t, it is 50-50 – if you want to be conservative, play safe and go with First Bank, but if you don’t care much about job security and want to be a little more ambitious, Access Bank may be the choice, especially if it comes with a good unit.
All the best.
Jarus
PS: Here is what another banker friend says:
As a banker, I will advise him to go for First Bank.
First Bank has job security barring personal issues or office challenges. Even if he is not posted to the head office, if he is lucky to be posted to a profit making branch, then he is got an icing on his cake. He can also get quick career growth based on his personal and branch’s performance. For me, these two things are key and enough for him for now, pending when he further develops himself.
As for banking remuneration, almost all banks pay the same when the package is assessed holistically. Considering work-life balance, banking job is not easy so he should be prepared for it. When he starts working, he can design that himself because different strokes work for different folks.
As for working environment, banks designs are almost similar. His interpersonal skills will help him. He should develop that one quickly, if he does not have it already.
Access Bank, will restructure soon, like you rightly said and that might mean so many things. Let him prepare his mind, pack his bag and head to FBN training school.
