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Entry Level Salary for Banking Jobs In Kenya

Posted by | March 2, 2015 | Scholarships_CareerTips

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Salary for entry level banking careers  in Kenya

By Jane Okoth

Simon Mutua has been working as a Business Development Intern in a microfinance institution for the past six months.

His unpaid position has been rewarding in terms of experience as he had the opportunity to prove his value to the institution.

In a bid to further develop his career, he is considering applying for the same position in an established bank that will offer him a chance to grow career wise.

He requests in an email, “I am keen on knowing the salary range of a Business Development Officer as an entry level and whether I am in a position to negotiate for more.”

The banking sector has been in the Kenyan job market for decades and continues to take charge as far as employment opportunities are concerned. But when it comes to a salary negotiation, this is a risky proposition for most new graduates pursuing entry-level positions.

Salary for a banking job as an entry level in Kenya

Speaking to Beth Wanjira, a Recruitment Manager at Corporate Staffing Services, the standard pay for an entry level in the banking industry depends on a number of factors.

“Most banks work with targets and upon agreement, you can be given a retainer depending on position you are looking into,” she says.

Another aspect that Ms Wanjira says should be considered is the bank you are working for because some of them pay fairly well compared to others.

To the best of my knowledge, if you are in the Sales and Marketing Position, a retainer figure is roughly K’sh 15,000 to 16,000 while the commission will depend on the specific target you were required to meet.

Should you negotiate for an entry level job in banking?

According to Ms Wanjira, your educational certifications and a couple of internships are not enough grounds to start negotiating for a salary.

“On a positive note, the company is giving you a chance to gain valuable working experience so negotiating an entry-level salary really should not be your first priority,” she advices.

“As an entry level, your main concern should be working hard so that you can be fully absorbed by the company so for the moment just stick to the company’s budget,” she concludes.