Lapo Microfinance Bank Salary Structure (2024)

If you’re seeking for a decent good starting point in the banking business, the LAPO Microfinance Bank Limited can be a fantastic place to start. The Microfinance Bank’s salary structure in Nigeria is not as high as that of commercial banks, but it’s one of the organizations that young graduates looking for respected financial firms to begin their careers could consider. Keep reading to know more about the LAPO compensation scheme for their staff.

WHAT IS LAPO MICROFINANCE?

Lift Above Poverty Organization is abbreviated as LAPO. It’s one of the Nigeria’s biggest non-governmental and non-profit organizations, with headquarters in Benin and franchises in other key cities across the country.

Godwin Ehigiamusoe founded LAPO MfB as a Non-Governmental Organization (NGO) in the late 1980s, as per the organization’s Media PR release. They have indeed been fortunate to stand up to their reputations and legacies through this endeavor, as they strive to do everything necessary to reduce poverty.

LAPO MICROFINANCE BANK SALARY STRUCTURE (2024)

The compensation levels of this banking institution, as well as the compensation earnings of its employees, are influenced by a variety of elements, just like they are in other businesses. I’ll call attention to these factors in the following paragraphs:

• Job Title and Role: Salary varies depending on the position you already hold or are seeking to fill. A Branch Manager’s compensation is different from that of an Accounts or Finance Officer.
• Location: Salary commissions and earnings are also affected by the cities in which these offices are located. In the same way, it varies depending on where the employees live. Whether or not they work on comparable responsibilities, salary earnings for LAPO MfB workers situated in Benin City, Nigeria may differ from those based in Lagos state, Nigeria.
• Industry Standards: There are industry standard salary payouts for each role that is applied for. This MfB or institution conducts research and pays in accordance with regulations – Give or Take.
• Please keep in mind: The elements listed above are some of the factors taken into account before a compensation structure is created for each employee, and the wage structure for LAPO Microfinance Bank is based on an estimate.

The pay scale is determined by the level, manner of entry, line of service, and experience of the employee.

ACCOUNTANT

The starting salary for an accountant at LAPO Microfinance Group is ₦89,000 per month. The creation of records for transaction documents is the primary responsibility of this position. As a result, every accountant is in charge of meticulously preparing financial papers.

ADMINISTRATIVE OFFICER

In the LAPO microfinance Bank compensation structure, the administrative officer salary starts at ₦87,000. The administrative officer is among the middle jobs in the bank. You will be a midway connection between employers and employees. The major purpose of this post is to manage administrative chores in general.

CLIENT SERVICE REPRESENTATIVE

The LAPO bank pays the client support officer roughly ₦100,000 as salary every month. This department will be responsible for any engagement with clients’ post-sale and post-trade operations, as implied by the position’s name. The key objective is to address the client’s expectations. As a result, anytime a customer has a question, the client support officer should be prepared to respond.

If client help is required, the client service is the first point of contact. As a result, he maintains a positive working relationship with a client. It also features the bank’s assistance functions for dealing with client issues.

If you take this job, you’ll have to provide some value to the bank’s connection with you.

DIRECTOR OF THE STRATEGY DIVISION

In the LAPO wage structure, the Head of Strategy Division might earn around ₦138,000 per month. It’s one of the bank’s highest-ranking positions. The primary responsibility of this role is to establish plans and forecast the bank’s future growth. The strategy section comes up with new ways to advertise and disseminate the bank’s services to more people.

The role of head of strategy division is that of a team leader. As a result, he assumes accountability for not just one individual, but the entire office of employees. They collaborate as a group to come up with innovative ideas for the Bank.

LAPO RECRUITMENT PROCESS

It’s perfectly fine to be interested in working for a company but lack the necessary qualifications.

Perhaps you did something completely different in a completely different industry. Nevertheless, because LAPO is a financial services firm, you’re not certain how to proceed.

Here is just a list of a few job roles or career routes you might choose if you want to work as an LAPO at a Microfinance Bank.

• Client Support Officer (CSO)
• Finance Officers
• Accounts Officers
• Customer Representative
• Teller
• Legal Officer
• Business Development Officer
• Administrative Officer
• Sales Officer, and so on.

If you select any of the above boxes, you’re one step closer to working for the institution you care about; if you don’t check any of the above boxes, please keep in mind that working for this organization is not restricted to the options listed above.

HOW TO GET RECRUITED

Whenever the portal is available and a job vacancy exists, you can go to their website, navigate to “careers,” and then select the job role you want to work in.

You might also go to their office, if one is available in your city, and hand in your curriculum vitae.

In general, the LAPO MfB recruitment process is not stressful. It’s pretty simple and uncomplicated. There are a few

CONCLUSION

We presented information on LAPO Microfinance Bank in this post, including recruitment, salary structure, and other details. Individuals that want to get involved with LAPO Microfinance Bank frequently do so. They might want to connect as job searchers, investors, developers, or even borrowers.

We highlighted the financial institution’s compensation structure in this article to provide them with up-to-date information. Their remuneration may not be the highest in Nigerian banking, but it really is a solid start. Furthermore, LAPO Bank may offer a variety of other exciting opportunities to those who choose to work for them.