Wat are u talking about, my colleague just confided in me his target was increased frm N200m to N650m and he has to meet dat target b4 year end. I must confess, things are falling apart in d banking sector

its quite unfortunate that uve been given a huge rope round ur neck right now. but i gat 2 ask some questions cos it depends on the ffg:

Q1. Are u a newly employed staff in the bank?
If YES, then its aweful and the upcoming grads shud watch out for that bank!
If NO, then have u been given a target close to that b4 and u reached it? Cos that might be a reason it was increased.

Q2. Did u tell them during ur interview that u cud bring a lot of money for them from marketing? As some newly employed boast a lot of this so as to get employment.

Also, what position are u in the marketing dept? Ur promotion cud actually warrant the HEAVY target.
Anyway, goodluck!

semid4lyfe:

If u're this clueless on how to raise 200M, why did you accept the job in the 1st place?
Anyhow sha, I wish u the best and success in meeting your 200M target.

That's an extremely daft question . . .

LOL

Is it, really?

Anybody that goes into Banking in this country should be prepared for crazy targets.
You just hope and pray hard that your target isn't too crazy.

I thought such trends has become a thing of the past in the banking industry given the so called restructuring of the sector ke. Have i been getting the wrong information?

Cristalz:

LOL

Is it, really?

Anybody that goes into Banking in this country should be prepared for crazy targets.
You just hope and pray hard that your target isn't too crazy.

Exactly . . . we all know how hard it is to get a job in Nigeria.
The employers know that too . . . that's why they'll take advantage of the fact that nobody will quit over contract terms.

Crazy targets?? Yeah, he was prolly prepared for that, but 200mil?? Come on.

It's a 'She', actually.
Little error on the thread title on the home page.

I don't know which bank you are working for or which dept you are but the easiest way i can think of right now is for you to go for company tax cheques if it is acceptable to you guys. i know some coys(e.g multinationals and other big coys) pay as much as 200m on a monthly basis for WHT and VAT payment and im sure if you can include others like PAYE to it, you will meet and possibly surpass the said amount.

I really don't understand our banks any more .

It is very important to remind us again how banking works.

- This girl’s salary is probably N300,000 per annum (gross pay could take it higher than N300k).

- She must have been told that her salary is so before she took the job.

- For her employer (Bank) to pay her such salary, the bank MUST generate the excess of her salary as income (considering that the bank has other costs, including building, NEPA, security, stationery etc)


NOW, LET US ANALYSE HER N200 MILLION (OBVIOUSLY FIXED DEPOSIT) TARGET
- N200 million in 30 days will generate an income of about N328,767 monthly.

How?

-N200m is taken from a customer at the rate of say 13%p.a. (or above); The bank pays her income at a transfer pricing rate of say 15%p.a. (or thereabouts).

-This leave a margin (spread) of 2%p.a.

-Using ordinary Simply Interest calculation (N200,000,000 x 30 Days x 2%pa). This gives N329,000 per month, which is just the employee’s salary alone (other costs including cost of the car she cruises for marketing, fuel, Diesel are not yet factored in).

The truth is that MOST PEOPLE WANT TO HAVE THEIR CAKE AND EAT IT, by reaping without sowing. But, life is not like that.

MY ADVICE:
If she thinks she cannot get deposits to pay for her salary, let her resign and get a job in the CIVIL SERVICE, where she would earn N40,000, have her peace of mind and have enough time for herself too.

Using sentiments to judge real issues is not good.

Anyway, we are all involved.

@airzee- thanks for tellking us how the bank works, but it still doesnt make sense. we have had banks for decades now, and this stupid target meeting have not always been the case, so how did the banks of the 70's/80's work?

this act has got to stop. and people are criticizing the common prostitute on the street and raiding nude clubs, when infact prostitution is thriving in virtually every area of our lives. lets be sincere, we all know 80% of the peeps in the bank meeting their target do that by sleeping with customers.  

i dont know anything about the islamic banking SLS talked about a while ago, but if its gonna put an end to this madness, then i support him 100%.

hey, u guys should not just behave like u dont know wats up, she a female
and thats wat they are prepard 4 in the banking world, the more beautiful the higher the target,
relax boys if she plays her cards very well, she'll even make up to 500m b4 new year,
baby u took up the job that thousands of graduated youth are dying 4, so leave up 2 it.
so use your tongue to count your teeth , ask ur other colleagues in the game baby

Meet 200 Million naira?
I suppose you've been in the system for awhile,
so my advice is you need to strategize well.
Look around you, family members, friends, place of worship, contacts etc.

Now If I were you I won't even take the job in the first place.
Begging people in the name of meeting target is not my style.
And if I found myself in your position it wont take long before I resign
because I would know that the job is exposing me to too much danger.
Cheers.

the amount is literally unrealistic vis a vis the time frame. will advice you just kneel down and pray you don't loose your job (or better still ask God for a better one, He is up there for us all). will pray for you, though I'm not yet a prayer warrior.

@Poster
They usually don't sack you for the first time of not meeting your target, Some of the advice you've received such as networking and "marking" your top 10 clients will help you in the long run

smooooooth:

@airzee- thanks for tellking us how the bank works, but it still doesnt make sense. we have had banks for decades now, and this stupid target meeting have not always been the case, so how did the banks of the 70's/80's work?

this act has got to stop. and people are criticizing the common prostitute on the street and raiding nude clubs, when infact prostitution is thriving in virtually every area of our lives. lets be sincere, we all know 80% of the peeps in the bank meeting their target do that by sleeping with customers.  

i dont know anything about the islamic banking SLS talked about a while ago, but if its gonna put an end to this madness, then i support him 100%.

@Smooooooth link

My brother,
- In the 70s & 80s, the workforce was very few.

- The pay then was relatively low

- Overheads was low (NEPA was more stable, transportation, cost of leaving, cost of buildings)

- The kind of Technology deployed now wasn't 1% there then;  these capital investments come with huge costs (online-real time; internet banking; telephone; security doors; CCTVs; Radios; intramail systems; ATM/Interswitch - just name it).

Targets are made to inspire and motivate pple to work. If there are no targets, I bet you, 99% of pple will go to bed and still hope to earn their salaries. The truth is that no person is ever sacked who achieves 50% of his target. And it makes sense.

Other issues:

1. I do not subscribe to the fact that every girl that meets her targets in the bank sleeps with a man. That's a lie.  While it is possible that girls do some unethical things to get the money, I can tell you they are the lazy ones. The same reason an Undergrad lady will sleep with lecturers not to FAIL exams.

2. There are many guys who meet and surpass their targets. Did they sleep with who? The issue is that people are lazy are look for short-cuts for survival. Like someone suggested, these monies can come from where you never expected.

For your information, any girl that sleeps with his male customer man to keep his money is destroying her career. The man will obviously not have the trust to allow her manage major chunk of his finances. I speak with references and experience. Men are smart, the moment they sleep with a girl, they know the girl seeing that he (the customer) has N20m or N50m or more with will definitely start asking for personal money. The safest thing a man does is to gradually wind down banking activity with the girl. Then, posting and dilly-dallying starts. You see a rich business man with much money in another bank, but scanty deposits and transactions in the bank where a girl he is sleeping with works. Why,the man is protecting his assets. Yes, he may give her some pocket money -o, but not as much as he would have if the whole savings is under her care. The only exception to this is if the man is just a signatory to Govt funds (no man's money). This is where the men believe there is no risk to the funds.

Back to the topic.

The target is justifiable because she earns her salary from there. Big man, big trouble; small man, small trouble!!! Must everybody work in the bank? The answer is 'NO'.

I am not sounding not concerned. I am just speaking reality. After all, I also have huge targets.

If you are in a market enviroment try going for daily cash pick ups it helps. If you are in a public sector enviroment try and source for Government funds, you just have to keep doing what you have being doing and even more. Talk to walk-in customers, market schools for their fees. Expand your customer base. Above all do your best.

The job is not a do or die affair you can only do your best and leave the rest. Bear in mind as well that this is not the only job you can be effective in. You will get to a point where you must ask if the stress is worth it? Targets are an endless demand on staff and believe me the pressure is just not worth it. Look out for other opportuinity you must not remain in the bank forever.

networks do a great deal in helping out with problems. (somebody that knows somebody that knows somebody that knows somebody who has what you need)

however, (@ OP) 'hope u are consciously learning some new skills. whatever skills you acquire/learn or develop today would determine what u can achieve 10yrs from now not necessarily the targets you meet today. 

singing: .  .  . monie slow to enter .  .  . monie quick to go .  .  .

Why are you disturbing the whole world with your target of 200mill? when you dey collect your FAT salary every month you tell us?

Endy80:

If u're this clueless on how to raise 200M, why did you accept the job in the 1st place?
Anyhow sha, I wish u the best and success in meeting your 200M target.[/color][color=#990000][/color]

Must u have a clue before taking a banking job? did he apply to be a marketer in a bank? Circumstance made it so. Pls try encouarage someone that is in a fix. To the poster, commit everything into God's hand,do your best possible(Network,engage in deep relationship mgt,talk to everyone that cares to hear and u will come out out victorious.

[color=#000099]
dumb.

POSTER
Your chances are absolutely needle-hole like!
Goodluck_Jonathan

Tell your management team to give you GUNS as part of your working tools

kshow1:

Tell your management team to give you GUNS as part of your working tools

Contact me i can help out, 08068053510

just do your best. u dont need to achieve the target, they want you to put in ur flesh and blood. lol.

pele! If u can get influence to the right quarters then 200M is a piece of cake

kshow1:

Tell your management team to give you GUNS as part of your working tools

that one no pure, 250 months in KIRIKIRI

sell your nyansh aor carry gun

you have to put your hands on the desk, positive thinking bring positve results. my advice for you is not td things irritating. make your contacts, interact with ur customers and believ in God. if the job is for you you will not be sacked.