Mr Baird accepted a job with the National Australia Bank as chief customer officer in the corporate and institutional banking unit less than six weeks after he announced his resignation as premier to spend time with family members who were unwell.

He signed the employment contract on Tuesday morning after seeking advice from the parliamentary ethics advisor on Friday and getting the all clear.

"They just patted me on the back and said, 'see you later, mate'," Mr Baird said.

"There's a ministerial code of conduct on not using information you would have obtained in your time as premier to benefit either yourself or benefit anyone you might work for.

"They said it was fine for me to take the job."

The appointment marks a full circle for Mr Baird, whose first job out of university in 1989 was at the bank's St Ives branch before he moved into corporate banking at Deutsche Bank and HSBC.

He is set to receive more than $2 million, based on the pay of similar level executives at NAB, which will more than make up for the perks he will forgo as a result of changes to parliamentary pensions.

MPs who entered Parliament after 2007 are no longer entitled to an annual salary since the superannuation scheme was wound back, and premiers who served less than five years in office do not get an office, staff or a driver.

Explaining his decision to accept the role with NAB, Mr Baird reframed the 10 years he spent in NSW politics as a break from his corporate career, and his new job as the necessary means to an income.

"When I walk out the door I don't get a pension," Mr Baird said.

"I've had to purchase a phone, an iPad, I've got to provide for my family.

"How about we have more people from corporate Australia take time off from their corporate career to make a contribution to state and country? I hope there's more of it.

"The community doesn't like pensions. Well, I don't get one and this is the other way you can deal with it."

NAB chief executive Andrew Thorburn said he had held several conversations with Mr Baird while he was premier about future employment opportunities, but the timing of his resignation was serendipitous because it occurred as the bank was recruiting for the chief customer role.

By the time he called Mr Baird three days later, the former premier had already received four other job offers.

"Before Mike going into politics in 2007 he was a banker, and as treasurer of NSW you need to be very competent – and Mike has done very well in building the finances of NSW," Mr Thorburn said.

"He brings a knowledge of banking and finance but I think he brings a passion for NAB."

MPs are required to seek advice from the parliamentary ethics committee before taking a job in the private sector within 18 months of their retirement from politics.

The advice given will be tabled in Parliament.

Mr Baird said he could only identify two potential conflicts of interest – the banking tender for financial services provided to the government, which was most recently awarded to Westpac, and the 99-year lease of the state electricity distributor.

"The NAB will potentially be supporting bidders for the Endeavour lease and I've said that I won't be engaged in that. I will not be engaged in any way but I've looked and can't see any others at all."

But Greens MP David Shoebridge said Mr Baird had presided over an unprecedented rise in house values with a corresponding increase in the mortgage pool held by lenders and the appointment would be perceived as "corporate gratitude".

"The government should legislate to prevent ministers entering a sector where they had direct responsibility for 12 to 24 months after they left office, and premiers should be compensated with a pension for that period," Mr Shoebridge said.

"That would be a payment to improve the look, feel and integrity of NSW politics."