All the candidates who are appearing or want to appear for IBPS Bank PO Exam are curious to know “What is IBPS PO Salary Structure”? आईबीपीएस पीओ की सैलरी – It is the most frequently asked question by candidates to know what benefits they will have.
Do you know the full form of PO? It is Probationary Officer. Never the less job in Banking sector is the most proudable job a candidate can have. The Good news for all candidates is that the department is going to enhance the IBPS probationary officer salary scale from this year.
In this post you are going to have detailed information regarding starting salary, facilities, allowances, grade pay, salary after probation period, salary after 10th bipartite wage revision and 7th pay commission, and other useful information on Salary of IBPS PO etc.
IBPS PO Notification 2019-20: An Overview
|Exam Name||IBPS PO 2019-20 – Common Recruitment Process (CRP PO/MT-VIII)|
|Conducting Authority||Institute of Banking Personnel Selection (IBPS)|
|Name of the Post||IBPS Probationary Officers / Management Trainees (Junior Management Grade – Scale I)|
|Participating Organizations||Public Sector bank in India except for the State Bank of India (SBI) and its Associate Banks|
|Number of Vacancies||4102|
|Number of Stages||Three – Prelims, Mains, and Interview|
IBPS PO Salary Structure in detail
The IBPS PO (Probationary Officer) Salary is Rs 23,700. IBPS PO Officer salaries can range from RS.22,000– RS.36000. There are several other income benefits also apart from salary. In Banking Sector the Probationary Officer (PO) is a starting level post of an officer. Candidates who will qualify for this IBPS Bank PO will kept under 1 to 2 years approx in the probation period that is called a training period. In this training period candidates learn basic and essential duties of a PO in the bank to perfrom his/her dutie in manner. Salary of IBPS PO is going to differ after recruiting in various IBPS PO participating bank according to Bank policy. Here we are only talking about general Salary Structure of IBPS PO Officer. Below this you will get the information regarding Basic pay, Allowances etc given to the IBPS PO.
|Total (without HRA)||36570.38|
|Gross with HRA||38703.38|
|Gross Annual CTC (with HRA but without leased accommodation)||5,57,640.50|
IBPS Bank PO Salary and Allowances
|Dearness Allowance (DA)||Revised quarterly based on the CPI, the DA forms around 40 percent of the Basic Pay. It is to be noted that since DA depends upon CPI, it can increase or decrease based on the inflation rates.|
|House Rent Allowance (HRA)||This depends upon the location of posting of the Probationary Officers. Based on whether they are posted in metropolitan cities, big cities or other locations, the HRA can be 9 percent, 8 percent or 7 percent of the Basic Pay.|
|Special Allowance||The Special Allowance is 7.75 percent of the Basic Pay.|
|City Compensatory Allowance (CCA)||The CCA too, like the HRA, depends upon the location of posting. It can be 4 percent, 3 percent or 0 percent based on the job location.|
Other Benefits and Perks Available to Bank PO (बैंक पीओ के अन्य लाभ और भत्ते)
Are you willing to know the Benefits and the perks offered by banks to PO? Here we have come to give you the full details of benefits and perks offered to Bank PO. As per the rating of perks offered by Banks , State Bank of India (SBI) is the no 1 bank in India to provide with most benefits and perks to there PO.
- Leased Accommodation – This service is available to Bank officers instead of HRA to provide you the housing facility on its own cost. Leased Accommodation varies from bank to bank and depends on upon the place of posting (such as rural or urban area). It is not important that every bank provide leased accommodation ,they can provide anything else also.
- Travelling Allowance – Most of the Banks provide there PO traveling packages or can also compensate the cost of petrol / traveling.
- Medical Aid – An amount also attached to your medical needs (Revised price is Rs8000/- p.a.)
- Newspaper Reimbursement : A fixed monthly amount is pay towards the cost of one newspaper everyday.
- Coverage under New Pension Scheme.
We haven’t mentioned all the benefits provided by the banks as it may differ from bank to bank. SBI is the no 1 Bank in providing these benefits. The place of posting is also one more important factor to have other benefits.
IBPS PO Salary After 11th Bipartite Settlement –
After the wage revision, 11th Bipartite have settled for an increase of 15% in the IBPS PO salary. Expected hike in wages after permission of Indian Bank’s Association check it below in detail.
|Increment (Percentage) %||Basic Pay||Gross Salary|
7th Pay Commission effect on IBPS PO Salary
सातवें वेतन आयोग का सैलरी पर असर – Candidates must be thinking that bank employees salary will also increase after 7th pay commission but all banks have their different method to calculate the rise in salary they don’t follow pay commissions. Every Bank has there method of paying there employees in there means. Government of India is not looking intrested to include the Banking PO slary in 7th pay commission. Words from Indian Banks’ Association (IBA) Chairman Shri T M Bhasin announced that there will be no effect of 7th pay commission on IBPS po salary. Approx 9 lac bank employees of public sector bank in India already waiting for 10th bank bipartite wage settlement.
IBPS Bank PO Promotions and Career Growth
|IBPS PO Salary: IBPS PO Promotions|
|1. Middle Manager – Middle Management Grade Scale 2|
|2. Senior Manager – Middle Management Grade Scale 3|
|3. Chief Manager – Senior Management Grade Scale 4|
|4. Assistant General Manager – Senior Management Grade Scale 5|
|5. Deputy General Manager – Top Management Grade Scale 6|
|6. General Manager – Top Management Grade Scale 7|
|7. Executive Director|
|8. Chairman and Managing Director|
You have many chances to get promoted to the higher level after competing for IBPS PO Exam. There are many post on which you can be promoted after looking your work. All you have to do is hard to climb the stairs of success.
Promotions for Bankers
Promotions plays the most important part in every sector as it encourage the person to work more hard and helps to take the companies to new highs. We have already mentioned the IBPS PO Salary Structure in detail as every promotion will take you new high. If you are hardworking then you can easily get promoted Banking sector. In Banking sector also candidates get promoted as we have mentioned below in more detail.
- Banking sector has the well defined career option for all the officers as well as it is the most prestigious job also. It totally depends on your hardworking how fastly you can be promoted in higher level of management. Most of the senior officers were starting their career from Scale I.
- As I said mentioned earlier, hardworking and knowledgeable employees will be assigned on a higher scale in a short period.
- Normally it takes 14 years for bank’s officers to reach the position of General Manager. After that executive director or Chairman of a bank. These are the topmost high scale positions of the bank which will be decided by the government.
- In Public sector banks, you may get a chance to work in abroad also. Many of banks have their branches out of the country also.