Hey! everyone, so today we are here to discuss the IBPS PO salary. As you know before starting the with the main topic let’s check out some relevant term regarding the post. Now, what is the meaning of IBPS what is the term IBPS stands for, what are the work done by the employees, what are the pay structure of PO or Probationary Officer, what the measure of growth and promotion in the company? From now we are going to check the answer of these question line by line. What you have to do is just read the whole article thoroughly.
Now we pick our first question that is meaning and the term IBPS stands for:- The Institute of Banking Personnel Selection (IBPS) is a recruitment body that was started with an objective to hearten the recruitment and posting of young graduates in public sector banks in India, other than the State Bank of India. It also provides systematize systems for the evaluation and results in handling services to organizations.
Now the second question is what kind of services they are providing to the employee and we can also say what kind of service they give to their customer? What is the role of the employee in the company as a Probationary Officer? To answer this question lets check the list given below. and also you people get all the answer which is left, in the following paragraphs.
IBPS BANK PO OFFER SERVICES
IBPS provides its facility to banks in the public & private sectors, regional rural banks, & foreign banks. It also supplies other financial institutions, adding co-operative banks, insurance companies, academic institutions, & both private & state-owned companies. The services are:
- Project consultation: aid in run examinations for recruitment and promotion
- Evaluation centers that help organizations in pinpoint the knowledge and skills of candidates for appropriate positions
- Personality evaluation using group exercises and interviews to identify the seekers’ higher cognitive skills
- Training programs for senior staff to help flourish their experimental and interviewing skills
- Workshops for people who blueprint their own question papers
- Lists of the specialist who can conduct interviews or group exercises effectively
IBPS PO SALARY IN DETAIL
Now the main question arrives that what is the remuneration get by an IBPS Bank PO. So, the latest revision of IBPS PO salary as per 10th Bipartite settlement took place on November 2012, the final concession was signed in May 2015. It is like 23,700- (980*7)- 30,560- (1,145*2)- 32,850- (1310*7)- 42020. Total is 23,700 is the revised basic pay of Probationary Officer as applicable on 1st January 2016. The annual increment is of Rs. 900 and it will be applicable for a period of 7 years.
IBPS PO SALARY AFTER 11TH BIPARTITE SETTLEMENT
|INCREMENT PERCENTAGE||BASIC PAY||GROSS SALARY|
|15%||Rs. 26,706/-||Rs. 37,068/-|
|20%||Rs. 27,866/-||Rs. 38,678/-|
|25%||Rs. 29,026/-||Rs. 40,288/-|
|30%||Rs. 30,187/-||Rs. 41,899/-|
Wages revision for bank employees is due from November 2017 under the 11th bipartite settlement, that had a time span of 5 years till 2022.
BENEFITS AND ALLOWANCES OF IBPS PROBATIONARY OFFICER
Now it’s time to discuss the benefits and allowance given to the employee of the bank. Apart from salary of Bank PO, there are many benefits a Bank PO gets. Many time a question arises in our mind that why the company gave such kind of perk to the employee? so the answer is very simple because while giving such allowance and benefits to the employee it helps them to work well and satisfied their personal need as well. The list of perk is listed below.
|BENEFITS AND ALLOWANCES||AMOUNT|
|Dearness Allowance||38.80% of Basic Pay|
|Special Allowance||7.75% of the Basic Pay|
|Hour Rent Allowance||It can be 9.0%, 8.0% or 7.0% depending upon metro, big cities or other locations.|
|City Compensatory Allowance||Depends on the place of Posting and can be either 4%, 3% or 0% and the total salary without HRA of probationary Officer becomes Rs. 35,700- 36,570. And if we consider HRA then it becomes Rs. 37,360- 38,700.|
|Leased Accommodation||This facility is available to Probationary Officer in the place of HRA. The amount is not in the form of a cash component and will directly go to the house owner.|
|Traveling Allowance||Like few banks provide fixed TA but other allows reimbursement of petrol bill. An officer must have own scooter/ car at the working place|
|Medical Aid||A Fixed amount is paid by most of the banks that is Rs. 8,000/- P.A.|
|Newspaper Reimbursement||A fixed amount is paid toward the cost of newspaper to PO|
IBPS BANK PO GROWTH AND PROMOTION
In every organization, many of us have seen or known to us that if an employee works really well in the company and make company image good in front of the public by their service and hardworking skill then the employee will definitely get increment and promotion. But there are two ways of getting promotion first one you just read in the above lines that are by their skill and technique and the other one is through exam and interviews. Both ways are good at their places. So now let’s check out the list of promotion an employee gets during his working session. As year pass the level of growth is also increasing.
|PROMOTION AND GROWTH|
|1) Junior Management Grade- Scale I- Officer (PO)|
|2) Middle Management Grade- Scale II- Manager|
|3) Middle Management Grade- Scale III- Senior Manager|
|4) Senior Management Grade- Scale IV- Chief Manager|
|5) Senior Management Grade- Scale V- Assistant General Manager|
|6) Top Management Grade- Scale VI- Deputy General Manager|
|7) Top Management Grade- Scale VII- General Manager|
|8) Executive Director (ED)|
|9) Chairman and Managing Director (CMD)|
Thanks for reading the whole article. Hope you get an idea of salary structure, growth and promotion, and many more things. If you have any query regarding the post then may please leave the comment in the comment section below and our team will help you out as soon as possible. And if you want any other kind post related to salary, education tips or vacancy then you may also inform us. Our team will make sure to help you out and give you an appropriate guideline to you.