IBPS PO Salary and Allowances in Starting / After Probation period
What is IBPS PO Salary? आईबीपीएस पीओ की सैलरी – It is a most popular question between all of the banking aspirants who are preparing for ibps PO exam. Good news for all of you that department is going to enhance IBPS probationary officer salary scale from this year.
Check the latest information on it such as 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 IBPS Exam 2017 etc.
Candidates ask this question many times that what is my salary after clearing ibps po exam. Here in this article ibps recruitment guide provides you complete story behind ibps po salary package with increments and promotions. Registration start – IBPS PO Online here.
IBPS PO Salary Structure in detail
आईबीपीएस पीओ सैलरी का ढाचा – Probationary Officer (PO) is a starting level post of any officer in a bank. So you will have kept under approx 1 to 2 years of probation period is also called a training period. In which you learn basic and essential duties of a PO in the bank.
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Here is a complete guide on IBPS PO Job Profile you should check it for know about that what will be your work after selection. Your salary will differ after recruiting in various IBPS PO Participating banks according to the bank policy here we are talking about general salary for ibps po officer in probation period and after probation period.
|IBPS PO 6 Salary details 2017 – 2018
|Total (without HRA)||36570.38|
|Gross with HRA||38703.38|
|Gross Annual CTC (with HRA but without leased accommodation)||5,57,640.52|
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IBPS Bank PO Salary and Allowances
Check The other main benefits payable on a monthly basis as part of the salary of IBPS PO. You can check details here. In addition to Basic Pay, bank officers (i.e. Probationary Officers / PO / Management Trainees) are eligible for the following allowances –
- Dearness Allowance (DA) – It is a cost of living adjustment allowance paid to all govt and public sector Probationary officers. It is revised on a quarterly basis and based on Consumer Price Index (CPI). Calculation of DA depends on inflation. DA can go up with higher inflation and also come down if the inflation rate is in negative.
- HRA – This depends on the place of posting, and it can be either 9.0% or 8.0% or 7.0% depending on the place of posting.
- Special Allowance – This will add in 10th BPS (wef. 01/11/2012) and for Scale, I 7.75% on which DA is also payable
- CCA – This also depends on the place of posting and can be either 4% (maximum Rs.870/-) or 3%(Maximum Rs.600/-) or 0%
- Conveyance allowance – It is paid for commuting between home and office.
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Other Benefits and Perks Available to Bank PO (बैंक पीओ के अन्य लाभ और भत्ते)
Here are different types of other benefits applied to IBPS PO officers. It may differ in every bank. Bank gives some primary, and general perks are mention here check details. (Note – As per rating of perks offered by banks, SBI is no. 1 bank in India which gives more benefits and facilities to their employees comparing to other nationalized banks.)
- Leased Accommodation – This service is available to Bank officers instead of HRA. It also varies from bank to bank and depends on upon the place of posting. Some banks may offer official bank accommodation/ bank quarters instead of leased housing.
- Travelling Allowance – Most of the banks give a fixed Traveling Allowance and reimbursement of petrol bills.
- Medical Aid – An amount also attached for your medical needs (Revised price is Rs8000/- p.a.)
- Newspaper Reimbursement: A fixed monthly amount is pay towards the cost of one newspaper
- Coverage under New Pension Scheme
Some of other benefits also in the queue but it may vary bank to bank and place of posting (rural / semi-urban / metro cities). Such as Entertainment, Telephone, Canteen Subsidy, etc.
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 (IBA) check it.
|Increment (Percentage) %||Basic Pay||Gross Salary|
7th Pay Commission effect on salary
सातवें वेतन आयोग का सैलरी पर असर – Most of the candidates assuming 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.
Indian Banks’ Association (IBA) Chairman Shri T M Bhasin announced that there is not any effect will be count on ibps po salary after 7th pay commission. Approx 9 lac bank employees of public sector bank in India already waiting for 10th bank bipartite wage settlement.
And Government of India is also not planning for include bank employees under seventh pay commission. Wait for further notification. Also, Check IBPS Preparation Tips 2017.
Why Bank PO as a Career option?
As banking sector jobs are considered very prestigious and esteemed, Everyone in ten persons would like to go for the banking job. Banking as a career gives many opportunities for employment and promotion as well. But why to choose Bank PO position as a career option? The answer to this question is given in the following content.
The bank PO is selected as good career option because it has many benefits such as it has tremendous job opportunities, challenging job tasks, excellent promotion policies (a good and fast-paced opportunity from PO to general manager), wonderful salary packages and job perks, fewer duty hours, great leave policies, stress-free environment, opportunity to work abroad, free trips across the country.
Considering the mentioned benefits, one would definitely not be willing to leave the opportunity to choose it as a career option.
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PO Career and Promotions –
On Probationary Officers post you will spend a duration of two years as a probation period. It is also called a training period In which you learn the fundamentals and different types of work of a bank officer. After completing you will be subject to a screening process.
According to your performance department will be given placement in next higher level of Middle Management Grade Scale II. And Rest of employees who not perform they will assign to Junior Management Grade Scale-I Officer.
Bank provides vast opportunities for growth within the Bank as well as opportunities for postings abroad. The engaging promotion policy of the Bank offers a chance to the brilliant officers to succeed in the highest Management Grade in a short duration.
- Public sector banks have well-defined career options for all officers. Perhaps your performance plays a significant role in career progression. Most of the senior officers were starting their career from Scale I.
- As I said earlier, that hardworking and knowledgeable employees will be assigned on a higher scale in a short period.
- Most of the bank’s officers reach to the position of General Manager in 14 years. 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.
|Career progression for Probationary Officers in Banking Sector with Salary|
|Junior Management Grade – Scale I: Officer i.e. PO||23700 – 980 – 30560 – 1145 – 32850 – 1310- 42020|
|Middle Management Grade – Scale-II: Manager||31705 -1145 -32850 -1310 -45950|
|Middle Management Grade – Scale III: Senior Manager||42020 -1310 -48570 -1460 -51490|
|Senior Management Grade – Scale IV: Chief Manager||50030 -1460 -55870 -1650 -59170|
|Senior Management Grade Scale V: Assistant General Manager||59170 -1650 -62470 -1800 -66070|
|Top Management Grade Scale VI: Deputy General Manager||68680 -1960 -76520|
|Top Management Grade Scale VII: General Manager||76520 -2120 -85000|
|Executive Director (ED)||Approx 1.5 + lac|
|Chairperson and Managing Director (CMD)||Approx 2 + lac|
Note: – Salary of IBPS PO may be varied according to the location and bank-wise. Salary in Metro and Rural Cities may differ.
Meanwhile, IBPS PO salary in India are same in such cities Delhi, Mumbai, Hyderabad, Jaipur, Kolkata, Uttarakhand, Andhra Pradesh, Assam, Bihar, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Tamilnadu, Uttar Pradesh, West Bengal etc.
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Hope this complete guide on “IBPS PO Salary” is evident your doubts, and now you have the clear answer to this question that How much salary of IBPS PO? and what is the gross salary? etc. If I missed anything here, you could mention your suggestion here and for any query using our comment section below.
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