IBPS PO Salary and Allowances in Starting / After the Probation period
Aspiring Bank Aspirants who want to appear for IBPS PO 2020 are all curious to learn about “What is IBPS PO Take home Salary”?
What is IBPS PO Salary? आईबीपीएस पीओ की सैलरी – It is a most asked question among all of the banking aspirants who are preparing for ibps PO exam. Good news for all of you that department is going to enhance the 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 2020 etc.
- Recommended – Register for Free IBPS PO Mock Tests
Candidates ask this question many a time 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.
IBPS PO Salary Structure in Detail
आईबीपीएस पीओ सैलरी का ढाचा – Probationary Officer (PO) is a starting level post of an officer in a bank. So you will have kept under approx 1 to 2 years of the probation period is also called a training period. In which you learn basic and essential duties of a PO in the bank.
Here is a complete guide to IBPS PO Job Profile you should check it for know 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 Salary details 2020
|Total (without HRA)||36570.38|
|Gross with HRA||38703.38|
|Gross Annual CTC (with HRA but without leased accommodation)||5,57,640.52|
- आईबीपीएस पीओ सिलेबस हिंदी
- Download IBPS PO Admit Card 2020.
- Difference Between IBPS PO and Clerk Salary
- IBPS PO Vs SBI PO Salary
- Expected IBPS PO cut off marks 2020
- IBPS Clerk Officer Job Profile
- Recommended – SBI Bank PO Exam Mock Test + Video Session
|IBPS PO Notification 2020: An Overview|
|Exam Name||IBPS PO 2020 – Common Recruitment Process (CRP PO/MT-VIII)|
|Conducting Authority||Institute of Banking Personnel Selection (IBPS)|
|Name of Post||IBPS Probationary Officers / Management Trainees (Junior Management Grade – Scale I)|
|Participating Organizations||Public Sector Banks 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 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 the details here. In addition to Basic Pay, bank officers (i.e. Probationary Officers / PO / Management Trainees) are eligible for the following allowances –
|IBPS PO Salary: 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.|
- IBPS Exam Preparation Test-Series Pdf Download
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- Also Check:- Banking Career Information
IBPS PO Other Benefits & Perks
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 to 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
- Recommended – SBI PO Prelims Mock and Sectional Tests
- Documents required for IBPS PO Interview
- Caste Certificate for IBPS PO Interview
- IBPS PO Vs IBPS RRB Officer
Some of the other benefits also in the queue but it may vary from bank to bank and place of posting (rural / semi-urban / metro cities). Such as Entertainment, Telephone, Canteen Subsidy, etc.
|IBPS PO Notification 2020||IBPS PO Exam Pattern 2020|
|IBPS Probationary Officer Syllabus||IBPS PO Exam Dates 2020|
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 (IBA) check it.
|Increment (Percentage) %||Basic Pay||Gross Salary|
7th Pay Commission effect on IBPS PO 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 the Government of India is also not planning to include bank employees under the seventh pay commission. Wait for further notification. Also, Check IBPS Preparation Tips 2020.
Why Bank PO as a Career option?
As the 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.
|What is the Job Profile of IBPS RRB Office Assistant?||What is the work of IBPS RRB Officer in banks?|
IBPS PO Career and Promotions –
|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|
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 the 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 for the brilliant officers to succeed in the highest Management Grade in a short duration.
|SSC CHSL (10+2) Salary 2020||SSC JE Salary and Career Growth|
|CDS Officer Salary 2020||NDA Officer Salary 2020|
- 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, hardworking and knowledgeable employees will be assigned on a higher scale in a short period.
- Most of the bank’s officers reach 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.
|English Preparation Tips for IBPS PO||Reasoning Preparation Tips for IBPS PO|
|General Knowledge Preparation Tips for IBPS PO||IBPS PO Prelims and Mains Syllabus 2020|
Hope this complete guide on “IBPS PO Salary” is useful for you, and now you have the clear answer to this question that How much is the 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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Frequently Asked Question
IBPS PO Salary according to the experience. Check the Information given below
Median Pay Scale of PO as Per Years of Experience:
Years of Experience: 1 year to 4 years = INR 3 lakh
5 years to 9 years = INR 5.7 lakh
10 years to 19 years = INR 6.8 lakh
More than 20 years = INR 10 lakh
A bank PO is a reputed and a good Kickstarter and very promising job for those who wish to pursue a banking career.
There are ample avenues both personally and professionally. You may be aware that all the successful chairmen of public sector banks have started their careers as probationary officers.
Working in banks offers multiple avenues as well as the possibility of career progression, and good pay and benefits.
It is a challenging profession that has the potential to grow and restore people faith in the industry.
The total salary posted of an IBPS PO salary posted at a metro city will be around Rs.37145/-. However, the total salary of an IBPS PO joining in a rural area will be about Rs 35,800/- (including HRA).
The updated and revised initial Basic Pay of a PO is Rs. 23,700/- from 1st June 2015 onwards. IBPS PO also receives an annual increment of Rs.980, which is paid up to the seventh year.