The banking sector is one of the top-most chosen careers by most of the youngsters. In the banking sector, the Institute of Banking Personnel Selection (IBPS) is one of the highest banking sectors which conducts a recruitment drive to fill in various vacancies across the organization. IBPS conducts recruitment drive for various posts like Probationary Officer, Specialist Officer, Clerk, and many more. IBPS PO is one of the highest demand jobs as it is chosen by most of the youngsters. If you are one among the bank job aspirant and looking forward to applying for various posts in IBPS, then here you go. Know in detail about the IBPS PO Salary and Job Profile. Go through the blog completely to know more. Go through the IBPS PO Syllabus and Exam Pattern if you are taking up the upcoming IBPS PO Exam.
IBPS PO Salary
The Basic IBPS PO Salary is 23700-(980×7)-30560-(1145×2)-32850-(1310×7)-42020 i.e., upon joining, the IBPS PO Salary will be Rs 23700. In addition to the salary, there will be other allowances. The POs will also get an annual increment of Rs 980 for 7 years that are as listed below
Basic Pay after 7 years – Rs 30560
Basic Pay after 2 more years – Rs 32850
Basic Pay after 7 more years – Rs 42020
Apart from this basic IBPS PO Salary, the officers are entitled to various allowances and perks listed below
|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 a 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|
|Leased Accommodation||In some locations, the bank provides accommodation/quarters to the POs. In such cases, the HRA is not provided. The amount goes directly to the owner of the accommodation.|
|Travelling Allowance||The bank also provides Travelling Allowances to the POs. Otherwise, the expenses on petrol are reimbursed.|
|New Pension Scheme|
IBPS PO Job Profile
The Probationary Officers receive great IBPS PO Salary for which they need to handle various responsibilities like
1. IBPS POs have to perform multi-task and work in all the departments of the bank, which involves working in various banking activities.
2. They need to have practical knowledge of how to work in and manage different departments of the bank, like Finance, Accounts, Marketing, Loans, etc.
3. They also act as supervisors to bank clerks in various departments.
4. One of the biggest responsibilities of IBPS Probationary Officers is to verify documents, do the necessary formalities and process loans.
5. Customer support and services is another important responsibility of POs. They handle the customer queries related to issuing cheque books, opening bank accounts, Demand Drafts (DD), ATM, etc.
IBPS PO Career Growth
IBPS PO is an entry-level post in the banking sector. There are ample amount of growth opportunities in this profile. The Career growth of an IBPS PO depends on the performance and potential. There are many officers who have been promoted to General Manager post in a span of 14 years. The career growth of IBPS PO is shown below
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
Thus, IBPS PO is one of the best options to choose in the banking sector. It is one of the best government jobs in India that provides great IBPS PO salary and growth opportunities. It also provides the scope to learn a lot of things. If you are one among the banking sector aspirant, then start applying for the IBPS PO Jobs. Start preparing as well with a wide range of IBPS PO Preparation Books available online.