Banking sector is one of the top career chosen by most of the candidates across the country. Candidates wish to choose bank jobs as a career as it has a lot of growth opportunities and career growth. There are many banking organizations which recruit a large number of candidates every year. Some of the top banking sectors are SBI and IBPS. These both are the top organization across the country which conducts recruitment drive every year to hire candidates for a various position like Probationary Officer (PO), Clerk, Special Officer (SO), and many more. If you are one among the aspirant looking to work in a bank and thinking which organization is better. Then here you go. We have provided a detailed comparison of SBI PO vs IBPS PO. Know which is better and start applying for PO jobs now.
SBI and IBPS both offer the same job profile but the main difference is in terms of career prospects, salary and work environment. So to provide a clear insight into the post, we have compiled the analysis of both the banking organizations. Go through the blog to know more in detail.
Job Description of a Probationary Officer (PO)
The job profile for both SBI and IBPS are same. Apart from administrative work, a PO needs to handle more work which is as listed below:
- Dealing with the customers – The assistant manager as the name implies has to give his assistant to the customers arriving at the bank. A PO is asked to solve the customer’s queries, their problems and handle their grievances.
- Marketing Services – The assistant manager has to play marketing strategies also with the customers as he directly deals with them on normal issues so to promote the bank’s new offers, or to promote Fixed Deposits, Insurance, Bonds, Mutual funds etc, he has to fight this uphill battle and achieve the given targets.
- PO will not be given the targets as soon as he/she join the job. The PO will be just asked to make aware the customers about the bank’s new plans and gradually with the time being, they will set targets for you. Until that time, you will become habitual with the work.
- Cashier Role – A PO will have to collect cash from the cashier and cash disbursal activities which are in itself a very responsible activity. The PO needs to take care of the proper availability of cash at the ATM’s which is connected with your banks. Moreover, the PO needs to take care of every single payment and collection which you will do via cheque, demand draft NEFT/RTGS.
- Reporting Reports – PO needs to carry out reporting activities to for each and every transaction conducted in your bank so that to avoid big mistakes or fraud at later stages. PO will be required to do this at every end of the day. Also, the PO may have to perform scrutiny check over the work of the clerks to maintain the quality of reports.
SBI PO vs IBPS PO Salary Structure
|PO Salary Structure||IBPS PO Salary||SBI PO Salary|
|Basic Pay||Rs. 23700/-||Rs. 27620/- (4 Increments also applicable)|
|Annual Increment||Rs. 980 for 7 years||Rs. 980 for 7 years|
|DA||39.80% of the Basic Pay (Revised Quarterly)||46.9% of the Basic Pay (Revised Quarterly)|
|CCA||@4%, 3% or 0%||@4%, 3% or 0%|
|Special Allowance||7.75% of the Basic Pay||@ the rate of 7.75%|
|HRA||9%, 8% or 7% (Depends on the place of posting)||Depends on the place of posting|
|Total Salary||Rs. 37,360 -38,700/month||Rs. 45,000 /month (Depends on HRA)|
SBI PO vs IBPS PO Other Perks
The Perks vary from bank to bank and SBI is known to be offering the best perks to its employees in any designation. Hence, SBI PO is preferable that of IBPS PO. Following is the list of perks offered for a PO in the banking sector:
1. Leased accommodation
2. Travelling Allowance
3. Newspaper Reimbursement
4. Medical Aid
5. Pension Benefits
SBI employees get complete medical aid for self and 75% for families. Considering this, they are paid Rs. 6000 more than any other bank PO.
SBI PO vs IBPS PO Work Environment
|SBI PO Work Pressure & Environment||IBPS PO Work Pressure & Environment|
|SBI is one of the largest and oldest banks in India with 24,000 branches across the country. The bank constitutes around 50% of the banking services of India after the merger. Thus, customer engagement is more and eventually the work pressure increases.||As far as IBPS is concerned, most of the banks are not accessible in rural areas. Hence, the number of customers in these banks are less compared to SBI, which results in less work pressure.|
SBI PO vs IBPS PO Career Growth
The career path for SBI and IBPS are almost the same which is as follows
- Junior Management Grade – Scale I: Probationary Officer or Assistant Manager
- Middle Management Grade – Scale-II: Manager
- Middle Management Grade – Scale III: Senior Manager
- Senior Management Grade – Scale IV: Chief Manager
- Senior Management Grade Scale V: Assistant General Manager
- Top Management Grade Scale VI: Deputy General Manager
- Top Management Grade Scale VII: General Manager
- Executive Director (ED)
- Chairman and Managing Director (CMD)
Thus, choose the best among two organizations based upon your interest. Hope this blog has solved the knots of lots of confusions inside your mind about Difference between SBI PO vs IBPS PO. Stay tuned to more information. You can buy the latest various Bank PO Preparation Books for upcoming exams.