IBPS PO Salary & Job Profile: IBPS Probationary Officer (PO) role offers a handsome salary, numerous allowances, and growth opportunities. In this article we have provided a detailed overview of IBPS PO salary structure, job profile, and career progression.
IBPS PO 2024 Job Profile & Salary
IBPS PO role offers an attractive salary package, inclusive of allowances and perks, based on the 7th Pay Commission and the 11th Bipartite Agreement. With a starting basic pay of ₹36,000 and gross salary around ₹57,289, POs also enjoy benefits like HRA, DA, and medical aid. The job profile involves handling customer queries, branch operations, loan processing, and business growth. IBPS PO provides structured career growth with opportunities for promotion to senior managerial roles.
IBPS PO Salary Structure
The salary structure for IBPS PO is competitive and based on the 7th Pay Commission and 11th Bipartite Settlement. Below is the revised salary breakdown:
|
Component |
Amount (₹) |
|
Basic Pay |
36,000 |
|
Special Allowance |
5,904 |
|
Dearness Allowance (DA) |
8,593.20 |
|
City Compensatory Allowance (CCA) |
1,400 |
|
Learning Allowance |
600 |
|
DA (Others) |
1,552.50 |
|
House Rent Allowance (HRA) |
3,240 |
|
Gross Salary |
57,289.70 |
|
Deductions (Tax & NPS) |
4,659.32 |
|
In-hand Salary |
52,630.38 |
Allowances and Perks for IBPS PO
Along with the basic pay, IBPS POs enjoy various allowances:
|
Allowance |
Details |
|
HRA |
7%-9% of Basic Pay, based on posting location |
|
Dearness Allowance (DA) |
23.87% of Basic Pay; varies with inflation rates |
|
Special Allowance (SA) |
7.75% of Basic Pay |
|
City Compensatory Allowance (CCA) |
0%, 3%, or 4% depending on location |
|
Medical Aid |
₹8,000 per annum |
|
Leased Accommodation |
Based on city tier; some banks provide quarters |
|
Travel Allowance |
Fixed TA or reimbursement for petrol bills |
|
Newspaper Reimbursement |
Monthly reimbursement for newspaper subscriptions |
IBPS PO Salary Increment:
Increment under the 11th Bipartite Agreement ensures timely hikes in salaries. The new increments based on percentages are:
|
Increment % |
Basic Pay (₹) |
Gross Salary (₹) |
|
15% |
26,706 |
37,068 |
|
20% |
27,866 |
38,678 |
|
25% |
29,026.00 |
40,288 |
|
30% |
30,187 |
41,899 |
Job Profile of an IBPS PO:
An IBPS PO is trained for multifaceted roles during their probation. Key responsibilities include:
- Customer Service: Addressing queries, resolving complaints, and maintaining relations.
- Operational Tasks: Supervising branch activities, daily transactions, and audits.
- Finance Management: Billing, accounting, and handling revenue details.
- Loan Processing: Evaluating and approving loan applications.
- Business Growth: Bringing in new accounts and increasing business for the bank.
IBPS PO Career Growth:
The IBPS PO position offers structured promotions and growth paths:
|
Career Hierarchy
|
|
Promotions with Salary |
|
|
Designation |
Salary Range (₹) |
|
Middle Manager (Scale II) |
31,705 – 45,950 |
|
Senior Manager (Scale III) |
42,020 – 51,490 |
|
Chief Manager (Scale IV) |
50,030 – 59,170 |
|
AGM (Scale V) |
59,170 – 66,070 |
IBPS PO job not only offers a lucrative salary package but also ensures long-term career growth and job stability. With opportunities for regular promotions, allowances, and perks, it remains one of the most sought-after roles in the banking sector.
|
Related Important Links |
|
IBPS PO Mains Syllabus & Exam Pattern |
|
IBPS PO Salary Structure |
FAQs: IBPS PO Salary and Job Profile 2024
What is the starting salary of IBPS PO?
The starting basic pay is ₹36,000, with a gross salary of around ₹57,289.
Is IBPS PO job stressful?
It can be stressful due to responsibilities like meeting targets and handling customer issues, but proper training and support ease the challenges.
Can SBI PO earn 2 lakh per month?
With experience, promotions, and perks, an SBI PO can potentially earn up to ₹2 lakh per month in higher roles.
Which is the highest post in a bank?
The highest post is Chairman and Managing Director (CMD).
What is the first month salary of IBPS PO?
The first-month in-hand salary is approximately ₹52,630 after deductions.
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