What is the salary of an IBPS PO officer?

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In Indian banking sector, IBPS is one of the biggest examinations conducting body. IBPS affiliated bank branches are spread nationwide and outside India too. The post of IBPS PO can be considered to be entry level position where a bank officer starts working and undergoes rigorous training of 2 year probation period. After the completion of this probation period, he gets the post of Assistant Manager on joining an IBPS branch. Fundamentally speaking, the role and duties of IBPS PO involves general banking activities and jobs which are related to bank administration. Hence, a competent IBPS PO is supposed to posses excellent communication skills to develop friendly relationships with customers.

In Indian job market, an IBPS PO gets a reasonably higher salary in the entry level than majority of private sector employees. The initial salary of IBPS PO is around Rs. 12, 93,000 per annum. It is because of this attractive salary packages that allures millions of aspirants for the job of IBPS PO, every year.

Besides earning  handsome salary packages, IBPS PO enjoys various allowances like Dearness Allowance, City Compensatory Allowance, HRA or House Rent Allowance, Furniture Allowance, Medical Allowance, Travelling Allowance, Petrol Allowance, Newspaper Allowance, Entertainment Allowance, Briefcase Allowance, etc. These cheering enticement and striking perks give every IBPS PO, a complete job satisfaction. These compensations vary between 7.5 to 12.9 million per annum that allow them to meet their personal needs.

IBPS PO Exam

IBPS PO has following salary break-up:

Basic Pay

INR 27,620

Pay Scales Applicable

23,700 – 980/7 – 30,560 – 1,145/2 – 32,850 – 1,310/7 – 42,020

Dearness Allowance

46.9% of Basic Pay

City Compensatory Allowance

3% – 4% depending on City

House Rent Allowance

7% – 9% depending on City/Place of Posting

Furniture Allowance

INR 1,20,000

Medical Insurance

100% covered for employee; 75% covered for family members

Travelling Allowance

AC 2-tier fare is reimbursed to the employee for official travels

Petrol Allowance

INR 1,100 – 1,250

Newspaper Allowance, Entertainment Allowance, Books Allowance, etc.

Varies based on Cadre

Gross Compensation

INR 7.55 lakh – INR 12.93 lakh per annum

As compared to other posts, an IBPS PO gets a higher salary package and therefore graduates from every stream endeavor for it. 

There are some major benefits enjoyed by IBPS PO and they are: -

1.   Unbiased leave strategy 

 

 IBPS PO gets the benefit of unbiased leave strategy where they one gets 12 casual leaves besides 30 privilege leaves, and 15 medical leaves per year. The female PO’s are granted maternity leave for 6 months.

 

 

2.   Leave travel allowance –

 

 

Every IBPS PO gets the benefit of LTC (Leave Travel Concession) once in 2 or 4 years, where they can stay in any of IBPS provided guests houses. It formulates this job to have a fun-filled travelling experience.

 

3.   Striking compensation package –

 

In India, IBPS POs are provided a package where an employee can choose to monetize certain fraction of their compensation package. This compensation package is helpful at the time of retirement of employee.

 

 

 

4.   Customary training and specialized development  program

 

 

IBPS PO gets full organizational support from higher authorities. Whenever there is any change initiated in the system, IBPS PO enjoys regular training and development program. This training module keep IBPS PO is reorganized with the latest developments in the system without any support from outside sources.

 

Hope this discussion has made it crystal clear the reasons why millions of graduates look for the job of IBPS PO.

IBPS PO exam is held in the form of recruitment drive where candidates have to qualify all the selection stages. These can be comprehensively prepared either by joining IBPS COACHING institute or IBPS video courses according to your preferences. It will help you qualify the exam in the first attempt.

All the Best!!!

Author Bio: This content is prepared and publish from IBT Institute offering coaching classes for IBPS PO Exam.


Location: India

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