IBPS PO 2018 Salary and Work Profile, Read this blog to know more about the Salary and Work Profile for IBPS PO 2017
What is IBPS?
The Institute for Banking Personnel Selection is a self-governed body whose mission is to recruit the best candidates for banks in India through personal assessment. In 2011, IBPS introduced a Common Written Examination (IBPS CWE-VII) to recruit Officers and Clerks in all Public sector and Regional Rural Banks across the nation.
Salary of IBPS PO
Candidates who clear the IBPS PO Selection Procedure will be recruited as Probationary Officers into one of the 27 Public Sector Banks across India. The Salary structure for POs is as follows:
Almost all the PSBs offer a similar pay structure to newly recruited POs. The latest revision in the salary as per the agreement signed in May 2015, came into effect on 1st of January, 2016. The revised pay structure looks something like this
23700 + (980 X 7) + (1145 X 2) + (1310 X 7)
The following allowances are included apart from the Base pay of 23,700.
- Dearness Allowance (DA) :- As per latest revision in Jan 2016, the DA should be 39.80% of the Base pay. The DA is revised quarterly and is based on CPI data provided by Government of India.
- House Rent Allowance (HRA) :- This can go upto 9.0% depending on the location of posting.
- Special Allowance (SA) :- According to latest revision, special allowance amounts to 7.75% of the basic pay.
- City Compensatory Allowance (CCA) :- Also dependent on posting location. Can go upto 4%.
Hence, after excluding HRA, a PO's in-hand salary can be anywhere near 35,700-36,570.
- Leased Accommodation
- Travelling Allowance
- Medical Aid
- Newspaper Reimbursement
A Candidate who makes it to the final merit list, enters one of the PSBs as a Scale 1 Officer. Most of the well-known bankers started their careers as Scale 1 Officers. Optimum performance and potential are the two key factors that will decide the growth of the Candidate. Frequent revisions in the promotion policy have only benefited the hardworking, committed individuals by speeding up their career growth. Some PSBs have branches abroad. So, the harder you work, more the chance of a foreign posting.
Daily tasks of a PO include
- Loan Processing
- Supervising Clerical work
- Customer Service
- Multitasking on demand
- Subject Matter Experts
IBPS PO Career Ladder
Scale 1 Officer i.e., PO → Manager → Senior Manager → Chief Manager → Assistant General Manager → Deputy General Manager → General Manager → Executive Director → Chairman & Managing Director
Click below to know more detail about:
Preparing for IBPS PO, RRB and other Bank Exams, Register for our IBPS PO Prelims 2018 Test Series with around 20 mocks, 50 live sessions and 75+ practice tests with comprehensive online assessment.