SBI PO Salary 2024, Salary Structure, Job Profile, Perks & Benefits

Clearing the SBI PO exam not only opens the door to a prestigious career but also offers attractive pay. As one of the leading public sector banks in India, SBI offers its probationary officers a competitive salary structure, which includes basic pay, allowances and various perks. SBI PO salary comes with several benefits such as housing allowance, dearness allowance and medical coverage.

SBI PO Salary 2024

With the recent amendments after the 12th bilateral agreement, the average annual SBI PO salary can now reach up to Rs 8 lakh, making it one of the most rewarding professions in the banking sector. For interested candidates, the given article provides a detailed account of the revised SBI PO salary along with the perks, benefits, job profile and career growth.

SBI PO Salary: Overview

The bilateral agreement between the banks and the employees forms the basis of SBI PO Salary 2024. The salary of Probationary Officer in SBI is subject to revision from time to time. Candidates can get a summary of the salary mentioned in the official notification through the table provided.

SBI PO Salary Structure 2024

As per the SBI PO Salary, The basic pay of an employee is Rs 48,480 Pay Scale Rs. 48480-2000/7-62480-2340/2-67160-2680/7-85920. Here, in the given table, Candidates can check the SBI PO Salary Structure 2024.

SBI PO Salary Cut 2024

SBI POs get various allowances, which they can claim while filing their ITR and figuring out their tax obligations. All the admissible deductions from the SBI PO salary structure 2024 are listed in the table below.

• Dearness Allowance, which is 48.51% of the basic pay
• City compensatory allowance, ranging from 3% to 4% depending on the location of the employee
• House Rent Allowance, 7% to 9% depending upon the place of posting
• Medical insurance, which includes 100% coverage for the employee and 75% coverage for dependent family
• Travel allowance, which reimburses the employee the AC 2-tier fare while on official travel
• Additional allowances like Newspaper Allowance, Entertainment Allowance and Book Allowance vary depending upon the place of posting.
• Cashless treatment at selected medical facilities across the country
• Concessional interest rates for home loans, car loans and personal loans
• New Pension Scheme Contribution
• Leave Travel Concessions (LTC).

Here is the detail of allowance amount and percentage as per the SBI PO salary 2024 structure:

SBI PO Job Profile and Promotion

The daily duties of an SBI Probationary Officer include the following:,

• Oversee administrative tasks, loan processing, setting up bank accounts, and customer service, among other duties.
• Promoting new schemes
• Bringing new customers to the bank
• Any other work as assigned by the Bank from time to time.
• Instruction is provided on-site, such as at SBI training facilities.

SBI PO Promotion Hierarchy

SBI offers a well-defined promotion hierarchy for Probationary Officers. The promotion hierarchy for SBI PO usually follows a structured path, allowing employees to progress based on their performance, experience, and qualifications. The SBI PO promotion hierarchy is outlined below.

• Assistant manager
• Deputy Manager
• Manager
• Senior Manager
• chief Manager
• Assistant General Manager (AGM)
• Deputy General Manager (DGM)
• General Manager (GM)
• Chief General Manager
• Deputy Managing Director
• Managing Director
• chairman

SBI PO Salary 2024 Annual Package

SBI Salary Annual Package is structured to provide attractive benefits to its employees. The annual package comprises of various components such as basic salary, allowances and perks, which collectively contribute to the overall remuneration. To calculate the SBI Salary Annual Package, the sum of basic salary, dearness allowance, HRA, city compensatory allowance and other benefits is considered. The total annual package may vary depending on various factors such as location (city X, Y and Z), experience, etc. The minimum gross compensation is expected to be around Rs 8.20 lakh per annum, while the maximum gross compensation will be around Rs 13.08 lakh per annum.