IBPS PO Salary Structure, Job Profile, Facilities and Perks

After the implementation of the 12th bilateral agreement, the salary of a probationary officer in a public sector bank is approximately Rs. 58,000 to Rs. 63,000. Net IBPS PO salary consists of basic pay along with various facilities and allowances. The pay scale for IBPS PO is as follows: Rs. 48480-2000/7-62480-2340/2-67160-2680/7-85920. Candidates who have participated in the IBPS PO 2024 recruitment drive must be familiar with other important aspects, such as job profile, career growth opportunities and promotion policy.

ibps po salary

The salary structure for Probationary Officer (PO) in Public Sector Banks (PSBs) is highly competitive and includes a variety of allowances and benefits. The basic salary per month is ₹48480, but Dearness Allowance (DA), House Rent Allowance (HRA), Special Allowances etc. increase the gross salary significantly. IBPS PO salary not only ensures financial stability but also offers many perks. Making the role rewarding and attractive. In this column, candidates can get all the necessary details regarding IBPS PO 2024 Salary.

Also check, ibps po admit card 2024

IBPS PO Salary Structure 2024

IBPS PO salary structure is important for the candidates. The salary also includes the facilities of Dearness Allowance (DA), House Rent Allowance (HRA), City Compensatory Allowance (CCA), Special Allowance etc. The gross salary is estimated to be around ₹68000. After deduction practice, the in-hand salary of the candidate will be approximately ₹58000- ₹63000. IBPS PO salary structure is given below.

IBPS PO Salary: Cut

There are certain statutory deductions as per the rules, banks have to deduct the amount before monthly salary payment. Deductions are also required to calculate an individual’s income tax. The deductions are mentioned in the table below

IBPS PO Salary: Perks and Allowances

The detailed allowances and benefits offered as part of IBPS PO salary are given below,

1. House Rent Allowance (HRA): HRA for IBPS PO is calculated depending on the place of posting and can range from 9.0%, 8.0% or 7.0% of the basic pay, depending on whether the posting is in metros, big cities or other locations. Is it or not?
2. Dearness Allowance (DA): IBPS PO officers get DA, which is a percentage of the basic pay. At present it is approximately 15.73% of the basic pay. DA is revised every three months based on All India Consumer Price Index data.
3. Special Allowance (SA): This allowance was introduced on 01.01.2016 and is approximately 7.75% of the basic pay.
4. City Compensatory Allowance: City compensatory allowance varies depending on the type of city and can be 0%, 3% or 4%.

Apart from these allowances, there are other allowances and benefits for IBPS Probationary Officers, which include traveling allowance, newspaper reimbursement, medical assistance and benefits under the New Pension Scheme.

IBPS PO Job Profile and Promotion

IBPS PO is a highly respected job in the banking sector and offers many attractive benefits to its employees. Here is the detailed job profile for IBPS PO,

1. To assist customers in resolving their queries at branch level.
2. To oversee and manage the day-to-day operations and activities of the branch.
3. Handling public relations and resolving customer issues and concerns.
4. Managing and processing customer transactions including loan applications.
5. To actively contribute to business growth by attracting new customers and promoting bank services and products.

IBPS PO offers excellent career opportunities for talented and ambitious individuals. Banks follow standardized guidelines laid down by the Ministry of Finance, Government of India for promotional policies. Promotion in IBPS PO can be achieved through two channels: Qualification channel and general channel. Here is the career development of IBPS PO 2024.

1. Middle Manager – Middle Management Grade Scale 2
2. Senior Manager – Middle Management Grade Scale 3
3.Chief Manager – Senior Management Grade Scale 4
4. Assistant General Manager – Senior Management Grade Scale 5
5. Deputy General Manager – Top Management Grade Scale 6
6. General Manager – Top Management Grade Scale 7
7. Executive Director
8. Chairman and Managing Director

IBPS PO Promotional Channel

As the career of a Probationary Officer progresses, the scale and salary of the individual also increases. Here are the details of IBPS PO promotions,

1. MMGS II (Middle Management Grade Scale-II): Basic salary ranges from Rs 31705 to Rs 45950.
2. MMGS III (Middle Management Grade Scale III): Basic salary usually ranges from Rs 42020 to Rs 51490.
3. SMGS IV (Senior Management Grade Scale IV): Basic salary usually ranges from Rs 50030 to Rs 59170.
4. SMGS V (Senior Management Grade Scale V): Basic salary usually ranges from Rs 59170 to Rs 66070.

ibps po promotion policy

When it comes to the terms of promotion policy, a large number of public sectors adhere to the guidelines regulated by the Finance Ministry. Public sector banking systems channel two promotion conditions i.e. general channel and merit channel. IBPS PO salary 2024 structure is also regulated through some conditions which you can read in this article.

IBPS PO Salary 2024: Annual Package

Participating banks offer competitive annual salary packages to POs recruited through IBPS PO exam. The annual package includes basic salary as well as various facilities and allowances, which will be credited to Approximately ₹7.2 lakhAdditionally, IBPS POs can qualify for performance-based incentives and bonuses, which will increase their overall earnings. It is important for individuals interested in joining the banking sector as Probationary Officer through the IBPS recruitment process to understand the annual salary package.

IBPS PO Participating Banks

Along with the IBPS PO Notification PDF, IBPS also notifies the list of participating banks participating in the recruitment process. As per the previous year PDF, we have listed the IBPS PO participating banks.

• Canara Bank
• Allahabad Bank
• Syndicate Bank
• Indian Overseas Bank
• Andhra Bank
• Oriental Bank of Commerce
• Central Bank of India
• UCO Bank
• Corporation Bank
• Bank of Baroda
• Punjab National Bank
• Bank of India
• Union Bank of India
• United Bank of India
• Punjab and Sindh Bank
• Bank of Maharashtra