IBPS PO Salary 2023, Career Growth, Job Profile and Promotion

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IBPS PO Salary

IBPS PO Salary: The IBPS PO salary offers an attractive compensation package, making it a desirable career choice in the banking sector. As a Probationary Officer (PO) in the Institute of Banking Personnel Selection (IBPS), candidates can expect a competitive salary along with various benefits and allowances. The IBPS PO salary includes basic pay, dearness allowance, house rent allowance, medical benefits, and other perks. In this blog, we will provide you with the details of the IBPS PO Salary 2023 and the in-hand salary.

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IBPS PO Salary 2023

Knowing the salary is the first thing that any banking aspirant can do. Because it is necessary to know about the pay and perks of the career that one is intending to join. So, here we have provided the salary of IBPS PO as per the 11th Bipartite Agreement:

Basic PayRs. 36,000
Special AllowanceRs. 5,904
Dearness AllowanceRs. 8,593.20
CCARs. 1,400
Learning AllowanceRs. 600
DA OthersRs. 1,552.50
Housing Rent AllowanceRs. 3,240
Gross SalaryRs. 57,289.70
Deduction (Professional Tax & NPS)Rs. 4,659.32
Net SalaryRs. 52,630.38

IBPS PO Salary 2023 – In-hand Salary

The in-hand salary package offered to an IBPS PO is Rs. 52,000 to 55,000 with dearness allowances, special allowances, HRA, and other perks. The IBPS PO Gross Salary is around Rs. 57,000 and after the deduction of professional tax and NPS, the net in-hand salary remains around Rs. 52,000 to 55,000.

Benefits and Allowances

The IBPS PO gross salary comprises Basic, DA, HRA, CCA, and Special Allowance. The break up is as follows 

Salary ComponentsDetails
IBPS PO Basic PayRs. 36,000/- ( Increment in 4 stages)
House Rent Allowances7%-9% of the basic pay
Dearness Allowance23.87% of the Basic Pay (Varies based on inflation rates)
City Compensatory Allowance (CCA)3% or 4%(depending on the place of posting)
Special Allowance7.75% of the basic pay

IBPS PO Allowances

The allowances that make up the IBPS PO Salary are as follows-

  • House Rent Allowances: Depending on where the PO is posted, HRA can range from 9.0%, 8.0%, or 7.0% of the basic salary (i.e., metros, big cities, or other locations).
  • Dearness Allowance (DA): DA is granted to employees as a percentage of their basic salary (as of November 2017, it has been revised from 39.8% to 23.87% according to ACI data published by the Ministry of Statistics and Program Implementation.
  • Special Allowance (SA): Banks have included this allowance in their last wage revision. It amounts to about 7.75% of the basic salary. November 2017 marked the beginning of its implementation.
  • City Compensatory Allowance (CCA): It might be 0%, 3%, or 4%, depending on the type of city.
Related LinksRelated LinksRelated Links
IBPS PO Notification 2023IBPS PO Exam Date 2023IBPS PO Application Form 2023
IBPS PO Eligibility CriteriaIBPS PO SyllabusIBPS PO Admit Card 2023
IBPS PO Result 2023IBPS PO Cut Off 2023IBPS PO Salary

IBPS PO Career Growth in 2023

The career growth offered to Probationary Officers is very attractive providing vast opportunities to the PO in the organization. IBPS PO can aim for higher positions within the bank on the basis of their performance, knowledge, and experiences. Following is the career growth profile for an IBPS PO

  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 Job Profile

Probationary Officer in the banking sector is the reputation and most desired job profile among graduates. Here is the job profile for the post of bank PO in various banks in India.

Training: The selected IBPS PO candidate is appointed as an Assistant Manager and holds that designation throughout his/her probation period. The candidate will be trained in the Training Academies of the bank. This training period differs from bank to bank.

Post-training: After the training, the candidate is posted to some other branch, depending on the bank, and has to go through the probation of 2 years, during which the candidate is exposed to the different aspects of the Bank.

Probation period: During the probation period, the candidate is exposed to different practical aspects of banks such as Marketing, Finance, General Banking, Investment, etc., and various other banking activities to help them get familiar with the workings of the banks.

After the probation period, the PO is confirmed as Assistant Manager and has the following responsibilities:

Manage the front desk: This includes guiding the customers, handling their complaints, introducing them to the products available, and issuing DDs, cheques, ATM Cards, etc.

Bring new business: Duties include bringing new business to the bank and marketing the new schemes.

Supervise work: Duties include supervising the work of Bank Clerks like Cash Management, Account opening, and dealing with customers. PO is also responsible for authorizing and checking cash transactions and proofreading the entries done by Clerks.

Handle various departments: PO is required to have working knowledge in various bank departments such as Marketing, Finance, Loans, and advancing and Accounting.

Process the loans: PO is responsible for supervising the process of loan transactions such as providing and documenting loans.

IBPS PO Salary 2023 – Conclusion

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We hope this blog gave you a better understanding of the IBPS PO Salary 2023. To read more such blogs, visit the Oliveboard website!

IBPS PO Salary 2023 – Frequently Asked Questions

Q.1 What is the in-hand salary of the IBPS PO?

Ans. IBPS PO receives an in-hand salary of approx Rs.52,630

Q.2 What is the basic pay for the IBPS PO 2023?

Ans. Rs. 36,000 is the basic pay for the IBPS PO 2023.

Hey everyone, I’m Vaishnavi Kumari, an edtech writer and a dedicated aspirant for government exams, including banking and SSC exams. Having worked with several edtech platforms, I am committed to providing you with essential and accurate information to ace these exams. With my experience as both a writer and an aspirant, I understand your needs and challenges, and my aim is to make your preparation journey smoother. I’ll focus on specific sections of the exams, compiling comprehensive and helpful content that covers the crucial topics, tips, and strategies you need to succeed. Let’s conquer these exams together!


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