IBPS PO Salary 2024, Pay Scale, Salary Structure

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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. The IBPS PO Salary for 2024 comprises a pay scale ranging from approximately Rs. 36,000 to Rs. 38,000 per month. This includes basic pay, dearness allowance, house rent allowance, and other allowances. Additionally, employees receive benefits such as medical coverage, pension, and leave allowances. In this blog, we will provide you with the details of the IBPS PO Salary 2024 and the in-hand salary.

IBPS PO Salary 2024

The IBPS PO Salary structure for 2024 includes various components. The basic pay is Rs. 36,000, along with a Special Allowance of Rs. 5,904, Dearness Allowance of Rs. 8,593.20, and CCA of Rs. 1,400. Additionally, there’s a Learning Allowance of Rs. 600 and DA Others of Rs. 1,552.50. Housing Rent Allowance amounts to Rs. 3,240, making the Gross Salary Rs. 57,289.70. After deductions for Professional Tax and NPS, the Net Salary comes to Rs. 52,630.38.

ComponentsAmount
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 in Hand

The IBPS PO Salary in hand ranges from Rs. 52,000 to 55,000, including dearness allowances, special allowances, HRA, and other perks. The Gross Salary is approximately Rs. 57,000, and after the deduction of professional tax and NPS, the net in-hand salary remains within the range of Rs. 52,000 to 55,000.

ComponentAmount (Rs.)
Initial In-Hand Salary52,000 – 55,000
Dearness Allowance (DA)Included in Basic
Special AllowanceIncluded in Basic
Housing Rent Allowance (HRA)Included in Basic
Other PerksIncluded in Basic
Gross SalaryAround 57,000
Deductions
Professional TaxDeducted
NPS (National Pension Scheme)Deducted
Net In-hand Salary52,000 – 55,000

IBPS PO 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

These allowances play a significant role in determining the total salary package for an IBPS PO, along with the basic salary and other perks.

AllowancePercentage of Basic SalaryDescription
House Rent Allowances (HRA)9.0%, 8.0%, or 7.0%Depending on the posting location (metros, big cities, or other locations)
Dearness Allowance (DA)VariesGranted as a percentage of basic salary. As of November 2017, revised from 39.8% to 23.87%
Special Allowance (SA)7.75%Implemented in wage revision, added to basic salary. Implemented since November 2017.
City Compensatory Allowance (CCA)0%, 3%, or 4%Varies based on city type (metros, big cities, or other locations)
Related LinksRelated LinksRelated Links
IBPS PO 2024 NotificationIBPS PO Exam Dates 2024IBPS PO 2024 Application Form
IBPS PO Eligibility CriteriaIBPS PO SyllabusIBPS PO Admit Card 2024
IBPS PO Result 2024IBPS PO Cut Off 2024IBPS PO Salary

IBPS PO Salary Slip 2024

We provide details of the IBPS PO Salary Slip. This IBPS PO Salary Slip 2024 helps you understand the salary credited to an IBPS Probationary Officer’s account.

IBPS PO Salary Slip 2024 Image

IBPS PO Career Growth in 2024

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

DesignationGrade Scale
Middle ManagerMiddle Management Grade Scale 2
Senior ManagerMiddle Management Grade Scale 3
Chief ManagerSenior Management Grade Scale 4
Assistant General ManagerSenior Management Grade Scale 5
Deputy General ManagerTop Management Grade Scale 6
General ManagerTop Management Grade Scale 7
  • Executive Director
  • 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.

  1. Training: The selected IBPS PO candidate is appointed as an Assistant Manager and undergoes training in the Training Academies of the bank. The duration of this training period varies from bank to bank.
  2. Post-training: After completing the training, the candidate is posted to another branch based on the bank’s discretion and undergoes a probation period of 2 years. During this time, the candidate gains exposure to various aspects of banking.
  3. Probation period: Throughout the probation period, the candidate is exposed to practical aspects of banking such as Marketing, Finance, General Banking, and Investment to familiarize them with bank operations.
  4. Responsibilities after probation: Upon confirmation as Assistant Manager, the PO is tasked with:
  • Managing the front desk: Guiding customers, addressing complaints, introducing products, and issuing DDs, cheques, and ATM cards.
  • Bringing new business: Promoting new schemes and attracting new customers to the bank.
  • Supervising work: Overseeing Bank Clerks’ tasks like Cash Management, Account opening, and customer interactions, as well as authorizing and verifying cash transactions.
  • Handling various departments: Having working knowledge of departments such as Marketing, Finance, Loans, and Accounting.
  • Processing loans: Supervising the loan process, including documentation and disbursal.

IBPS PO Salary 2024 – Conclusion

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IBPS PO Salary 2024 – FAQs

Q1. What is the IBPS PO in hand salary?

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

Q2. What is the basic pay for the IBPS PO 2024?

Ans. Rs.36,000 is the basic pay for the IBPS PO 2024.

Q3. What are the allowances apart from basic salary?

Ans. Apart from the basic salary, IBPS POs receive allowances such as Dearness Allowance (DA), House Rent Allowance (HRA), City Compensatory Allowance (CCA), and Special Allowances.

Q4. Are there any perks associated with the IBPS PO posts?

Ans. Yes, apart from the salary and allowances, IBPS POs enjoy perks such as medical benefits, pension, and other facilities provided by the respective banks.

Q5. Does IBPS conduct the Probationary Officer exam annually?

Ans. Yes, IBPS conducts the Probationary Officer exam every year to recruit candidates in public sector banks.


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