IBPS PO Salary 2024, In Hand Salary, Pay Scale, Perks

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IBPS PO Salary 2024 is designed to attract top talent with its appealing pay structure. Each year, graduates eagerly apply for this role, drawn by the competitive salary. IBPS PO Salary is determined by the bipartite settlement rather than the 7th pay commission. As per the 11th Bipartite Agreement, which was updated in November 2020, the basic monthly pay for IBPS PO has been set at Rs. 36,000. This revised salary structure became effective from November 2017, making it an attractive option for many banking aspirants.

IBPS PO Salary 2024

The IBPS PO Salary 2024 also includes various allowances and benefits, significantly boosting the gross salary. In addition to the basic pay, officers receive dearness allowance (DA), house rent allowance (HRA), and special allowances. These perks ensure financial stability and make the role highly rewarding. The comprehensive salary package, along with career growth opportunities and promotion policies, makes the IBPS PO role both financially and professionally appealing for candidates.

IBPS PO Salary Structure 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.

Components	Amount
Basic Pay	Rs. 36,000
Special Allowance	Rs. 5,904
Dearness Allowance	Rs. 8,593.20
CCA	Rs. 1,400
Learning Allowance	Rs. 600
DA Others	Rs. 1,552.50
Housing Rent Allowance	Rs. 3,240
Gross Salary	Rs. 57,289.70
Deduction (Professional Tax & NPS)	Rs. 4,659.32
Net Salary	Rs. 52,630.38

IBPS PO Salary in Hand

An IBPS Probationary Officer starts with an initial salary package that includes various allowances and perks. The total gross salary is about Rs. 57,000, but after deductions, the net in-hand salary typically ranges from Rs. 52,000 to Rs. 55,000.

Salary Component	Amount (Approx.)
Basic Pay	Rs. 36,000
Dearness Allowance (DA)	Included in Gross
House Rent Allowance (HRA)	Included in Gross
Special Allowance	Included in Gross
Gross Salary	Rs. 57,000
Net In-Hand Salary	Rs. 52,000 – Rs. 55,000

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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 Components	Details
IBPS PO Basic Pay	Rs. 36,000/- ( Increment in 4 stages)
House Rent Allowances	7%-9% of the basic pay
Dearness Allowance	23.87% of the Basic Pay (Varies based on inflation rates)
City Compensatory Allowance (CCA)	3% or 4%(depending on the place of posting)
Special Allowance	7.75% 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.

Allowance	Percentage of Basic Salary	Description
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)	Varies	Granted 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)

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 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

Designation	Grade Scale
Middle Manager	Middle Management Grade Scale 2
Senior Manager	Middle Management Grade Scale 3
Chief Manager	Senior Management Grade Scale 4
Assistant General Manager	Senior Management Grade Scale 5
Deputy General Manager	Top Management Grade Scale 6
General Manager	Top 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.

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.
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.
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.
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.

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IBPS PO Salary 2024 – Conclusion

We hope this blog gave you a better understanding of the IBPS PO Salary 2024. To read more such blogs, visit the Oliveboard website

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.

Vaishnavi Kumari

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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