The Salary, Job Profile & Promotional Aspects that a job offers, often are the key drivers of motivation behind preparation for a particular exam. With the recent intimation of the IBPS PO Notification 2019 on the official website of IBPS with a total vacancy of 4336, it is a great opportunity for the Banking aspirants to turn their aspirations into reality. In this blog we will enlighten aspirants about the IBPS PO Salary, Job Profile & Promotional Aspects (career growth) that the job offers.
IBPS PO Salary and Allowances
Following is the present salary structure of a PO after the revision as per the 10th Bipartite Settlement
|Dearness Allowance||39.8% of Basic Pay|
|Special Allowance||7.75% of Basic Pay|
|HRA||9%, 8% or 7% (Depending on the location)|
|CCA||4%, 3% or 0 (Depending on the posting)|
|Medical Allowance||Rs.8000/- p.a|
The gross salary of a Bank PO is 37,360 – 38,700 depending on the bank and location of posting.
IBPS PO Salary 2019
The approximate Salary Structure breakdown is mentioned in the table below.
|IBPS PO 2019 Salary Structure|
|Total (without HRA)||36,570.38|
|Gross with HRA||38,703.38|
What is the In-Hand Salary for IBPS PO?
- The In Hand Salary for a Probationary Officer ranges from Rs 37,360 to 38,700 at the time of joining.
- Employees are eligible for an annual increment of Rs 980 for a period of 7 years.
IBPS PO Allowances
There are many perks and allowances for an IBPS PO. Apart from the basic pay, bank officers are eligible for the below given allowances:
1. Dearness Allowance (DA) – It is a cost of living adjustment allowance paid to all government employees and probationary officers working in Public Sector Banks. It is revised on a quarterly basis based on the Consumer Price Index (CPI). It dependent on the rate of inflation. The DA can increase with increasing inflation and comes down when there is a drop in inflation.
2. HRA – The House Rent Allowance depends on the place of posting of a Probationary Officer. It can vary from 7% to 9% depending upon the cost of living in the city. HRA is higher in Metro cities and Tier 1 & Tier 2 cities.
3. Special Allowance – As per the latest revision in IBPS Salary Structure, the Special Allowance can be added to the PO’s salary. The Special Allowance is 7.75% on the basic pay.
4. City Compensatory Allowance – This also depends on the place of posting of the PO. It can either be 3%, 4% or 0% of the basic pay.
IBPS PO 2019 – Job Profile of a Probationary Officer
1. After joining as a Probationary Officer (PO), one goes through a definite period of training (2-3 weeks of training) at Training Academies of the Bank. The period of training differs from Bank to Bank.
2. The selected IBPS PO Candidate is appointed as an Assistant Manager and holds that designation throughout his/her probation period.
3. After the training gets over, the candidate is posted to a Bank Branch depending on the Bank and has to go through probation period of of 2 years, during which the candidate is exposed to the different aspects of Banking.
4. During the Probation Period, the candidate is exposed to different practical aspects of Banking such as Marketing, Finance, General Banking, Investment, Cash Management, Deposits, Billing, Loan Processing, Front desk, Issuing of Demand Drafts, Cheques, etc. and various other banking activities to help them get familiar with the working of the banks.
After the probation period, the PO is confirmed as Assistant Manager and has the following responsibilities.
1. Manage the job at the Front Desk
This includes guiding the incoming customers, handling their complaints, introducing them to the products offered by the Bank and issuing DDs, Cheques, ATM Cards, etc.
2. Bring in New Business to the Bank
The duties of a PO include bringing in new business to the bank and marketing the new schemes.
3. Supervise Work
His duties also include supervising the work of Bank Clerks like Cash Management, Account opening and dealing with customers. PO’s are also responsible for authorizing and checking cash transactions and proofreading the entries done by Clerks.
4. Handle various Departments & Coordinate work among Department
Probationary Officers are required to have working knowledge of various Bank Departments such as Marketing, Finance, Loans and advancing and Accounting.
5. Processing of Loans
Probationary Officers are responsible for supervising the process of loan transactions such as providing and documenting loans.
IBPS PO Promotional Aspects or Career Growth Aspects
Chairman & Managing Director (CMD)
Executive Director (ED)
Top Management Grade – Scale 7 – General Manager
Top Management Grade – Scale 6 – Deputy General Manager
Senior Management Grade – Scale 5 – Assistant General Manager
Senior Management Grade – Scale 4 – Chief Manager
Middle Management Grade – Scale 3 – Senior Manager
Middle Management Grade – Scale 2 – Manager
Junior Management Grade – Scale 1 – Probationary Officer (PO)
This was all from us in this blog of “IBPS PO Salary, Job Profile & Promotional Aspects”. We hope that you would like the information provided in this blog of “IBPS PO Salary” and enjoyed reading it. Stay tuned to Oliveboard for more.
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