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Is SBI PO a Good Job? (Work Life Balance & Salary Explained)

SBI PO Work Life Balance

SBI PO is one of the most respected jobs in the country’s banking sector. Every year, millions of aspirants aim to become Probationary Officers (POs) at the country’s largest public-sector bank (PSB) but becoming an SBI PO is not easy and only a few succeed in making it to the elite commercial banking company.  After all, SBI PO Salary and Perks are the best in the industry along with the fact that SBI PO provides ample opportunities for the POs to train their skills and knowledge to be updated with the industry’s trends. In this blog, we will answer certain questions that may arise in your mind like, how is SBI PO Work Life Balance? What other benefits do they provide? and more.

SBI PO Highlights

  • Aspirants have to undergo 3 levels of exams to be finally selected for the SBI PO bank position. 1st is prelims, followed by mains round and interview round.
  • Candidates who are selected for the SBI PO position are appointed to different branches of banks and are put to training for the next 2 years which is also termed as probation period.
  • During the training, they have to undergo certain tests and exams to qualify for the position. SBI reserves the right to increase the probation period if the candidates do not meet the desired level.
  • Transfers in the training period is also a possibility.
  • The Candidates clearing the probation period are then appointed as the ‘Assistant Bank Manager’.

If you are also preparing for SBI PO 2020, now will be the right time to start with it.

SBI PO Job Profile

Candidates after selection when placed as a PO in the bank have to handle different line of business and responsibilities. Summary of each business segment is mentioned below:

Customers Services

Service delivery to customers includes the day to day banking operations like opening new accounts, security custodian of debit (ATM) cards, making FDs, DD PO, Loan processing, etc.

Marketing & Business Lead Generation

As POs you will be the direct channel of the bank interacting with customers on a daily basis. You will be responsible for promoting banking products like Recurring Deposits (RD), Fixed Deposits (FD), Insurance policies, Mutual Funds, Credit Cards, Loans, etc.

Report Filling

You would be assigned to generate reports of the daily operational transactions like deposits, withdrawals, ledger balances, etc.

Handling Daily Operations

SBI follows the maker & checker system where the PO is responsible for verification of all the transactions processed by bank clerks. In cash, clearing and operations transactions, the clerk is the maker and PO is the checker and the responsibility of losses lies with the checker.

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What is SBI PO Salary? – Know Remuneration, Benefits & Perks Here

The basic salary of an SBI PO is INR 27,620/- with an advance 4 increments given to graduates. It further includes benefits like Dearness Allowance, Medical Benefits, Leave Travel Concession, PF, House Rent allowance, furniture allowance, etc.

  • As per the notification released by the SBI in 2019, below is the salary details for a PO joining SBI.
  • Here is the salary pay-scale for the SBI PO Officers. the starting basic pay is Rs. 27,620/- (with 4 advance increments) in the scale of Rs. 23700-980/7-30560-1145/2-32850-1310/7-42020 applicable to Junior Management Grade Scale-I.
  • The pay-scale distribution is as follows. After the joining, you will get 27,620/- as a basic pay which is given after the initial 4 increments on the basic pay of 23700/-. For the next 7 years, there is an increase of 980/- INR on your basic pay.
  • This is followed by an increment of 1154/- INR when your basic pay reaches 30560/- after 7 years and then 1310/- INR increment on the basic pay of 32850/- for next 7 years.
  • The Salary provided by SBI is the best in the industry for any Probationary Officer job.

SBI PO Benefits

Few benefits are mentioned below which you will get as an SBI PO.

  1. Contribution Pension Scheme/New Pension Scheme
  2. Medical Aid for self (100%) and for family (75%)
  3. LTC
  4. Home Travel Concession/ Leave Fare Concession
  5. Concessional interest rates for Housing/Car/Personal Loans

SBI PO Perks & Allowances

Perks are variable as per the city of posting. You can be posted as a PO in either of Tier-1, Tier-2 or Tier-3 city.

Basic Pay

INR 27,620

Pay Scales Applicable

23,700 – 980/7 – 30,560 – 1,145/2 – 32,850 – 1,310/7 – 42,020

Dearness Allowance

 46.9% of Basic Pay

City Compensatory Allowance

3% – 4% depending on City

House Rent Allowance

7% – 9% depending on City/Place of Posting

Furniture Allowance

INR 1,20,000

Medical Insurance

100% covered for employee; 75% covered for family members

Travelling Allowance

AC 2-tier fare is reimbursed to the employee for official travels

Petrol Allowance

INR 1,100 – 1,250

Newspaper Allowance, Entertainment Allowance, Books Allowance, etc.

Varies based on Cadre

Gross Compensation

8.20 Lakhs (minimum) to Rs. 13.08 lakhs (maximum) per annum.

SBI PO in hand Salary 2019 – After all the deduction, the take-home salary generally ranges from 42,000 to 44,000.

SBI PO Work Life Balance

One of the most common questions regarding any job that aspirants or applicants may have is about the work-life balance of the job. SBI PO work life balance is, therefore, a common aspect that many aspirants wonder about.

Since SBI PO is a prestigious post in the nation’s leading PSB, it might occur to aspirants that SBI PO is a comfortable job with a comfortable working job profile and assured job security as it is a government job.

However, SBI PO also demands a lot from the candidate and hence to clear the query, we have come up with the blog article titled “SBI PO Work Life Balance”.

So, when talking about the SBI PO Work Life Balance, here are some points to consider:

  1.  An SBI PO is essentially trained to become a manager for an entire branch of SBI and hence they are the one person handling all the responsibilities to essentially keep the branch operating smoothly.
  2. Though being an SBI PO is already an intellectually demanding task given the complex nature of work they do, the work increases drastically during 2 times in the year – one is when a quarter ends and the other being the end of the financial year. During those times, the concept of SBI PO Work Life Balance does not exist as there is only more and more work to be done.
  3. SBI PO Work Life Balance is also affected by another factor: training and examinations. All selected SBI PO candidates are required to complete various e-lessons and online learning programs as well as study for certifications such as JAIIB (Junior Associate of Indian Institute of Banking and Finance) and CAIIB (Certified Associate of Indian Institute of Banking and Finance).
  4. Due to the arduous task of crunching numbers for several hours on the end, an SBI PO may feel tired and drained by the time they are done with their everyday work. It depends on the individual as to how they take the job, however. One SBI PO may find the job profile to be interesting because they may be capable of working for several hours without any loss in their concentration or motivation. However, the same might not be true for another SBI PO.
  5. Hence, the concept of SBI PO Work Life Balance differs from PO to PO. For the SBI PO who cannot work for hours without feeling tired and bored, there would consider the idea of SBI PO Work Life Balance to be a myth, but for someone who is an SBI PO and enjoys working long hours in a fast-paced, competitive environment, they will surely find SBI PO Work Profile to be satisfying for their professional and career development.

So, In Answer to your question, Is SBI PO a good job? It is fairly sure that the perks, benefits, allowances and facilities provided are the best in industry by SBI. Candidates working for SBI as a PO are substantially happy and ever-growing with unlimited growth opportunities. So, it definitely is a good job. All it requires is your hard work and effort and you will be able to crack the exam.

Hence, if you are looking for a challenging work profile that not only deals with hardcore banking but also offers some of the best perks and benefits in the industry, the SBI PO should be your go-to option!

All the Best!

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