IBPS PO exam is held in India for the posts of Probationary Officer (PO) in the public sector banks and accordingly provides a great compensation package for the Probationary Officers (PO). In this section, we will look at the IBPS PO salary structure, in-hand salary, benefits and allowances applicable to the IBPS PO.
IBPS PO Salary 2022
The salary of IBPS PO as per the 11th Bipartite Agreement is as follows:
| 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)
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 deduction of professional tax and NPS, the net in-hand salary remains around Rs. 52,000 to 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 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 Career Growth
The career growth offered to Probationary Officer 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
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