IBPS PO Salary 2022: Various Banks across the country Provide lucrative salary to the Probationary officers. IBPS conducts IBPS PO exam every year in order to fill the posts of PO across various public sector banks in India. The competition is quite fierce in the IBPS PO exam. Before getting into the preparation of the IBPS PO exam, candidates must be curious about the pay and perks that are provided to the IBPS PO. So, in this article, we will discuss about the IBPS PO salary, perks, in-hand salary allowances and Job profile. Without any delay let's get started. This blog is updated according to the latest salary for IBPS PO 2022.
IBPS PO Salary 2022
Knowing the salary is the first thing that any banking aspirant can do. Because it is necessary to know about the pay and perks of the career that one is intending to join. So, here we have provided the salary of IBPS PO as per the 11th Bipartite Agreement:
|Basic Pay||Rs. 36,000|
|Special Allowance||Rs. 5,904|
|Dearness Allowance||Rs. 8,593.20|
|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.
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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
|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|
House Rent Allowances: Depending on where the PO is posted, HRA can range from 9.0%, 8.0%, or 7.0% of the basic salary (i.e., metros, big cities, or other locations).
Dearness Allowance (DA): DA is granted to employees as a percentage of their basic salary (as of November 2017, it has been revised from 39.8% to 23.87% according to ACI data published by the Ministry of Statistics and Program Implementation.
Special Allowance (SA): Banks have included this allowance in their last wage revision. It amounts to about 7.75% of the basic salary. November 2017 marked the beginning of its implementation.
City Compensatory Allowance (CCA): It might be 0%, 3%, or 4%, depending on the type of city.
IBPS PO Career Growth in 2022
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
- 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 2022
Probationary Officer in the banking sector is the reputation and most desired job profile among the 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 holds that designation throughout his/her probation period. The candidate will be trained in Training Academies of the bank. This training period differs from bank to bank.
Post-training: After the training, the candidate is posted to some other branch, depending on the bank and has to go through probation of 2 years, during which the candidate is exposed to the different aspects of Bank.
Probation period: During the probation period, the candidate is exposed to different practical aspects of banks such as Marketing, Finance, General Banking, Investment, Cash Management, Deposits, Billing, Loan processing, Front desk, issuing of DDs, 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:
Manage the front desk: This includes guiding the customers, handling their complaints, introducing them to the products available and issuing DDs, cheques, ATM Cards, etc.
Bring new business: Duties include bringing new business to the bank and marketing the new schemes.
Supervise work: Duties 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.
Handle various departments: PO's are required to have working knowledge in various bank departments such as Marketing, Finance, Loans and advancing and Accounting.
Process the loans: PO's are responsible for supervising the process of loan transactions such as providing and documenting loans.
Participating Banks in IBPS PO exam 2022
Here is the list of banks participating in the IBPS PO recruitment 2022. A total of 11 banks are participating in the recruitment.
|S. No||Participating Banks|
|1||Bank of Baroda|
|2||Bank of India|
|3||Bank of Maharashtra|
|5||Central Bank of India|
|7||Indian Overseas Bank|
|8||Punjab National Bank|
|9||Punjab & Sind Bank|
|11||Union Bank of India|
IBPS PO Salary 2022 Frequently asked questions:
- Which Bank PO has the highest salary?
Answer: SBI provides the highest salary amongst all the banks for its probationary officers.
- What is starting salary of IBPS PO?
Answer: The starting salary of IBPS PO in mentioned above in the blog. It will be around 24000/
- What is the probation period of Bank PO?
Answer: The probation period of IBPS PO is 2 years.