IBPS PO Salary: Revised Pay Scale, Structure, Perks and Allowances

Every year, the Institute of Banking Personnel Selection (IBPS) is responsible for conducting the annual examinations for the post of Probationary Bank in various participating Public Sector Banks (PSBs) which includes reputable banks like PNB, Canara Bank, BOI, Union Bank, Punjab and Sind Bank, BOB, etc.

So, as a Bank job aspirant, you must know about the salary of IBPS PO in these participating banks after appointment. The starting IBPS PO in Hand Salary falls between the range of Rs. 52,000-55,000/- per month. For more details, you can refer to the information discussed below along with the IBPS PO Salary slip.

IBPS PO Salary 2024

The IBPS mentions the IBPS PO Starting salary, Pay Scale, Pay Matrix Level, In Hand salary, etc in the official notification for the Exam. As per official data, an IBPS PO gets a handsome salary along with a dozen perks and benefits which in turn tempts the government job aspirants to apply for this job. The IBPS PO Salary 2024 is one of the main driving forces for candidates appearing for the post. The IBPS PO salary is one of the major reasons for candidates to get into the banking domain apart from security, lucrative perks, and allowances.

The basic pay for IBPS Probationary Officers (PO) in 2024 is Rs. 36,000, with a gross salary of Rs. 58,271.55 and a net salary of Rs. 53,519.07 after deductions. Check all the details about IBPS PO Salary, Job Profile, Career Growth, and Promotion Policy of  IBPS PO.

IBPS PO Salary Structure 2024

The IBPS Probationary Officer’s salary includes a basic pay of Rs. 36,000, special allowances of Rs. 5,904, dearness allowances of Rs. 9424, city compensatory allowances of Rs. 1,400, house rent allowance of Rs. 3,240, learning allowance of Rs. 600, and other allowances of Rs 1702.75. After deductions of Rs. 4,752.48 as Union Subscription and Membership charges, the net salary is Rs. 52,519.07/-

IBPS PO Salary in Hand 2024

The IBPS PO Salary in hand is calculated after adding all the allowances and subtracting deductions. After all these formalities, the IBPS PO Salary per month becomes Rs. 52,519.07/- which is a net amount. This includes allowances as mentioned above. If you want to know what percentage of HRA, DA, SA and CCA is added to the basic salary of Rs. 36,000/- then go through the table below.

IBPS PO Salary Slip

Candidates searching for the IBPS PO Salary Slip can check the salary slip below. Here we have shown the salary slip of an employee for the IBPS PO Post having the details distribution of salary.

IBPS PO Perks And Allowances 2024

As said earlier, it is not just the salary that is the tempting force, but it is also the Perks and Allowances that one receives as an IBPS PO. The following are the perks that are enjoyed by an IBPS PO:

1. Leased Accommodation – This benefit is dependent upon the place of posting and is available to the bank officers. Some banks provide official bank accommodation/bank quarters instead of leased housing.
2. Travelling Allowance – Most banks provide a fixed Traveling Allowance and reimbursement of petrol bills.
3. Medical Aid – Revised price is Rs 8000/- p.a. This is the amount for the medical needs of the employee.
4. Newspaper Reimbursement: A fixed monthly amount for newspaper service.
5. Coverage under the New Pension Scheme

IBPS PO Job Profile

IBPS PO is one of the reputed jobs in the banking sector and provides many lucrative offers to employees. The Probationary Officer is trained for multiple operations such as finance, accounting, billing, investment, revenue collection, etc. during his/ her probation period to acquaint them with the banking procedure.

1. Resolving customer queries at the branch
2. Maintaining and supervising regular branch activities
3. Public relations and addressing issues and grievances of customers
4. Directing daily transactions of customers and processing loan(s) detail
5. Bringing new businesses to the bank branch

IBPS PO Salary, IBPS PO Promotion

The public sector banks follow uniform guidelines issued by the Ministry of Finance, Government of India, regarding promotion policy matters. The stages of promotion for an IBPS PO are given below.

1. JMGS I (Junior Management Grade Scale I) or probationary officers
2. Middle Manager – Middle Management Grade Scale 2
3. Senior Manager – Middle Management Grade Scale 3
4. Chief Manager – Senior Management Grade Scale 4
5. Assistant General Manager – Senior Management Grade Scale 5
6. Deputy General Manager – Top Management Grade Scale 6
7. General Manager – Top Management Grade Scale 7
8. Executive Director
9. Chairman and Managing Director

Participating Bank For IBPS PO

Given below is a list of participating banks that are the leading Public Sector Banks of India that comes under surveillance of Reserve Bank of India. So, working with these banks is a great opportunity to enter to financial sector of India.

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