What is IBPS PO Salary? It is an eager question among all of the banking contenders who are getting ready for IBPS PO exam. There is an incredible news for all of the aspirants that the department is going to increase IBPS po salary from this year onwards.
Information such as IBPS PO salary, allowance, grade post, probation period, salary after 10th bipartite wage revision and the 7th pay commission are available in the IBPS PO 2018 notification.
IBPS PO Salary Structure details
Probationary Officer (PO) is a base level post of an officer in a bank. So since it is a probation period the candidate will be kept in probation for 1 to 2 years of probation period which is also called a training period. In thatperiod , the candidate can learn the essential duties of IBPS PO.
The IBPS PO salary will differ from bank to bank and the area the candidate is deployed.
IBPS Bank PO Salary and Allowances
There are other benefits payable on monthly stream apart from monthly salary.The additional benefits of Probationary Officers / PO / Management Trainee are eligible for the following allowances
- Dearness Allowance (DA) – It is an amount of living allowance paid to all the government and public sector Probationary officers. It will be revised on every quarterly basis and based on Consumer Price Index (CPI). Depends on inflation DA is calculated. DA can go hike with higher inflation and also downs with lower inflation rate in a negative concordant.
- HRA – This specifically depends on the posting place and it can be either 9.0% or 8.0% or 7.0%.
- CCA – This also purely depends on the place of posting and it can be either 4% (maximum Rs.870/-) or 3%(Maximum Rs.600/-) or 0%
- Conveyance allowance – This is paid for purely commute
- Newspaper Reimbursement:An adoc monthly amount is given towards the rate of one newspaper to the Probationary Officer.
- Medical Aid:A fixed yearly amount is paid by the banks (Revised amount is Rs8000/- p.a.).
In many banks, a person who has been appointed as an IBPS PO could reach to the cadre of General Manager in 14 years. After that one can establish himself for the position of executive director or chairman of a bank. These are very dignified
Cadres which is decided by the Government and not by the individual banks.
IBPS PO Promotion & Career Progression:
Junior Management Grade – Scale I: Officer i.e. PO
Middle Management Grade – Scale II: Manager
Middle Management Grade – Scale III: Senior Manager
Senior Management Grade – Scale IV: Chief Manager
Senior Management Grade Scale V: Assistant General Manager
Top Management Grade Scale VI: Deputy General Manager
Top Management Grade Scale VII: General Manager
Executive Director (ED)
Chairman and Managing Director (CMD)
If you’re preparing for IBPS PO, please do not forget to check out the current syllabus of IBPS PO, Exam pattern, and other necessary details to score well in the examination. There are many offline and online study material available as per the current scenario. So do not miss out the golden opportunity, study well, do your exams confidently, follow time management and walk towards your dream.
All the best and good luck.