IBPS PO Salary 2024: Check Revised Pay Scale, Salary Structure, Perks and Allowances

IBPS PO Salary 2024: The Institute of Banking Personnel Selection (IBPS) offers an attractive salary for the selected candidates as probationary officers (PO). This salary structure attracts aspirants seeking financial security and career growth. The monthly salary of the IBPS PO post is expected to range between Rs 50,000 and Rs 60,000 per month, including allowances, benefits, and deductions. Candidates must know the IBPS PO job profile and salary to understand whether the responsibilities will align with their career goals. Read on for complete details on the IBPS PO Salary, annual package, in-hand pay, job profile, allowances, etc. 

IBPS PO Salary 2024

As per the reports, the salary of the candidates selected for PO positions will be in the range of Rs 50000-Rs 60000. The main responsibility of the IBPS POs post is to ensure the smooth functioning of all branch operations and ensure all the regulations and deadlines are followed. Below, we have bifurcated the pay received by bank POs.

Note: This is the supposed number based on reports; the actual number may vary

IBPS PO In Hand Salary 2024

For all eligible candidates, the IBPS PO job offers a competitive compensation package that culminates in a good in-hand salary. The amount that remains after all relevant deductions, such as income tax, Provident Fund (PF), etc., have been deducted from basic pay and allowances is known as the in-hand salary. The monthly in-hand remuneration for an IBPS PO might vary from around Rs. 50,000 to Rs. 60,000. The precise amount varies depending on where you are posted and the particular allowances that the banks offer.

Attempt IBPS PO Mock Test based on latest exam pattern

IBPS PO Salary Slip

Employees receive their IBPS PO salary slips at the end of each month. It acts as a formal record of your income. The pay cheque slip includes details on base pay, any deductions, and allowances such as the House Rent Allowance (HRA) and Dearness Allowance (DA). When applying for loans or for other purposes, this document is valued as important evidence of employment.

IBPS PO Salary After Bipartite Settlement

Government has reviesed the salary of all employees effective from Novemnber 2017 under the 11th bipartite settlement. Approximately, 9 lakh employees were benefitted with the approval of the 11th bipartite settlement. The employees are so eligible to get the timely increment as the pay of the IBPS PO officer. 

What is IBPS PO Salary After 5 Year?

The IBPS PO Salary for the first year will be around Rs. 52000, based on the latest statistics. An increase in the base salary of Rs 900 to Rs 1000 per year would be accompanied by additional perks between Rs 10,000 and Rs 15,000 in value. As a result, after five years, the gross IBPS PO salary would be somewhere between Rs. 65,000 and Rs. 70,000.

IBPS PO Perks and Allowances

The banks provide various bonuses, allowances, and benefits in addition to the basic IBPS PO salary, depending on the position, pay range, and other qualifications of the qualified applicants. The benefits and allowances included in the wage package for IBPS PO employees are shown below.

• Dearness Allowance (46.5% of the basic pay)
• House Rent Allowance (5%-10% of basic pay)
• Special Allowances (7.75% of the basic pay)
• City Compensatory allowance
• Travel Allowances
• Medical Reimbursement
• Leased Accommodation
• Newspaper Allowance
• Overtime Allowance

IBPS PO Job Profile

For all eligible applicants, the IBPS PO offers them numerous prospects for growth and promotion. This position provides a strong basis for a career advancement. For your information, the IBPS PO Job Profile has the following set of responsibilities.

• To ensure the smooth functioning of the bank and make sure all the rules & regulations are followed.
• To address customers' inquiries, handle transactions, and potentially even manage teller duties.
• To prepare accurate financial reports and audits, ensuring transparency and accountability.
• To evaluate loan applications, specifically those focused on agriculture, ensure credit is given to the right hands for development.

IBPS PO Career Growth & Promotion

In addition to a substantial pay package, the IBPS PO job offers a potential career path with a clear progression structure. However, based on their seniority, work output, and experience, candidates will be eligible for promotions. Promotions to more senior positions, such assistant manager, deputy manager, and so on, are part of the PO career path. The IBPS PO's promotion hierarchy looks like this.

• Probationary Officer
• Assistant Manager
• Deputy Manager
• Branch Manager
• Senior Branch Manager
• Chief Manager
• Assistant General Manager
• Deputy General Manager
• General Manager

IBPS PO Posting Urban Vs Rural

The selected candidates for IBPS PO can be posted anywhere in India,, be it rural area or urban area. The candidates posted in rural areas will receive fewer allowances as comparison to the urban area. 

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IBPS PO Promotion Policy

The public sector bank follows the policy as per the guidelines of the Ministry of Finance, This can include posts such as Junior Management Grade Scale I until Senior Manager Grade Scale V. Check the list of posts below

• Junior Management Grade Scale I (JMGS I)
• Middle Management Grade Scale II (MMGS II)
• Middle Management Grade Scale III (MMGS III)
• SMGS IV (Senior Management Grade Scale IV)
• SMGS V (Senior Management Grade Scale V)

The IBPS PO role attracts many candidates due to its lucrative career package and competitive compensation. It also offers other advantages. The work offers financial security and development, with an in-hand income ranging from Rs 50,000 to Rs 60,000 per month. The extensive compensation system includes special allowances, DA, HRA, base pay, and more.

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