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IBPS PO Salary 2020: In-hand Salary, Job Profile, Promotion, Perks & Pay Scale after 7th Pay Commission

IBPS PO Salary 2020: IBPS Probationary Officers (POs) are entitled to get basic pay of Rs 23,700 after 7th Pay Commission alon with allowances such as DA, HRA and others. Check IBPS PO In-hand Salary Slip, Job Profile, Perks and Promotion Policy. 

Aug 17, 2020 09:56 IST
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IBPS PO Salary 2020
IBPS PO Salary 2020

IBPS PO Salary after 7th Pay Commission, Revised Vacancies & Job Profile: IBPS invites online applications from eligible candidates for IBPS PO Recruitment 2020 for the posts of Probationary Officers and Management Trainees in various public sector banks. IBPS has also revised vacancies for the IBPS PO 2020 to 1417 Vacancy. Here in this article, we have shared the information related to the IBPS PO 2020 jobs including the in-hand salary after 7th Pay Commission, pay scale, job profile, nature of work, promotion policy and perks enjoyed by POs in banks.

IBPS PO is one of the most desired jobs by the aspirants. Every year, around lakhs of candidates look forward to IBPS PO Vacancy announcements. This year, IBPS has announced a total of 1417 vacancies of PO/MT in the banks. The post not only offers a bank jobs of good reputation but also a handsome salary. Have a look at the pay scale of probationary officers below along with the revised vacancies and participating banks:

IBPS PO Revised Vacancy 2020

Participating Bank

Vacancy

Bank of Baroda

0

Bank of India

734

Bank of Maharashtra

250

Canara Bank

-

Central Bank of India

0

Indian Bank

-

Indian Overseas Bank

0

Punjab National Bank

-

Punjab & Sind Bank

83

UCO Bank

350

Total

1417

IBPS PO Salary & Pay Scale

The IBPS PO Salary Structure is consist of different components including basic pay, increments, allowances and perks. Have a look at the in-hand salary, pay scale and allowances of IBPS POs below:

IBPS PO Pay Scale - Rs 23700-980/7-30560-1145/2-32850-1310/7-42020

IBPS PO Basic Pay - Rs 23,700 with Rs 980 Increment for 7 Years

IBPS PO Basic Pay after 7 Years - Rs 30560 with Rs 1145 Increment for 2 Years

Maximum Basic Salary after 7+2+7 Years increments - Rs 42 ,020

IBPS PO In-hand Salary as per 10th Bipartite Settlement

IBPS PO Salary Structure

Basic Pay

Rs 23,700

Special Allowance (SA)

Rs 1836.75

Dearness Allowance (DA)

Rs 10163.63

CCA

Rs 870

HRA

Rs 2133.00

Gross In-hand Salary with HRA

Rs 38,703.38

IBPS PO Allowances & Perks

Bank POs are eligible to enjoy a few allowances and perks including HRA, DA:

House Rent Allowance (HRA): 7% to 9% of Basic pay

Dearness Allowance (DA): 39.8% of Basic Pay

City Compensatory Allowance (CCA): 3% or 4%

Special Allowance (SA): 7.75% of Basic pay

Note: The percentage of these allowances may vary on the basis of place of posting.

IBPS PO Promotion Policy 2020

The post of IBPS Bank PO is as that of Junior Management Grade Scale I (JMGS I) officers in the banks. The post offers a good career growth in terms of position as well as salary. The scale of basic salary of IBPS PO ranges from Rs 23700 to Rs 42020. On their promotion, the IBPS PO tends to comes under Middle Management Grade Scale II or III (MMGS) or Senior Management Grade Scale IV or V (SMGS).

Candidates appointed as IBPS POs have chances to go up to the post of Chairman and Managing Director in a bank. Here is the career growth for IBPS PO:

  • Middle Manager under Middle Management Grade Scale 2
  • Senior Manager under Middle Management Grade Scale 3
  • Chief Manager under Senior Management Grade Scale 4
  • Assistant General Manager under Senior Management Grade Scale 5
  • Deputy General Manager under Top Management Grade Scale 6
  • General Manager under Top Management Grade Scale 7
  • Executive Director
  • Chairman and Managing Director

IBPS PO Job Profile: Role & Responsibility

Let's look at the roles and responsibilities of a probationary officer in a public sector bank below:

Oversee all the banking activities

Manage departments such as Accounts, Finance, Marketing, Loans, etc.

Processing of loans

FAQ

What are perks and allowances enjoyed by IBPS PO/MTs?

IBPS POs are entitled to several perks and allowances such as DA, House Rent Allowance, medical coverage, newspaper allowance, Travel Allowances, and others.

What is Basic Pay of IBPS POs in Banks?

The basic pay of Probationary Officer (PO) in banks is Rs 23,700.

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