The Bank Probationary Officer (PO) post is a lucrative one in the hierarchy of bank jobs and thus many aspiring candidates who are looking to join the banking sector eye for this post. Most of the starting salaries of public sector banks and that of some private sector banks for Probationary Officer post are almost same. Recently there has been a hike in the salary of the bank PO as well as other staff members in banks which have become active from the month of May this year. The new recruits in the post are being paid according to the new salary structure. Most of the banks have same starting salary structure for the probationary officers, but banks like SBI, ICICI and other reputed private sector banks allow more salary to its probationary officer.
10th Bipartite Settlement:
The 10th bipartite wage settlement for bank employees was signed by United Forum of Bank Unions (UFBU) and Indian Banks Association (IBA) in May 2015. It gives 15% hike in salaries of bank employees. The settlement covers 25 public sector banks, 11 private banks and seven foreign banks. The wage revision is with effect from November 1, 2012 and is valid for five years.
Other Pay Perks in the Bank PO salary:
Along with the Basic pay the Probationary Officers in banking sector are eligible of getting these benefits:
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