IBPS PO Salary

The IBPS PO salary is one of the main driving force for candidates appearing for the post. The bank PO job has always been the choicest career option in India. The Bank 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 salary for the IBPS PO post is Rs 23700/-. Apart from this, there are other allowances for medical expenses, house rent, travel, etc. There are several increments which are added to the IBPS PO salary as an employee continues to work in the bank.

Does the IBPS PO Salary influence you to enter the banking sector??

Prepare for the Probationary Officers exam with the Free Online IBPS PO Mock Test Series.

Also, refer to the links given below and ace the IBPS PO 2020 exam:

Candidates can know more about other IBPS exams at the linked article.

This article is aimed at providing details on the salary structure of the IBPS PO and other aspects like career growth and responsibilities.

Given below are a few other salary articles for the various posts under the banking sector:

IBPS PO Salary in India after the Bipartite Settlement

Wage revision in public sector banks takes place every five years. The 11th bipartite settlement is due from November 1, 2017.

Bank PO salaries revision takes place on the basis of bipartite settlement. As for the IBPS PO salary 2020, the salary shall be decided based on the 11th Bipartite settlement.

The IBPS PO salary based on the 2020 notification is as mentioned-below:

IBPS PO Salary structure in India
IBPS PO Salary in India- Basic Pay Rs 23700/- ( Increment in 4 stages-

Salary after 1st Increment- Rs. 30560/-

Salary after 2nd Increment-Rs. 32850/-

Salary after 3rd Increment- Rs. 42020/-

Dearness Allowance 40% of the basic pay(Varies based on inflation rates)
City Compensatory Allowance(CCA) 3% or 4%(depending on the place of posting)
House Rent Allowances 7%-9% of the basic pay
Special Allowance 7.75% of the basic pay

For details on other bank salary range, refer to the linked article.

Apart from these allowances, there are other perks tagged along with the IBPS PO Salary in India.

They are:

  1. Travel Allowances – There is an option of full travelling allowance or reimbursement of the money spent on petrol/diesel.
  2. Leased Accommodation – Banks mostly provide their employees either a banks quarter to stay in or gives an option to lease a house for which bank is accountable for providing the rent.
  3. Medical Reimbursement – Mostly pay a fixed amount to its employees for medical treatment
  4. Pension Scheme
  5. Miscellaneous

Before getting into the details of IBPS PO Salary in India, the aspirants should know the various participating banks.

Bank Exams 2020

The participating banks for the IBPS PO posts are given below:

  • Allahabad Bank
  • Canara Bank
  • Indian Overseas Bank
  • Syndicate Bank
  • Andhra Bank
  • Central Bank of India
  • Oriental Bank of Commerce
  • UCO Bank
  • Bank of Baroda
  • Corporation Bank
  • Punjab National Bank
  • Union Bank of India
  • Bank of India
  • Indian Bank
  • Punjab & Sind Bank
  • United Bank of India
  • Bank of Maharashtra

Candidates in anticipation of IBPS exam calendar 2020 can check the IBPS exam dates at the linked article.

Related Links:

IBPS PO Career Growth

The fruitful career options that follow after owning the post of IBPS PO is given below:

  1. Middle Manager – Middle Management Grade Scale 2
  2. Senior Manager – Middle Management Grade Scale 3
  3. Chief Manager – Senior Management Grade Scale 4
  4. Assistant General Manager – Senior Management Grade Scale 5
  5. Deputy General Manager – Top Management Grade Scale 6
  6. General Manager – Top Management Grade Scale 7
  7. Executive Director
  8. Chairman and Managing Director

Government Exam 2020

IBPS PO Responsibilities

Getting the designation of IBPS PO is very lucrative. However, there are many job responsibilities that have to be taken care of.

The various responsibilities of IBPS PO are given below:

  1. The major task is to get involved in all the banking activities.
  2. They have to take authority at times of various departments like Finance, Accounts, Marketing, Loans, etc.
  3. Verifying documents and processing loans are also a major part of their operations.

There are other government exams which also have great designation, career, and salary.

Aspirants applying for the post of IAS officer can check the IAS salary at the linked article.

Other Related Links:

Frequently Asked Questions for IBPS PO Salary

Q 1. What is the basic pay of a Probationary Officer in the IBPS?

Ans. The basic pay of an employee joining any IBPS bank as a Probationary Officer is Rs.23,700. This gradually increases with the multiple increments over a period of time.

Q 2. Is the IBPS salary more than the salary for an Officer in RBI?

Ans. The IBPS PO salary is slightly less than the salary paid to a Grade B Officer in RBI. The overall perks and allowances are also almost the same for IBPS and RBI.

Q 3. What is the selection process for IBPS PO exam ?

Ans. The IBPS PO selection process includes three stages:

    • IBPS Prelims Exam
    • IBPS Mains Exam
    • Interview

Only when a candidate qualifies all the three stages of examination, he/she is appointed as a Probationary Officer.

Q 4. Is the IBPS PO exam tough?

Ans. The IBPS PO exam is equivalent to any other Officer scale exam in the banking sector. The syllabus is exhaustive and candidates need to have a clear idea about every topic in detail to qualify the examination.

Q 5. Is the IBPS Clerk salary less than the IBPS PO salary?

Ans. The starting basic pay of a Clerk in IBPS is Rs.11765 which is a lot less than the IBPS PO salary. Candidates can check the detailed IBPS Clerk salary structure at the linked article.