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.
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.
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. So, for IBPS PO 2019, salary will be decided on the basis of the 11th Bipartite Agreement.
The IBPS PO salary based on the 2019 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.
- Travel Allowances – There is an option of full travelling allowance or reimbursement of the money spent on petrol/diesel.
- 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.
- Medical Reimbursement – Mostly pay a fixed amount to its employees for medical treatment
- Pension Scheme
Before getting into the details of IBPS PO Salary in India, the aspirants should know the various participating banks. For more information regarding the IBPS PO exam, candidates can visit the linked article.
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.
IBPS PO Career Growth
The fruitful career options that follow after owning the post of IBPS PO is given below:
- Middle Manager – Middle Management Grade Scale 2
- Senior Manager – Middle Management Grade Scale 3
- Chief Manager – Senior Management Grade Scale 4
- Assistant General Manager – Senior Management Grade Scale 5
- Deputy General Manager – Top Management Grade Scale 6
- General Manager – Top Management Grade Scale 7
- Executive Director
- Chairman and Managing Director
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:
- The major task is to get involved in all the banking activities.
- They have to take authority at times of various departments like Finance, Accounts, Marketing, Loans, etc.
- 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.