Millions of aspirants feel drawn to IBPS PO Exam, because of the salary package and benefits it offers. It is one of the major reasons why the candidates want to enter into the banking domain apart from security, allowances, and perks it offers. So, let’s check out all the details of the IBPS PO Salary!
Basic Salary-IBPS PO 2021
The basic salary IBPS PO is Rs 23700 per month. There are other allowances for medical expenses, house rent, travel, and more. Plus, there are several increments that an IBPS PO enjoys with the IBPS PO salary as he/she continues to work in the bank. This Salary structure is based on the 2020 notification released by IBPS.
In addition, every aspirant must also know which option suits him/her financial demands or whether he/she will be happy in fulfilling the responsibilities of the chosen posts happily and satisfactorily before choosing a post.
You might also like to read, 30-Day Study Plan-IBPS PO Prelims
IBPS PO Salary in India after the Bipartite Settlement
Bank PO salaries revision takes place on the basis of bipartite settlement. As for the IBPS PO salary 2021, the salary shall be decided based on the Bipartite settlement.
Given below is the IBPS PO Salary structure based on the 2020 notification released by IBPS:
| IBPS PO Salary in India- Basic Pay | Rs 23700/ Salary Increment in stages: *Salary of Rs. 30560/-after 1st Increment *Salary of Rs. 32850/-after 2nd Increment *Salary of Rs. 42020/-after 3rd Increment |
| Dearness Allowance | 40% of the basic pay (Differs on the basis of inflation rates) |
| City Compensatory Allowance (CCA) | 3% or 4% (depends on the place of posting) |
| House Rent Allowances | 7%-9% of the basic pay |
| Special Allowance | 7.75% of the basic pay |
Allowances-IBPS PO Salary
Apart from the allowances mentioned above, there are other perks that an IBPS PO enjoys along with the salary.
| Travel Allowances | PO’s can enjoy full traveling allowance or reimbursement of the money spent on fuel (petrol/diesel). |
| Leased Accommodation | Po’s get a bank quarter to stay in or have an option of getting a house on the lease (rent paid by the bank). |
| Medical Reimbursement | A fixed amount to employees for medical treatment. Most IBPS Banks give a medical aid of around 8000 p.a |
| Pension Scheme | – |
| Miscellaneous | – |
IBPS PO Career Growth
Given below is the journey of an IBPS PO from Middle Manager to Chairman/Managing Director:
- 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/Managing Director
IBPS PO-Role & Responsibilities
IBPS PO has to fulfill many job responsibilities that have to be taken care of. The major part of their operations involves taking care of the banking activities, keep an eye on various departments like Finance, Accounts, Marketing, Loans, etc. Plus, they have to Verify documents, and process loans.
FAQs (Frequently Asked Questions) IBPS PO Salary 2021
Q 1. What is the basic salary/pay of a Probationary Officer in the IBPS?
Ans. The basic pay or salary of an employee who joins any IBPS bank as a Probationary Officer is Rs.23,700. This salary gradually increases with the many increments in the years that follow.
Q 2. Is the IBPS Clerk salary less than the IBPS PO salary?
Ans. The starting basic salary or pay of an IBPS Clerk is Rs.11,765. It is evidently lower than that of IBPS PO’s salary. But both are important and respectable jobs.
Q 3. Is the IBPS salary more than the salary of an RBI Officer?
Ans. The IBPS PO salary is a little less than the salary of an RBI Grade B Officer. Although, both the posts offer almost the same perks and allowances.
Q 4. What is the selection process for the IBPS PO exam?
Ans. The IBPS PO selection process includes three stages, Prelims Exam, Mains Exam, and the interview. After clearing all the three stages of examination, a candidate is appointed as a Probationary Officer.
Q 5. Is the IBPS PO exam tough?
Ans. The difficulty level of the IBPS PO exam is equal to any other Officer scale exam. The syllabus is exhaustive and candidates need to prepare every topic properly in order to clear the exam. It is only the preparation that makes it hard or tough. It differs from person to person. Overall, it takes 3-4 hours of dedicated study every day for 3-4 months. But that too also differs from candidate to candidate.
IBPS PO Mock Tests and Online Test Series
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