IBPS PO Salary After 5 Years: Lakhs of aspirants get attracted 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 the 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.
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|
IBPS PO Salary after 5 years
If you are a Scale-1 officer, the IBPS PO Salary after 5 years as per the current figures will increase up to Rs. 47, 587.81 as there are annual increments of Rs. 980 every year in Basic Salary. Plus, you will receive additional allowances up to Rs. 10,000 /- to Rs. 15, 000/- Hence the IBPS PO salary after 5 years will be around ₹ 60,000/- to ₹ 65,000/-.
IBPS PO Promotion
An IBPS PO sees good career growth. The promotion policy of the banks is based on the uniform guidelines issued by the Ministry of Finance, Government of India.
As the career of the probationary officer grows the scale and salary of the person too increases.
|MMGS II (Middle Management Grade Scale-II)||₹ 31,705 to ₹ 45,950|
|MMGS II (Middle Management Grade Scale III)||₹ 42,020 to ₹ 51,490|
|SMGS IV (Senior Management Grade Scale IV)||₹ 50,030 to ₹ 59,170|
|SMGS V (Senior Management Grade Scale V)||₹ 59,170 to ₹ 66,070|
IBPS PO Career Growth
|Scale 1||Assistant Manager|
|Scale 3||Senior Manager|
|Scale 4||Chief Manager|
|Scale 5||Assistant General Manager|
|Scale 6||Deputy General Manager|
|Scale 7||General Manager|
The above-mentioned details would have equipped you with all the important information regarding the increase in the salary. And now, it will help you in making a well-informed career decision.