Salary of any posts is a force that attracts the attention of candidates to take up jobs in the Banking sector, just like in other sectors. Similarly, IBPS SO Salary is one of the major factors that attract candidates to go for the IBPS SO Exam. Therefore, a candidate should possess complete knowledge about the salary structure of IBPS SOas per the 7th Pay Commission, as this will help you to know what you will receive after getting selected as an SO.
In this article, we will shed light on the IBPS SO Salary package of all the posts!
IBPS SO Salary Components
IBPS SO Salary is a sum total of different components. Given below is the details of the components that make up the IBPS SO Salary:
| Particulars | IBPS SO Salary Components |
| Basic Salary | 23700-980(7)-35560-1145(2)-32850-1310(7)-42020. |
| Dearness Allowance | 36% of basic salary (approx. ₹ 8605). Dearness Allowance is the cost of living. |
| House Rent Allowance | HRA varies from 7% – 9% which is paid by the bank to the employees for expenses in accommodation in any city. |
| Special Allowance | It is given as per your performance. It is a bonus amount which varies as per your performance. |
| City Compensatory Allowance | It lies between 0%-4% given by the bank to employees to help in living in the high-end lifestyles of a metropolitan city. |
| Lease Allowance | This can be availed up to ₹ 29500 by the employees as per their location of work. It is lease accommodation which when availed by the employee devoids him of Naval HRA. |
IBPS SO Salary Allowances
| Components | Percentage Distribution |
| House Rent Allowance | 7%-9% (Location dependent) |
| Dearness Allowance | ₹ 8605.88 |
| Special Allowance | 7.75% (Scale I) |
| City Compensatory Allowance | 0-4% (Depends on location) |
| Miscellaneous | ₹ 4100 |
IBPS SO Salary (In-hand) 2021
IBPS SO In-hand salary is the total amount the employee receives after deduction due to various factors. ₹ 38000 – ₹ 39000 is the nearly gross salary of an IBPS SO. After many deductions, the employee receives a total of ₹ 33000 – ₹ 35000 which is the in-hand salary.
IBPS SO Job Profile 2021
Every IBPS SO profile demands different responsibilities. Here is what all the profiles of the IBPS SO asks for:
1. Agriculture Field Officer (Sign up & Get a FREE Mains Mock Test)
- Supervises loans and other related issues and works for the development of rural banking
- Makes connections with NABARD, RRBs, and other similar institutions and organizations.
- Evaluates and works for the agricultral needs of people in rural areas.
- Helps in developing schemes to fight cybercrimes and Supervises the core banking systems and interfaces.
- Takes charge of the smooth functioning of banking softwars and works to resolve technical issues.
3. Rajbhasha Adhikari
- Helps to conduct and organise language workshops and in developing the learning of local languages.
- Responsible for the verification of documents in different languages used in banks.
4. Law Officer
- A representing body on behalf of the bank in court hearings and Undertakes legal proceedings.
- Maintains an error-free working and keep a check on the reliability of the documents.
5. HR/Personnel Officer
- Checks the performance of the employee and manage the promotion, schemes, compensation, and policies for the employees.
- Manage the database consisting of employee details and Performs recruitment process of the employees
6. Marketing Officer (Sign up & Get a FREE Mains Mock Test)
- Makes Strategizies for promotional activities and helps in business development steps and schemes.
- Promotes the bank and exands customer-base and helps in improving business and deals.
IBPS SO Career Growth Opportunities
Every candidate looks for growth in their career. IBPS SO provides ample opportunities for career growth to every employee. The following will tell the career growth opportunities in the hierarchy in detail:
- The Junior Management – Scale 1 (Assistant Manager/ Officer)
- The Junior Management – Scale 2 (Manager)
- The Middle Management – Scale 3 (Senior Manager)
- The Senior Management – Scale 4 (Chief Manager)
- The Senior Management – Scale 5 (Assistant General Manager)
- The Top Management – Scale 6 (Deputy General Manager)
- The Top management – Scale 7 (General Manager)
IBPS SO Salary Variation on the basis of Scale
For various posts, the salary is different for different scales. The details are given below:
| Grade | IBPS SO Salary |
| Officer Scale I | Salary per month– ₹ 36400/- Pay Scale– ₹ 23700-980/7-30560-1145/2-32850-1310/7-42020 |
| Officer Scale-II | Salary per month – ₹ 48800/- Pay Scale- ₹ 31705-1145/1-32850-1310/10-45950 |
| Officer Scale III | Salary per month – ₹ 64600/- Pay Scale- ₹ 42020-1310/5-48570-1460/2-51490 |
Mocks for IBPS SO 2021
With the above-mentioned information, you now know that IBPS offers a good salary package to SOs employees, along with many perks like medical allowance, house and furniture allowance, entertainment allowance, newspaper allowance. This will help you in making an informed decision while selecting this job as a career option.
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