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IBPS PO Salary: The IBPS PO salary offers an attractive compensation package, making it a desirable career choice in the banking sector. As a Probationary Officer (PO) in the Institute of Banking Personnel Selection (IBPS), candidates can expect a competitive salary along with various benefits and allowances. The IBPS PO salary includes basic pay, dearness allowance, house rent allowance, medical benefits, and other perks. In this blog, we will provide you with the details of the IBPS PO Salary 2024 and the in-hand salary.
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Knowing the salary is the first thing that any banking aspirant can do. Because it is necessary to know about the pay and perks of the career that one is intending to join. So, here we have provided the salary of IBPS PO as per the 11th Bipartite Agreement:
Components | Amount |
Basic Pay | Rs. 36,000 |
Special Allowance | Rs. 5,904 |
Dearness Allowance | Rs. 8,593.20 |
CCA | Rs. 1,400 |
Learning Allowance | Rs. 600 |
DA Others | Rs. 1,552.50 |
Housing Rent Allowance | Rs. 3,240 |
Gross Salary | Rs. 57,289.70 |
Deduction (Professional Tax & NPS) | Rs. 4,659.32 |
Net Salary | Rs. 52,630.38 |
The in-hand salary package offered to an IBPS PO is Rs. 52,000 to 55,000 with dearness allowances, special allowances, HRA, and other perks. The IBPS PO Gross Salary is around Rs. 57,000 and after the deduction of professional tax and NPS, the net in-hand salary remains around Rs. 52,000 to 55,000.
The IBPS PO gross salary comprises Basic, DA, HRA, CCA, and Special Allowance. The break up is as follows
Salary Components | Details |
---|---|
IBPS PO Basic Pay | Rs. 36,000/- ( Increment in 4 stages) |
House Rent Allowances | 7%-9% of the basic pay |
Dearness Allowance | 23.87% of the Basic Pay (Varies based on inflation rates) |
City Compensatory Allowance (CCA) | 3% or 4%(depending on the place of posting) |
Special Allowance | 7.75% of the basic pay |
The allowances that make up the IBPS PO Salary are as follows-
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The career growth offered to Probationary Officers is very attractive providing vast opportunities to the PO in the organization. IBPS PO can aim for higher positions within the bank on the basis of their performance, knowledge, and experiences. Following is the career growth profile for an IBPS PO
Probationary Officer in the banking sector is the reputation and most desired job profile among graduates. Here is the job profile for the post of bank PO in various banks in India.
Training: The selected IBPS PO candidate is appointed as an Assistant Manager and holds that designation throughout his/her probation period. The candidate will be trained in the Training Academies of the bank. This training period differs from bank to bank.
Post-training: After the training, the candidate is posted to some other branch, depending on the bank, and has to go through the probation of 2 years, during which the candidate is exposed to the different aspects of the Bank.
Probation period: During the probation period, the candidate is exposed to different practical aspects of banks such as Marketing, Finance, General Banking, Investment, etc., and various other banking activities to help them get familiar with the workings of the banks.
After the probation period, the PO is confirmed as Assistant Manager and has the following responsibilities:
Manage the front desk: This includes guiding the customers, handling their complaints, introducing them to the products available, and issuing DDs, cheques, ATM Cards, etc.
Bring new business: Duties include bringing new business to the bank and marketing the new schemes.
Supervise work: Duties include supervising the work of Bank Clerks like Cash Management, Account opening, and dealing with customers. PO is also responsible for authorizing and checking cash transactions and proofreading the entries done by Clerks.
Handle various departments: PO is required to have working knowledge in various bank departments such as Marketing, Finance, Loans, and advancing and Accounting.
Process the loans: PO is responsible for supervising the process of loan transactions such as providing and documenting loans.
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We hope this blog gave you a better understanding of the IBPS PO Salary 2024. To read more such blogs, visit the Oliveboard website!
Q.1 What is the in-hand salary of the IBPS PO?
Ans. IBPS PO receives an in-hand salary of approx Rs.52,630
Q.2 What is the basic pay for the IBPS PO 2024?
Ans. Rs. 36,000 is the basic pay for the IBPS PO 2024.
The IBPS PO Preliminary Exam 2024 will be conducted on 19th October 2024 and 20th October 2024
There 3 stages in the IBPS PO selection procedure: Preliminary Examination, Main Exam, and Interview. The candidate has to qualify in each stage for becoming eligible for an appointment to IBPS PO.
Yes, you can apply. The criteria are that you must be a graduate from a recognised university.
Oliveboard provides 20 IBPS PO Prelims Mock Tests, 10 Mains Mock Tests, and 100+ Sectional & Topic Tests. Solving these mock tests and analyzing your performance after each mock test is the best way to clear the IBPS PO Prelims Exams.
IBPS PO Notification 2024 is expected to be released in August 2024.
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