IBPS PO Salary 2019: This year it is the 9th year of IBPS PO recruitment by the Institute of Banking and Personnel Selection. The IBPS PO 2019 official notification has been released with the number of vacancies being 4336. For the IBPS PO exam, your preparation should be very hard to clear it. In this recruitment, the one common question that candidates get in their mind is the IBPS PO Salary. Before applying for the exam you should know that, what is IBPS PO salary in hand 2019? Many candidates may not know the exact answer for this question. Here we are providing you all the details about the IBPS PO salary and allowances. Yes, Do you know generally what is the Salary structure of Bank PO? Most of the public sector banks offer Rs. 23,000/- as basic pay for the IBPS PO.
In this article, the aspirants can know the complete details about the in-hand Salary of IBPS PO, salary Structure, increments, allowances, Perks and more. Additionally, candidates should also be aware of the IBPS PO job profile, promotion details, and their career growth opportunities. To your reference, we are providing here the clear details about all the topics mentioned above.
IBPS PO Salary Structure in Details
|IBPS PO Salary Details & Perks|
|Total (without HRA)||36570|
|Gross with HRA||38703|
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IBPS PO Job Profile:
Among the many government jobs in India, IBPS PO is one of the most important dream jobs for the banking aspirants. The work profile of the IBPS PO includes the following;
- Dealing with the queries of customers of the branch.
- Maintenance and supervision of regular day-to-day branch activities.
- Public relations and addressing the issues and grievances of customers.
- To direct the daily transactions of customers and the processing of various loan details.
- To bring new businesses to the branch.
The probationary officer should know all the details about the implementation of the policies and important decisions made by the management. Generally, the probation period of the PO is 2 years. Also, it may vary for some banks. After the probation period, the PO is promoted as the Assistant manager.
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IBPS PO Basic Salary and Increment:
In most of the public sector banks, the basic IBPS PO salary is almost the same. , the newly appointed bank PO will get a basic salary of Rs.23700/- which was effective from 1st January of 2016. Also the annual increment of Rs.980/- is available for a PO for a period of 7 years. The increment for the next two years is Rs.1145/-. Then for the next 7 years, the increment will be Rs.1310/-.
Dearness Allowance (DA):
Dearness allowance is around 46% of IBPS PO basic salary and it is revised on a quarterly basis. The dearness allowance is calculated based on the Consumer Price Index (CPI) data. Also, it is directly proportional to inflation. It means that the DA will go up if inflation rises and vice versa.
Housing Rent Allowance (HRA):
HRA – House Rental Allowance is also known as the leased house accommodation allowance. It will range between 7% to 9% of the IBPS PO basic salary, depending upon the big cities, metros and rural locations.
It is the latest added allowance to the IBPS PO salary structure. It is around 7.75% of the basic pay of a probationary officer. After completion of one year service, you will get an increment of Rs.400/- and Rs.500/- for 2nd year.
City Compensatory Allowance (CCA):
The city compensatory allowance depends upon the location where you hold the posting. IT will range between 3% to 4% based on the location of the job. It also can be 0%.
IBPS PO Perks:
Perks are nothing but the additional employee benefits given by the organization. The IBPS PO will have the following perks in addition to their salary;
- Medical Aid: Most of the banks pay Rs.8000/- per annum as a medical aid.
- Newspaper Reimbursement: A fixed monthly amount is provided equivalent to the cost of the newspaper.
- Travel Allowance: It may be a fixed amount or the amount equivalent to the reimbursement of petrol bills.
- New Pension Scheme: The IBPS PO will have the benefits covered under the New Pension Scheme.
Note: The Salary of IBPS PO is based on the revised banking norms. Also, the promotion of the PO is based on his individual performance alone.
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IBPS PO Promotion & Career Progression:
Junior Management Grade – Scale I: Officer i.e. PO
Middle Management Grade – Scale II: Manager
Middle Management Grade – Scale III: Senior Manager
Senior Management Grade – Scale IV: Chief Manager
Senior Management Grade Scale V: Assistant General Manager
Top Management Grade Scale VI: Deputy General Manager
Top Management Grade Scale VII: General Manager
Executive Director (ED)
Chairman and Managing Director (CMD)
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