SBI PO Salary 2019: Career Growth in the terms of designation, salary, and other allowances is the most important for every employee of the organization to motivate their work and to trigger their spirit towards achieving their goals. Remuneration offered by SBI (SBI PO Salary) is comparatively high when compared to other banks.
SBI briefly as State Bank of India has recently announced Probationary Officer (PO) recruitment for the year 2019. SBI going to conduct PO recruitment drives 2019 to hire 2000 vacancies in various branches throughout India. SBI always provided a lucrative salary and other emoluments to their employees. So SBI PO recruitment always grabs the attention of the candidates those who want to become the banking authority.
One who applied for any job, the first thing they want to know about SBI PO salary and job profile. So SBI PO aspirants also wanted to know about SBI PO Salary 2019 and other benefits of the employees. For that, we have provided a detailed pay scale and other allowances for SBI PO cadre employees in this blog. Candidates can have a look at this, to know how much important is this SBI PO recruitment for their career.
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SBI PO Job Role 2019
- The SBI PO appointed freshly shall be on 2-year probation from the date of appointment
- In this probation period, the PO will be trained to handle various bank roles which can be clerical work or administrative work
- The PO trainee will handle accounting, finance and billing related task of the bank
- He/she will also act as the PRO for the bank and will act as a bridge between the public and the bank
- He/she will take note of the requests, complaints, and grievances of the public and address it on behalf of the bank
- With time, the trainee PO will also have to take up managerial work and start taking certain decisions on behalf of the bank
- He/she will track the work of the SBI clerks and see that everyone is performing their duty assigned
- The PO should also issue ATM cards, Cheque books, and Demand Drafts to the customers
- Along with handling the above tasks, the PO trainee shall keep himself updated from time to time with the latest bank policies, rules, and updates
- Once the probation period is over, the SBI PO will secure a permanent position in the bank, following which he/she shall undertake more responsibilities like planning, budgeting, etc.
SBI PO Salary Structure
SBI has revealed the basic pay for PO cadre employees in the official notification 2019 as Rs.27,620/-. SBI PO employees will receive the starting pay with 4 advance increments in the scale of 23700-980/7-30560-1145/2-32850-1310/7-42020. Candidates those who appointed as the probationary officer can avail Dearness Allowance (DA), House Rent Allowance (HRA)/ Lease rental, City Compensatory Allowance (C.C.A), Medical and other allowances &advantages as per ordinance in force from time to time.
Including all the remuneration and allowances, SBI PO employee will receive a minimum of Rs.8.20 Lakhs to a maximum of Rs.13.08 Lakhs as annual income depends on the posting area for Officer Scale 1 employees.
- Dearness Allowance (DA) = 46.9% of the Basic Pay (Revised Quarterly)
- City Compensatory Allowance (CCA) = 4% or 3%. (Rs. 870)
- HRA = 9%, 8% or 7% (Rs. 2486)
- Furniture Allowance = Rs. 120000/-
- Medical Insurance = 100% medical coverage for SBI employees and 75% for their family members
- Travelling Allowance =For official travels, reimbursement of AC 2-tier fare is provided
- Petrol = Approx. Rs. 1100-1250
- SBI PO Gross Salary with HRA = Total Compensation: 7.55 lakhs and maximum of 12.93 lakhs (It may change according to the place of Posting.)
- PF (10% of Basic) = Rs. 2762
- NPS (10% of Basic+DA) = Rs. 4000
- Income Tax = As per govt norms.
Take Home Salary: According to the above earnings and deductions the Take Home SBI PO Salary will be Rs. 40,000/- (Approx.)
Dearness Allowance (DA): Dearness allowance will change Quarterly in the month of February, May, August, and November according to the government norms.
Housing Allowance (HRA): HRA – House Rental Allowance of SBI PO will be 9%, 8% or 7% from the basic salary. It may be vary based on place of posting.
Travel Allowance (TA): Reimbursement of Official travel will be applicable for SBI POs.
Medical Benefits: State Bank of India use to provides 100% medical benefits to the employees of SBI. Also, the Family member of SBI employees will get 75% Medical benefits.
SBI PO Perks and Benefits
Apart from the SBI PO Salary, the following are the perks of being an SBI Probationary Officer:
- Financial stability
- Job security
- Huge growth opportunities
- Can supervise various departments
- Work as a major decision maker
- Social status
Career Path of SBI Probationary Officer
Securing the job of an SBI PO is like knocking on a door of opportunities. Once you work hard and crack the SBI PO exam that consists of 2 rounds: prelims and the main round followed by the final interview. Once you clear the SBI PO exam and get appointed as an SBI PO trainee for 2 years, your focus for that time period is to learn all the banking work and to understand the policies and rules of the bank.
After 2 years when you will secure a permanent PO position, you will undertake various job roles within the bank and outside as mentioned above. During your tenure as an SBI PO which can last up to 6-7 years, you can wear many hats within the bank and work with different departments closely. This role will also give you a chance to get close to the public as you will be directly interacting with them for various bank needs.
If the employee works hard to achieve organization goals, surely that organization will honor the work with promotion and all other benefits. So get promoted from your designation is on the hands of you, employees work will speak to the organization during the promotion period. So clinch your career growth by showing your hard work and loyalty to uplift the organizations growth. Here is the career growth of SBI PO,
Deputy Managing Director
Chief General Manager
Deputy General Manager
Assistant General Manager
Assistant Manager (Probationary Officer)
Each candidate those who selected through PO recruitment must have work for Probation Period of 2 years like training to know about banking services and responsibilities in the aspects of clerical activities, bank accounts opening, customer service, processing or passing of loans, etc. This training will be provided through retail and rural bank. Scale 1 Officers training will be given in the SBI training institutes. Candidates those who have completed the probation period successfully will attend the screening process conduct by SBI. Those who are qualified will appoint as scale 1 officer or may promote as scale 2 officers.
We hope the above-provided information will enlighten your thoughts about SBI PO salary and career growth. After that, you may release how important is this life-changing career for you. To clinch the SBI PO career, first, you have to apply for SBO PO recruitment 2019 and do hard work to clear all the recruitment process.
All the Best for your Bright SBI PO Career!!!
Get the SBI PO Related Articles Here:
|SBI PO Notification 2019||SBI PO Vacancies|
|SBI PO Exam Pattern||SBI PO Syllabus 2019|
|SBI PO Study Materials||SBI PO Admit Card|
|Get the SBI PO Mock Test Now|