Check out in hand salary of IBPS PO, Bank PO First salary structure, Bank PO Job Profile

IBPS PO Salary 2022: Candidates seeking career in banking industry are always keen to know salary facts of an IBPS PO Salary Structure. The Institute of Banking Personnel Selection (IBPS) through its selection process hires Probationary officers, who are offered a lucrative salary. The Job profile of a bank PO is a reputed job and has all benefits which the Government of India provides to its employees. The basic bank PO salary structure is designed to enable the officer to save for the future as well as to have the capacity of living a high standard lifestyle. To know more about IBPS PO Salary 2022 and get complete details ready this article.

Having insights of IBPS PO promotion and job profiles can help a candidate to forecast the future of career, limits, and heights he can touch while working in banks. This article provides complete information about the role of probationary officers in banks and responsibilities of bank PO.

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This article will enrich you with the information on in-hand salary of bank PO, Gross salary of bank probationary officer, deductions, allowances, and other facts. The IBPS PO Salary 2022 is ruled by Indian Banks Association (IBA) and settlements are done with negotiations. Read the article to gain knowledge of the IBPS PO salary in hand, basic pay, and salary after the 11^th bipartite agreement.

Table of content

• IBPS PO Salary Structure
• IBPS PO In-Hand Salary
• IBPS PO Salary after 11^th Bipartite Settlement
• IBPS PO Allowances 2022
• IBPS PO Salary and Perks
• IBPS PO Job profile
• IBPS PO Participating Banks

IBPS PO Salary Structure

The Institute of Banking Personnel Selection offers very lucrative salaries to probationary officers. Many perks and allowances are included in IBPS PO salary package. After a lot of hard work and with competing Lakhs of candidates when an officer is recruited in Bank PO, the candidate gets a satisfactory amount as IBPS PO Salary 2022. Let’s directly jump to the structure of IBPS PO salary 2022 and know about the Dearness Allowance, City Compensatory Allowance, and Special Allowance.

IBPS PO Salary Structure
Basic Pay	Rs. 36000/-
Special Allowance	Rs. 5904/-
Dearness Allowance	Rs. 8593.20
CCA	Rs. 1400/-
Others	Rs. 1552.50
HRA	Rs. 3240/-
Learning Allowance	Rs. 600/-
Gross Salary	Rs. 57,289.70
Deduction	Rs. 4659.32
Net IBPS PO Salary	Rs.52630.38

The pay scale described by IBPS is 23700-(980/7) – 30560 – (1145/2) – 32850 – (1310/7) – 4220 which also includes the annual increment of Rs. 980/- which will add up to the IBPS PO Salary. The application will be for a period of 7 years.

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IBPS PO In-Hand Salary

Now that we are aware of the gross IBPS PO salary 2022, let’s discuss the in-hand salary of bank PO. There are many doubts in the candidate’s mind like, Is there any difference in salary of SBI probationary officer and other bank probationary officer? Do banks pay a high salary for remote location posting? How much can a bank probationary officer earn after deductions? We will see answer to all these questions below –

 Is there any difference in salary of SBI probationary officer and other bank probationary officer?

The answer to this question is Yes, the in-hand or net salary of bank probationary officers varies bank to bank as per allowances and perks. Almost every bank provides different amounts for the same allowance component. For example, House rent allowance provided by a bank will differ from what another bank is providing. Likewise mobile bill compensation or conveyance will vary bank to bank. Because of this reason the salary differs bank to bank. However, you can see it as a fact that SBI credits a higher salary to its employees in comparison to other banks.

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Do banks pay a high salary for remote location posting?

Yes, banks as per requirement of manpower and transfer/ posting rules may post you to any part of India. According to the posting and location the HRA and other allowance differs. For example, HRA in rural areas will be lesser than the city posting. Hence in-hand salary of IBPS PO differs according to posting location.

How much can a bank probationary officer earn after deductions?

Newly recruited bank probationary officers are required to complete 2 years’ probation period and qualify a confirmation exam after completing probation period to qualify for confirmed bank officer. The in-hand salary of a probationary officer is approximately Rs. 45,000/- and confirmed officer is Rs. 55,000/- approximately. However, it may differ bank to bank and as per posting location.

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IBPS PO Salary after 11^th Bipartite Settlement

Bipartite Settlement is a process to revise salary and other compensation allowance to bank employees. The latest 11^th Bipartite settlement has benefited the employees by increasing their salary by 15 percent.  After signing the agreement, the bank employee will get a new salary based on their previous basic pay added to DA. In this 11^th bipartite settlement, the concept of Performance Linked Incentive is also introduced to motivate the employee to put in their best effort and shine in the banking industry.

IBPS PO Allowances 2022

There are numerous allowances which are provided to a bank officer and make the IBPS PO salary 2022 very lucrative. The detailed information is given below –

1. Dearness Allowance (DA) –

Presently the dearness allowance is 75.9% of the basic pay. This allowance is revised every fourth month by banks.

2. Special Allowance –

Special allowance at present is 7.75% of the basic pay.

3. House Rent Allowance –

Depending on the location of posting and bank this varies from 7% – 9% of the basic pay.

4. City Compensatory Allowance –

Like House Rent Allowance, this allowance is also depending on posting location and ranges between 0 to 4% of the basic pay.

5. Other allowance –

As per provisions of the bank, other allowances may vary. Some of the banks do not provide all allowances which are listed below –

• Travel allowance – As actual expenses
• Monthly conveyance – Vary bank to bank (Approximately Rs. 3000/-)
• News Paper Allowance – Some Banks provide fixed amounts, and some provide a percentage of the newspaper monthly bill. (Approximately Rs. 500/-)
• Medical Reimbursement – Rs. 8000/- annually
• Entertainment Allowance – Fixed Allowance, differs bank to bank (Approximately Rs. 500/-)
• Leased Accommodation – Fixed Allowance, differs bank to bank and as per location of posting
• Mobile bill allowance – Fixed Allowance, differs bank to bank (Approximately Rs. 400/-)
• Canteen Subsidy – Not all banks provide this allowance (Approximately Rs. 300/-)
• Lunch Allowance – Some of the banks provide this allowance (Approximately Rs. 300/-)
• Bag Allowance – Generally fixed but may vary bank to bank (Approximately Rs. 1500/-)
• Uniform Allowance – Not for all cadre but fixed in all banks (Approximately Rs. 3000/-)
• Furniture Allowance – Depending on the confirmation and job profile it differs and provided by all banks (Approximately Rs. 75000/-)
• Other Miscellaneous

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IBPS PO Job Profile –

After the selection process, the candidate is hired as Junior Management Grade Scale 1 referred as JMG Scale – 1 Officers. The officers are given responsibilities to manage the bank branch, assisting the seniors and supervising the clerical work. The roles and responsibilities of this cadre are defined below.

• Handling day to day activities of the bank.
• Work in departments like Marketing, Accounting, Finance etc.
• Handling customers.
• Handling customer complaints and grievances.
• Supervising Clerical work.
• Loan processing and other loan related tasks.

However, their detailed work profile and entitlement is decided by bank senior management as per postings.

List of banks participating in IBPS PO Exam 2022

1. Bank of Baroda
2. Bank of India
3. Bank of Maharashtra
4. Canara Bank
5. Central Bank of India
6. Indian Bank
7. Indian Overseas Bank
8. Punjab National Bank
9. Punjab & Sindh Bank
10. Uco Bank
11. Union Bank of India

Other Posts:

• IBPS Bank PO Exam 2022-23 official notification of ibps.in
• Tentative dates of IBPS Bank PO Exam 2022-23
• IBPS PO 2022-23 bank-wise vacancy click here
• IBPS PO 2022-23 Exam Pattern
• IBPS PO 2022-23 Exam Syllabus

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