IBPS PO Salary 2024: In Hand Salary, Pay Scale, Perks, Salary Slip

IBPS PO salary includes various components that cumulatively deduct or add the amount. The salary structure of IBPS PO is given below.

Candidates must know the different components of IBPS PO salary structure. Numerous components of the salary such as Dearness Allowance, City Compensatory Allowance, and Special Allowance cumulatively deduct or add the amount. The pay scale is INR 23,700- (980 / 7)-30,560- (1145 / 2)-32,850- (1310 / 7)-42,020  (INR 980 is the annual increment that add up to the IBPS PO salary and is applicable for seven years). The revised basic salary is INR 23,700- (980 x 7) -30,560- (1145 x 2)-32850- (1310 x 7)-42,020.

IBPS PO pay scale is INR 23700 - (980 / 7) - 30560 - (1145 / 2) - 32850 - (1310 / 7) – 42020, including INR 980 is the annual increment that will add up to the basic salary, and it will be applicable for 7 years. The basic salary after 7 Years is INR 30,560. Also, the basic IBPS PO salary after 7 + 2 Years is INR 32,850 and the basic salary after 7 + 2 + 7 Years is INR 42,020. (as per the 10th Bipartite settlement). The basic IBPS PO salary is INR 36,000. Besides, candidates get other allowances such as Dearness Allowance (DA), House Rent Allowance (HRA), City Compensatory Allowance (CCA), and Special Allowances are also there. 

The starting IBPS PO salary is INR 52000 to 55000. This also includes Dearness Allowance, House Rent Allowance, Travel Allowance and other perks.  After deductions the salary is around INR 52000 to 55000 per month. The salary structure of IBPS PO is given below.

The revision of IBPS PO salary for bank employees was approved to be effective from November 2017 under the 11th bipartite settlement. The revised salary is valid for a span of five years till 2023 or until revised by the government. Nearly 8.8 Lakhs employees are benefiting from the approval of the 11th bipartite settlement. 

The training period for a newly-recruited Probationary Officer (PO) typically lasts for six months. This period includes a classroom-based training programme as well as on-the-job training. During this time, the PO learn about various aspects of banking, including banking laws and regulations, financial management, and customer service. After training, they are confirmed to the job.

IBPS PO Dearness Allowance (DA) is given to the employees is based on the percentage of the basic salary  (In January 2016, it was around 39.8 per cent of the basic salary, which was reduced to 23.87 per cent as on November 2017). The DA is revised  This every three months based on the All India Consumer Price Index Data published by the Ministry of Statistics and Program Implementation, Government of India. 

Candidates selected for the post of IBPS PO are entitled to the post of medical facility, newspaper allowance, travel allowance, HRA, DA and other allowances. These allowances are offered to candidates along with the IBPS PO salary. The allowances offered to candidates are given below:

• Dearness Allowance (DA)
• House Rent Allowance (HRA)
• Special Allowance
• City Compensatory Allowance
• Travel allowance
• Newspaper Reimbursement
• Medical Aid

A total of 11 banks are participating in the recruitment process of IBPS PO. The list of the participating banks is given below:

• Bank of Baroda
• Bank of India
• Bank of Maharashtra
• Canara Bank
• Central Bank of India
• Indian Bank
• Indian Overseas Bank
• Punjab National Bank
• Punjab & Sind Bank
• UCO Bank
• Union Bank of India

The allowances offered to IBPS PO are listed below:

House Rent Allowance (HRA): It varies according to the place of posting and can be 9.0% or 8.0% or 7.0% of the basic salary depending upon the type of cities (i.e., metros, big cities or other locations).

Dearness Allowance (DA): Dearness Allowance (DA) is given to the employees as a percentage of the basic salary.

Special Allowance (SA): The Special Allowance is about 7.75% of the basic pay

City Compensatory Allowance (CCA): Based on the type of city, it might be 0%, 3% or 4%.

The career growth of Probationary Officer is very good. Candidates get vast opportunities after grabing the job. On the basis of their performances, experiences, and knowledge below are the positions that candidates get time to time.

1. Middle Manager – Middle Management Grade Scale 2 
2. Senior Manager – Middle Management Grade Scale 3 
3. Chief Manager – Senior Management Grade Scale 4 
4. Assistant General Manager – Senior Management Grade Scale 5 
5. Deputy General Manager – Top Management Grade Scale 6 
6. General Manager – Top Management Grade Scale 7 
7. Executive Director 
8. Chairman and Managing Director

The roles and responsibilities of IBPS PO are given below:

• During the probationary period, selected candidates are trained for various day-to-day banking operations such as finance, accounting, billing, investment, revenue collection, etc.
• Probationary Officer has to resolve the queries of their customers
• Probationary Officer is responsible for the maintenance and supervision of their respective branch activities
• Probationary Officer is responsible for bringing new business to the branch
• Probationary Officer has to direct daily transaction activities and loans related activities
• Probationary Officer is responsible for maintaining public relations with the cutoners and bring issues and grievances to the bank authority

The difficulty level of IBPS PO exam varies depending on the variety of factors such as the number of applicants, the level of competition, and the complexity of the material being tested. IBPS PO is a competitive exam that requires significant amount of preparation and hard work in order to clear the exam. It is important to familarise themselves with the exam format and syllabus. Candidates must also solve the previous years' question papers to know the type of questions asked in the exam. The tips and tricks to prepare for IBPS PO exam are given below:

• The first and foremost step towards IBPS PO exam preparation is knowing the syllabus and exam pattern
• Candidates must also go through the previous years’ cut off marks to know the level of competition and prepare accordingly for the exam
• After going through the syllabus, candidates must prepare preparation strategy for the exam based on the important topics
• Candidates must also solve the previous years’ question papers to know the type of questions asked in the exam
• Candidates must also attempt mock test to improve speed and accuracy

The training period for a newly-recruited Probationary Officer (PO) typically lasts for six months. This period includes a classroom-based training programme as well as on-the-job training. During this time, the PO learn about various aspects of banking, including banking laws and regulations, financial management, and customer service. After training, they are confirmed to the job.