IBPS SO Salary: IBPS Specialist Officer Salary, Pay Scale & In-Hand Salary

Exam On: 14 Dec '24

Anangsha PatraDeputy Manager – Editorial

Updated on Jul 28, 2022 14:41 IST

IBPS SO Salary: Candidates applying for IBPS SO 2022 must be aware of the IBPS SO salary 2022 and other components of the salary structure. IBPS SO recruitment is done to select eligible candidates for the Specialist Officers position in the public sector banks. The banks offer lucrative IBPS SO salary to Specialist Officers. Candidates who join as Specialist Officers in the public sector banks of India are also entitled to numerous emoluments and allowances. IBPS SO salary varies in accordance with the scales. In this article, we have discussed in details IBPS SO salary, job profile, career growth and many more details.

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Table of Contents

IBPS SO Salary
Different Posts Under IBPS SO Exam
IBPS SO Salary
IBPS SO Salary: Perks & Allowances
IBPS SO In-hand Salary
IBPS SO Job Profile
IBPS SO Career Growth
IBPS SO Vacancies
IBPS SO Salary FAQs

IBPS SO Salary

IBPS SO salary is one of those important factors which attracts candidates most to opt for these posts. The basic pay of candidates after clearing IBPS SO exam is INR 23,700 for Scale I. Besides the basic pay, candidates are also entitled to other perks and allowances. IBPS SO exam is conducted every year by IBPS to recruit Specialist Officers in various participating banks. Candidates applying for the exam consider IBPS SO salary as one of the major components for choosing it as a career option.

Candidates often search for IBPS SO salary and related details such as allowances, perks, career growth, etc. before applying for the exam. Knowledge about salary for all the posts under IBPS SO helps candidates to understand the different prospect of the work.

Different Posts Under IBPS SO Exam

IBPS SO recruitment is conducted for the following posts.

Post Code	Post Offered
01	IT Officer (Scale-I)
02	Agriculture Officer (Scale-I)
03	Rajbhasha Adhikari (Scale-I)
04	Law Officer (Scale-I)
05	HR/Personnel Officer (Scale-I)
06	Marketing Officer (Scale-I)

IBPS SO Salary

IBPS SO salary varies according to the posts and grades. The salary break-up for various posts is given below.

Grade

IBPS Specialist Officer Salary (In INR)

Officer Scale I

Monthly salary: 36,400

Pay scale: 23,700-980/7-30,560-11,45/2-32,850-1310/7-42,020

Officer Scale-II

Monthly salary: 48,800

Pay scale: 31,705-1145/1-32,850-1310/10-45,950

Officer Scale III

Monthly salary: 64,600

Pay scale: 42,020-1310/5-48570-14,60/2-51,490

IBPS SO Salary: Perks & Allowances

Apart from the attractive IBPS SO salary, candidates are also entitled to perks and allowances too, such as leave policy, leave travel allowance, conveyance allowance, newspaper allowance, medical allowance, entertainment allowance, house and furniture allowance, etc. IBPS SO officers receive compensation of INR 7.55 lakh to INR 12.93 lakh. It may vary depending on the place of posting and other factors.

Particulars	Details
Dearness Allowance	It is almost 36 per cent of basic salary (approximately INR 8605)
House Rent Allowance	HRA is paid for the accommodation expenses and varies as per the city of residence of the employee. It is around 7 to 9 per cent depending on the place candidates are posted
Special Allowance	It includes incentives or the performance-based bonus given to employees. It is around 7.75 per cent of DA+Basic
City Compensatory Allowance	This varies in the range of 4 per cent, 3 per cent, or 0 per cent depending upon the city of posting. This is given to compensate for the high cost of living for the employees living in metropolitan cities
Lease Allowance	The lease accommodation option is available and can be availed up to INR 29, 500 as per the posting location. In that case, employees will not be able to avail HRA.
Conveyance Allowance	Candidates are given a fixed amount of fuel expense depending upon two-wheeler or four-wheeler
PF Contribution	It varies between INR 3,000 to INR 3,500

IBPS SO In-hand Salary

The successful candidates of IBPS SO exam will be recruited to the post of Junior Management Grade Scale I Cadre. The pay scale for all the posts is more or less similar. The basic pay is INR 23,700. The pay scale is INR 23,700-980 (7)-30,560-1145 (2)-32,850-1310 (7)-42,020. IBPS SO in-hand salary is calculated after deduction of multiple factors from gross salary. The gross salary of IBPS SO is around INR 38,000 to INR 39,000. After deductions, the employees get around INR 33,000 to Rs 35,000 as in-hand or take-home salary.

IBPS SO Job Profile

The post-wise job profile of IBPS SO is given below:

Agriculture Field Officer

Promoting rural banking
Understand the core and financial needs of people in rural areas
developing relations with RRBs, NABARD, and other organizations and taking important leads
looking after loan related issues

IT Officer

Looking after technical issues of the banking system
Taking care of the core banking system
Maintaining the software used for various banking operations
Look after the security systems of websites to prevent cyber crimes

Rajbhasha Adhikari

Checking important documents in respective languages used in the banking system
language-related workshops conduction
Promote and train employees in the local language

Law Officer

Taking care of legal affairs of the bank
Represent the bank in court to deal with legal proceedings
Monitor errors and authenticity of documents as per banking regulation

HR/Personnel Officer

Facilitate the joining and induction process of the employees
Maintenance of employee database
Performance and evaluation of employees
Designing welfare schemes, promotion, and compensation of all employees

Marketing Officer

Developing marketing and promotional activities for different zones
Business development strategy analysis
Promotion of the bank, increase customers and bring new business deals

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IBPS SO Career Growth

Candidates who clear IBPS SO exam are selected for Scale-I and II posts. They are required to undergo training, workshops, assessments to improve their skills and become eligible for promotions. Based on the candidate's performance, they are promoted to the next level. Given below is the list of hierarchies that are followed in IBPS SO promotions.

Junior Management- Scale 1, Officer/ Assistant Manager
Junior Management- Scale 2, Manager
Middle Management- Scale 3, Senior Manager
Senior Management- Scale 4, Chief Manager
Senior Management- Scale 5, Assistant General Manager
Top Management- Scale 6, Deputy General Manager
Top Management- Scale 7, General Manager

IBPS SO Vacancies

The vacancies for 2022 are yet to be released by IBPS. A total of 1,828 vacancies were announced in 2021. The post-wise vacancy break-up of last year is given below:

Posts	Vacancies
IT Officer Scale 1	220
Agricultural Field Officer Scale 1	884
Rajbhasha Adhikari Scale 1	84
Law Officer Scale 1	44
HR/Personnel Officer Scale 1	61
Marketing Officer Scale 1	535
Total	1,828

Also Read: IBPS SO Vacancies

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IBPS SO Salary FAQs

Q: What is the basic pay of IBPS SO?

A: The basic pay of IBPS SO is INR 23,700.

Q: What is the payscale of IBPS SO?

A: The payscale of IBPS SO is INR 23,700-980 (7)-30,560-1145 (2)-32,850-1310 (7)-42,020.

Q: What is the gross salary of IBPS SO?

A: The gross salary of IBPS SO is INR 38,000 to INR 39,000.

Q: What is the in-hand salary of IBPS SO?

A: The in-hand salary of IBPS SO is INR 33,000 to Rs 35,000.

Q: What are the allowances provided to IBPS SO?

A: The allowances provided to IBPS SO are Leave Policy, Leave Travel Allowance, Holiday Homes, Conveyance allowance, Newspaper allowance, Medical allowance, Entertainment allowance, House and furniture allowance, etc.

Q: How much compensation does an IBPS SO officer receive?

A: The IBPS SO officers receive compensation of INR 7.55 lakh to INR 12.93 lakh. It may vary depending on the place of posting and other factors.

Q: Which are the posts under IBPS SO?

A: IBPS SO includes posts such as IT Officer (Scale I), Agricultural Field Officer (Scale I), Rajbhasha Adhikari (Scale I), Law Officer (Scale I), HR/Personnel Officer (Scale I) and Marketing Officer (Scale I).

Q: How much HRA is given to IBPS SO?

A: The HRA depends on the place of posting. It is between 7 per cent to 9 per cent of the basic salary.

Q: How many vacancies have been announced for IBPS SO?

A: A total of 1,828 vacancies have been announced for the IBPS SO exam.

Q: Which one is better IBPS SO or SBI SO?

A: The IBPS SO and the SBI SO posts are similar. The responsibilities and job profiles are also the same. The only difference is between the IBPS SO salary and the SBI SO salary.

Q: Is there interview in IBPS SO exam?

A: Yes, there is an interview in IBPS SO exam. The marks of the interview are counted for the final merit list.