IBPS PO Salary – Pay Scale, Promotion, Job Profile

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The public sector banks in India provide very good IBPS PO salary packages to scale 1 officers, also known as probationary officers (POs). The Institute of Banking Personnel Selection has announced 6432 vacancies for IBPS PO 2022 recruitment. The IBPS PO exam is being conducted by 11 banks. Apart from a lucrative salary, public sector banks are known for providing good growth opportunities. Probationary Officers in banks earn a very good salary, making this position the most lucrative. Because of the salary and social prestige it provides, the IBPS PO exam is one of the most sought-after exams in the country. In 2020, the 11th Bipartite Agreement determined the IBPS PO salary for 2022. Aside from a competitive salary, candidates chosen for the position will receive a variety of allowances and benefits. Read on to learn more about the IBPS PO 2022 salary, pay scale, promotion policy, and job profile.

IBPS PO Salary – Pay Scale

The IBPS PO exam brings with it a good salary structure that contains different components, including basic pay, increments, allowances, and perks. Below are the in-hand salary, pay scale, and allowances of IBPS POs:

IBPS PO 2022 – Salary Structure
IBPS PO Basic Pay	Rs 36000/- (Increment in 4 stages)	Rs 36,000-(980/7) – Rs 42,860-(1145/2) – Rs 45,150-(1310/7)- Rs 54,320
Dearness Allowance	40% of the basic pay (Varies according to the inflation rates)	Rs. 8,593.20
City Compensatory Allowance (CCA)	3% or 4% (depending on the place of posting)	Rs. 1,400
House Rent Allowances (HRA)	7% to 9% of the basic pay	Rs. 3,240
Special Allowance	7.75% of the basic pay	Rs. 5,904

Additional Perks after clearance of IBPS PO exam

Candidates are also provided with lease housing, a travel allowance, newspaper reimbursement, medical care, and benefits under the New Pension Scheme.

1. Rental Accommodation

This service is available to POs on-site. Most banks provide leased accommodation in the form of Official Bank Accommodation/Bank Quarter. This sum isn’t available as a cash component and must be paid directly to the house owner.

2. Travel Allowance

Some banks provide a fixed Travel Allowance, whereas others allow reimbursement of gas bills, implying that bank officers must own a scooter/car at the location of posting.

3. NPS Advantages

10% of the basic pay plus DA is deducted.

4. Medical Assistance

Most banks pay a fixed annual amount (the revised amount is Rs 8000/- per annum).

IBPS PO Salary – Promotion

In the banking industry, IBPS Bank POs are Junior Management Grade Scale I (JMGS I) officers. The position provides an honest career advancement in terms of position as well as salary. They are promoted either through seniority or by passing the bank’s departmental exams. Work performance and dedication are critical for advancement. POs are promoted on a regular basis in accordance with bank policy, and their skills are also regularly updated. In terms of promotion policy, the majority of public sector banks adhere to uniform guidelines issued by the Ministry of Finance, Government of India. In terms of promotion, public sector banks have two options: the merit channel and the normal channel. The various promotion-related posts are listed below-

Middle Manager	Middle Management Grade Scale 2
Senior Manager	Middle Management Grade Scale 3
Chief Manager	Senior Management Grade Scale 4
Assistant General Manager	Senior Management Grade Scale 5
deputy General Manager	Top Management Grade Scale 6
General Manager	Top Management Grade Scale 7
Executive Director
Chairman and Managing Director

IBPS PO Salary – Job Profile

A PO’s job is one of responsibility and precision. They are in charge of the day-to-day operations of banks as well as customer support. They are frequently tasked with dealing with complex banking situations, such as granting loans or addressing customer needs. The detailed job description for the PO is provided below.

Supervise and regulate day-to-day branch activities such as accounting, finance, billing, revenue collection, etc.
Verify several documents and proofs submitted by customers
Oversee public relations and bring new business opportunities to the bank
Address customer related issues and grievances
Handle loans related queries and activities
Monitor daily transactions of branch and customers
Multitask and verify the work done by clerks whenever required
Being aware of the policies and decisions made by the management to implement them for smooth functioning of the branch