IBPS PO Salary 2018, Latest Allowance, Promotion, Job Profile

IBPS PO Salary 2018, Latest Allowance, Promotion, Job Profile

Due to attractive and impressive salary in IBPS PO Salary 2018 banking sector, each youth has dream to urge job in banking sector. We are describing IBPS PO Salary 2018 briefly as there’s increment in IBPS PO salary 2018. IBPS provides allowances to its staff such as Dearness Allowance, House Rent Allowance, Medical Allowance, and Transport Allowance additionally to basic pay Scale after Revision.

It is a hottest question among all of the banking aspirants who are getting ready for IBPS PO examination. Excellent news for all of you that department goes to enhance IBPS provisional officer wage scale from this year.

IBPS PO Salary 2018 Structure:

Monthly Salary Yearly Salary
Basic Pay 23,700 2,84,400
Special Allowance 1836.75 22041
DA 10,700 1,28,399
CCA 870 10440
Transport Allowance 0 0
Total (without HRA)  37,107
HRA 2133 25596
Gross with HRA 39,240
Medical Aid 8000
Entertainment 500 6000
Newspaper 300 3600
Petrol 3000 36000
Telephone 400 4800
Canteen Subsidy 400 4800
Pension Contribution 2500 30000
Gross Annual CTC (with HRA but without leased accommodation) 5,64,076

IBPS Bank PO Salary and Allowances:

Dearness Allowance (DA): Dearness Allowance is price of living adjustment allowance. It’s given in all govt. and public sector Probationary Officers. This allowance is revised once 3 months and based on consumer price level.
HRA: House Rent Allowance depends on place of posting SO it is either 9.0% or 8.0% or 7.0%. 10 HRA is given metro cities, 9-11 for population more than of twelve lakhs , for the population quite of five lakhs 7.5% and seven trying to find alternative cities.
CCA: City Compensatory Allowance is additionally based on place of posting. It is either four percent (maximum Rs. 870/-) or three percent (Maximum Rs. 600/-) or zero.

IBPS PO Pay Scale in Metro Cities 2018:

Basic Pay Rs. 14500/-
Dearness Allowance @99.9% Rs. 14485.5/-
CCA (3% to 4% Max. Rs540/-) Rs. 540.00/-
Total Remuneration (Excluding HRA) Rs. 29525.5/-
HRA 8.5%; 7.5%; 6.5%* Rs. 1232.50/-
Total Salary (Including HRA) Rs. 30758/-

IBPS PO Pay Scale in State Capital:

Basic Pay Rs. 14500/-
Dearness Allowance @99.9% Rs. 14485.5/-
CCA (3% to 4% Max. Rs540/-) Rs. 375.00/-
Total Remuneration (Excluding HRA) Rs. 29360.5/-
HRA 8.5%; 7.5%; 6.5%* Rs. 1087.50/-
Total Remuneration (Including HRA) Rs. 30448/-

IBPS PO Pay Scale in District Level and Rural Level:

Basic Pay Rs. 14500/-
Dearness Allowance @99.9% Rs. 14485.5/-
CCA (3% to 4% Max. Rs540/-) Rs. 0.00/-
Total Pay (Excluding HRA) Rs. 28985.5/-
HRA 8.5%; 7.5%; 6.5%* Rs. 942.50/-
Total Salary (Including HRA) Rs. 29927/-

Salary After 7th Pay Commission:

It is not mandatory that after seventh pay commission salary of all IBPS PO Officer are increased.
Each and every Bank having completely different rules for an increment of salaries of Probationary Officer.
Chairman of Indian Banks’ Association conjointly declared that there’s no impact of seventh Pay Commission on pay of Probationary Officer.

IBPS PO Salary after 10th Bipartite Settlement:

Increment (Percentage) % Basic Pay Gross Pay
15 % Rs. 26,706/- Rs. 37,068/-
20 % Rs. 27,866/- Rs. 38678/-
25 % Rs. 29,026/- Rs. 40,288/-
30 % Rs. 30,187/- Rs. 41,899/-

Revised Salary after 10th Bipartite Settlement:

If Indian Bank Association agrees for 20% increment, Final Basic Pay are Rs.27, 866. So, total Gross salary of Bank fresher Probationary Officer (PO) are Rs.38, 678/- (Worst Attainable Scenario)
If Indian Bank Association agrees for 25% increment, Final Basic Pay are Rs.29,026. So, total Gross earnings of Bank fresher Probationary Officer (PO) are Rs.40,288/- (Somewhat Good)

IBPS PO Salary After 11th Bipartite Settlement:

Increment (Percentage) % Gross Salary Basic Pay
15 % Rs.37,068/- Rs.26,706/-
20 % Rs.38678/- Rs.27,866/-
25 % Rs.40,288/- Rs.29,026/-
30 % Rs.41,899/- Rs.30,187/-

IBPS PO Career Progression with Salary:

Posts Name         Amount
Junior Management Grade – Scale I: Officer i.e. PO Rs. 23700 – 42020/-
Middle Management Grade – Scale II: Manager Rs. 31705 – 45950/-
Middle Management Grade – Scale III: Senior Manager Rs. 42020 – 51490/-
Senior Management Grade – Scale IV: Chief Manager Rs. 50030 – 59170/-
Senior Management Grade Scale V: Assistant General Manager Rs. 59170 – 66070/-
Top Management Grade Scale VI: Deputy General Manager Rs. 68680 – 76520/-
Top Management Grade Scale VII: General Manager Rs. 76520 – 85000/-
Chairperson and Managing Director (CMD) Approx 2 + lack
Executive Director (ED) Approx 1.5 + lack

IBPS PO Pay Scale on Promotion:

Scale I – 23700/- 980/ – 30560/- 1145/- 32850/- 1310/- 42020/-
Scale II – 31705/- 1145/ – 32850/- 1310/- 45950/-
Scale III – 42020/- 1310/ – 48570/- 1460/- 51490/-
Scale IV – 50030/- 1460/ – 55870/- 1650/- 59170/-
Scale V – 59170/- 1650/ – 62470/- 1800/- 66070/-
Scale VI – 68680/- 1960/ – 76520/-
Scale VII – 76520/- 2120/ – 85000/-

Promotions:

Public sector banks have well-defined career choices for all officers. maybe your performance plays a major role in career progression. Most of the senior officers were beginning their career from Scale I.
As I said earlier, that hardworking and knowledgeable staff are allotted on a higher scale during a short period.
At that time executive director or Chairman of a bank. These are the topmost high scale positions of the bank which can be determined by the govt.
In Public sector banks, you will get an opportunity to work in abroad additionally. several of banks have their branches out of the country conjointly.

SBI PO VS IBPS PO Salary:

Salary Structure Pay scale of SBI Pay scale in IBPS
Basic Pay INR 27620 INR 23700
Annual Increment INR 980 for 7 years INR 980 for 7 years
City Compensatory Allowance @4%, 3% or 0% (Depends on the place of posting) @4%, 3% or 0% (Depends on the place of posting)
Special Allowance @ rate of  7.75% 7.75% of the Basic Pay
House Rent Allowance Depends on place of posting 9%, 8% or 7% (Depends on the place of posting)

Other benefits accessible to IBPS PO:

Bank provides some primary, and general perks are mention here check details. (Note – As per rating of perks offered by banks, SBI is no. One bank in India which supplies additional benefits and facilities to their staff comparing to different nationalized banks.)

Leased Accommodation: This service is offered to Bank officers rather than HRA. It conjointly varies from bank to bank and depends on upon the place of posting. Some banks might provide official bank accommodation/ bank quarters rather than leased housing.

Travelling Allowance: Most of the banks provides a fixed Traveling Allowance and reimbursement of fuel bills.
Medical Aid: An quantity conjointly attached to your medical needs (Revised value is Rs8000/- p.a.)

Newspaper Reimbursement: A fixed monthly amount is pay towards the price of 1 newspaper. Coverage beneath New Pension scheme

Aftab Dawa

Founder & Developer at IBPSCLERK. I am a 20-year-old guy from Mumbai (Maharashtra) currently doing Software Engineering. I love helping people and providing free education. Official Website http://www.aftabdawa.com. You may join me on Facebook.

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