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Economists, Statisticians, Risk Managers, Credit Analysts, Credit Officers, Tech appraisals, IT officers – Data centres, Managers, and Senior Managers are among the 696 positions open at the Bank of India (BOI). The remaining 102 employees will be hired on a contract basis, with 594 being hired on a permanent basis. On April 26th, 2022, the BOI Online Application Link will be released, and it will be available until May 10th, 2022. Interested candidates should go to the bank’s official website to apply.
|Organization organising exam||Bank of India (BOI)|
|Post name||Specialist Officer (SO)|
|Recruitment name||BOI Recruitment 2022|
|Vacancies as per given in the notification||696|
|The application portal opens on||26th April 2022|
|Last Date to Apply by online mode||10th May 2022|
|Mode of application||Online|
|Location of job||All Over India|
|Category of job||Banking Job|
|Official Website of Bank of India||https://www.bankofindia.co.in/|
Apart from work stability, one of the reasons to select banking professions is the pay. The position of the specialised officer is one of the most coveted, with many aspirants taking the test each year. The specialised officer has a demanding job with room for promotion and a decent income Candidates can review the compensation structure, allowances, and job profile in this article.
Bank of India BOI Salary 2022 Structure
To understand more about the salary structure of Bank of India posts we have to learn about different salary scales first. Take a look at the following table for more information.
|Scale||Abbreviation||The scale of pay (in INR)|
|Junior Management Grade Scale – 1||JMGS 1||36000-1490/7-46430-1740/2-49910-1990/7-63840|
|Middle Management Grade Scale – 2||MMGS 2||48170-1740/1- 49910-1990/10-69810|
|Middle Management Grade Scale – 3||MMGS 3||63840-1990/5- 73790-2220/2-78230|
|Senior Management Grade Scale – 4||SMGS 4||76010-2220/4- 84890-2500/2-89890|
The above Basic Pay Scale is subject to changes in the Bank of India Officers’ Service Regulations, 1979, as necessary.
For the contract-based job positions, the salary structure is as shown in the following table.
|Scale||Payment in INR|
|MMGS-II||The incumbent would be paid a monthly consolidated salary of Rs.175,000/-, subject to deduction of relevant taxes.|
|MMGS-III||The incumbent would be paid a monthly consolidated salary of Rs.2,18,000/-, after deduction of relevant taxes.|
Bank of India BOI 2022 Inhand Salary
The in-hand salary might range from Rs. 36,000 to Rs. 89890. This depends on the post for which a candidate is selected.
Bank of India BOI 2022 Post Wise Salary
The salary given per the scale is listed in the tables above. This paragraph will give you an idea about the salary scales of different job positions open for recruitment as per the present year notification. The salary scales of the permanent posts are as shown below.
|Risk Manager||MMGS -III|
|Credit Analyst||SMGS -IV|
|IT Officer – Data Centre||JMGS-I|
The salary scale of contract-based posts is as shown in the following list.
|Manager IT||MMGS -II|
|Senior Manager IT||MMGS -III|
|Manager IT (Data Centre)||MMGS -II|
|Senior Manager IT (Data Centre)||MMGS -III|
|Senior Manager (Network Security)||MMGS-III|
|Senior Manager (Network Routing & Switching Specialists)||MMGS-III|
|Manager (Endpoint Security)||MMGS-II|
|Manager (Data Centre) – System Administrator Solaris/Unix||MMGS-II|
|Manager (Data Centre) – System Administrator Windows||MMGS-II|
|Manager (Data Centre) – Cloud Virtualization||MMGS-II|
|Manager (Data Centre) – Storage & Backup Technologies||MMGS-II|
|Manager (Data Centre – Network Virtualization on SDN-Cisco ACI)||MMGS-II|
|Manager (Database Expert)||MMGS-II|
|Manager (Technology Architect)||MMGS-II|
|Manager (Application Architect)||MMGS-II|
Bank of India BOI Salary 2022 Allowances
Bank of India gives regular or permanent SO post employees certain allowances and benefits such as:
- Dearness Allowance
- House Rent Allowance
- Transport Allowance
- Newspaper Reimbursement
- Hospital Bills Reimbursement
- Petrol Allowance
- PF Allowance
But in the case of contract-based employees, other allowances or benefits are not available to the incumbent. In the event of outstation responsibilities, the incumbent will be entitled to travel and stopping allowances at the same rate as Bank Officers in the same Scale.
Bank of India BOI Salary 2022 Promotions
The information on the work profile of different posts will be given to the candidate in later stages of the selection process.
Specialist officers are offered several possibilities to further their careers based on their achievements. The following is the hierarchy that is followed at the time of promotion.
|No.||Post grade||Scale||Post name|
|1||Junior Management Grade||1||Assistant Manager|
|2||Middle Management Grade||2||Manager|
|3||Middle Management Grade||3||Senior Manager|
|4||Senior Management Grade||4||Chief Manager|
|5||Senior Management Grade||5||Assistant General Manager|
|6||Top Management Grade||6||Deputy General Manager|
|7||Top Management Grade||7||General Manager|
It is essential to understand the selection process, syllabus and exam pattern to perform well in a competitive exam. But knowing more about the salary, other allowances, work profile and promotion opportunities will help you to decide which job position they should apply for. Having more knowledge about your duties and responsibilities as well as your reward will help you decide whether you are good for that job post. The aim of the above article was to make the aspirants of Bank of India BOI 2022 SO recruitment drive about the essential features discussed above. Download the Entri app to help you prepare for nationwide competitive exams as well as state-based competitive exams.