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Being there in the chair of a Probationary Officer (PO) in a public sector bank for handling the managing affairs is not just a job that can be carried out easily. The responsibilities and the power of the job are difficult and that’s why the salary and benefits are high. PO/MT is one of the exams conducted by IBPS, which has the highest remunerations in public sector banks. Are you an aspirant who is dreaming to crack the IBPS PO exam 2023? Institute of Banking Personnel (IBPS) is to publish notifications for the PO exam 2022 to various public sector banks. Here let us go through the IBPS PO Salary 2023 – PO Salary Structure and check the details accordingly. You must take into consideration checking out the details related to the IBPS PO exams date 2023 and start preparing for your entrance examination because there will be a tough competition for all of the people this year.
IBPS PO Salary: Overview
The salary structure of IBPS PO is predetermined as per the 11 Bipartite settlement. The candidates can get a snapshot of IBPS PO Salary 2023.
|IBPS PO Salary 2023 Overview|
|Organization||Institute of Banking Personnel Selection|
|Exam Name||IBPS PO Exam 2023|
|Vacancy||To Be Notified|
|IBPS PO Salary||Rs. 58,271.55|
|Job Location||All across India|
|Allowances||Dearness Allowance, House Rent Allowance, Special Allowance, Transport Allowance|
IBPS PO 2023 Salary Structure
The probationary officer is one of the most demanding jobs among the candidates as it offers a great step to make a prestigious career growth. It starts with the position of officer scale 1 with a good salary package. The basic pay of an IBPS PO is Rs 23,700/- and the gross income of a PO is about Rs 36, 570/- along with basic salary, a PO post salary includes other perks and benefits. IBPS PO salary in hand is always changing. IBPS PO in hand salary can be checked accordingly from the official website of the organization and then you can apply for the entrance examination by filling out the application form available at the official website. Given below we are sharing the IBPS PO starting salary and IBPS PO salary after 5 years.
|IBPS PO Salary Structure 2023|
|Basic Pay||Rs. 36,000|
|Special Allowance||Rs. 5904|
|Dearness Allowance||Rs. 9424|
|Other DA||Rs. 1702.75|
|Learning Allowance||Rs. 600|
|House Rent Allowance||Rs. 3200|
|CCA/LOC A||Rs. 1400|
|Gross salary with HRA||Rs. 58,271.55|
IBPS PO 2023 Inhand Salary
The probationary officer is responsible for approaching new business opportunities to the branch of the bank in which he or she is working and is also responsible for the daily transaction activities and the activities related to the loans that the banks are giving to the consumers. You must check out the IBPS PO job profile 2023 to be sure of the roles and duties of the person. The salary of IBPS PO in hand is around Rupees 50000 to Rupees 55000 with the allowances available to the Employees and gross salary will be around 57000, after the deduction, the salary will come down to Rupees 55000.
IBPS PO Salary in India after the Bipartite Settlement
Bank PO salaries revision takes place on the basis of bipartite settlement. As for the IBPS PO salary 2023, the salary shall be decided based on the Bipartite settlement.
The IBPS PO salary based on the 2023 notification is as mentioned below:
|IBPS PO Salary structure in India|
|IBPS PO Salary in India- Basic Pay||Rs 23700/- ( Increment in 4 stages-
Salary after 1st Increment- Rs. 30560/-
Salary after 2nd Increment-Rs. 32850/-
Salary after 3rd Increment- Rs. 42020/-
|Dearness Allowance||40% of the basic pay(Varies based on inflation rates)|
|City Compensatory Allowance(CCA)||3% or 4%(depending on the place of posting)|
|House Rent Allowances||7%-9% of the basic pay|
|Special Allowance||7.75% of the basic pay|
IBPS PO Salary Slip 2023
You can check out the details related to the salary slip for probationary officers in the Institute of Banking personnel selection. The salary slip includes the details related to the basic pay and all of the other allowances available to the Employees. The salary slip will have important specifications related to the Tax that is detected and also the total deductions and the gross salary will be mentioned at the end of this slip. Given below we have here the specimen of the salary step available to the Employees.
There are a lot of different allowances which are available for the people who will be selected as probationary officers in the Institute of Banking personnel selection however to get all of the benefits you will have to work hard and prove yourself to your officials. The different types of allowances are available so that the employees get proper house renting funds and other special allowances are also available for the children and the family of the employee so that they do not have any type of problem if they are shifting from one place to another. Given below we are sharing some of the special allowances provided to the people who will be selected by the authorities for this vacancy.
Allowances and Benefits
|Dearness Allowances||Rs. 8,593.20|
|House Rent Allowances (HRA)||Rs. 3,240|
|Special Allowances||Rs. 5,904|
|City Compensatory Allowances (CCA)||Rs. 1,400|
|Provident Fund (PF) Contribution||Rs. 1,552.50|
IBPS PO 2023 Promotions
The probation period, which is the time you’ll be a PO, is also called the training period. It’s like how in school you are forced to learn all subjects even if you won’t be using some of them later but it’s there to show you a little about it and show you the scope on that subject. Similarly, as a PO, you will learn the fundamentals (like life skills/value education in school) of the jobs of a bank office. It will also give you a taste of the different posts available. After your probationary period, you will be put through a screening process.
- Junior Management Grade – Scale I: Probationary Officer
- Middle Management Grade – Scale II: Manager
- Middle Management Grade – Scale III: Senior Manager
- Senior Management Grade – Scale IV: Chief Manager
- Senior Management Grade Scale V: Assistant General Manager
- Top Management Grade Scale VI: Deputy General Manager
- Top Management Grade Scale VII: General Manager
- Executive Director (ED)
- Chairman and Managing Director (CMD)
Starting your career as PO is the best choice. It can surely give you highly respectful career growth. IBPS reported about 2917 vacancies in their participating banks for the year 2020. A probationary officer or rather we call it a PO officer is a highly sought job. The IBPS PO examination selection procedure 2023 will be tough due to the changing scenario of the society. Now we need equipped and skilled persons as PO in our banks since we expect a worst economic scenario in the near future. So, you have to prepare yourself according to the need of society and the future. You can check out the eligibility criteria and exam dates for IBPS PO in order to prepare for yourself accordingly. Entri is a learning platform that has video lessons and craft courses for the people preparing for various entrance examinations across the country. Enroll now and you will be eligible to get a chance to serve this organization.
Q 1. What is the basic pay of a Probationary Officer in the IBPS?
Ans. The basic pay of an employee joining any IBPS bank as a Probationary Officer is Rs.23,700. This gradually increases with the multiple increments over a period of time.
Q 2. Is the IBPS salary more than the salary for an Officer in RBI?
Ans. The IBPS PO salary is slightly less than the salary paid to a Grade B Officer in RBI. The overall perks and allowances are also almost the same for IBPS and RBI.
Q3. What is the basic pay as per IBPS PO Salary 2023?
Ans. The basic pay for a Bank PO is Rs. 36,000.