The State Bank of India offers very good career growth opportunities through SBI PO RECRUITMENT. Career growth in terms of designation, salary, and other allowances is the most important for every employee. It will motivate their work and trigger their spirit towards achieving their goals. SBI going to conduct PO recruitment drive to hire candidates in various branches throughout India. SBI always provided a lucrative salary and other emoluments to their employees. Hence the SBI PO recruitment always grabs the attention of the candidates who want to become the banking authority. So the candidates know about the SBI PO in-hand salary and other related details.
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SBI PO Job Profile
Let us now understand what exactly does an SBI Probationary Officer do?
- After joining, SBI PO is subject to a probation period of 2 years. In this period of time, they learn more about the functioning of the banks and duties related to their profile.
- Common tasks of a probationary officer may include – Gaining practical knowledge of various banking aspects, Customer Services (which may range from passbook printing to account opening and much more), supervision of clerical work, Loan Processing, etc.
- Training to the SBI PO is provided in various fields like – Retail (Personal) Banking, Advances, Rural Banking (Agriculture training), etc. During their probation period.
- After the selection, SBI PO is directly sent to the branch allotted after meeting the RM of the circle. After reporting to the branch manager he learns the various aspect of daily banking profile.
- During the period of probation, specialized training is also given to the employees.
- After the probation period, SBI PO needs to undergo a screening procedure, qualifying which he/she will be confirmed as Officer Middle Management Grade Scale-II.
The job profile of SBI PO is highly versatile and may demand the officer to engage in clerical work according to the needs. All this should be taken in good spirits and must be seen as a great way to learn new things. Eventually, when you will have to take up a managerial profile, you can’t expect to pull it off properly unless you have a clear understanding of how things are done at the root level. So, think of it as the first step of the ladder which is essential to get to the next level.
SBI PO Salary Structure
SBI has revealed the basic pay for PO cadre employees in the official notification as Rs.27620/-. SBI PO employees will receive the starting pay with 4 advance increments in the scale of 23700-980/7-30560-1145/2-32850-1310/7-42020. Thus the SBI PO salary slip after 16 years will have a total pay of Rs.42020/-. Candidates those who appointed as the probationary officer can avail Dearness Allowance (DA), House Rent Allowance (HRA)/ Lease rental, City Compensatory Allowance (C.C.A), Medical and other allowances &advantages as per ordinance in force from time to time.
|Period||SBI PO Basic Salary||Increment|
|For first 7 years||23700||980|
|For next 2 years||30560||1145|
|Another 7 years||32850||1310|
Thus from the table given above the candidates will have periodic increments. Including all the remuneration and allowances, SBI PO employee will receive a minimum of Rs.8.20 Lakhs to a maximum of Rs.13.08 Lakhs as annual income depends on the posting area for Officer Scale 1 employees. The SBI Bank PO salary after 7th pay commission has a good hike.
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Here from the salary of SBI PO there are some deductions. Those deduction details are given below for your reference.
- PF (10% of Basic) = Rs. 2762
- NPS (10% of Basic + DA) = Rs. 4000
- Income Tax = as per government norms.
Take-Home Salary: According to the above earnings and deductions the take home SBI PO Salary is Rs. 40,000/- (Approximate).
The SBI also offers a SMART compensation package for the employees. Using this package you can monetize the several elements of the SBI PO salary amount.
Apart from the SBI PO Salary 2020, the perks are being offered to SBI Probationary Officer. There are also several benefits in various forms for the SBI PO. They are,
- Financial stability
- Job security
- Huge growth opportunities
- Can supervise various departments
- Work as a major decision-maker
- Social status
All these benefits will improve the standard of the employee in public society. Thus above the SBI PO in-hand salary and other allowances, candidates aim this job due to this prestigious status.
SBI PO Career Growth & Promotion
SBI offers immense growth opportunities. The promotion cycle in SBI is pretty fast and one can even reach up to the level of chairman of the group. A perfect example for this would be the previous Chairperson of SBI, Mrs Arundhati Bhattacharya who started as a PO in SBI in 1977.
Promotions in SBI follow the undermentioned path –
- Probationary Officer (Assistant Manager, JMGS – I)
- Deputy Manager (MMGS)
- Manager (MMGS)
- Chief Manager (MMGS)
- Assistant General Manager (SMGS)
- Deputy General Manager (TEGS)
- Chief General Manager (TEGS)
- General Manager (TEGS)
- The promotion policy of SBI provides an opportunity for the meritorious and exceptionally brilliant officers to reach the Top Management Grade in a reasonably quick time.
- SBI also offers Foreign postings to selected officers based on their performances. It has over 190 foreign offices in 36 different countries.
After 2 years when you will secure a permanent PO position, you will undertake various job roles within the bank and outside as mentioned above. During your tenure as an SBI PO which can last up to 6-7 years, you can wear many hats within the bank and work with different departments closely. This role will also give you a chance to get close to the public as you will be directly interacting with them for various bank needs.
If the employee works hard to achieve organization goals, surely that organization will honor the work with promotion and all other benefits. So get promoted from your designation is on the hands of you, employees work will speak to the organization during the promotion period. So clinch your career growth by showing your hard work and loyalty to uplift the organizations growth.
SBI PO Career Growth Options
- SBI’s career development system helps over 200,000 employees keep a track of their performance and be dedicated to their career development goals.
- This drives transparency in performance evaluation and ensures the growth of high performers.
- The top-performing employees are groomed for leadership through special training programs in premier institutes like Harvard, ISB, IIMs, and Stanford.
- Although there are similar promotion channels for Probationary Officer in all banks, in SBI there is scope for faster promotions. This is because SBI is the largest bank in the country. Therefore it has a huge number of vacancies in all grades of its promotion channel. Hence an SBI PO can rise in the hierarchy much faster in comparison to Bank PO of other Banks.
- Promotion policy is more or less similar in all banks but due to its size and a large number of openings in all grades, promotions are faster in SBI.
Apart from faster promotions and career growth, SBI PO also gets opportunities for foreign postings. In SBI, officers are also being sent for foreign postings almost every year. The deserving employees get an opportunity for foreign posting and explore banking globally. SBI now have 190 foreign offices/branches and there are a lot of openings for foreign postings every year.
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Clearly, there are numerous reasons to join this reputed organization. It is the only bank from India under the Fortune 500 companies globally. SBI in itself is a huge brand and to be part of such an esteemed organization speaks volumes. So, start your SBI PO preparation now!
We hope the above-listed factors were motivating enough for you all to pull up you for this year’s SBI PO Exam.
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