Those chosen for the IBPS PO post will be placed in the Junior Management Grade Scale I (JMGS-I) role. The initial salary for an IBPS PO is around Rs 36,000, plus additional allowances. On this website, applicants can check all the information regarding the IBPS PO Pay Scale. It guarantees they can ascertain whether the position satisfies their requirements.
According to the Bipartite Agreement that the Indian Banks’ Association and Bank Employees reached, IBPS PO pay is decided. The most recent, the 12th Bipartite Settlement, was approved on March 12, 2024, by both parties. This agreement stipulates that the Basic Pay of Bank PO will increase by 17%. In keeping with this, modifications will also be made to other compensatory elements.
IBPS PO Salary & Allowances – Highlights
| Organization Name | Institute of Banking Personnel Selection (IBPS) |
| Name of the Post | Probationary Officer (Bank PO) |
| Basic Pay | Rs 36000 (per month) |
| Allowances | DA, HRA, CCA, LTC, etc |
| Official Portal | www.ibps.in |
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IBPS Probationary Officer Salary Structure
Various components that reduce or increase the overall amount make up the pay package for IBPS PO. This compensation structure includes many specifics, including basic pay, Special Allowance, Learning Allowance, House Rent Allowance, Dearness Allowance (DA), and City Compensatory Allowance (CCA), among others. For a detailed overview, see the following table.
| Particulars | Actuals (INR) |
|---|---|
| Basic pay | 36, 000 |
| HRA | 3240 |
| DA | 8593 |
| Special Allowance | 5904 |
| CCA/LOC A | 1400 |
| DA others | 1552 |
| Learning Allowance | 600 |
| NPS Contribution | -4459 |
| Professional Tax | -200 |
| Gross Salary | 52630 |
| In-Hand Salary | 52630 |
IBPS PO Promotion Opportunities
The Ministry of Finance, Government of India, issues uniform guidelines that the public sector banks adhere to when it comes to promotion policy matters. The following lists the advancement levels for an IBPS PO.
- Probation officers, often known as JMGS I (Junior Management Grade Scale I),
- Middle Management Grade Scale 2 for Middle Managers and Middle Management
- Grade Scale 3 for Senior Managers
- Grade Scale 4: Chief Manager – Senior Management
- Grade Scale 5 for Senior Management Assistant General Manager
- Grade Scale 6 for Top Management Deputy General Manager
- Executive Director, Chairman, and Managing Director, General Manager, Top Management Grade Scale 7
IBPS PO Job Profile
The primary duties of a Probationary Officer (PO) at the Institute of Banking Personnel Selection (IBPS) include a broad variety of duties necessary for effective bank administration. During their initial training session, POs are equipped to manage a variety of banking activities, such as managing revenue and billing, accounting, investing, and finance, among others. Apart from overseeing the branch’s operations and ensuring seamless functioning, they play a crucial role in addressing and resolving client issues. Additionally, they are accountable for the following duties:
- Bringing in new customers.
- Overseeing daily operations and financing processes.
- Preserving positive ties with the bank’s clients.
- Be professional in handling any complaints or issues you have with the higher authorities.
IBPS PO Allowances & Perks
Candidates would receive various advantages in addition to their IBPS PO remuneration. The IBPS PO salary is totaled up by these allowances. The following benefits are available to candidates:
- Assisting with Dearness
- Extra Compensation
- HRC
- Payroll Deduction for City
- Rentable Space
- Travel stipend
- payment for newspapers
- Emergency Medical Assistance
FAQs
Q: How much does a PO in the IBPS make base pay?
Ans: The starting pay for an IBPS PO is Rs. 36,000. Refer to the aforementioned article for additional information regarding IBPS PO Salary 2024.