IBPS PO Salary 2019

IBPS PO Salary: Bank PO candidates are always curious to know the salary of Bank PO, its allowances, career growth, perks and promotion policy. Read further to know about Salary, Job Profile, Career Growth and Promotion Policy of an IBPS PO. Here, we will also learn what might be the salary of an IBPS PO after 2 years and 7 years. IBPS PO is one of the most talked about competitive exams amongst the graduates. Along with IBPS PO Preparation, candidates are curious to know the salary and the increment in salary after 7th pay commission. so, first of all, you need to understand that the salary of bank employees is not revised by 7th pay commission.

Bank employees salaries revision takes place on the basis of bipartite settlement. So, for IBPS PO 2019, salary will be decided on the basis of 10th Bipartite Agreement. So, the revised IBPS PO Salary 2019 will be effective from 1st January 2016.

IBPS PO Salary

There are different components in the salary structure, lets discuss each component one by one:

IBPS PO Basic Pay: The revised basic IBPS PO salary structure (as per 10th Bipartite settlement) is rupees 23700 - (980 x 7) - 30560 - (1145 x 2) - 32850 - (1310 x 7) – 42020. It means Basic Salary of IBPS PO after 7 Years - Rs 30,560 Basic Salary of IBPS PO after 7 + 2 Years - Rs 32,850 Basic Salary of IBPS PO after 7 + 2 + 7 Years - Rs 42,020

ibps-po-mock-test

IBPS PO House Rent Allowance (HRA): It varies according to place of posting and can be 9.0% or 8.0% or 7.0% of the basic salary depending upon type of cities (i.e., metros, big cities or other locations).

IBPS PO Dearness Allowance (DA): Dearness Allowance (DA) is given to the employees as a percentage of the basic salary (In January 2016, it was around 39.8% of the basic salary). This is revised every three months based on the All India Consumer Price Index Data published by the Ministry of Statistics and Program Implementation, Government of India. The Bank unions are determined to make it a monthly revision in the impending wage settlement.

IBPS PO Special Allowance (SA): This allowance has been included in the last wage revision for the banks. It is about 7.75% of the basic pay. It came into effect from 01.01.2016.

IBPS PO City Compensatory allowance: Based on the type of city, it might be 0%, 3% or 4%.

Some other perks of an IBPS Probationary Officer are Traveling Allowance, Newspaper Reimbursement, Medical Aid, Benefits under New Pension Scheme etc. If we sum up then the salary may be 35,000+ rupees.

Promotion Policy of an IBPS PO

Most of the public sector banks follow uniform guidelines issued by the Ministry of Finance, Government of India, regarding promotion policy matters. The public sector banks follow two channels in case of promotion i.e. the merit channel and the normal channel. You can learn about the complete details from the link given below:

Promotional Channels for PO in Public Sector Banks

Career Growth of an IBPS PO The salary of Officer JMGS I (Junior Management Grade Scale I) or probationary officers in banks ranges from Rs. 23700 to Rs. 42020.

For other Scale officers:

MMGS II (Middle Management Grade Scale II): The salary ranges from 31705 to 45950.

MMGS II (Middle Management Grade Scale III): The salary ranges from 42020 to 51490.

SMGS IV (Senior Management Grade Scale IV): The salary ranges from 50030 to 59170.

SMGS V (Senior Management Grade Scale V): The salary ranges from 59170 to 66070.

The entry-level basic pay is higher in SBI as compared to other nationalized banks. The starting basic pay is Rs 27620 with four advance increments in the pay scale of 23700-980 (7) – 30560 – 1145 (2) – 32850 – 1310 (7) – 42020.

Click Here to View IBPS PO 2019-20 Official Notification

IBPS PO 2019 Syllabus & Exam Pattern [Check Here]

IBPS PO Previous Years Cut-Offs [Check Here]

Click Here to View IBPS 2019-20 Exam Calendar

IBPS PO Salary 2019

IBPS PO Salary: Bank PO candidates are always curious to know the salary of Bank PO, its allowances, career growth, perks and promotion policy. Read further to know about Salary, Job Profile, Career Growth and Promotion Policy of an IBPS PO. Here, we will also learn what might be the salary of an IBPS PO after 2 years and 7 years. IBPS PO is one of the most talked about competitive exams amongst the graduates. Along with IBPS PO Preparation, candidates are curious to know the salary and the increment in salary after 7th pay commission. so, first of all, you need to understand that the salary of bank employees is not revised by 7th pay commission.

Bank employees salaries revision takes place on the basis of bipartite settlement. So, for IBPS PO 2019, salary will be decided on the basis of 10th Bipartite Agreement. So, the revised IBPS PO Salary 2019 will be effective from 1st January 2016.

IBPS PO Salary

There are different components in the salary structure, lets discuss each component one by one:

IBPS PO Basic Pay: The revised basic IBPS PO salary structure (as per 10th Bipartite settlement) is rupees 23700 - (980 x 7) - 30560 - (1145 x 2) - 32850 - (1310 x 7) – 42020. It means Basic Salary of IBPS PO after 7 Years - Rs 30,560 Basic Salary of IBPS PO after 7 + 2 Years - Rs 32,850 Basic Salary of IBPS PO after 7 + 2 + 7 Years - Rs 42,020

ibps-po-mock-test

IBPS PO House Rent Allowance (HRA): It varies according to place of posting and can be 9.0% or 8.0% or 7.0% of the basic salary depending upon type of cities (i.e., metros, big cities or other locations).

IBPS PO Dearness Allowance (DA): Dearness Allowance (DA) is given to the employees as a percentage of the basic salary (In January 2016, it was around 39.8% of the basic salary). This is revised every three months based on the All India Consumer Price Index Data published by the Ministry of Statistics and Program Implementation, Government of India. The Bank unions are determined to make it a monthly revision in the impending wage settlement.

IBPS PO Special Allowance (SA): This allowance has been included in the last wage revision for the banks. It is about 7.75% of the basic pay. It came into effect from 01.01.2016.

IBPS PO City Compensatory allowance: Based on the type of city, it might be 0%, 3% or 4%.

Some other perks of an IBPS Probationary Officer are Traveling Allowance, Newspaper Reimbursement, Medical Aid, Benefits under New Pension Scheme etc. If we sum up then the salary may be 35,000+ rupees.

Promotion Policy of an IBPS PO

Most of the public sector banks follow uniform guidelines issued by the Ministry of Finance, Government of India, regarding promotion policy matters. The public sector banks follow two channels in case of promotion i.e. the merit channel and the normal channel. You can learn about the complete details from the link given below:

Promotional Channels for PO in Public Sector Banks

Career Growth of an IBPS PO The salary of Officer JMGS I (Junior Management Grade Scale I) or probationary officers in banks ranges from Rs. 23700 to Rs. 42020.

For other Scale officers:

MMGS II (Middle Management Grade Scale II): The salary ranges from 31705 to 45950.

MMGS II (Middle Management Grade Scale III): The salary ranges from 42020 to 51490.

SMGS IV (Senior Management Grade Scale IV): The salary ranges from 50030 to 59170.

SMGS V (Senior Management Grade Scale V): The salary ranges from 59170 to 66070.

The entry-level basic pay is higher in SBI as compared to other nationalized banks. The starting basic pay is Rs 27620 with four advance increments in the pay scale of 23700-980 (7) – 30560 – 1145 (2) – 32850 – 1310 (7) – 42020.

Click Here to View IBPS PO 2019-20 Official Notification

IBPS PO 2019 Syllabus & Exam Pattern [Check Here]

IBPS PO Previous Years Cut-Offs [Check Here]

Click Here to View IBPS 2019-20 Exam Calendar