The basic pay for IBPS Probationary Officers (PO) in 2024 is Rs. 36,000, with a gross salary of Rs. 57,289 and a net salary of Rs. 52,630 after deductions. IBPS PO Salary Structure explained below.
Every year, the IBPS conducts exams for people who want to become Probationary Bank officers in different banks. These banks include well-known ones like PNB, Canara Bank, BOI, Union Bank, Punjab and Sind Bank, BOB, and more. If you want to work in a bank, it’s important to know how much money you will make as an IBPS PO in these banks. The starting salary for an IBPS PO is between Rs. 52,000-55,000 per month. You can find more details about the salary in the information below, including the IBPS PO Salary slip.
IBPS PO Salary 2024
The IBPS provides information about the salary and benefits for the IBPS PO exam in their official notification. According to the official data, an IBPS PO receives a good salary and many perks and benefits, which attracts people who want a government job. The salary for IBPS PO in 2024 is Rs. 36,000 as the basic pay, with a gross salary of Rs. 58,271.55 and a net salary of Rs. 53,519.07 after deductions. You can find more details about the IBPS PO salary, job profile, career growth, and promotion policy in the official notification.
IBPS PO Salary Structure 2024
The salary of an IBPS Probationary Officer is made up of different parts. The basic pay is Rs. 36,000. There are also special allowances, dearness allowances, city compensatory allowances, house rent allowance, learning allowance, and other allowances. After deducting Union Subscription and Membership charges, the net salary is Rs. 52,519.07.
| Type of Pay/Allowance | Amount |
| Basic Pay | Rs 36,000/- |
| Special Allowances | Rs. 5,904 |
| Dearness Allowances | Rs. 9424 |
| City Compensatory Allowances | Rs. 1,400 |
| House Rent Allowance | Rs. 3,200 |
| Learning Allowance | Rs. 600 |
| Other Allowances | Rs, 1702.75 |
| Gross with HRA | Rs 57,271.55/- |
| Deduction | Rs. 4,752.48 |
| Net Salary | Rs. 52,519.07/- |
IBPS PO Salary in Hand 2024
The IBPS PO Salary is the amount of money you get after adding extra money and taking away money that needs to be paid. After doing all the calculations, the IBPS PO Salary per month is Rs. 52,519.07/-. This amount includes the extra money mentioned earlier. If you want to know how much extra money is added to the basic salary of Rs. 36,000/-, you can look at the table below.
| Allowance | Description |
| House Rent Allowance (HRA) | Calculated based on place of posting: 9.0% in metros, 8.0% in big cities, and 7.0% in other locations. |
| Dearness Allowance (DA) | Approximately 36.8% of the basic salary, is revised every three months based on All India Consumer Price Index data. |
| Special Allowance (SA) | Introduced on 01.01.2016, approximately 7.75% of basic pay. |
| City Compensatory Allowance | Varies based on city type: 0% in some cities, 3% or 4% in others. |
IBPS PO Salary Slip
If you want to see how much money IBPS PO candidates make, you can look at the salary slip below. It shows how much an employee in the IBPS PO position gets paid and breaks down the different parts of their salary.
| Parameter | Amount (INR) |
|---|---|
| Basic Pay | 36,000 |
| DA (23.87% of Basic Pay) | 8,593 |
| HRA (7%-9% of Basic Pay) | 3,240 |
| City Compensatory Allowance (CCA)/LOC A | 1,400 |
| Special Allowance | 5,904 |
| DA others | 1,552 |
| Learning Allowance | 600 |
| Professional Tax | 200 |
| Contribution to NPS | 4,459 |
| Gross Salary | 57,289 |
| NET Salary after deductions | 52,630 |
IBPS PO Perks And Allowances 2024
As mentioned before, it’s not only the salary that makes being an IBPS PO attractive, but also the additional benefits and bonuses. Here are the perks that an IBPS PO gets to enjoy:
- Leased Accommodation – This benefit is dependent upon the place of posting and is available to the bank officers. Some banks provide official bank accommodation/bank quarters instead of leased housing.
- Travelling Allowance – Most banks provide a fixed Traveling Allowance and reimbursement of petrol bills.
- Medical Aid – Revised price is Rs 8000/- p.a. This is the amount for the medical needs of the employee.
- Newspaper Reimbursement: A fixed monthly amount for newspaper service.
- Coverage under the New Pension Scheme
IBPS PO Job Profile
IBPS PO is a well-respected job in banking that offers many great benefits to employees. The Probationary Officer is trained in various tasks like finance, accounting, billing, investment, and revenue collection during their probation period to learn about how banking works.
- Resolving customer queries at the branch
- Maintaining and supervising regular branch activities
- Public relations and addressing issues and grievances of customers
- Directing daily transactions of customers and processing loan(s) detail
- Bringing new businesses to the bank branch
IBPS PO Salary, IBPS PO Promotion
The government of India sets rules for how public sector banks promote their employees, including those who are IBPS POs. Here are the different steps for getting promoted as an IBPS PO.
- JMGS I (Junior Management Grade Scale I) or probationary officers
- Middle Manager – Middle Management Grade Scale 2
- Senior Manager – Middle Management Grade Scale 3
- Chief Manager – Senior Management Grade Scale 4
- Assistant General Manager – Senior Management Grade Scale 5
- Deputy General Manager – Top Management Grade Scale 6
- General Manager – Top Management Grade Scale 7
- Executive Director
- Chairman and Managing Director
Participating Bank For IBPS PO
Here is a list of top banks in India that are monitored by the Reserve Bank of India. Working with these banks is a great chance to enter the financial industry in India.
| Banks Participating In IBPS PO |
|---|
| 1. Bank of Baroda |
| 2. Bank of India |
| 3. Bank of Maharashtra |
| 4 Canara Bank |
| 5. Central Bank of India |
| 6. Indian Bank |
| 7. Indian Overseas Bank |
| 8. Punjab National Bank |
| 9. Punjab & Sind Bank |
| 10. UCO Bank |
| 11. Union Bank of India |