IBPS Po Salary 2020: Allowances Promotion Policy of an IBPS Po

By | December 9, 2019

IBPS Po Salary 2020 Salary Structure, Allowances & Other Benefits 2020

IBPS Bank PO aspirants often ask questions about IBPS PO Salary. They also ask questions about career growth and promotion policy of a Probationary Officer working in a nationalized bank. In this article, we are going to learn 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

Many candidates also ask a specific question, “What will be the IBPS PO salary after 7th pay commission?

Such candidates need to understand that the salary of bank employees is not revised by 7th pay commission. In the public sector, banks pay revision takes place on the basis of bipartite settlement. The settlement takes place between Indian Banks’ Association (IBA) and United Forum of Bank Unions (UFBU).

IBA is representing bank managements while United UFBU is representing officers, employees, and staff organizations.  You can learn more details about bipartite settlement from this article.  Now we will discuss salary of an IBPS PO.

ibps po salary

ibps po salary

IBPS PO Salary :

Salary of a Probationary Officer in most of the public sector banks is almost the same; however, it varies from city to city.

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 Salary 2020 Allowances Promotion Policy of an IBPS Po

This is basic pay of an IBPS PO. Besides the basic pay, an IBPS Bank PO is also entitled to receive following Allowances:

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).

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.

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.

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.

Salary and Allowances of SBI PO

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.

IBPS PO Prelims Exam Pattern

The IBPS PO preliminary examination has a total duration of 1 hour and 20 minutes for each sections, which will be conducted in online mode. It consists of 3 sections with a total of 100 questions and maximum score of 100 marks. There is negative marking in IBPS PO pre exam and 0.25 marks are deducted for each wrong answer. Candidates must clear the cut-off in all 3 sections to qualify for the IBPS PO Main exam. The section-wise details are given below:

S.No. Name of Tests(Objective No. of Questions Maximum Marks Duration
1 English Language 30 30 20 minutes
2 Numerical Ability 35 35 20 minutes
3 Reasoning Ability 35 35 20 minutes
Total 100 100

Candidates have to qualify in each of the three tests by securing minimum cut-off marks to be decided by IBPS. Adequate number of candidates in each category as decided by IBPS depending upon requirements will be shortlisted for Online Main Examination.

IBPS PO Mains Exam Pattern

The IBPO PO Main exam is also conducted online, it has 5(4+1) sections with a total score of 200+25 marks and total duration of 180+30 minutes. Just like IBPS PO 2017, IBPS will be conducting a descriptive paper in its mains exam for selection of candidates to the post of Probationary officer. The sections must be attempted in the same order and the allotted time as mandated at the time of the exam. A candidate has to clear both preliminary and mains examination to be eligible for the interview process.

S.No. Name of Tests(Objective No. of Questions Maximum Marks Duration
1 Reasoning & Computer Aptitude 45 60 60 minutes
2 English Language 35 40 40 minutes
3 Data Analysis & Interpretation 35 60 45 minutes
4 General Economy & Banking Awareness 40 40 35 minutes
Total 155 200 3 Hours
5 English Language (Letter Writing & Essay) 2 25 30 minutes

IBPS PO Interview

The candidates who have qualified the mains exam are called for a face to face interview which carries a maximum of 100 marks. The minimum qualifying marks in the interview is 40% (35% for SC/ST/OBC/PWD candidates).

The interview round is generally 15-20 minutes long, where a panel of bank officials ask questions to the candidates about themselves, banking sector, current affairs, general awareness, etc. The candidates must be well dressed, confident and carry all required documents to the interview.

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