IBPS PO Salary, Job Profile and Career Growth
IBPS PO Salary Structure 2018-19: Get details of IBPS PO Salary After 7th Commission, IBPS PO Salary in Hand, Job Profile and career growth here.
IBPS PO Salary, Job Profile and Career Growth
Institute of Banking Personnel Selection (IBPS) which conducts the Common Written Exam (CWE) to recruit POs/MTs, various banks participate in this CWE. For most candidates, a PO job is a dream because of the salary benefits and perks that come along with it. The first and foremost question which comes to a candidate’s mind while applying is the IBPS PO Salary, Job Profile and career growth. In this article, we have shared all the required details related to the recruitment. Scroll down to check the details of the same.
IBPS PO – What is the Salary and Allowances?
IBPS PO Salary
|Total (without HRA)||36570.38|
|Gross with HRA||38703.38|
|Gross Annual CTC (with HRA but without leased accommodation)||5,57,640.52|
Perks and Benefits
There are other perks and allowances for IBPS PO. Apart from the basic pay, bank officers are eligible for the below allowances:
- Dearness Allowance (DA): It is a cost of living adjustment allowance paid to all government and public sector probationary officers. Revised on a quarterly basis based on the consumer price index (CPI). It basically depends on inflation; the DA can increase with a higher inflation and comes down when there is a drop in inflation.
- HRA: House Rent Allowance depends on the place of posting.
- Special Allowance: It is 7.75% on the basic pay.
- City Compensatory Allowance: This also depends on the place of posting of the PO. It can either be 3%, 4% or 0% on the basic pay.
Conveyance Allowance: It is paid for commuting from home to office.
Other Benefits and Perks
- Leased Accommodation: This varies from bank to bank, it is instead of the HRA. Some banks may also offer official bank accommodation/bank quarters instead of leased housing.
- Travel Allowance: Most banks allow fixed travel allowance and reimbursement of petrol bills.
Medical Aid, paper bill reimbursement are all mentioned in the above table.
IBPS PO Job Profile
Firstly, the shortlisted candidates are in a probation period. The probation period is generally for two years and this period would be divided into various phases as per the bank. A PO gets to work in various departments in the bank in the initial two years. It will be Deposits, Loans & Advances, Clearing, Pensions, Payment and Cheque clearances, Fixed Deposit, ATM and Internet Banking, Credit Card, Report Making, Account related queries like closure, statement, ATM Issues, etc. A PO will be posted in any of the branches of the Bank and the department ensures that the PO gets the best training by the end of the probation.
Everyone talks about PO, but do they actually know the roles and responsibilities of a PO. Let us take a look at the job profile of IBPS PO.
IBPS PO Prelims Admit Card is available for the downloading. Click on the link below & download to know your exam center, city, date & timing:
Responsibilities of Bank PO:
Customer Service: This is a topmost work for any IBPS PO. The main responsibility is to handle the customer and answer their queries and provide alternative solutions.
Account Related: Most banks assign bank account related queries to the PO. It could be related to accounting openings, closure of dead accounts, issuing Cheque books to the client, arrange depositing slips, bank passbook entry, create awareness among the new customers regarding account features, benefits, etc.
Cash Handling: A PO should know every tiny detail related to the cash handling. This is primarily a clerical job, but the PO is supposed to know as it is the second major post. At the time of heavy footfall of work, POs manage all types depositing and withdrawal cash.
Payment Clearance: This is also a responsibility of a PO after the clerk to manage clearance system of payments for Inward clearing and outward clearing.
Loan Processing: At the beginning of the probation, banks assign a fresher to handle loan and Insurance department to sell their products. Department will train the PO on how to sell and what to sell and also teach them how to convince the customer.
ATM Related Queries: Some banks assign you to handle the queries related to the ATM-like lost ATM card, how to block card online, New ATM request, ATM pin number not received, and machine failed to dispense the cash but the amount got deducted from the account.
Reporting and Verification: Other daily reporting works of transactions and account related issues also assigned to the PO. PO is also responsible for manually verifying the transaction and records of accounts on a daily basis as and when required.
Once you are selected as a Probationary Officer, you will have a lot of opportunities in any Public Sector Bank. If you work hard and are fortunate enough, you may be promoted to the manager position once you complete your probation period. However, banks conduct exam for the promotion of employees on a regular interval. The flow of growth of a banker begins from the post of Assistant Manager and then follows as:
- Deputy Manager
- Branch Manager
- Senior Branch Manager
- Chief Manager
- Assistant General Manager
- General Manager
We hope that you have gathered all the information from our article on IBPS PO Salary, Job Profile and Career Growth . In case you have any query, you can always comment in the comment box below. We would be more than happy to help you.
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