IBPS PO Salary Structure
IBPS conducts the PO/ MT exam in October (prelims) and November (mains) every year. A large number of candidates attempt these exams. In the year 2015 alone, more than two million job seekers applied for the same. Therefore an important and most asked question from the candidates is: What is IBPS PO Salary Structure? In whichever career they may be, but every person wants their job to be enriching for them. The latest IBPS PO Salary Structure 2016 covers a vast spectrum of details like IBPS PO Salary, incentives, IBPS PO Pay Scale & perks and other benefits. IBPS PO Allowances also form a significant part of the salary.
The IBPS PO exam takes place for the post of Probationary Officer or Management Trainee. In our other articles we have explained about IBPS PO Exam Pattern, previous cut-offs & Results. We have explained them & a lot more in appropriate sections below.
IBPS PO Salary Structure 2016 | Will you be paid enough?
IBPS PO Salary | IBPS PO Pay Scale | IBPS PO Allowances
If you are looking for the details of IBPS PO Salary Structure 2016, then you have landed in the right place. We have explained the complete details of IBPS PO Pay Scale in our IBPS PO Salary Structure section such as the in hand salary during training & afterwards, allowances like TA/ DA/ HRA, accommodation & medical benefits, increment and a lot more. In addition we have explained in detail about IBPS PO Salary as you go up in the corporate ladder.
So let us begin by explaining the pay scale of a Probationary Officer or Management Trainee.
IBPS PO Pay Scale | During Probation & After Promotion
The Probationary Officer as the name itself suggests is an Officer under training. After a successful probation of two years, the PO/ MT candidate becomes an Assistant Manager. Yes, it a managerial job indeed but it includes certain other areas of responsibility. Below we have explained the IBPS PO Pay Scale for 2016-17. In addition we have indicated the subsequent pay scales as a PO gets promoted.
IBPS PO Pay Scale (after probation period)
|Hierarchy Ladder||Grade of Officer||Scale of Officer||Name of Post||Pay Scale|
|1||Junior Management Grade||Scale – I||Probationary Officer||23700 – 980 – 30560 – 1145 – 32850 – 1310- 42020|
|2||Middle Management Grade||Scale – II||Manager||31705 -1145 -32850 -1310 -45950|
|3||Middle Management Grade||Scale – III||Senior Manager||42020 -1310 -48570 -1460 -51490|
|4||Senior Management Grade||Scale – IV||Chief Manager||50030 -1460 -55870 -1650 -59170|
|5||Senior Management Grade||Scale – V||Assistant General Manager||59170 -1650 -62470 -1800 -66070|
|6||Top Management Grade||Scale – VI||Deputy General Manager||68680 -1960 -76520|
|7||Top Management Grade||Scale – VII||General Manager||76520 -2120 -85000|
Apex Grade Pay Scales
|Hierarchy Ladder||Grade/ Scale/ Post of Officer||Pay Scale|
|8||Executive Director (ED)||Approx 1.5 + lakh|
|9||Chairperson and Managing Director (CMD)||Approx 2 + lakh|
While salaries in most of the cities are same but they may differ in metro cities and small cities depending on the bank & its location. Moreover as you can observe above, the IBPS PO Pay Scale increases well in proportion with the concerned grade or scale. Finally on observing you can conclude IBPS PO Pay Scale is competitive to other jobs and satisfying at the same time.
Following table reveals the expected hike in wages after Tenth Bipartite Settlement and permission of Indian Bank’s Association.
|Increment||Basic Pay||Gross Salary|
|15 %||Rs 26706||Rs 37068|
|20 %||Rs 27866||Rs 38678|
|25 %||Rs 29026||Rs 40288|
|30 %||Rs 30187||Rs 41899|
IBPS PO Allowances | Perks and other Benefits
During the period of probation and always thereafter the IBPS PO Allowances are given in addition to the salary. Apart from IBPS PO Allowances many other benefits and facilities have been described below.
1) Dearness Allowance (DA): It is the cost of living adjustment allowance at a location. It is revised quarterly based on Consumer Price Index (CPI). Calculation of DA depends on inflation.
2) House Rental Allowance: HRA can be either 9.0% or 8.0% or 7.0% depending on the place of posting.
3) Special Allowance: This will add in 10th Bi-Partite Settlement on which DA is also payable
4) CCA: This can be either 4% (maximum Rs.870/-) or 3%(Maximum Rs.600/-) or 0% depending on the place of posting.
5) Conveyance Allowance: It is pay for commuting between home and office.
Some perks & other benefits in addition to IBPS PO Allowances
In addition to IBPS PO Allowances Bank Officer are entitled to some other perks & benefits as given below.
1) Leased Accommodation – This facility is available to Bank PO in place of HRA.
2) Traveling Allowance – Few banks provide fixed Traveling Allowance whereas others allow reimbursement of petrol bills.
3) Newspaper Reimbursement – A fixed monthly amount is paid towards the cost of one newspaper.
4) Medical Aid – A fixed annual amount is paid by most of the banks (Revised amount is Rs8000/- p.a.)
5) Benefits after coverage under New Pension Scheme.
IBPS PO Salary | Salary in hand during training & afterwards
Inclusive of IBPS PO Allowance in IBPS PO Pay Scale
The table below explains the in hand salary including DA, HRA, SA etc.
IBPS PO Salary Structure 2016
|Total (without HRA)||36570|
|Gross Annual CTC (with HRA)||Rs 557640|
The in hand salary of a PO in three different locations is given as follows.
|Criteria||Metro Cities||State Capital||District Level and Rural|
|Total (without HRA)||36570||36300||35700|
|Gross with HRA||38703||38196||37359|
In the end it can be concluded that the salary obtained in this job is as satisfying as the job itself. It’s an endeavor if you happen to be a bank PO. Good Luck for the journey ahead!
We hope that we have helped you clear most of your doubts and queries regarding IBPS PO Salary Structure 2016, IBPS PO Salary, incentives, CTC, remuneration, IBPS PO Pay Scale & perks and other benefits, etc. If you still have any doubts about IBPS PO Salary & IBPS PO Allowances you may ask below.
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