IBPS PO or SBI PO: Which One is Better?

DILEMMA!! is a word that finds its place in the lives of most people today. We have lot many opportunities in today’s age and thus lot many choices to select from. A state when you are in a dilemma is generally followed by a state of mess, chaos and mismanagement. If you are a serious aspirant who is aiming for a good career in the government sector , specifically the banking sector , then the major questions that may come to your mind are :- Should I go for PO or CLERK? If going for clerk, then should I go for IBPS CLERK or IBPS RRB CLERK ? If opting for PO, should I go for IBPS PO or SBI PO? This choice between an IBPS PO and SBI PO is one of the most significant and difficult questions that a banking aspirant faces. Though the profiles for both these jobs are almost the same, the main difference lies in the employing organizations, and thus the working conditions and environment. SBI PO has always been one of the most awaited and preferred jobs followed by IBPS PO.

Let’s look at the major points of distinction that may give a clear insight into the actual scenarios of both the jobs of IBPS PO and SBI PO and make it easier for you to decide.

Here , we will discuss some points which may bring out the similarity and difference

IBPS PO vs SBI PO – “DESIGNATIONS”

• If you join in any commercial bank, as a PO, that is listed under IBPS, you will be designated as ‘Officer Scale – I’ or ‘Assistant Manager’ on a probation for a period of 2 years, thus commonly called ‘Probationary Officer’.
• If you join as a PO in SBI ( State Bank of India), you will be given the designation of Junior Management Grade – I Officer.

IBPS PO vs SBI PO – “ Job Profiles”

The posts being the same, you can expect the work profiles to be almost similar. But, as pointed earlier, the main difference lies in the employing organizations, i.e. IBPS & SBI.

The basic duties and tasks do remain the same, but on a larger scale, the tasks start differing when it comes to the business and scale of work in both the organizations. While being on probation, a PO/MT may be expected to work on anything and everything, irrespective of the level of task. It may be an assistant level job or a higher level job. This helps in training the candidate well in advance for the upcoming challenges and tasks that might come his/her way while performing the assigned duties, once he/she becomes an officer after the completion of the probation period. Also, taking up all kind of tasks helps acquainting the person with the working and procedures of a bank.

Let’s look at some of the major tasks that both IBPS PO and SBI PO are entrusted with :-

IBPS PO & SBI PO : Tasks & Responsibilities

• An IBPS PO / SBI PO is expected to be trained well , in all capacities related to finance, accounting, billing, investment and marketing. He/ she is expected to work in the direction of increasing the respective bank branch business, as soon as he / she is posted to a particular branch, which may be in any region / area.
• An IBPS PO / SBI PO issues drafts, cheques, ATM cards etc.
• An IBPS PO / SBI PO is expected to perform the managerial tasks and also supervise / verify the work being done in the branch by the lower level staff, along with taking care of the loan related documents.
• Another major task that an IBPS PO / SBI PO has to perform is working as the ‘public relations officer’, as a bank job is nothing but dealing with the customers on a daily basis.
• A bank PO is also expected to stay updated with all the recent developments in the banking industry that may involve reading all the recent circulars and news that comes across on a regular basis.
• A PO also needs to always be ready to address customer complaints, whenever they arise and resolve them as early as possible
• ‘Report filing’ is also one of the important tasks that a bank PO needs to work on. You will be expected to generate reports of the daily operational transactions like deposits, withdrawals, ledger balances, etc.

SBI being one of the biggest banks, involves work on a larger scale that is followed by bigger opportunities that may come at a slower pace in other commercial banks. On the work front, the pressure and responsibilities are very much similar in both IBPS & SBI PO , but if someone wants a job full of challenges and fast growth, SBI may be a fair choice.

IBPS PO vs SBI PO – “ In-hand Salary”

Delivering the same kind of responsibilities and performing similar tasks , the pay of a PO in both the cases falls on the same line, except some minor differences in the numbers. The main difference that lies here is the organizations that employ you as an officer (PO).

In – hand Salary of an IBPS PO :

• The basic salary of an IBPS PO is Rs 23700.00
• An IBPS PO is entitled to some other Special Allowances equal to Rs,1836.75
• Other entitlements of an IBPS PO officer –

1. DA or Dearness Allowance – Rs, 10163.63
2. CCA or City Compensatory Allowance – Rs, 870
3. HRA or House Rental Allowance – Rs 2133

• Thus, the total in-hand salary of an IBPS PO will amount to Rs, 38703.38

In – hand Salary of SBI PO :

• The basic salary of an SBI PO is Rs. 23700.
• The SBI Probationary Officer gets 4 advance increments of Rs 980 which will be added to the basic pay, which makes the total of basic salary – Rs. 27620.
• An SBI PO is entitled to receive the following allowances –

1. Dearness Allowance – Rs 12677
2. City Compensatory Allowance (CCA) -Rs. 870
3. Special Allowance – Rs. 2140

• The total earnings of an SBI PO before ‘Deductions’ amount to Rs. 43,307. Some other smaller allowances including Newspapers, Entertainment Allowance, Conveyance etc.are also provided which amount to Rs. 4130 along with the HRA of Rs. 2486
• Deductions –

PF (10% of Basic) = Rs. 2762

NPS (10% of Basic+DA) = Rs. 4000

Income Tax = As per govt norms.

• Total In-hand salary of an SBI PO amounts to Rs 40,000 / month.

As can be seen, both the organizations reward their employees to almost the same extent.

IBPS PO vs SBI PO – “ WORK PRESSURE” & “ENVIRONMENT”

If we compare both the jobs with respect to their organizations, we cannot give any fixed judgement. Both the jobs , as discussed above, expect you to do the same kind of tasks and hold similar responsibilities , whether it is IBPS PO or SBI PO so there is not much to decide here, except few points.

• An IBPS PO, may not feel too pressurized or stressed out as compared to an SBI PO, as the area of work is visibly larger in SBI, being the largest bank of India.
• The postings may not be too different, as both organizations employ /post their employees in similar areas / regions.
• Pressure of loan approvals is almost the same in both organizations, except that SBI has naturally larger business and hectic work schedules and comparatively larger targets to reach.

IBPS PO vs SBI PO – “Perks & Benefits”

A bank PO is entitled to receive some basic perks and benefits which add an advantage to this prestigious job. The main facilities provided to a bank officer are:

1. Leased Rental Accommodation –

IBPS PO – Official bank accommodation is provided as leased accommodation.

      SBI PO – Leased accommodation range from INR 8,000/- in ‘C’ category Centers to INR  29,500/- in Mumbai Centre.

2. Travel Benefits –

       IBPS PO – An IBPS PO can own a vehicle from Bank’s side in place of petrol bills. He/she will also be provided with the facility of staying at banks’ guest houses while visiting various places across India.

     SBI PO – An SBI PO is also entitled to stay at any of the bank’s guest houses while travelling across India along with travel concessions while visiting different places.

3. Medical Benefits –

       IBPS PO – An IBPS PO receives an amount of Rs 8,000 per annum as medical aid.

       SBI PO – SBI offers 100% medical facilities to the employees and 75% to their family          members.

IBPS PO vs SBI PO – Which one to choose?

Eventually , the question is which one should you finally choose?

Whichever job you choose between IBPS PO & SBI PO is entirely for you to decide, after going through all the above mentioned points. The prospects and facilities offered by both these jobs are similar. Both the jobs come with equal dignity and respect, almost similar benefits and perks. The decision of choosing one over the other totally depends on individual preferences, abilities and goals. What you choose will not make a big difference to your career, if you work hard enough in whichever field you enter.

CHOOSE WISELY !

All The Best !

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