This blog seeks to unravel the intricacies of the promotion structure within Public Sector Banks, providing an in-depth exploration into the career progression of both Probationary Officers and Clerks. Recognizing the importance of understanding the trajectory of advancement within these key banking roles, the content serves as a compass for aspirants navigating their careers strategically. By delving into the various avenues of growth and development, readers will glean valuable insights into the hierarchical steps, evolving responsibilities, and diverse opportunities awaiting those who become a Bank PO. The comprehensive examination of the promotion structure is designed to equip individuals with the knowledge necessary to chart their professional ascent amidst the dynamic landscape of Public Sector Banks.

This blog essentially empowers readers with a holistic understanding of the multifaceted dimensions that define a Bank PO’s career journey. From the initial aspirations of securing a prestigious position to the nuanced strategies required for sustained growth, the exploration aims to be a valuable resource for individuals navigating the evolving terrain of banking careers.

Promotion Structure in Banks

For several reasons, a bank job through the IBPS recruitment process is considered secure and beneficial. Firstly, banks are integral to the economic system, providing stability and longevity to employment. Job security is further reinforced by the stringent selection process of IBPS exams, ensuring that only qualified and competent individuals secure positions. Additionally, bank jobs offer attractive salary packages, various allowances, and opportunities for career advancement.

Furthermore, the comprehensive benefits packages, including health insurance, retirement plans, and other perks, contribute to the overall well-being of employees. Banks prioritize skill development, providing continuous training and learning opportunities, and enhancing the employability of individuals. The structured career progression and diverse job roles within the banking sector enable employees to carve out a long-term and fulfilling career path. Overall, a bank job secured through IBPS provides financial stability and paves the way for professional growth, making it a coveted and advantageous choice for job aspirants.

• Career Progression and Stability: Entering the banking industry through IBPS ensures a structured career path, starting with a probationary period of two years. Successful completion guarantees job security and opens doors to regular promotions, providing a sense of stability and long-term career prospects.

• Dynamic Job Roles and Designations: The banking sector offers diverse job profiles and designations. Through promotions, employees experience a continuous evolution in their roles, breaking monotony and keeping the work environment engaging and intellectually stimulating.

• Geographical Exposure and Exploration: Employees can explore different locations across India post-promotion. Banking jobs often involve transfers, allowing individuals to gain exposure to diverse cultures and work environments fostering personal and professional growth.

• Attractive Perks and Benefits: The banking industry rewards employees with various perks and benefits, including competitive salary packages, health insurance, retirement plans, and more. These incentives contribute to the overall well-being of individuals and enhance the attractiveness of a banking career secured through IBPS.

Promotion Structure in Public Sector Banks

In India, Public Sector Banks (PSBs) implement a meticulously structured promotion hierarchy designed to foster the career progression and professional development of their Probationary Officers (POs). Commencing at the entry-level Scale I position, this hierarchical system serves as a comprehensive roadmap for aspirants within the dynamic banking sector. The journey unfolds with individuals undertaking the role of POs, undergoing rigorous training and evaluation during a probationary period. 

As they successfully navigate this initial phase, employees ascend through various managerial grades, such as Junior Managers in Scale II, Chief Managers in Scale III, and Assistant General Managers in Scale IV. This progression culminates in top-tier executive roles, including Deputy General Manager (Scale V), General Manager (Scale VI), and ultimately, leadership positions like Executive Director (ED) and Chairman and Managing Director (CMD). Understanding and navigating this hierarchy is pivotal for aspirants, as it not only ensures job security but also provides a clear and structured pathway for advancement in the ever-evolving landscape of the banking industry. Let’s take a look at the promotional structure in Public Sector Banks in detail below. You can understand this even better through the table given after this: 

• Scale I – Probationary Officer (PO): Aspiring bankers begin their career journey at Scale I as Probationary Officers. This entry-level position in Public Sector Banks (PSBs) involves an immersive training program and a probationary period during which recruits undergo rigorous evaluation. POs are exposed to various facets of banking operations, honing their skills and preparing them for higher responsibilities.

• Scale II – Manager: Successful completion of the probationary period propels individuals to Scale II, where they assume managerial roles as Junior Managers. Responsibilities expand to include overseeing specific banking functions, managing teams, and contributing to the efficient functioning of the bank at the operational level.

• Scale III – Chief Manager: Progressing to Scale III, employees achieve the designation of Chief Manager. This middle management role signifies a substantial increase in responsibilities and decision-making authority. Chief Managers are crucial in formulating and implementing strategic initiatives within their respective domains.

• Scale IV – Assistant General Manager: Scale IV marks the transition to the Senior Management Grade, with individuals assuming the role of Assistant General Managers. In this capacity, they hold key positions overseeing diverse banking operations, contributing to policy formulation, and ensuring the effective execution of strategic objectives.

• Scale V – Deputy General Manager: Progressing further up the hierarchy, Scale V designates individuals as Deputy General Managers. At this senior management level, they contribute significantly to the bank’s strategic planning and execution, playing pivotal roles in decision-making processes that impact the overall direction of the institution.

• Scale VI – General Manager: Scale VI represents the top tier of the Middle Management Grade, where professionals ascend to the role of General Managers. In this capacity, they lead and direct the bank’s critical functions, providing strategic direction and contributing to the organization’s overall success.

Bank Promotion Structure  in JAIIB and CAIIB

Once you successfully navigate all stages of the bank PO examination, securing the position of Probationary Officer (PO) or Assistant Manager, a transformative journey unfolds in your banking career. The initial two years are designated as a probationary period, during which you undergo intensive training and evaluation. Upon successful completion, you attain permanent status in the job, marking a significant milestone in your professional trajectory.

To propel your career forward, banking institutions encourage further education through the Junior Associate of Indian Institute of Banking (JAIIB) and the Certified Associate of Indian Institute of Banking (CAIIB). Offered by the Indian Institute of Banking and Finance (IIBF), these courses are integral for career advancement. As a diligent banker, you embark on the JAIIB course, followed by the more advanced CAIIB upon completion.

These courses not only enhance your knowledge and skills but also add substantial value to your professional profile. Successful qualification in JAIIB and CAIIB opens avenues for increments and promotions, aligning your career trajectory with the evolving demands of the banking sector. By investing in continuous learning, you not only stay abreast of industry developments but also position yourself for higher responsibilities and increased remuneration, making these courses a vital component in the growth process of a bank PO.

Promotion Structure in Banking: Certifications, Achievements, and Soft Skills

Navigating a successful banking career involves understanding the intricacies of the promotion structure. This journey encompasses certifications, achievements, and the development of soft skills, each playing a crucial role in advancing professionals through the ranks.

• JAIIB Course: Building Fundamental Banking Knowledge: The JAIIB course serves as a foundational pillar for banking professionals, imparting essential knowledge about the intricacies of the banking industry. Covering key tasks and functions equips candidates with a comprehensive understanding of their roles. The course is undertaken immediately after joining, providing a strong knowledge base that lays the groundwork for a successful banking career.

• CAIIB Course: Specialized Advancement and Increment Opportunities: CAIIB represents a specialized course where candidates attempt three papers and one elective. Conducted online twice a year, successful completion adds depth to a banker’s expertise and provides avenues for career advancement, promotions, and additional increments. It becomes a valuable asset throughout one’s professional journey, contributing significantly to lifetime earnings.

• Online and Biannual Exams: Continuous Learning Opportunities: JAIIB and CAIIB exams are conducted online twice yearly, offering banking professionals consistent learning and skill enhancement opportunities. This format ensures that individuals stay updated with industry trends, contributing to their proficiency and adaptability in the dynamic banking landscape.

• Strategic Career Advancement Through CAIIB: Depending on the availability of vacancies, qualifying CAIIB provides a strategic advantage in promotions, enriching interview responses, and positioning candidates favorably against their peers who have not obtained this specialized certification. It becomes a distinguishing factor in career progression within the banking sector.

• Overachieving Targets: Leveraging Opportunities as a PO: Post-JAIIB and CAIIB, Probationary Officers have the opportunity to work closely with Branch Managers, engaging in diverse tasks such as account opening, lending, cross-sales, and NPA recovery. Proactively learning and overachieving targets during this phase showcases dedication and positions individuals for accelerated career growth.

• Soft Skills and Time Management: Nurturing Interpersonal Skills: Soft skills, including communication, management, and interpersonal abilities, play a pivotal role in a bank professional’s success. Working alongside colleagues of varying ages, POs gradually develop effective communication and people management skills, enhancing their ability to collaborate and navigate diverse professional environments.

The combination of foundational knowledge from JAIIB, specialized expertise from CAIIB, continuous learning opportunities, strategic career planning, overachievement of targets, and the development of soft skills collectively contribute to a comprehensive growth strategy for individuals pursuing a fulfilling career in the banking sector.

About IBPS PO Promotion

Embarking on a career as an IBPS Probationary Officer (PO) opens doors to a dynamic role with multifaceted responsibilities crucial for the seamless operation of a Bank/Branch office. This journey involves key tasks, including the processing of loans, supervision of Bank Clerks in clerical tasks, and ensuring the overall smooth functioning of the office. Interacting with clients and customers is also a pivotal aspect of the IBPS PO’s role, highlighting the importance of interpersonal skills.

For a comprehensive understanding of the IBPS PO role, individuals can benefit from ixamBee’s IBPS PO Online Course, designed to provide in-depth insights into the intricacies of the job, promotion opportunities, and salary structures. This course serves as a valuable resource for those aspiring to excel in the competitive realm of IBPS PO positions.

IBPS PO Salary Structure

The core of the IBPS PO salary structure is the ₹36,000 monthly basic salary, serving as the benchmark for their overall remuneration. This foundational element ensures a stable and competitive starting point for individuals entering the banking profession.

• Allowances Enhancing Compensation: IBPS POs benefit from a suite of allowances, including City Compensatory Allowance, Dearness Allowance, House Rent Allowance, and Special Allowance. These additional components significantly enhance their total compensation, addressing various aspects of living and working conditions.

• Retroactive Components: The inclusion of Retro CCA and Retro HRA in the compensation structure reflects a commitment to maintaining financial parity over time. These retroactive components ensure that past adjustments are considered, providing consistency and fairness in remuneration.

• Comprehensive Pay Structure: The Gross Pay, which encompasses the basic salary and various allowances, offers a comprehensive view of the total compensation received by IBPS POs. This holistic approach provides transparency and clarity regarding the overall financial package associated with the role.

• Net Pay after Deductions: Net Pay is the final amount IBPS POs receive after necessary deductions. This includes adjustments for taxes and other deductions, offering a practical perspective on the take-home earnings that individuals can expect in their banking career.

• Holistic Compensation Package: Amalgamating a competitive basic salary, diverse allowances, and retroactive components creates a holistic compensation package for IBPS POs. This comprehensive approach fosters financial stability and enhances job satisfaction, making the banking profession an attractive and rewarding career choice.

SBI PO Career Growth and Promotion

SBI’s career growth for Probationary Officers (POs) is structured and progressive. Beginning at the Junior Management Grade (Scale 1), POs ascend through middle and senior management roles, reaching the top tier as General Managers. The pinnacle is the Chief General Manager, followed by executive leadership roles in Scale 8, such as Deputy Managing Director, Managing Director, and Chairman. ixamBee’s SBI PO Online course provides comprehensive and targeted preparation for aspiring candidates, equipping them with the knowledge and skills needed to excel in the competitive SBI PO exam. The SBI PO Salary, inclusive of basic pay of ₹41,960 along with various allowances and benefits, makes it an attractive career choice, offering financial stability and growth opportunities in one of India’s leading banking institutions. This hierarchical progression reflects career advancement and highlights the bank’s commitment to nurturing leadership and expertise within its ranks. A basic idea of the structure is given below.

• Junior Management Grade Officer (Scale 1): Initiating the SBI PO career, individuals begin as Junior Management Grade Officers in Scale 1, marking the entry point into the hierarchical progression.

• Middle Management Grade (Scale 2 and 3): Advancing from PO, the journey extends to Scale 2 as Managers and further to Scale 3 as Senior Managers, signifying the evolution into middle management roles with increased responsibilities.

• Senior Management Grade (Scale 4 and 5): Progressing to Scale 4 as Chief Managers and Scale 5 as Assistant General Managers, professionals enter senior management, overseeing critical organizational functions.

• Top Management Grade (Scale 6 and 7): The top tier beckons with Scale 6 as Deputy General Managers and Scale 7 as General Managers, assuming strategic leadership roles in the bank.

• Chief General Manager (CGM): Achieving the pinnacle of the SBI hierarchy, individuals reach the prestigious position of Chief General Manager, symbolizing extensive experience and leadership within the organization.

•  Executive Leadership Roles (Scale 8): The highest echelons encompass Scale 8 roles, comprising Deputy Managing Director (DMD) and Managing Director (MD), and culminating in the esteemed position of Chairman, showcasing executive leadership at its zenith.

Take a look at the SBI PO career progression scale in the table below.

Prepping with ixambee

ixamBee provides a strategic and effective approach to competitive exams and offers various online courses, free mock tests, previous year papers, and expert guidance. Tailored study resources for various banking and government exams ensure comprehensive preparation. The user-friendly interface and personalized learning plans make ixamBee an ideal choice for candidates seeking to enhance their skills and boost success in exams. The platform’s commitment to quality content and innovative learning tools fosters a conducive environment for aspirants to excel in their exam preparations and confidently face the challenges of competitive assessments.

Summing Up

Embarking on a career in banking through IBPS or SBI offers a structured path to success. The intricate promotion structures, certification avenues, and soft skills development create a comprehensive growth strategy. Recognizing the dynamic landscape, ixamBee is a crucial ally in exam preparation. Ultimately, a bank job secured through IBPS or SBI promises financial stability and a fulfilling journey with continuous learning, diverse opportunities, and the pride of contributing to the nation’s economic backbone.

To help you prepare 50% faster for competitive exams, ixamBee provides a free Mock Test Series and all the Current Affairs in English and Current Affairs in Hindi in the BeePedia capsules for GA Preparation. You can also get the latest updates for Bank PO, Bank Clerk, SSC, RBI Grade B, NABARD, and Other Government Jobs.

Also Read

 Computer Knowledge Questions for RBI Assistant, IBPS PO, and SBI PO Exams

Full Form of NABARD with All Details

Interview Tips For NABARD Grade A 2023

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The IBPS PO exam is renowned for its intense competition, and despite candidates investing considerable effort and preparation, a significant number fail to qualify. Even though many candidates manage to clear the written Exam, they often struggle to perform well in the interview round, leading to their failure in securing the final selection as a Bank PO. This Exam’s difficulty level can be attributed to various factors. In this blog, we will delve into some of these reasons and shed light on the question that intrigues many aspiring candidates: “How challenging is the IBPS PO exam?”

Is IBPS PO Exam Tough?

The preliminary level of the IBPS PO exam serves as a qualifying stage, where candidates need to meet the overall and sectional cut-offs to proceed to the main examination. The overall cut-off depends on factors such as the number of candidates, available seats, and the Exam’s difficulty level. While the prelims are not overly difficult to clear, regular practice of mock tests helps familiarise candidates with the exam format and enhances their chances of success. With focused preparation spanning 4-5 months, it is feasible to clear the Exam, especially for those who already possess a basic understanding of quantitative aptitude, English language, and reasoning.

Some candidates believe they can qualify for the Exam within 3-4 attempts, but the reality is that many individuals manage to clear it on their first attempt. Achieving success on the initial try requires consistent effort and practice. It is crucial for candidates to maintain a determined mindset, put in diligent practice, and make continuous efforts to increase their chances of clearing the Exam successfully.

When discussing the difficulty level of the IBPS PO exam, it is important to note that the Exam and its questions themselves are not inherently tough. The test primarily comprises basic questions in quantitative aptitude, English, and reasoning. However, the competition arises from the limited number of available seats compared to a large number of candidates, which adds a level of challenge to the overall process.

The IBPS PO exam is not inherently difficult to clear, especially if you adopt the right preparation strategy and learn from the mistakes made by others. With a focused approach, consistent practice, and a thorough understanding of the exam syllabus and pattern, aspiring candidates can improve their chances of success.

What makes the IBPS PO Exam Tough?

The IBPS PO exam is renowned as one of India’s most challenging tests. Conducted by the Institute of Banking Personnel Selection (IBPS) for selecting probationary officers in public sector banks, its difficulty arises from a vast syllabus, fierce competition, and a rigorous selection process. There are various factors which make the IBPS PO one of the toughest exams for candidates:

Few reasons why IBPS PO Exam is Tough

Difficulty Level and Cut-Off of the Exam

The difficulty level and cut-off of the Exam are the game changer of this IBPS PO exam. The primary thing about this Exam is you can’t have it all at once, which means an easy exam level and low cut-off can never go hand in hand. If you find your question paper easy, that will lead to a higher cut-off and vice versa. 

Number of Applicants and Vacancies

Another reason the IBPS PO Exam is tough is the ratio between the number of applicants and the vacancies. As per the notification of IBPS PO Recruitment 2022, there are a total of 4135 vacancies, and the number of aspirants applying for these vacancies is more than 5 lakh. 

Sectional Cut Off 

The sectional cut-off is yet another reason making IBPS PO Exam challenging. According to the IBPS PO Exam Pattern, in order to qualify for each stage of the Exam, you are required to score a minimum cut-off in each section separately. This means to qualify for the stages of the IBPS PO Exam, you have to maintain a minimum cut-off score along with the overall cut-off score of the Exam.

Separate Time Duration

Time is precious, and the IBPS PO exam is the perfect proof of it. There are 2 stages possessing 3 and 5 sections, respectively. In the IBPS PO Prelims exam, to attempt 3 sections, you will have 20 minutes separately for each session. Hence, you have to do all the magic within those 20 minutes. Similarly, in the IBPS PO Mains Exam, you will get 60, 35, 40, 45 and 30 minutes separately for each section to attempt. Now you know why it is so. 

Negative Marking

You need to be sure about your answers. Yes, IBPS PO Exam requires confidence and accuracy, not just a mere attempt at the questions. You will witness negative markings for attempting answers incorrectly, and you will not lose or gain anything if you leave any questions unanswered. Hence, the IBPS PO exams demand you to be confident with your answer. One wrong answer and you will lose 0.25 marks for it. 

There is no need to get these aspects to your nerves; remember, things can be tough but not impossible. To excel in the IBPS PO exam, candidates must possess a robust understanding of subjects such as economics, finance, banking, and current affairs. The Exam’s pattern and syllabus are strategically designed to evaluate candidates’ knowledge, analytical prowess, and problem-solving capabilities. In this post, we present expert-curated tips to assist aspiring candidates in successfully cracking this esteemed examination.

General Tips and Tricks to Crack the IBPS PO Exam

Creating a Study Schedule:

– Organize a systematic study plan by preparing a comprehensive timetable covering all topics relevant to the Exam.

Selecting Relevant Books: 

– Opt for standard and reputable books from the market, as reading all available books might prove unproductive. If available, utilize notes from coaching institutes for your preparation.

Emphasizing Practice:

– Distinguish yourself by cultivating a habit of extensive practice. In this Exam, practice plays a pivotal role; therefore, practice numerous questions before the actual test.

Mock Test Series:

– Enhance your exam readiness by enrolling in a mock test series. Participating in such a series will provide valuable insights into the Exam’s actual level and contribute to excelling in the test.

Analyzing Previous Year Question Papers:

– Thoroughly analyze previous year’s question papers to gain a better understanding of the Exam’s difficulty level and the types of questions typically asked.

Conclusion

The IBPS PO exam is highly competitive and challenging due to its extensive syllabus and fierce competition. However, with proper preparation, dedicated practice, and a determined mindset, candidates can overcome these obstacles and succeed. Following a structured study schedule, using standard study materials, and participating in mock test series are key strategies for exam readiness. By honing their knowledge in relevant subjects and learning from past mistakes, aspirants can increase their chances of becoming a Bank Probationary Officer. With perseverance and the right approach, the dream of excelling in the IBPS PO exam can be realized.

To help you prepare 50% faster for competitive exams, ixamBee provides free Mock Test Series and all the Current Affairs in English and Current Affairs in Hindi in the BeePedia capsules for GA Preparation. You can also get the latest updates for Bank PO, Bank Clerk, SSC, RBI Grade B, NABARD, and Other Government exams.

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With the release of the notification of IBPS PO 2022 and the opening of the apply online link today, many aspirants face the challenge of choosing the bank preference during the IBPS PO online form. 

Our article will help you fill out your IBPS PO bank preference form 2022 properly and answer any questions you might have about it.

Before we move any further, let us go over some of the general details of the IBPS PO 2022 exam such as the official notification, exam pattern and more.

IBPS PO Selection Process 2022

Please go over the details of the IBPS PO exam pattern 2022 carefully. 

The IBPS PO exam 2022 will be conducted in 3 steps:

IBPS PO Prelims Exam 2022: As this is an eliminator round, the marks scored in this section are not considered for final merit. Candidates must clear a sectional cut-off as well as an overall cut-off to proceed to the next round.

IBPS PO Mains 2022: A candidate’s final selection is made on the basis of their performance in this section. Here again, you need to clear the overall and sectional cutoff to reach to the Interview round.

IBPS PO Interview 2022: Interviews will be held for candidates who pass the Mains examination. There will be 100 marks in the interview process. The minimum mark to qualify will be 40% for the General category and 35% for SC, ST, OBC, and PWD candidates. Following the interview process, IBPS will release a merit list and offer a joining letter to the successful candidates based on the combined score for the Mains examination and the interview.

List of Participating Banks

The following are the 11 participating banks in the IBPS PO 2022 recruitment process you should be familiar with in order to move forward in the selection process.

1. Bank of Baroda
2. Bank of India
3. Canara Bank
4. Central Bank of India
5. Indian Bank
6. Indian Overseas Bank
7. Bank of Maharashtra
8. Punjab National Bank
9. Punjab & Sind Bank
10. UCO Bank
11. United Bank of India

Headquarters of the participating Banks 

IBPS PO Bank Preferences headquarters and the total number of branches are shown in the table below:

How to Choose Your Preference for IBPS PO

There are several factors to consider when you choose and fill your preference for the IBPS PO application. They are:

• Job priority
• Locational preference
• Salary structure
• Promotion policies
• Work culture
• Posting and transfers
• Personal preferences

Also see: Preparing for Bank PO Exams? Here’s What You Ought to Know!

How to Fill Bank Preference in IBPS PO 2022?

When you fill out your IBPS PO 2022 online application, you will be asked to fill in your bank preferences as well. Depending upon what you have filled in, you will be allotted a job posting once you clear the IBPS PO 2022 exam. For this, we hope that you will carefully consider what you are looking for before you fill in your job posting preferences. As aforementioned, there are several factors to consider, let us discuss them in more detail so that you are able to understand and cover all the aspects of your job posting carefully.

1. You should give preference to the bank that has the most branches in your state if you are a lady aspirant seeking a home posting.
2. Choose the banks with headquarters in your state or with the most branches in your state if you are a North or South Indian who wants to be posted near your hometown.
3. It is important to keep in mind that once you make your final list, you will be serving the particular bank for a considerable amount of time.
4. If you are filling out the bank preferences section of the IBPS PO 2022 exam, it is important to take into consideration the location and area of the bank’s headquarters and branches. Identifying where the bank’s headquarters are located is the first step in working in a specific area or region.
5. It is also possible that some banks may consider your preferences for location, while others may require you to work in any locations across the country.
6. When it comes to transferring funds between banks, different banks have different policies. Check out the transfer policies of each bank you’re considering to determine which one is best for you.
7. You need to take your personal preferences into consideration when choosing the bank preference for the IBPS PO 2022 exam.
8. In other words, if you prefer one bank to another, place it at the top of the list, while the banks you want to avoid should be at the bottom.

Also See: Promotion Structure in Banks: Everything You Need to Know!

Study With ixamBee

In a first of its kind, ixamBee has recently launched the Ultimate BeeBanker Online Course to help aspirants prepare for multiple bank exams simultaneously. Aspirants will be able to save time and reach their goals faster by receiving the most intensive and exhaustive training. Take a look at the features of this course below.

• More than 400 video lessons
• More than 200 study notes in PDF form
• 10 Descriptive English mock tests 
• Weekly tests
• More than 10,000 practice questions
• More than 150 Difficulty based Chapter Tests
• More than 75 Section tests
• 10 one-on-one individual sessions
• Daily Live Classes with the concerned faculty
• Interview Preparation
• Unmatched mentorship
• You can avail this course for 2 years!!
• If you are unable to crack any exam in 2 years, you will be given a full refund.

All the best for your future from Team ixamBee!

Get Free Online Test Series, GK updates in the form ofBeePedia. Similarly, get the latest updates for Bank PO, Bank Clerk, SSC, RBI, NABARD and Other Government Jobs as well.

Also Read

In- Hand Salary of an IBPS PO

IBPS PO 2021 Mains Exam Analysis (Held on January 22, 2022)

Complete Guide to Ace the competitive exams with ixamBee: Make My Test

Tips to Prepare for Bank Exams 2022

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The job of an IBPS PO has been one of the most popular jobs for years now. The main reason behind it is the job security, dignity and moreover pay scale that one receives as an IBPS PO (Probationary Officer). Although, if you wish to take it as a long term goal and succeed in the respective job in the coming future, you should be well aware of the monetary benefit that you will receive in the coming years and get some clarity regarding your personal job trajectory. Having all information is beneficial in setting goals and getting a clear vision while you are preparing for an exam. Here we are going to discuss about the salary trend of an IBPS PO through all these years.

IBPS PO Salary

For those who joined as an IBPS PO around 2010 were getting a salary of approximately Rs 20,000 / month along with other benefits like medical, HRA, Leave Travel Concession (LTC), etc. In this span of 8-9 years, majority of the POs must have been promoted to Scale II Officers (Manager) and some of them must have been even promoted to Scale III (Senior Manager). Banks have a provision of wage settlement in every 5 years. The last wage settlement had been due from 2012 which was done in 2015 under which all employees get arrears for three years. (The term arrears refers to a payment that is supposed to be paid at the end of a period, rather than at the beginning). The next wage settlement (11th Bipartite Settlement) has been due from November 1, 2017 where the Indian Banking Association (IBA) has now raised its offer to a 10% hike which the banks are not willing to accept, therefore the talks have been stuck since. Every wage settlement results in a 25-35% hike in the salary. The Probationary Officers (POs) who were receiving 20K as salary in the year 2010, are now drawing around 60-65K per month, which implies that the salary has been increased 3 times. Following this trend, in the next 7 years, a Bank PO will come into the range of Rs 1.3 – 1.5 Lakh per month.

Public Sector Banks (PSBs) have been facing a tough competition from private banks and therefore they are facing challenges in attracting good talent. There has been a serious discussion regarding the system of ‘variable pay’ for the bank employees.

The salary of PSB employees has not been at par with that of Central Government. Thus, we can expect that there will be a significant hike in the salary of PSBs in the coming 5-10 years.

Also Read:

IBPS PO Final Cut-offs

IBPS Exam Calendar

Best Books for IBPS PO 2019

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