Before choosing a direction to one’s future, one always checks what lies ahead. The salary, the benefits and everything else that one might come across down the road, so it is with the profitable IBPS SO (Institute of Banking Personnel Selection Specialist Officers) exam candidates. Before applying for the IBPS SO exams, one must check the salary and benefits that can be achieved through this exam. IBPS SO is a recruitment exam to fill positions in various nationalised banks in India. Other than getting paid with some of the best salary packages, candidates selected to fill the vacancies through IBPS SO also avail many added benefits in their positions like allowances and compensation.
In the 2020 examinations, there were 4122 vacancies that needed to be filled. The vacancies for 2021 is not out yet but based on the data of 2020 aspiring candidates can make a decided call.
|IBPS SO 2020 Pay Scales||23, 700 – 980/ 7 – 30,560 – 1,145/ 2 – 32,850 – 1,310/ 7 – 42,020|
|Dearness Allowance associated with IBPS SO salary 2020||36% of Basic Pay|
|City Compensatory Allowance||3%-4% depending on the place of posting|
|House Rent Allowance as per IBPS SO 2020 Salary||7%-9% depends on place posted|
|Post||In-Hand Salary (Payscale 1)||In-Hand Salary (Pay Scale 2)|
|It Officer||Rs. 24000- Rs.32000||Rs. 34000- Rs. 40000|
|Rajbhasha Adhikari||Rs. 24000- Rs.32000||Rs. 34000- Rs. 40000|
|Agriculture Officer||Rs. 24000- Rs.32000||Rs. 34000- Rs. 40000|
|HR Officer||Rs. 24000- Rs.32000||Rs. 34000- Rs. 40000|
|Law Officer||Rs. 24000- Rs.32000||Rs. 34000- Rs. 40000|
|Marketing Officer||Rs. 24000- Rs.32000||Rs. 34000- Rs. 40000|
The In-hand Salary is calculated after subtracting of multiple factors from the gross salary. The gross salary is from between Rs. 38000 to Rs. 39000, so after all the deductions the Officer gets around Rs. 33000 - Rs. 32000 as the Take Home Salary Slip.
There are many benefits that are also availed apart from the salary and some of them are:-
The Specialist Officers recruited through IBPS have to be on probation for at least a period of one year, so they are accustomed to the job and the work that it entails. In this period they have many pieces of training and mentorship to the nuances of the banking and their post. The appraisals are fair and transparent for all the employees through IBPS officers. There are a lot of growth options and the Officer can reach the top management level through departmental exams and in house promotions. Sometimes there are also foreign posting available for Officers.
Ques. What is the average pay offered for Scale 1, Scale 2, Scale 3 positions?
Ans. The average pay offered to Scale 1, Scale 2, Scale 3 employees through IBPS are:
|Grade||IBPS SO Salary|
|Officer Scale I||Monthly salary– Rs. 36400/-
Pay Scale– Rs. 23700-980/7-30560-1145/2-32850-1310/7-42020
|Officer Scale-II||Monthly salary- Rs. 48800/-
Pay Scale- Rs. 31705-1145/1-32850-1310/10-45950
|Officer Scale III||Monthly salary- Rs. 64600/-
Pay Scale- Rs. 42020-1310/5-48570-1460/2-51490
Ques. What are the allowances and perks offered to the IBPS SO employees?
|IBPS SO Salary- Allowances|
|House Rent Allowance||7%-9%(Location dependent)|
|Dearness Allowance||Rs 8605.88|
|Special Allowance||7.75%(Scale I)|
|City Compensatory Allowance||0-4%(depends on location)|
*The article might have information for the previous academic years, please refer the official website of the exam.