IBPS PO Salary, Job Profile and Career Prospects

Updated On -

Mar 30, 2017

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Risha Sinha

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IBPS (Institute of Banking Personnel Selection) scheduled IBPS PO exam (Institute of Banking Personnel Selection Probationary Officer exam) on November 20, 2016. The exam is conducted to select probationary officers to serve different banks across India.

The most popular questions among the interested candidates giving the exam is- What is the job profile of a PO (Probationary Officer)? What is the salary structure of a IBPS Bank PO? What all banks accepts POs through IBPS PO exam? What are the Benefits and Perks that a PO gets?

The candidates can get all the answers in the following article. But, before that there is a good news for the candidates who gave the IBPS PO exam for the current year. There will be an increase in the IBPS PO salary.   

Salary Structure of an IBPS PO

A complete salary structure of a Probationary officer in general is mentioned below. Candidates can go through the table and know about the same.

Basic Pay 23700.00
Other Allowances 1836.75
DA 10163.63
CCA 870
Total amount without HRA 36570.38
HRA 2133.00
Total with HRA 38703.38
Entertainment allowances 500
Newspaper 300
Medical allowances 8000
Petrol 3000
Telephone 400
Canteen 400
Pension contribution 2500
Total Annual income 5,57,640.52

Note: The salary of IBPS PO will differ after recruiting in various IBPS PO Participating banks according to the bank policy.

Know About IBPS PO Application Form

Location wise Basic Salary of a PO

Criteria Metro Cities State Capital District Level and Rural
Basic Pay 23700.00 23700.00 23700.00
Special Allowance 1836.75 1836.75 1836.75
DA 10163.63 10163.63 10163.63
CCA 870  600 – 
Transport Allowance –  – 
Total (without HRA) 36570.38 36300.38 35700.38
HRA  2133.00 1896.00 1659.00
Gross with HRA 38703.38 38196.38 37359.38

The reason for a hike in the salary of an IBPS PO is the allowances offered to them other than the basic pay. The PO will be given medical allowances, canteen, newspaper, entertainment allowances and many more. What more can a new recruit can ask for? 

IBPS Bank PO Salary and Allowances

The basic benefits and perks that a PO will receive on a monthly basis as part of the salary of IBPS PO are given below:

  • Dearness Allowance (DA) – It is a cost of living adjustment allowance paid to all government and public sector Probationary officers. It is revised on a quarterly basis and based on Consumer Price Index (CPI). Calculation of DA depends on inflation. DA can go up with higher inflation and also come down if the inflation rate is in negative.
  • HRA – This depends on the place of posting, and it can be either 9.0% or 8.0% or 7.0% depending on the place of posting.
  • Special Allowance – This will add in 10th BPS (wef. 01/11/2012) and for Scale, I 7.75% on which DA is also payable
  • CCA – This also depends on the place of posting and can be either 4% (maximum Rs.870/-) or 3%(Maximum Rs.600/-) or 0%
  • Conveyance allowance – It is pay for commuting between home and office.

Check IBPS PO Syllabus

Other Benefits and Perks Available to IBPS Bank PO

Here are different types of other benefits applied to IBPS PO officers. It may differ in every bank.

  • Leased Accommodation – This service is available to Bank officers instead of HRA. It also varies from bank to bank and depends on upon the place of posting. Some banks may offer official bank accommodation/ bank quarters instead of leased housing.
  • Travelling Allowance – Most of the banks give a fixed Traveling Allowance and reimbursement of petrol bills.
  • Medical Aid – An amount also attached for your medical needs (Revised price is Rs8000/- p.a.)
  • Newspaper Reimbursement: A fixed monthly amount is pay towards the cost of one newspaper
  • Coverage under New Pension Scheme

IBPS Bank PO Career Prospects and Promotions

PO is the starting level of the Officer’s Post in a bank. The Probationary Officer needs to spend 2 years in the same post without getting any promotions. As this period, can be considered as a training period for the PO’s, they can study a lot of basic things during this period. After the completion of these 2 years one needs to undergo a screening test in which he/she will be evaluated based on the things which he/ she has studied in the past two years.

A bank PO can reach at the post of “Chairman” in future according to performance and nature. IBPS PO career is fastest growing path comparatively to other govt jobs. It will take the fast promotion, rewards, recognition and attractive postings for performers.

So, if one is preparing for IBPS Probationary Officers Exam, there is no limit in the banks as far as career progression is concerned. Bank PO job is one of the top most rewarding jobs in the Banking Industry. And at promotion side according to recent data, one will need an entry in middle management officers in just 2 -3 years and 7 – 8 years for senior management officers. So, career as a Bank Probationary officer is not a bad deal.

Job Profile of an IBPS Bank PO

An IBPS Bank PO’s job profile is vast. It is important for the Bank PO to be a multi tasker. As a PO, one will have to work in various departments. They are required to work in the departments like: 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.

Here are some of the primary duties of PO on the bank check it out.

  1. Customer service – This is the most basic and important part of IBPS PO job profile. The PO is required to know how to deal with the customers/public in a polite and organized way. It will be related to any of banking service like account statement, required of any of another document such as forms and issuing cheque books. Open new accounts, handle any other bank product, cash deposit, and withdrawal, etc. Bank PO will manage these types of many works on a daily basis.
  2. Account Related – A PO may be asked to handle account related job like Account Opening, Closure of dead accounts, print account statement when needed, issuing Cheque books to the client, arrange depositing slips, bank passbook entry and many of others account awareness provides to new customers like account features, benefits, etc.
  3. Cash handling – This job is basically meant for an IBPS Clerk, but there might be a possibility, due to overburden of work a PO will have to handle it. This job involves a PO handling cash transactions, managing all types depositing and withdrawal cash etc. It is a temporary work in IBPS PO job profile.
  4. Payment Clearance – This is also PO responsibility in the bank after clerk to manage all clearance system of payments for Inward clearing and outward clearing. Cheque clearing by fetching actual data of client also done by PO as per requirement. One might also has to process all types of transactions like Demand Draft (DD), Cheques, NEFT, RTGS and other payment methods.
  5. Loan Processing – In starting of Probationary officer probation period, few banks assigns freshers to work in their loan and Insurance department. Department will train them for these products like- how to sell and what to sell and how to convince customer and giving complete knowledge about the product.
  6. Generate New Business – Bringing business to bank, it is another feature of IBPS Bank PO Job Profile. They will have to manage various activities like promoting banking products, New Account opening, selling Insurance, loans, etc. this feature purely depends on bank policies.
  7. ATM Related Queries – In some of the banks a PO will be assigned for ATM based queries example: in case of ATM Lost- how to block ATM card online, New ATM request, ATM pin no. not received, the machine did not dispatch cash but deducted from the account, and one handles many of similar issues.
  8. Reporting and Verification – Other daily reporting works of transactions and account related also assigned to the bank PO. And manually verify each transaction and records of accounts on a daily basis if required.

Note: All work allotted to the selected candidates will be according to the bank policies and it may different for all banks. One will be posted in any of the bank branch and department.

*The article might have information for the previous academic years, please refer the official website of the exam.