One of the most coveted entry-level positions in the banking industry is that of a specialist officer. You have to qualify the entrance test conducted by different banking institutions to be recruited for the post. IBPS is a national level banking institution that conducts this test to recruit candidates for seventeen national and state-level banks. They also conduct the IBPS SO every year and lakhs of aspirants apply for it.
The IBPS SO 2020 exam notification is already published and the exam is scheduled for December 26 and 27, 2020. For banking service aspirants who are not very familiar with the nuances of this post, we have shared all kinds of information that you are likely to need through this article.
Many aspirants question the necessity of the IBPS SO and its advantages in terms of career prospects. While the job role of a specialist officer is not directly related to the service provided by banks, it is essential to keep all the departments in harmony and make sure they are working properly. Here are a few advantages of choosing IBPS SO as a career option:
Keeping all these perks in mind will render you more motivated towards pursuing this specific banking profession. Someone who wants a stress free working ambience which is stable with rare transfers will find a bank so a good opportunity. If you meet the eligibility criteria, you can easily opt for the different positions for which the recruitment is done through IBPS SO.
Every year, before the exam, IBPS declares the available vacancies for IBPS SO across the country so that you can make an informed decision about the list of banks where you want to get selected. The vacancy is also declared post-wise so that you know the competition level that you will be facing when you sit for the exam. For IBPS SO 2020 exam, the following is the vacancy list for all the posts in which you can get recruited.
|Agriculture Officer (Scale-I)||853|
|Marketing Officer (Scale-I)||302|
|IT Officer (Scale-I)||219|
|Law Officer (Scale-I)||75|
|HR/Personnel Officer (Scale-I)||81|
|Rajbhasha Adhikari (Scale-I)||69|
This is the nation-wide number of vacancies available for each post. Unlike IBPS PO, you cannot apply for all the available vacancies in IBPS SO. Rather, depending on the area of specialization, you can select the post for which you are applying accordingly. You cannot apply for any other post if you do not have the relevant qualification. This means, if you have the qualification for Rajbhasha Adhikari, the competition will be the toughest this year as there are only 69 vacancies nation-wide.
The job description varies from one post to another and it is very crucial to have a thorough understanding of the work in order to determine whether this is suitable for you. The following are the different posts for which you can get recruited through IBPS SO and the work that has to be done for them-
The salary of the IBPS SO is lucrative when you consider the nature of the work. It is on par with that of an IBPS PO even though the workload is much less. This is a primary reason why many candidates who have the required qualification often choose this post over IBPS PO. The following is the salary structure of all the posts for which you can apply through this entrance test-
Apart from the perks mentioned above, there are several other perks as well which you can avail when you are selected as an IBPS SO. There are conveyance allowances, newspaper allowances, entertainment allowances, house and furniture allowance, medical allowance, etc.
Every IBPS SO officer, irrespective of the post for which you are joining, is eligible to all the perks and benefits that are mentioned in the previous section. There are however certain determinants which will affect the extent to which you will be getting these perks which are as follows-
After selection, all the IBPS SO officers will have to undergo years of training and simultaneously gain experience in their field to get the promotions to the next stages. However, do note that an IBPS SO will have limited scope for promotion only within their relevant department and not in general banking. If you want to attain the ultimate posts and positions in the banking sector, you have to switch to core banking eventually or join as an IBPS PO or Clerk right from the beginning. The following are the hierarchy of promotion and career growth that you can attain if you are sticking within your department.
The opportunities for promotions solely depend on your performance and the years of experience that you accumulate. The procedure is transparent and only the truly hardworking will be rewarded. This is one of the main reasons behind the popularity of the IBPS SO positions which ensure that the candidates get a scope for fair play and chance to utilize their academic excellence in practical life.
Read IBPS SO News
Becoming an IBPS SO means you are the link to maintain harmony between the different departments in the bank and even though it is not related to the core banking service, your contribution is indispensable. If you want a less stressful, respectable job that lets you maintain a stable lifestyle, this is definitely a position that you can consider. We hope the details of the different posts and relevant work and salary will motivate you to study harder for the upcoming IBPS SO 2020 exam and make sure that you ace it.
Ques. Is PF contribution mandatory for an IBPS SO?
Ans. PF contribution is mandatory if the basic pay and DA together equals less than INR15000 which is not the case for IBPS SO. Hence, they have the option to choose whether they want to opt-out of EPF contribution at the time of joining. However, most people choose not to do this as it is a secured savings scheme.
Ques. Does an IBPS SO get pension benefits?
Ans. Yes, there are pension benefits as well for the IBPS SO officers and an amount of INR2500 is contributed monthly to their pension account. If you ever consider VRS though, you must complete a minimum of 20 years of service to be eligible.
Ques. What is the daily workload of an IBPS SO?
Ans. The daily workload of the IBPS SO is not very high and it can vary on a day to day basis. However, it is definitely less stressful than that of an IBPS PO as the work is specifically limited within a certain department and not generic.
Ques. Which post recruited through IBPS SO has the maximum workload?
Ans. Every post recruited through IBPS SO has a completely different set of workload and none can be pitted as more stressful than the others. It entirely comes down to your perception of stress and challenging work. In the bank, the workload in any department can vary on a day to day basis.
Ques. Will I be frequently transferred as an IBPS SO?
Ans. The requirement of IBPS SO is limited to metropolitan branches, head offices, and zonal offices which means the scope for transfer is limited. In most cases, an IBPS SO officer is transferred 4-5 times at most throughout their service tenure which is quite less compared to the other general banking designations.
Ques. Do all employees get a lease allowance?
Ans. Only employees who are posted in a different state or city other than their home town are given lease allowance. However, irrespective of where you are posted, you will be eligible for HRA.
*The article might have information for the previous academic years, please refer the official website of the exam.