IBPS SO Job Profile, Salary, Career Growth, Perks & Allowances

Updated On -

Jun 22, 2020

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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.

Check IBPS SO Application & Registration

Why consider IBPS SO Job Posts?

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:

  • It is less stressful compared to the other entry-level positions like IBPS PO since the job role is very specific and limited within a specific department of the bank.
  • The chances of a transfer are less as the requirement of Bank SO is very limited and usually, the post is required in head offices and zonal offices of the state or district, and these offices are located in the urban areas.
  • Even though the workload is lesser, the basic pay is equivalent to that of an IBPS PO.
  • The knowledge gained throughout your academic years will be useful and applicable in the job roles which you are designated through this exam.
  • There are ample prospects for growth within your own department and you can also switch to general banking in the long run.
  • The posting is mainly in urban regions and hence you do not have to cope with remote locations with almost no basic amenities.

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.

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IBPS SO 2020- Vacancy

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.

Post Vacancies
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.

Check IBPS SO Pattern & Syllabus

IBPS SO: Post-Wise Job Description

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-

IBPS Law Officer Scale 1

  • All kinds of documentation related to the banking service is handled by the Law Officer Scale 1.
  • They are in charge of checking the sanctions imposed by the bank and execute all relevant documentation.
  • In case of any litigation, they have to guide all the practising lawyers regarding the case.
  • They also represent the bank in case a suite is filed.
  • They have to ensure compliance of the RBI Norms.
  • They also make sure the deals and contracts that the bank is involved in are legally executed.

IBPS Marketing Officer Scale 1

  • All kinds of online and offline promotional activities of the bank are taken care of by the marketing officer.
  • They coordinate with the ad agencies regarding any kind of publicity of the banks’ activities and services.
  • They also must conceptualize new policies, services and programs which will aid in the overall profit and growth of the bank.
  • Marketing officers look into various products and service-related training of the other staffs so that they are able to fluently interact with the clients and increase the sales of the new products and services.
  • Research of new products and services that the bank can adopt is also done by the marketing officers for the overall increase in profit of the bank.

IBPS IT Officer Scale 1

  • They have to manage and look into the CBS or core banking system of any bank.
  • Any problem related to CBS must be solved by an IBPS IT Officer.
  • They have to repair, upgrade, and manage the banking software in case there is any trouble.
  • Protect and secure the banking network to prevent any kind of cybercrime.
  • All kinds of technical issues within the bank are solved by these officers.
  • Mobile and internet banking is specifically managed by this group of officers.
  • Any problems related to the ATM and banking software are also managed by IT Officers.

IBPS SO-Rajbhasha Adhikari scale 1

  • They promote the use of Hindi in the bank and its branches.
  • They are responsible for translating documents into Hindi.
  • They have to arrange all kinds of training programs in the official language.
  • They also make sure that the official language of the unions is used for communication along with English.
  • Language related workshops are also conducted by them.

IBPS SO- Agricultural field officer scale 1

  • They are in charge of promoting the banking services in the rural area which means, unlike other posts, there is a high probability of rural posting if you are applying for this course through IBPS SO.
  • They will also help in generating leads from rural branches.
  • These officers coordinate with other groups related to the agricultural economy and banking like NABARD, RRBs, etc.
  • Loan inspection and recovery are done routinely by the agricultural field officers in rural areas.
  • They also have to prepare reports on debts and loans in the bank.

IBPS SO- HR/Personnel officer scale 1

  • All kinds of recruitment and employee-related works are done by the HR/Personnel officer of the bank.
  • They have to conduct training programs as well for the newly recruited employees of the bank.
  • HR has to maintain the employee database after the recruitment is done.
  • All kinds of employee welfare schemes, compensation, and promotional policies are designed by the HR.
  • Performance evaluation on a yearly basis as well as increment policies are managed and implemented by HR.

Check IBPS SO Result & Counselling

IBPS SO: In-hand Salary and Pay structure

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-

  • The IBPS SO officers have a basic pay of INR 23,700 for all the posts. The pay scale is approximately 23700-980(7)-30560-1145(2)-32850-1310 (7)-42020.
  • They get a dearness allowance of approximately 36% which is INR 8600.
  • The house rent allowance is approximately 7% to 9% of the basic pay, depending on the location of your posting. It gets higher as you get posted in more urbanized locations.
  • There is a special allowance which consists of various incentives and bonuses for the employee, based on their performance. This is approximately 7.75% of the DA+Basic pay.
  • There is a CCA or city compensatory allowance for compensating the high cost of living in cities if they are posted in the metropolitans. It can be between 0 and 4% of the basic salary depending on the location.
  • The employees can also get a lease allowance based on their location of posting and up to 29,500 is provided through this.
  • Taking all these allowances into account, the gross in-hand salary of the bank SO Scale 1 officer is INR 38,000 and 39,000. After deductions the in-hand comes down to approximately INR 33000 to 35000. The PF contribution is deducted from the gross salary which is approximately INR 3000 to 3500.

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.

IBPS SO: Perks and Allowances

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-

  • The location of your posting and whether you are located in a rural, semi-rural, urban or metropolitan region. Generally, only the agricultural field officers are posted in the rural and semi-rural areas while all other posts are more needed in branches in urban and metropolitan locations. The lower the cost of living in the region you are posted in, the lower will be the percentage of the benefits that you get.
  • The performance and flexibility of the employee and the ability to adapt to the services and culture of the bank faster and skillfully. The performance will also mean their ability to bring more profit and revenues for the bank.
  • The perks and allowances of IBPS SO is relevant to that of the iBPS PO, however, do note that since the scope of growth is limited within the single department, the salary increment will also get limited to a certain point.

IBPS SO: Career Growth and Opportunities

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.

  • Junior Management Grade Scale – I Officer- entry-level post
  • Middle Management Grade Scale – 2 Manager- after 3 years
  • Middle Management Grade Scale – 3 Senior Manager- after 6 years of service
  • Senior Management Grade Scale – 4 Chief Manager- after 9 years of service
  • Senior Management Grade Scale – 5 Assistant General Manager- after 12 years of service.
  • Top Management Grade Scale – 6 Deputy General Manager- 15 years of service
  • Top Management Grade Scale – 7 General Manager- 18 years of service.

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.