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Home / Salary Structure / IBPS PO Salary Package 2017 Revised Structure/Pay Scale/Increment In Hand

IBPS PO Salary Package 2017 Revised Structure/Pay Scale/Increment In Hand

IBPS PO Salary Package

IBPS PO Salary PackageCheckout the Revised IBPS PO Salary Package for year of 2017!!! If you want to make career in banking sector as Probationary Officer, it’s better to know IBPS PO Pay Scale and Increment. After 10th Bipartite Settlement, new IBPS Probationary Officer Salary Structure has been prepared. Now you can’t even imagine In hand salary IBPS PO. Read this page for knowing complete details on IBPS PO Salary Package 2017.

IBPS stands for Institute of Banking Personnel Selection and it conducts Probationary Officer Exam every year. Probationary Officer is a starting level post of any officer in a bank. Selected candidates will get the impressive amount of Pay Scale plus Increment which will be offered by organization. You may get the complete details regarding IBPS PO Salary Increment from the below of this page of www.recruitmentinboxx.com.

IBPS PO Salary Package

IBPS PO Pay Scale with Increment

Allowances Amount
Basic Pay Rs. 23700.00/-
Special Allowance Rs. 1836.75/-
DA Rs. 10163.63/-
CCA Rs. 870/-
Transport Allowance
Total (without HRA) Rs. 36570.38/-
HRA Rs. 2133.00/-
Gross with HRA Rs. 38703.38/-
Medical Aid Rs. 8000/-
Entertainment Rs. 500/-
Newspaper Rs. 300/-
Petrol Rs. 3000/-
Telephone Rs. 400/-
Canteen Subsidy Rs. 400/-
Pension Contribution Rs. 2500/-
Gross Annual CTC (with HRA but without leased accommodation) Rs. 5,57,640.52/-

Know More About: Bank Salary Structure

IBPS Bank PO Salary in Hand

Pay of PO includes basic Remuneration and other allowances given by banks. You may check the below given allowances that are given to Probationary Officers/ Management Trainees:

Dearness Allowance (DA):

Dearness Allowances are given to government employees as the cost of living adjustment allowance. It is some fixed percentage of the basic salary and based on location of the job of employees and inflation.

HRA:

House Rent Allowance or HRA based on the location of posting. All bank employees are given House Rent. If employees are having their own home, can’t claim for HRA.

Special Allowance:

Some special allowances are given to the Probationary Officers/ Management Trainees like 10th Bipartite Settlement.

CCA:

City Compensatory Allowance also depends on place of posting. This is given to the employees for balancing the high cost of living. It can be max 4% (Rs.870/-) or 3% (Rs.600/-) or 0%.

PO Pay in Metro Cities

In metro cities IBPS PO Officers are paid total IBPS PO In Hand Salary Rs. 30758/-. You may go through below given table to know about salary of probationary officers in Metro Cities.

Basic Pay Rs. 14500/-
Dearness Allowance @99.9% Rs. 14485.5/-
CCA (3% to 4% Max. Rs540/-) Rs. 540.00/-
Total Remuneration (Excluding HRA) Rs. 29525.5/-
HRA 8.5%; 7.5%; 6.5%* Rs. 1232.50/-
Total Salary (Including HRA) Rs. 30758/-

Must Check: IBPS PO Notification

PO Pay in State Capital:

Employees, who work in State Capital as probationary officers, are paid IBPS PO Revised Salary Rs. 30448/- per month by banks. To know the complete details, you need to go through the table that is given below.

Basic Pay Rs. 14500/-
Dearness Allowance @99.9% Rs. 14485.5/-
CCA (3% to 4% Max. Rs540/-) Rs. 375.00/-
Total Remuneration (Excluding HRA) Rs. 29360.5/-
HRA 8.5%; 7.5%; 6.5%* Rs. 1087.50/-
Total Remuneration (Including HRA) Rs. 30448/-

PO Pay in District Level and Rural Level:

At District Level and Rural Level, probationary officers are given total Rs. 29927/- per month as Remuneration. Please go through the table that is given below to get complete details about IBPS Probationary Officer Salary Structure.

Basic Pay Rs. 14500/-
Dearness Allowance @99.9% Rs. 14485.5/-
CCA (3% to 4% Max. Rs540/-) Rs. 0.00/-
Total Pay (Excluding HRA) Rs. 28985.5/-
HRA 8.5%; 7.5%; 6.5%* Rs. 942.50/-
Total Salary (Including HRA) Rs. 29927/-

Also Check: IBPS Specialist Officer Salary

IBPS PO Perks and Benefits:

Candidates are admissible for Accommodation Charges, Medical Benefits and Travelling Allowance and other benefits as mentioned below:

  • Accommodation Charges:

Probationary Officers are given accommodation charges. These charges are different from bank to bank. In some banks employees are also given accommodation/ bank quarters.

  • Medical Benefits:

Employees are also given medical benefits as some charges are also included in the monthly Pay of officers. Apart from this, PO is also admissible for life insurance. In some banks, family member of bank employees are also given medical aid by the government.

  • Travelling Allowance:

Travelling Allowance are given to the employees if they are going anywhere from office work. Also officers are also paid expenses to come office from home.

  • Probationary Officers are also given Entertainment charges, Telephone charges, Canteen Subsidy, Newspaper Cost per month.

Check Here: IBPS Notification

PO Salary After 10th Bipartite Settlement:

Here is the increment in the pay of PO after 10th Bipartite Settlement. As per the permission of Indian Bank’s Association, below mentioned hikes are given to the employees.

Increment (Percentage) % Basic Pay Gross Pay
15 % Rs. 26,706/- Rs. 37,068/-
20 % Rs. 27,866/- Rs. 38678/-
25 % Rs. 29,026/- Rs. 40,288/-
30 % Rs. 30,187/- Rs. 41,899/-

IBPS PO Revised Pay Scale:

  • We are expecting minimum 20% increment to this basic pay, but we can expect 25% increment to this basic pay.
  • If IBA agree for 20% increment, Final Basic Pay will be Rs.27, 866.
  • So, total Gross Pay of Bank fresher Probationary Officer (PO) will be Rs.38,678/- (Worst Possible Scenario)
  • If IBA agree for 25% increment, Final Basic Pay will be Rs.29, 026.
  • So, total Gross Pay of Bank fresher Probationary Officer (PO) will be Rs.40,288/- (Somewhat Good)
  • If IBA agree for 30% increment, Final Basic Pay will be Rs.30, 187.
  • So, total Gross Pay of Bank fresher Probationary Officer (PO) will be Rs.41,899/- (Good Settlement)
  • IBPS PO Revised Pay Scale: Rs. 23700 – (980 x 7) – 30560 – (1145 x 2) – 32850 – (1310 x 7) – 42020/-

Check Out: IBPS Clerk Salary

Salary after 7th Pay Commission:

It’s not necessary that after 7th pay commission salary of all IBPS PO Officer will be increased. Different banks are having different rules for increment of salaries of Probationary Officer. Chairman of Indian Banks’ Association also announced that there is no effect of 7th Pay Commission on pay of Probationary Officer.

Career Progression for Probationary Officers in Banking Sector with Salary:

Posts Name Amount
Junior Management Grade – Scale I: Officer i.e. PO Rs. 23700 – 42020/-
Middle Management Grade – Scale II: Manager Rs. 31705 – 45950/-
Middle Management Grade – Scale III: Senior Manager Rs. 42020 – 51490/-
Senior Management Grade – Scale IV: Chief Manager Rs. 50030 – 59170/-
Senior Management Grade Scale V: Assistant General Manager Rs. 59170 – 66070/-
Top Management Grade Scale VI: Deputy General Manager Rs. 68680 – 76520/-
Top Management Grade Scale VII: General Manager Rs. 76520 – 85000/-
Executive Director (ED) Approx 1.5 + lack
Chairperson and Managing Director (CMD) Approx 2 + lack

Check Here: IBPS PO/ MT Exam

Dear Candidates! We hope that the information that we have provided above about IBPS PO Salary Package 2017 is very beneficial to you. Keep visiting www.recruitmentinboxx.com regularly to get latest updates about the IBPS Salary Packages for different post. You may also subscribe us free email services or bookmark this page by pressing Ctrl+D.

You May Also Like To Check This Section:

IBPS PO Eligibility Criteria Public Sector Banks
List Of Banks Under IBPS How To Get A Bank Job In India
IBPS Exam Calender Latest Bank Jobs

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