Home / Salary 2023 / IBPS PO Salary 2024 Package | After 7th CPC – Wage Revision & Perks

IBPS PO Salary 2024 Package | After 7th CPC – Wage Revision & Perks

IBPS PO Salary

Here you are getting up-to-date information regarding IBPS PO Salary 2024. If you are willing to set your career as a probationary officer then must know entire details about the salary structure of a PO like basic pay, increments, salary after 7th CPC wage revision and all other perks.

Candidates may check Complete IBPS PO Salary in Hand and Wages Revision details. You must know that the above given figures of Probationary Officer’s Salary is approximate and is almost same for all banks but there may be difference depending on the bank’s policies.

IBPS PO Salary Package 2024

Basic Salary includes monthly Pay Scale and some special benefits like HRA, DA, CCA, Medical Allowances, and Traveling Allowances etc. IBPS PO Salary 2024 differs from place to place, so check entire details about PO Salary Package from here.

Appliers for Latest IBPS PO Notification are suggested to scroll down this page for acquiring complete information regarding IBPS PO Starting Salary and Increment in Latest IBPS PO Pay Scale which is well designed by the team members of www.recruitmentinboxx.com

IBPS PO Salary

IBPS PO Salary Package 2024:

ParametersIBPS PO Salary Slip
Basic payINR 36,000
DA23.87% of the Basic Pay (Varies based on inflation rates) (INR 8593 for basic pay of INR 36,000)
HRA7%-9% of the basic pay (For Eg: 3240 for the basic pay of INR 36,000)
City Compensatory Allowance (CCA)/LOC A3% or 4%(depending on the place of posting) (For Eg: INR 1400)
Special Allowance7.75% of the basic pay (INR 5904 for the basic pay of INR 36,000)
DA othersINR 1552
Learning AllowanceINR 600
Prof TaxINR 200
Cont to NPSINR 4459
Gross SalaryINR 57,289
NET Salary after deduction of INR 4659INR 52,630

IBPS PO Salary And Allowances:

Along with a great Package, some special facilities and allowances are also provided to IBPS PO and Management Trainees. The total  IBPS PO Pay Scale including all these allowances is around Rs. 57,289 and net salary after deduction is 52,630.

    • Dearness Allowance (DA): Dearness Allowance is a cost of living of adjustment allowance and it is paid to public sector PO. This facility is revised after 3 months and it depends upon Consumer Price Index (CPI).
    • HRA: HRA is basically based on the place where the employee gets posted, and it can be either 9.0% or 8.0% or 7.0% depending on the place of posting.
    • CCA: CCA is also based on the place of posting and it can either be 4% (maximum Rs.870/-) or 3% (Maximum Rs.600/-) or 0%.
    • Conveyance allowance: This facility is provided to the Probationary Officer for commuting between home and office.
    • Special Allowance: According to Salary & Wages Revision, a special allowance has been added to the salary structure of the Bank Probationary Officer.
    • Leased Accommodation: In some locations, the bank provides accommodation/quarters to the POs. In such cases, the HRA is not provided. The amount goes directly to the owner of the accommodation.
    • Travelling Allowance: The bank also provides Travelling Allowances to the POs. Otherwise, the expenses on petrol is reimbursed.
    • Medical Aid: A fixed monthly amount is paid by most of the banks ( PO Salary and Perks Revised Amount is Rs. 8000/- p.a.)
    • Newspaper Reimbursement: A fixed monthly amount is paid towards the cost of a newspaper to the probationary officer.
    • New Pension Scheme: Benefits Under the scheme.

You Can Also Check: Bank Salary Structure

IBPS PO Salary after 7th Pay Commission:

All the aspirants assuming that salary of every bank employee get increased after 7th pay commission but every bank has their different method to calculate the increment in IBPS PO monthly pay scale, they don’t follow any pay commissions.

IBPS PO Promotions 2024

    • Junior Management Grade – Scale I: Officer i.e. PO
    • Middle Management Grade – Scale II: Manager
    • Middle Management Grade – Scale III: Senior Manager
    • Senior Management Grade – Scale IV: Chief Manager
    • Senior Management Grade Scale V: Assistant General Manager
    • Top Management Grade Scale VI: Deputy General Manager
    • Top Management Grade Scale VII: General Manager
    • Executive Director (ED)
  • Chairman and Managing Director (CMD)

After 5 Years Salary of IBPS PO:

The bank provides an attractive salary package to Probationary Officers. Along with a great pay scale, the bank provides some Benefits and Perks to PO. Many reputed banks provide a fixed amount in the form of Traveling Allowance and reimbursement of petrol bills. The organization also provides some amount for medical needs (Revised price is Rs. 8000/- p.a.) One of the best advantages of this career is job security as employees will not lose his job until their retirement and after that they will receive pension.

Check Out: Sarkari Naukri- Latest Jobs

IBPS PO 2024 Notification – Overview

Exam NameIBPS PO 2024 – Common Recruitment Process (CRP PO/MT-VIII)
Conducting AuthorityInstitute of Banking Personnel Selection (IBPS)
Name of PostIBPS Probationary Officers / Management Trainees
(Junior Management Grade – Scale I)
Participating OrganizationsPublic Sector Banks in India except the State Bank of
India (SBI) and its Associate Banks
Number of VacanciesTo be notified
Application ModeOnline
Exam ModeOnline
Number of StagesThree – Prelims, Mains, and Interview
Official Websiteibps.in

IBPS PO Job Profile:

If you get selected for IBPS PO Jobs, you will go through training program in Management Training Academies of the bank. The period of training differs from bank to bank and after completion of it, PO can be posted anywhere in India.

They can be posted as an Assistant Manager on probation in different branches or Head Office or Corporate Office or Zonal Offices or in specialized branches. The Salary In Hand for IBPS PO will be different from place to place.

  • Deputy Manager
  • Branch Manager
  • Senior Branch Manager
  • Chief Manager
  • Assistant General Manager
  • DGM
  • General Manager

Duration of Probation Period

  • Ist Phase- 6 months,
    IInd Phase-6 months and
    IIIrd Phase- 1 year.

Final Words:

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