As the IBPS PO Exam approaches, candidates are eager to learn more about this position. Once candidates have cleared this exam, they will want to learn about the IBPS PO pay scale to determine the perks of this position and what the work entails.
In the recent notification, IBPS announced that 11 public sector banks would be recruiting candidates through the examination to be held during December 2020. There are 3517 job vacancies and several candidates who wish to secure a position. Hence, the competition is tough.
Pay Scale: What is the Career Growth for IBPS PO?
The salary structure and the IBPS PO pay scale will differ based on their position, job location, and Grade. Additionally, there is a fixed annual increment for every officer, along with special allowances as well. There is a clear career path for an IBPS PO, and with every promotion, the pay increases as well.
Initially, the candidate joins as a Junior Management Grade Scale 1 employee, with a basic pay that ranges from Rs. 23,700 to Rs. 42,020. The second level is Middle Management Grade Scale 2 employee, with a basic pay that ranges from Rs. 31,705 to Rs, 45, 950.
The third level is Middle Management Grade Scale 3, with basic pay that ranges from Rs. 42,020 to Rs. 51, 490. The fourth level is Senior Management Grade Scale 4, with basic pay that ranges from Rs. 50,030 to Rs. 59,170.
The final level is Senior Management Grade Scale 5, with basic pay that ranges from Rs. 59,170 to Rs. 66, 070. These are the promotional channels through which the salary and scale of an IBPS PO can grow. However, there are other career growth opportunities beyond this as well. They are:
Deputy General Manager: Top Management Grade 6
General Manager: Top Management Grade 7
Executive Director
Chairman and Managing Director
Depending on the bank, years of working experience, and other factors, the pay for these positions vary.
What Does an IBPS PO Do?
Once you are aware of the IBPS PO pay scale, it is important to learn the job description as well. The work of an IBPS PO includes:
- Taking part in various bank activities, and hence, they should be aware of how different sections of the bank work, from tending to the queries of the customer to managing the operations of the branch.
- Supervising bank clerks from different departments
- Gaining practical knowledge of working in various Departments such as Loan, Finance, Accounting, etc.
- Verifying documents to help in the processing of loan applications
These are some of the daily activities of an IBPS PO; it can be challenging and requires attention. Hence, candidates must clear two rounds of examination as well as an interview before they are selected for this position.The work of an IBPS PO is challenging, and the pay scale depends on the Grade and job location of the candidate as well. Hence, the final salary for every candidate may differ.
