Bank PO Salary 2024 - Structure, Pay Scale, Allowance, Job Profile

Bank PO Salary 2024 - Structure, Pay Scale, Allowance, Job Profile

Edited By Vishnukumar V | Updated on May 29, 2024 12:22 PM IST | #SBI PO

Bank PO Salary - As per estimates, every year close to 20 lakh aspirants apply for banking exams in India. Some of the most popular banking exams in India are IBPS PO and SBI PO. Both these exams are very popular among aspirants preparing for banking jobs. It is highly reputable and the bank PO salary offered through IBPS/SBI is also respectable. An aspirant after getting recruited as a Probationary Officer in SBI is eligible for an in-hand SBI bank PO salary 2024 of Rs, 42000-44000, while the IBPS PO salary is Rs. 38000-40000.

Apart from the bank PO salary 2024, aspirants are also given various other benefits like travel allowance, house rent allowance, special allowance etc. In this article on bank PO salary, aspirants can check all the details related to the salary, allowances and benefits.

Latest: Upcoming Government Exams List 2024

Also read:

What is the Bank PO Salary?

The Probationary officer exam is conducted by the Institute of Banking personnel as well as State Bank of India. From the following table, candidates can check the IBPS PO salary as well as the SBI PO salary. The bank PO salary of IBPS and SBI also consists of the basic pay, various other benefits and the in-hand salary.

IBPS PO Salary 2024

Particulars

Amount

Basic Pay

23,700

Special Allowance

1,836.75

DA

10,163.63

CCA

870

Total (without HRA)

36,570.38

HRA

2,133.00

Gross with HRA

38,703.38

Also read:

SBI PO 2024 Salary

Allowance

Amount

Dearness Allowance

46.9% of the Basic Pay

City Compensatory Allowance

3% – 4% depending on location

House Rent Allowance

7% – 9% depending on Place of Posting

Furniture Allowance

INR 1,20,000

Medical Insurance

100% covered for employee | 75% covered for dependent family

Travelling Allowance

AC 2-tier fare is reimbursed to the employee for official travels

Petrol Allowance

INR 1,100 – 1,250

Newspaper Allowance, Entertainment Allowance, Books Allowance, etc.

Varies based on Cadre

SBI PO Salary 2024 with increments

Basic Pay

Rs.27,620/- (with 4 advance increments)

1st Increment

Increment of Rs. 980/- for the next 7 years

2nd Increment

Increment of Rs. 1145/- for the next 2 years

3rd Increment

Increment of Rs. 1310/- for the next 7 years

Also read:

Bank PO Salary - Perks and Allowances

Dearness Allowance (DA)

Furniture Allowance

City Compensatory Allowance

Medical Insurance

House Rent Allowance (HRA)

Travelling Allowance (TA)

Petrol Allowance

Newspaper Allowance, Entertainment Allowance, Books Allowance, etc.

Loan Benefits

Telephone bill reimbursement

Canteen subsidy

Pension contribution

Provident fund

Check Here List of Other Government Exams

Bank PO Salary - Career Growth

The bank PO job offers great career stability and growth opportunities for aspirants who qualify in the exam. The aspirants will first be selected as Assistant Manager and then as per experience they will be promoted to higher ranks.

  • Assistant Manager

  • Deputy Manager

  • Manager

  • Chief Manager

  • Assistant General Manager

  • Deputy General Manager

  • General Manager

  • Chief General Manager

  • Deputy Managing Director

  • Managing Director

  • Chairman

Also read:

Bank PO Salary - Roles and Responsibilities

  • The Bank PO job is one of the most dynamic jobs where a fresh recruited candidate will have to perform various tasks. From the following points, aspirants can check the roles and responsibilities of a bank PO.

  • At the start, aspirants will have to supervise clerical activities.

  • They will also have to get involved in customer service roles.

  • Newly recruited aspirants will have to work in the processing of loans, opening new bank accounts, etc.

  • As banks are exploring new products and offering services, a PO will have to learn about Retail Banking, Rural Banking, etc.

  • Aspirants will also be sent to on-site training at bank training institutes.

  • After newly recruited candidates complete their probation period, they will have to undergo screening, and after qualifying it, will be promoted to a higher scale.

Salary articles of other popular competitive exams

Frequently Asked Questions (FAQs)

1. Which bank Po has the highest salary?

If compared with all the banks out there, the SBI offers the best bank PO salary.

2. Is Bank PO a good job?

Yes, it is the highest ranked bank job among aspirants who are planning to appear for the bank PO.

3. What is SBI PO salary?

The SBI PO salary is approximately Rs 40000-44000.

4. What will Bank PO salary after 5 years?

After 5 years, the Bank PO salary of an aspirant can cross Rs. 55000-60000.

5. What are the benefits given to aspirants apart from bank PO salary?

Aspirants are given various benefits such as travel allowance, house rent allowance and various other benefits.

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Questions related to SBI PO

Have a question related to SBI PO ?

A Master's degree is not mandatory to become an SBI PO or get promoted to a bank manager role. However, it can enhance your profile and potentially give you an edge in the competitive selection process.

An MBA can be a good choice as it equips you with valuable skills in finance, management, marketing, and communication - all of which are crucial for a banking career

Consider specializing in Finance, Banking, or Risk Management within your MBA program. These specializations will directly align with the SBI PO role and career progression in banking.

A Master's in Commerce with a specialization in Banking and Finance can provide a strong foundation in banking principles and practices. While not as directly focused on banking, a Master's in Economics can equip you with analytical skills and an understanding of economic trends, which are valuable assets in the financial sector.

Several banking-related certifications like Certified Financial Analyst (CFA) or Certified Risk Management (PRM) can enhance your profile without the time commitment of a Master's program. Focused coaching programs or online resources can equip you with the specific knowledge and skills required to crack the SBI PO exam.

Ultimately, the decision of pursuing a Master's degree depends on your individual circumstances, goals, and resources. While an MBA or other relevant Master's can be beneficial, it's not essential for success in the SBI PO exam or career advancement in banking.

https://competition.careers360.com/download/ebooks/know-all-about-sbi-po

I hope it helps!

There is an interview in sbi po where your profile needs to be strong to fetch good marks .Doing finance, Banking, or Risk Management within your MBA program will enhance your profile and potentially give you an edge in the competitive selection process. Also,you can do m.com specialisation in finance and banking. aligarh muslim university provides this course at very affordable fee you should consider.

ALL THE BEST.

Dear aspirant !!

Hope you are doing well !

The SBI PO candidates must not be below 21 years of age and must not be above 30 years of age to be eligible for SBI PO 2024. The SBI PO qualification for the candidates is to have passed Graduation in any discipline from any recognized university or equivalent.

After becoming the po ,you will get a handsome salary and perks , facilities . You will live a standard life . The exam is not very easy ,you need to work very hard to get the post of po of SBI or any other bank .

For details,visit the link ;-

https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://competition.careers360.com/exams/sbi-po/amp&ved=2ahUKEwiC3Ma5k_6DAxXPr1YBHbzDCF4QFnoECBkQAQ&usg=AOvVaw1EvryhQbeL6pqrpDgZXedq .

Hope it helps you

Hello aspirant,

Yes, if you have completed your diploma through remote learning, you are eligible to apply for the SBI PO Exam. Candidates who have obtained their graduation through distance education from an accredited university are eligible to apply for the SBI PO Exam through the State Bank of India (SBI).

But you need to fulfill the eligibility criteria of SBI PO. To know complete eligibility criteria, please visit the following link:

https://competition.careers360.com/user/user-preference/step2?destination=https://competition.careers360.com/articles/sbi-po-2024

Thank you

Hope it helps you.

Hello aspirant,

Candidates must be between the ages of 21 and 30 to be eligible for the SBI PO test; however, reserved candidates are exempt from this age requirement. Applicants must have graduated from an accredited university or passed an equivalent test.

So as you will be 21 years old in 2025, you are eligible for SBI PO exam.

Thank you

Hope this information helps you.

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