What is the Salary of Bank PO in SBI BankADVERTISEMENT
Banking is one of the most promising sectors in India, as far as employment is concerned. The government of India has relaxed the norms for entry of banks in the country, which means, even more employment opportunities are going to open up in the sector in the near future.
With more private banks set to enter the economy, the competition is going to go up, which means, public sector banks too would need to be on their toes. Increased competition always means a better employment scenario, since companies vie for the best talent out there.
State Bank of India is the leading public sector bank in the country. In a bid to face the increasing competition, it has consolidated its associates. According to the finance ministry of India, it is also supposed to go on a hiring spree from next year onwards, looking for talent out there.
Salary of SBI PO
While SBI is the leading public sector bank in the country, often, the question between public and private sector remains that of salary. Here is what you can expect to get if you are hoping to get placed as a probationary officer in SBI.
The pay scale of probationary officers is INR 10,000-18,240. The starting salary in SBI for probationary officers is somewhere around INR 14,000. This amount is the basic salary. Other than the basic salary, you are also entitled to perks such as dearness allowance, CCA, HRA etc. The slabs for these perks vary over time.
For example, dearness allowance is around 70% of the basic salary. However, it fluctuates according to the rate of inflation. Similarly, CCA is around 3-4% of basic salary while HRRA is around 85% of basic salary.
Apart from all that, you also get entertainment allowance, conveyance allowance, cleansing material allowance, medical aid, insurance etc.
Thus, if you add up your basic salary and all the perks that you get, your take home salary as a PO in SBI is somewhere around INR 26,000 per month.
The increments are good too
SBI PO also gets lucrative increments. In fact, you get four increments at the very beginning of your career itself. The increments mean you get at least INR 3,000-4,000 more per month than PO of other banks.
Advantage of an employee centric atmosphere
Salary is not the only benefit of working as a PO in SBI. The public sector also gives you the advantage of better working conditions. Although the competition is heating up, the work environment in SBI and other public sector banks still isn’t too stressful. You have easier targets to meet, more sane working hours, and less competition as public sector organizations have a set pattern for promotions.
Thus, if you are looking to make a career in the banking sector, you should give SBI a whole hearted shot. SBI doesn’t participate in IBPS exams though. You need to sit for a separate exam in order to make it to SBI.