IBPS PO Job Profile, Pay Scale, Career Prospects: The Institute of Banking Personnel Selection (IBPS) has released the official notification for IBPS CWE PO/ MT Recruitment 2017. IBPS will be conducting written examination for the recruitment of Probationary Officer in Public Sector Banks.
As the IBPS PO exam is approaching, it is time for the candidates to start the preparation. In order to keep you motivated for the exam, we have come up with this article focusing on IBPS PO Job Profile, Roles, and Responsibilities, Pay Scale, Career Prospects, Growth, Opportunities etc.
Let’s start by understanding the selection process of IBPS PO, followed by the roles and responsibilities, salary and career path of probationary officers.
IBPS PO Selection Process 2017
The Selection Procedure for recruiting Probationary Officers through IBPS Recruitment Examination is a 3-Tier Process.
- Tier I- IBPS PO Prelims Examination
- Tier II- IBPS PO Mains Examination
- Tier III- Interview
A candidate needs to qualify at each level in order to move to the next one. For a complete information regarding the IBPS PO exam pattern and selection process, follow this link.
IBPS PO Job Profile: Roles and Responsibilities
The post of a probationary officer is the most popular choice for all of the bank aspirants. The job offers high career growth and prospects for a bright future in banking. Typically, a bank PO undergoes a 2 year probation period or training and then gets the post of Assistant Manager on joining a branch. During this period, officers are assigned various responsibilities and roles such as:
Providing Service to Customers: In many branches of public sector banks, a probationary officer will be asked to assist customers in various services such as opening new bank accounts, handling cash receipts, depositing money etc. The responsibility of issuing ATM cards, cheque books, Demand Drafts etc. is also assigned to probationary officers.
Expanding Business: As an IBPS PO, you need to interact with customers directly. During this process, you need to promote various products and services of the bank and its partners such as fixed deposits, mutual funds, insurance policies etc.
Handling Cash and Customer Complaints: You may be required to perform clerical work or activities related to the bank. You should be able to control the ATM activities as well. Another responsibility of IPBS PO job profile is to work as public relations officer and handling customer complaints. You will have to address various customer related issues such as rectification of undue charges, discrepancies in accounts etc.
Reporting Verification: As a probationary officer, you will be assigned to generate reports which may include deposits, withdrawals, ledger balances etc. You will have to manually verify each transaction and record the changes found.
Communication: It is important that a PO should be aware of the latest developments of the bank. You will have to send official letters and e-mails to other departments and ensure a free flow of communication.
You need to follow these responsibilities effectively as well as efficiently to maintain your position of IBPS PO.
IBPS PO Salary Perks and Allowances
After knowing about the roles and responsibilities in a typical IBPS PO job profile, you must be curious to know the salary. In most of the public sector banks, Salary of PO is almost same. Thus, CTC will vary from bank to bank and place of posting. Current, revised basic pay of PO:
23700 – (980 x 7) – 30560 – (1145 x 2) – 32850 – (1310 x 7) – 42020
For your better understanding let’s breakdown the basic pay, fixed salary, and perks of probationary officers.
IBPS PO Salary
In most of the public sector banks, the first term of the pay scale Rs 14500/- is the initial basic pay of Bank PO. The second term in the pay scale shows that officers can get up to 7 increments worth Rs 600/- each. The third term involves 2 increments worth Rs 700/- rupees. Similarly, the fourth term in the pay scale will mean that a Probationary Officer can get 7 more increments worth 800/- each
This means that the total salary which an IBPS PO can draw after completion of all the terms will be Rs 25,700. After adding all the allowances, the total salary will be approx Rs. 42,000. Let us see the perks & allowances breakdown:
IBPS PO Perks and Allowances
- Dearness Allowance: The latest DA allowance in banks is 39.80% of the Basic Pay.
- House Rent Allowance: This varies according to Bank PO’s place of posting and can be 9.0% or 8.0% or 7.0%depending upon metros, big cities, and other locations.
- City Compensatory Allowance: This also depends on the place of posting and can be either 4% or 3 % or 0%.
- Reimbursements: The limit for the room rent reimbursement is Rs 700/- per day. Other than this, he is also eligible for Rs 8000/- as medical aid every year. You can also avail Leave fare concession for medical or non-medical purposes. Leave fare concession will reimburse travel expenses for 4000 km.
- Annual Increment: Rs. 980, it will be applicable for a period of 7 years.
- Special Allowance: In the latest revision, a special allowance has been added to the salary structure of Bank PO. In addition, it is 7.75% of the Basic Pay.
- Other Perks: Petrol expenses up to 35 Litre and news paper expenses up to two newspapers. There are also other reimbursements like telephone and entertainment expenses.
IBPS PO Job Profile: Growth Opportunities
In IBPS PO, the career growth is quite extensive and lucrative. Once you finish your probation or training period of two years, you get promotion of becoming Assistant Manager. Once you cross the middle management ladder, you get to the post of Chief Manager.
On an average, a bank officer becomes eligible for promotion in every 3-4 years. The highest position which the probationary officer gets promoted to is General Manager. In rare cases, one can see a promotion to the post of Managing Director as well. Although this happens in rare situations, one can not let the hope die.
Apart from fast promotions, IBPS PO enjoys various facilities provided by the respective banks such as housing loans, car loans, personal loans with comparatively lesser monthly installments.
Another aspect of joining as an IBPS probationary officer is that you get transfers every 5 years and you get to choose from a variety of bank locations listed below:
|Name of the Bank||Headquarters|
|Bank of Baroda||Vadodara|
|Bank of India||Mumbai|
|Bank of Maharashtra||Pune|
|Central Bank of India||Mumbai|
|Indian Overseas Bank||Chennai|
|Oriental Bank of Commerce||New Delhi|
|Punjab National Bank||New Delhi|
|Punjab & Sind Bank||New Delhi|
|Syndicate Bank||Manipal, Karnataka|
|Union Bank of India||Mumbai|
|United Bank of India||Kolkata|
Thus, we can conclude that IBPS PO is one of the most lucrative bank jobs of all. If you enjoy having a respectable secure job with good pay salary and fast track promotions, then, you should definitely opt for the position of probationary officers.
We hope this article provides you with necessary information on IBPS PO job profile. We wish you All the Best in your quest of working as an IBPS PO.
This is all regarding IBPS PO job profile. Stay connected for our next article, where we will talk about the steps to submit the application form online.
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