IBPS PO 2023 Job Profile, Salary Structure & Special Allowances

IBPS PO 2023 notification is now out with 3049 vacancies.  Those who are preparing for the IBPS PO 2023 exam must be knowing the importance of preparing for the exam well in advance as this is a competitive examination and a lot of hard & smart work is required to crack this one in the very first attempt. As far as the IBPS PO exam dates are concerned, the IBPS PO prelims exam will be held in the months of September/ October 2023. Though, the exact dates are not out yet, however knowing the exam is more than a month away, aspirants must start preparing for the exam starting today. It is the time when aspirants must start with clearing their concepts and can start preparing by creating a study plan for the same. Many aspirants those who probably are trying for IBPS PO 2023 for the first time may be curious to know IBPS PO salary and job profile etc. In this article we will be discussing about the IBPS PO 2023 Job Profile, salary structure & special allowances and Career Growth.

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Let’s take a look at the IBPS PO 2023 exam dates first:

IBPS PO 2023 Exam Dates

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Now coming to the IBPS PO 2023 job profile, salary structure and allowances.

IBPS PO 2023 Job Profile

Once a Bank PO is selected, he has to undergo a probation period for 2 years. during which you will be posted at different branches. Once you complete this probation period successfully, you will be posted as an Assistant Manager in that very bank. Mentioned below are the job profile and responsibilities of an IBPS PO.

• Customer Relationship – To deal with customers and maintain & supervise the regular branch activities
• To work on daily transactions such as passing a cheque, draft issuance, cash management etc.
• ATM/Accounts Related Queries – To issue ATM cards, chequebooks, Demand Drafts etc.
• To look after public relations, address customer related issues and grievances, for eg. discrepancies in accounts
• To approve and monitor daily branch and customer transactions
• Loan Processing – To take care of the loan related documents and to perform on-site visit of the loan applicants as and when required
• To work towards increasing the business of the bank viz. managing cash flow, loans and mortgages and finances
• To supervise the clerical work, take decisions for the benefit of the bank, etc.
• To be aware of the policies and decisions made by the management and to implement those in the functioning of his branch.
• To do the planning, budgeting, marketing, loan processing and approval, investment management etc. depending on the work assignment
• To be aware of all the latest developments of the bank, to read all the circulars and know about all the decisions taken by the bank management.

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IBPS PO 2023 Salary structure

Salary is one thing that may excite candidates in being a part of a particular organization. Being a good profile, the basic salary of IBPS PO is around 36,000. The IBPS PO 2023 salary structure is like:

23700 – (980 x 7) – 30560 – (1145 x 2) – 32850 – (1310 x 7) – 42020.

The salary bifurcation is as follows: The Basic Salary of IBPS PO after 7 Years – Rs 30,560 Basic Salary of IBPS PO after 7 + 2 Years – Rs 32,850 Basic Salary of IBPS PO after 7 + 2 + 7 Years – Rs 42,020

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IBPS PO 2023 Special Allowances

Other than the salary part, an IBPS PO is entitled to lot of extra perks and benefits which includes the following:

· House Rent Allowance (HRA) It can be 9.0% or 8.0% or 7.0% of the basic salary depending upon the place of posting and it even depends upon the city in which you are posted.

· Dearness Allowance (DA) DA is given as a percentage of the basic salary and it varies based on inflation rates. Currently, it is approximately 36.8% of the basic salary and the DA is revised every three months based on the All India Consumer Price Index data.

· Special Allowance (SA) It is around 7.75% of the basic pay

· City Compensatory Allowance which is again based on the type of city and that can be 3% or 4%.

Apart from these allowances there are:

• Leased accommodation
• Medical reimbursement
• Pension scheme
• Travel allowances
• Telephone
• Benefits under the New Pension Scheme
• Petrol etc…

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IBPS PO 2023 Career Growth Path 

The growth or career path for any banking job depends upon your performance and the kind of effort you put in. Same is the case with IBPS PO. Though, there is a huge potential as far as growth opportunities are concerned, but the work has to be in that direction only. You can be promoted to the post of General Manager within a span of just 14 years provided you work hard. Not just this, promotions can take you to different parts of the country and maybe abroad as well. A number of these public sector banks have branches in foreign countries. The IBPS PO 2023 career growth is mentioned below:

· Middle Manager – Middle Management Grade Scale 2

· Senior Manager – Middle Management Grade Scale 3

· Chief Manager – Senior Management Grade Scale 4

· Assistant General Manager – Senior Management Grade Scale 5

· Deputy General Manager – Top Management Grade Scale 6

· General Manager – Top Management Grade Scale 7

· Executive Director

· Chairman and Managing Director 

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IBPS PO Posts-Participating Banks

Here we have listed out the leading banks participating in IBPS PO Posts 2023:

• Canara Bank
• Allahabad Bank
• Syndicate Bank
• Indian Overseas Bank
• Andhra Bank
• Oriental Bank of Commerce
• Central Bank of India
• UCO Bank
• Corporation Bank
• Bank of Baroda
• Punjab National Bank
• Bank of India
• Union Bank of India
• United Bank of India
• Punjab and Sind Bank
• Bank of Maharashtra

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In a nutshell, IBPS PO is one of the best entry-level jobs in the banking sector with a lucrative pay package and attractive growth opportunities. What’s more, you also learn a lot of things in this job. So, what are you waiting for? Start preparing for the same today as you already have the IBPS PO 2023 exam dates with you. Sign up for a free mock test of IBPS PO 2023 now.

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