IBPS PO Salary 2024: The IBPS PO Salary 2024 has been released By the Institute of Banking Personnel Selection (IBPS). The Institute of Banking Personnel Selection (IBPS) provides an attractive package for Probationary Officers Post. The IBPS PO 2024 In-hand salary is 52,000 to Rs 55,000 along with multiple allowances like dearness allowances, special allowances, house rent allowance (HRA), and additional benefits. Candidates can check the details knowledge for IBPS PO salary 2024 including revised pay scale, job description, career opportunities, allowances, and promotion guidelines in the article below.
The 12th Bipartite Settlement, effective since April 2024, has increased the salaries of around 8.8 lakh bank employees. This revision will remain in place until 2024 or until IBPS revises it again. The starting in-hand salary package of an IBPS Probationary Officer comes with a dearness allowance, special allowance, HRA, and other benefits and ranges from Rs 52,000 to Rs 55,000.
The 12th bipartite settlement has agreed to a wage modification for bank employees, which will take effect on April 2024. Basic pay of employees increased by 17 per cent after the 2nd bilateral agreement. The new wage will be in effect for five years, or until 2023, unless IBPS makes changes. After the 12th bipartite settlement was approved, almost 8.8 lakh employees benefited. The compensation of an IBPS PO officer may be increased on a timely basis.
As per the latest settlement, IBPS PO Salary 2024 has a 15% increase in the payslip component for employees. This adjustment is applicable across public sector banks until a new settlement is introduced. Candidates check IBPS PO Salary 2024 Overview in the article below and know all details.
| IBPS PO Notification 2024 Overview | |
| Particular | Details |
| Organisation | Institute of Banking Personnel Selection (IBPS) |
| Post Name | Probationary Officer |
| Vacancy | 4455 |
| Participating Banks | 11 |
| Application Mode | Online |
| IBPS PO Registration 2024 | 1st to 21st August 2024 |
| Exam Mode | Online |
| IBPS PO Selection Process 2024 | – Prelims – Mains – Interview |
| Education Qualification | Graduate |
| Age Limit | 20 years to 30 years |
| Salary | Rs. 52,000 to 55,000 |
| Official website | www.ibps.in |
Upon joining as an IBPS Probationary Officer, the starting IBPS PO Salary 2024 ranges between Rs. 52,000 to 55,000. In the given range of salary, this includes components such as dearness allowances, special allowances, house rent allowance (HRA), and additional benefits. The gross salary before deductions is around Rs. 57,000, resulting in an in-hand salary of Rs. 52,000 to 55,000 after some necessary deductions.
| IBPS Bank PO Salary 2024 | Amount (INR) |
| Basic Pay | 36,000 |
| Dearness Allowance (DA) | 23.87% |
| House Rent Allowance (HRA) | 7%-9% |
| CCA/LOC A | 3% or 4% |
| Special Allowance | 7.75% |
| Other Allowances | Detailed Below |
| Gross Salary | 57,289 |
NET Salary (after deductions) | 52,630 |
Refer to the table below for a quick overview of IBPS PO Salary 2024 Perks & Allowances:
| IBPS PO Allowances | Amount (INR) |
| Basic Pay | 36,000 |
| House Rent Allowances | 7%-9% |
| Dearness Allowance (DA) | 23.87% |
| CCA | 3% or 4% |
| Special Allowance | 7.75% |
IBPS PO Housing Allowance (HRA): The HRA constitutes a segment of the IBPS PO Salary 2024 and fluctuates depending on the city of the PO’s assignment. The percentage can be 9.0%, 8.0%, or 7.0% of the basic salary, contingent on whether it’s a metro city, a major city, or another location.
IBPS PO Dearness Allowance (DA): DA is an allowance granted as a proportion of the basic salary. It undergoes revision every three months, influenced by the inflation rate determined by the All India Consumer Price Index Data released by the Government of India.
IBPS PO Special Allowance (SA): This allowance, constituting around 7.75% of the base pay, witnessed an increment in the recent wage adjustment, becoming effective in November 2017.
IBPS PO City Compensatory Allowance (CCA): CCA varies based on the city type and can be 0%, 3%, or 4% of the basic salary. Apart from these, an IBPS PO enjoys various benefits like Learning Allowance, Travelling Allowance, Newspaper Reimbursement, Medical Aid, and benefits under the New Pension Scheme. When combined, the total IBPS PO Salary in 2024 may reach approximately Rs. 52,000 or more.
Candidates can check the IBSP PO Salary 2024 slip here along with the basic pay, Dearness Allowance, special allowances and many more allowances. Candidates can check salary slip details in the table below.
| IBPS PO 2024 Salary Slip | |
| Parameter | Amount (INR) |
| Basic Pay | 36,000 |
| DA (23.87% of Basic Pay) | 8,593 |
| HRA (7%-9% of Basic Pay) | 3,240 |
| City Compensatory Allowance (CCA)/LOC A | 1,400 |
| Special Allowance | 5,904 |
| DA others | 1,552 |
| Learning Allowance | 600 |
| Professional Tax | 200 |
| Contribution to NPS | 4,459 |
| Gross Salary | 57,289 |
| NET Salary after deductions | 52,630 |
Public sector banks typically adhere to consistent guidelines from the Ministry of Finance, Government of India, for their promotion policy. There are two promotion channels: the standard channel and the merit channel. Complete details can be found in the following link: Promotional Channels for PO in Public Sector Banks.
For an IBPS PO’s Professional Development Officer JMGS I or probationary officers in banks, the salary ranges between Rs. 52,000 and Rs. 55,000. For other Scale officers – MMGS II, MMGS III, SMGS IV, SMGS V.
The role of a Probationary Officer in the banking sector is highly esteemed and sought after by graduates. In this section, we will talk about the work profile, responsibilities, and tasks that a Probationary Officer must undertake post-selection.
The career path for a Probationary Officer is enticing, offering numerous opportunities based on performance, experience, and knowledge. Promotions are attainable through regular participation in IBPS tests.
Participating Banks for IBPS PO 2024 The following banks will participate in IBPS PO 2024:
| Participating Bank for IBPS PO 2024 | |
| S. No. | Bank Name |
| 1. | Bank of Baroda |
| 2. | Bank of India |
| 3. | Bank of Maharashtra |
| 4. | Canara Bank |
| 5. | Central Bank of India |
| 6. | Indian Bank |
| 7. | Indian Overseas Bank |
| 8. | Punjab National Bank |
| 9. | Punjab & Sind Bank |
| 10. | UCO Bank |
| 11. | Union Bank of India |
To reach these positions, candidates must appear in promotional exams conducted by IBPS at different career stages, presenting vast and attractive growth opportunities for an IBPS Probationary Officer.
| IBPS PO Exam Pattern 2024 | IBPS PO Syllabus 2024 |
| IBPS PO Previous Year Question Paper | IBPS PO Cut Off 2024 |
| IBPS PO Preparation Strategy 2024 | IBPS PO Study Plan 2024 |
The basic salary for IBPS PO is Rs. 36,000. For more Information check our article.
Yes, IBPS PO Salary includes perks & allowances. For more information check our article.
The IBPS PO Job Profile details are provided in the article.
Yes, banks may offer performance-based incentives and bonuses to POs.
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