Government Banking jobs are aspirants’ favourite because of a number of reasons. Mainly the reasons are: job security and good salary which come along with a banking job with a government bank. Other factors are the perks & benefits of a government banking job. In this article, we have come up with a list of the highest-paid banking jobs which are available in India. Basically, we will be targeting entry-level jobs. This list of highest paid banking jobs will definitely help you in narrowing down the job which you would like to prepare for. Before getting started with the highest-paid banking jobs, let’s have a look at the benefits of banking jobs.
Below are all the advantages government banking jobs offer. Have a look:
All of these factors are easy to understand and require no further explanation. It’s because of these factors that there are a lot of aspirants striving for government banking jobs. And the competition for the government jobs keeps on increasing year on year. This article on highest-paid banking jobs has been written keeping these very aspirants in mind. Let’s get started.
The Reserve Bank of India is undisputedly known as Bank of Banks. It conducts exams annually for the recruitment of RBI Grade B Officer. This year, the recruitment process of this profile got ended in the month of May 2021. This is a coveted profile and hence there is intense competition for these vacancies. Let’s have a look at the salary details of an RBI Grade B Officer.
RBI Grade B Salary Details
| RBI Grade B Salary – Basic Pay | Rs 35,150/- p.m |
| RBI Grade B Salary – Scale | 35150 – 1750(9)– 50900-EB-1750(2)-54400-2000(4)-624000 |
| RBI Grade B 2021 Salary – Allowances | Dearness AllowanceHouse Rent AllowanceLocal AllowanceGrade AllowanceFamily Allowance |
| RBI Grade B Salary – Gross Monthly Emoluments | Rs 77,208/- (approx) |
NABARD (National Bank for Agriculture and Rural Development) conducts regular recruitments for Grade B & Grade A Officers. A job at NABARD is considered at par with that of RBI. Have a look at the salary of NABARD Grade B & Grade A Officers. NABARD Grade B Officers have a basic salary of 35150/- p.m. within the scale of 35150 – 1750 (9) – 50900 – EB – 1750(2) – 54400 – 2000 (4) – 62400. At present, initial monthly Gross emoluments stand at approximately Rs.66,864/- per month. Besides this, the Perks and Allowances of NABARD Grade B Officer are Bank’s accommodation subject to availability, reimbursement of miscellaneous items like newspaper, internet, book grant, other allowances, dispensary facility, leave travel concession etc.
On the other hand, the total CTC of a NABARD Grade A is around 14 lakh. And the basic salary of a NABARD Grade A is Rs 28,150 per month in the pay scale of 28150 – 1550(4) – 34350 – 1750(7) – 46600 – EB – 1750(4) – 53600 – 2000(1) – 55600. Additionally, a NABARD Grade A is eligible for Dearness Allowance, Local Compensatory Allowance, House Rent Allowance and Grade Allowance as per the existing rules. The in-hand salary of a NABARD Grade A would be approximately Rs 61,000 but this will also depend on the place of posting.
SBI (State Bank of India) is one mass recruiter in the banking space. It’s the only public sector bank which gets its own exam conducted by IBPS for PO & Clerk recruitment. Remaining banks (like Punjab National Bank, India Bank etc.) get a joint exam conducted by IBPS. Some exceptions are the banking exams which also entail a banking course for eg. Bank of Baroda Manipal PO exam. Banking aspirants desperately wait for SBI PO recruitment notification every year. Let’s have a look at SBI PO salary details. The starting basic pay is Rs. 27,620/- (with 4 advance increments) in the scale of Rs. 23700-980/7-30560-1145/2-32850-1310/7-42020 and this is applicable to Junior Management Grade Scale I. From time to time they are even eligible for a lot of other allowances benefits including DA, HRA, Medical etc. As far as the total compensation is concerned it is a minimum of Rs. 8.20 lacs and a maximum of Rs. 13.08 lacs per annum. Moreover, it is dependent upon the place of posting and various other factors.
As mentioned above, apart from SBI, all other public sector banks get a joint exam conducted by IBPS for Probationary Officer recruitment. These banks are: Canara Bank, Indian Overseas Bank, Central Bank of India, UCO Bank, Bank of Baroda, Punjab National Bank, Union Bank of India, Bank of India, Indian Bank, Punjab & Sind Bank, Bank of Maharashtra. IBPS releases an annual notification for the PO posts in these banks. Let’s have a look at an IBPS PO’s salary details. The basic salary of an IBPS PO is around Rs 23,700 and the salary in hand is around Rs 39,000-42,000 depending on the place of posting and the recruiting bank. The allowance & perks which a Bank PO is entitled to are: Dearness Allowance, Special Allowance, City Compensatory Allowance, House Rent Allowance etc.
Along with Grade B, RBI also releases notification on a regular basis for RBI Assistant. This is also a good way to make an entry into the Banker’s Bank. Every year lakhs of aspirants apply for the lucrative RBI Assistant vacancies. Have a look at an RBI Assistant’s salary details. RBI Assistants will be drawing a basic pay of Rs 14,650/- per month (i.e. ₹ 13,150/- plus two advance increments admissible to Graduates) in the scale of ₹ 13150 – 750(3) – 15400 – 900(4) – 19000 – 1200(6) – 26200 – 1300(2) – 28800 –1480(3) – 33240 – 1750(1) – 34990 (20 years). Presently the initial monthly Gross emoluments for Assistants approximately ₹ 36091/-.
Other allowances include House Rent Allowance, Dearness Allowance, City Compensatory Allowance, Transport Allowance etc.
SBI Clerk notification almost arrives on an annual basis. This year, the number of vacancies are 8,000 in number. It is a good opportunity for banking aspirants to enter the banking world. Let’s have a look at the salary details of an SBI Clerk. The salary of an SBI Clerk will depend upon a number of factors. In a city like Mumbai, the salary will be around Rs 25,000. The pay scale is 11765-655/3-13730-815/3-16175-980/ 4-20095-1145/7-28110- 2120/1- 30230-1310/1-31450. This simply means that you will have a starting salary of Rs 11,765 with an annual increment of Rs 655 which will continue until the next 3 years. After 3 years your basic salary would have become Rs 13,370 and this calculation goes on until your basic salary becomes Rs 31,540 which is the maximum salary an SBI Clerk can get. There are other allowances as well.
As discussed in the above paragraphs, apart from SBI, all other public sector banks get a joint exam conducted by IBPS for Clerk recruitment. Details of IBPS Clerk Salary are following: The basic pay of an IBPS Clerk is Rs 11765/- and the Gross Salary is around Rs 19000 to 21000/-. The Payscale is 11765– 655/3- 13730- 815/3- 16175980/4- 20095- 1145/7- 28110- 2120/1- 30230- 1310/1- 31540. Other allowances and special pay are also there such as House Rent Allowance, Travel Allowance, Dearness Allowance, Medical Allowance etc.
This is all from us in this article of highest-paid banking jobs. We hope that this article will make your task of selecting the right government banking jobs easier. Wishing you good luck with your preparation. We encourage you to jot down your thoughts in the comment section below.
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