Which Bank post offers highest salary-Bank PO vs Clerk vs SO

Millions of candidates fill application forms of different Bank exams every year in India, and dream of becoming Bank POs and Clerks. Bank employee’s salary has been undoubtedly one of the major driving forces for the candidates to opt for a career in the banking sector.

This article will shed light on the salaries of Bank PO, Clerk, and SO.

Bank PO Salary

The salary of a Bank PO includes many advantages coupled with the basic monthly salary he receives.  A good salary package and career growth is the main attraction for most candidates who cherish a desire to join as a Bank PO (Probationary Officer). A Probation officer (PO) is an Assistant Manager of Scale I in the bank. The salary of Bank PO differs for various Banks.

We will discuss here:

1. Bank PO salary for SBI
2. Bank PO salary for IBPS

Bank Clerk Salary

The Bank Clerk salary also different for different banks or Banking regulatory bodies. We will discuss here:

1. Bank Clerk Salary – SBI
2. Bank Clerk Salary- IBPS

Bank PO Salary

A Probation officer (PO) is an Assistant Manager of Scale I in the bank. The salary of Bank PO is different for Indian bank PO salary varies for various posts like

• SBI
• IBPS

The State Bank of India offers the highest salary range among the Public Banks in India.

SBI PO salary structure is as follows:

The basic pay for SBI PO Rs. 27,620/- with 4 advance increments. The minimum compensation per annum is Rs. 7.55 lakhs, whereas the maximum compensation is Rs. 12.93 lakhs. It also depends on the place of posting and the other factors. In the annual package pf SBI PO salary, the various inclusions are basic salary city compensatory allowance, Dearness allowance, Petrol, Food allowance, Tax & PPF, and Compensation for bank stationery. In addition, the accommodation is provided if it is available at the place of your posting.

Read & Know: How to prepare for SBI PO in just 40 Days?-10 Daily Mantras, Success Guaranteed!

IBPS PO Salary

IBPs or Institute of Banking Personnel Selection is the recruiting body for the post of IBPS PO. In it, all the participating public sector banks follow its salary structure, which is different from the SBI salary. Candidates also see it as good and secured job in the public banking domain. The IBPS PO exam is commenced to select POs (probationary officers).

Given below is the salary structure for IBPS PO:

The basic pay for IBPS PO is Rs.23,700/- per month, plus there are other benefits like special allowance, dearness allowance and HRA. Thus, the total compensation becomes Rs. 38,703.38 per month. Plus, the gross annual CTC, including HRA (without leased accommodation) is Rs. 5,57,640.52

Cooperative Bank PO Salary

Cooperative Bank banks facilitate the transactions of small-industries and self-employed workers. Regulated by RBI (Reserve Bank of India), the Cooperative Banks have set the basic pay of the around Rs.30,000/- for Cooperative Bank POs. Different states offer different salary packages Cooperative Bank POs.

Private Bank PO Salary

In terms of the payscale, the Private Bank PO salary structure is almost similar to the public sector Pos. The basic salary of a Private Bank PO is around Rs.35,000/- per month, which differs from bank to bank.

Bank Clerk Salary

The Bank Clerk salary also differs from bank to bank. Let’s compare two main Bank Clerk Salaries below:

1. Bank Clerk Salary – SBI
2. Bank Clerk Salary- IBPS

SBI Clerk Salary

SBI offers a handsome salary for its SBI Junior Associates at the entry-level with various perks. Therefore, SBI provides a better basic salary than other Banks. SBI Clerk salary is ₹33,300 per month.

The revised SBI Clerk salary is as follows:

Rs.17900-1000/3-20900-1230/3-24590-1490/4-30550-1730/7-42600-3270/1-45930-1990/1-47920

The starting Basic Pay is Rs.19900/- (Rs.17900/- plus two advance increments admissible to graduates)

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IBPS Clerk Salary

IBPS Clerk Salary is the sum of Basic Pay and other Allowances like HRA (House Rent Allowance and Dearness allowances etc.) The first Basic Pay for IBPS Clerk 2021 is Rs 11,765.

IBPS Clerk Payscale is 11765-655/3- 13730-815/3- 16175-980/4- 20095-1145/7- 28110-2120/1- 30230/1310-1- 31540.

The minimum Basic Pay for IBPS Clerk is Rs 11,765 while the maximum is Rs 31540.

Cooperative Bank Clerk Salary

The basic salary of the Cooperative Bank Clerk is around Rs.10,000/- during training period for six months. After this, the basic pay comes around Rs. 20,000 per month.

Private Bank Clerk Salary

Private banks do the bank clerk recruitment as per their guidelines. The basic pay in the clerical cadre of a Private Sector Bank is around Rs.18,000/- to Rs.20,000/ per month. In addition to the basic salary, the employees are entitled to various perks and allowances.

IBPS RRB Salary

The IBPS RRB bank posts are of many types. The most popular and sought-after posts are: office assistants and officer scale I, II & III. The Salary structure for office assistant is in the range of Rs. 7200-400/3-8400-500/3-9900-600/4-12300-700/7-17200-1300/1-18500-800/1-19300. Rs 19000- Rs 22000 is the cash in hand for new joiners.

You may also like to read: Must-Do English Topics-RRB Clerk/PO Mains Exam 2021

Given below is the salary range of both Officer (PO) and Office Assistant (Clerical) post in the Regional Rural Banks of our country:

Also read: Score 35 + Marks in Computer Knowledge-RRB PO Mains

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Bank SO Salary

The Bank Specialist Officer salary varies from bank to bank and the salary structure for the Bank SO is given below:

SBI SO Salary

The State Bank of India Specialist officer (SO) is divided into two scales, Junior Management Grade Scale (JMGS) I and Middle Management Grade Scale (MMGS) II.

Given below is the salaries for these grades:

1. For Junior Management Grade Scale I, the bank salary structure is Rs.23700-980/7-30560-1145/2-32850-1310/7-42020, and 73600 is inclusive of leased rental at Mumbai.
2. For Middle Management Grade Scale II, the bank salary structure is Rs.31705-1145/1-32850-1310/10-45950, and 90700 is inclusive of leased rental at Mumbai.

IBPS SO Salary

Institute of Banking Personnel Selection conducts IBPS SO exams to recruit candidates as Specialist Officers Post for Officer Scale I, Officer Scale-II, Officer Scale-III pay scale is covered under the IBPS SO salary. Given below is the salary structure of these three posts:

Officer Scale I: The salary structure of Officer Scale I is in the range of Rs. 23700-980/7-30560-1145/2-32850-1310/7-42020.

Officer Scale I officer gets a salary of around 36400/- per month (including dearness allowance and HRA).

Officer Scale-II: The salary structure of Officer Scale-II is in the range of Rs. 31705-1145/1-32850-1310/10-45950.

Officer Scale-II officer gets the basic salary of Rs. 48800/- per month (including dearness allowance and HRA).

Officer Scale-III: The salary structure of Officer Scale III is in the range of Rs. 42020-1310/5-48570-1460/2-51490.

Officer Scale-III officer receives a total salary of about Rs. 64600 per month (including dearness allowance and HRA).

Conclusion

Now that we have discussed all the salary packages of Bank PO, Clerk and SO Exams, we can easily come to the conclusion as to which posts offers highest salary. We hope that this article will help you in making a well-informed choice while selecting the right post. You can decide for yourself which posts you want to opt for as a career. If you have already chosen SBI Clerk Exam and are looking to accelerate you preparation, you can just grab the SBI Mock Tests.

We Wish you good luck with your preparation!

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