Bank Po Salary 2017| What are the benefits of Being an IBPS PO vs PO in ICICI or SBI Bank

Bank PO Salary

Banking sector is most preferred field for studies, even for employment and if you want to enhance career in banking sector as PO then you must be aware about Bank PO Salary. As here on this page, we are going to provided detailed info reflecting different facets on IBPS PO Salary Structure Vs PO in ICICI or SBI. After the amendment on 7th Pay Commission, various updations have been made in the Salary Structure of employees in bank. According to the updations made, Bank employees can expect a hike in their pay scale. This decision is taken keeping in mind the stipulation of bank employees that comes into consideration by the 11th Bipartite Settlement. Aspirants who want to get pin pointed details about Bank PO Salary 2017 can go through this single page and avail different aspects of salary, allowances for different banks.

Bank PO Salary

Bank PO Salary

Bank Salary After 7th Pay Commission

According to 7th Pay Commission, government has come up with new changes and developments. Average ratio of All India Consumer Price Index for Industrial workers (Base: 1960=100) is expected to be at 6777 for the quarter ending 30th September, 2017 (assuming that the annual inflation will be 6% for the next 2 years). As per this, the Dearness allowance on the basic pay will be pared at the rate of 58.40% as on 31st January 2017.

However, it is predictable that the whole amount related to D.A. outstanding will be compounded as is being done in the case of Central Government Employees. After making these modifications, the entire Dearness allowance will comes up with 58.40% that will be merged with the existing basic pay, at the time of next wage revision. Along with this Special Allowance is also merged with the existing basic pay. Therefore on this amount, 40% increment has provided and fixed as revised Basic Pay. It is then rounded off to the next higher 100.

Bank PO Salary After Revision

Salary Head Current Amount Payable Revised Amount Payable
Basic Pay (BP) Rs. 14,500 Rs. 27, 865 (With 20% Increase)
Dearness Allowance (DA) Rs. 12,781 Rs. 10,839
House Rent Allowance (HRA) Rs. 1,087 Rs. 2,786
TOTAL In Hand Salary Rs. 28,368 Rs. 41,490

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PO Salary After 11th Bipartite Settlement:

Below given is the salary after 11th Bipartite Settlement, have a look!!!

Increment (Percentage) Basic Pay Total Gross Salary
15 Rs.26,706/- Rs.37,068/-
20 Rs.27,866/- Rs.38678/-
25 Rs.29,026/- Rs.40,288/-
30 Rs.30,187/- Rs.41,899/-

 IBPS PO Salary Structure Vs PO in ICICI or SBI

Work Pressure: Both banks have almost similar Work pressure. As, we all know most of the people desire to on go their career in banking sector resulting to stand on the position of Probationary Officer. All banks have same amount of Work Pressure, as bank PO jobs is very demanding.

Career Progression: IBPS, SBI as well as ICICI Bank, all three of them provides various chances to grow, expand and along with different promotion opportunities. Therefore, of we examine this dilemma, we can clarify that all three banks offers expanding and out showing Career Progression.

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Salary and Emoluments for IBPS PO

Salary of Probationary officer has got an exponential swift after introducing 11th bipartite settlement, accredited by the whole banking sector. As a result, it is hiked up to 8 lakh per year for IBPS PO. However, other public banks have cop up as PO with a salary ranging from 5 to 5.5 Lakhs per annum. Thus, it creates a buzz among the youths of 21st century and pushes them to try their fortune in banking sector once!!! Along with the basic salary of Rs. 23700/- per month, it contributes Rs. 10163.63/- to DA, Rs. 1836.75/- to Special Allowance and Rs. 2500/- towards Pension funds.

Allowances Amount
Basic Pay Rs. 23700.00/-
Special Allowance Rs. 1836.75/-
DA Rs. 10163.63/-
CCA Rs. 870/-
Transport Allowance
Total (without HRA) Rs. 36570.38/-
HRA Rs. 2133.00/-
Gross with HRA Rs. 38703.38/-
Medical Aid Rs. 8000/-
Entertainment Rs. 500/-
Newspaper Rs. 300/-
Petrol Rs. 3000/-
Telephone Rs. 400/-
Canteen Subsidy Rs. 400/-
Pension Contribution Rs. 2500/-
Gross Annual CTC (with HRA but without leased accommodation) Rs. 5,57,640.52/-

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Salary and Emoluments for ICICI PO/SBI PO

Currently, ICICI is one of the highest ranking private bank in which most of the candidates want to enhance their career path. Most of the youths want to be a part of this bank in order to identify the nuance of private sector banking. The salaries of Probationary officer in these banks are half from IBPS PO. The breakup of monthly salary of ICICI PO post is given as below. Have a glance!!!

Allowances Amount
Basic Pay  Rs. 11000/- pm
House Rent Allowance  Rs. 5000/-
Conveyance Allowance  Rs. 2500/-
Superannuation Allowance  Rs. 1650/-
Leave Travel Allowance  Rs. 2000/-
Additional HRA Allowance  Rs. 3125/-
Canteen  Rs. 1300/-
Medical  1250/-
PF & Gratuity  Rs. 2236/-
Performance Pay  Rs. 45000/-

Benefits and allowances that are offered by the banks also play an important role while making a choice between different banks. Though, IBPS pays profoundly high to its top brass, they tend to pay their officers like PO and clerks quite less an amount. So, make a great choice while choosing these three. We hope that, you will get satisfied with above stated info about Bank PO Salary. For more updates, build a strong connection with us.

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