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SBI PO Salary


SBI PO 2019 Salary

SBI is one of the largest banking organizations and therefore SBI PO is the most chased job position among the job aspirants. SBI is a big brand name as it is the largest bank in India and it conducts its own exam every year. With the bigger brand name comes a decent salary package, professional work environment, better promotion policy and increased social status.

SBI PO 2019 Salary and Perks

SBI provides an overall compensation salary of up to Rs.12 lakhs per annum. The revised basic pay of SBI PO from 1st January 2016 is: Rs. {23700 – (980 x 7) – 30560 – (1145 x 2) – 32850 – (1310 x 7) – 42020}.

Where Rs. 23700 is the revised basic pay and Rs. 980 is the annual increment that a Bank PO will get and it will be applicable for a period of 7 years. However, Probationary Officers in SBI are paid 4 extra Increments at the time of joining and this creates a difference between any PSB and an SBI PO. Besides this a PO is entitled to Allowances ranging from housing, furniture, book grant to almost everything. Few are listed below:

Dearness Allowance (DA ) for SBI PO

39.80% of the Basic Pay

HRA (varies on place of posting) for SBI PO

8000-29500

Special Allowance allotted to SBI PO

7.75% of the Basic Pay

City Compensatory Allowance(varies on the place of posting)

0-4%

Hence considering HR into account, for SBI PO, salary goes around Rs.45,000 per month.

HRA depends on place of posting, so salary may vary.

Since DA depends on CPI (Consumer Price Index), it can go up with higher inflation and vice versa.

Also, Other PERKS provided are:

  • Medical Aid for self (100%) and for family (75%)
  • Home Travel Concession/Leave Fare Concession
  • Concessional Interest Rates for Housing/Car/Personal Loans
  • Tax and PPF
  • Entertainment, Tea, and Coffee

SBI PO Career Path

Initially, An SBI Probationary officer is designated as Junior Management Grade-1 Officer. He/ she has to go through a probation period of 2 years. After successful completion of training, candidates have to go through the screening process at various levels and follow a career path (as described below) that begins from Middle management scale II i.e.

The career path for SBI PO is as follows:

Scale I

Junior Management Grade Officer i.e. PO

Scale II

Middle Management Grade i.e Manager

Scale III

Middle Management Grade i.e  Senior Manager

Scale IV

Senior Management Grade i.e Chief Manager

Scale V

Senior Management Grade i.e Assistant General Manager

Scale VI

Top Management Grade  i.e Deputy General Manager

Scale VII

Top Management Grade i.e General Manager

Scale VIII

  • Chief General Manager (CGM)
  • Deputy Managing Director (DMD)
  • Managing Director (MD)
  • Chairman

SBI PO: Job Profile

Being the largest bank with the most number of branches, SBI provides an excellent opportunity towards serving the vastest and diverse class of customers. Initially, you get to work as either general banking officer or as a credit officer. These profiles handle work as described below:

General Banking Officer

Credit Officer

  • Provide customer support
  • Handles cash payments
  • Handle customer accounts
  • Enrich banking services
  • Authorise account opening
  • Handle official communication matters
  • Loan authorization
  • Loan disbursal
  • Restrict NPAs
  • Handle customer accounts
  • Loan /credit management

Leased Accommodation

This is available in place of HRA, where the bank provides you with the option of leased housing (where-ever housing facility is available). This option is not available for cash reimbursement. Rent is directly paid to the owner. This varies from Rs.8000 in 'C' group cities to Rs.29500 in cities like Mumbai.

Posting

Since SBI is the largest bank in terms of the number of branches, be prepared to be posted anywhere, in any corner of the country.




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