IBPS SO Salary 2020: Job Profile, Perks & Promotions, In-hand Salary After 7th Pay Commission

Institute of Banking Personnel Selection (IBPS) is an autonomous body that operates as a Personal Selection Body for Nationalised and Rural Banks. IBPS SO examination is conducted by IBPS every year to fill up the post as a Specialist Officer in the categories mentioned in this article. The IBPS SO Salary received by an employee is very lucrative. This year also it released 1500+ vacancies to recruit personnel in Specialist Officers’ Cadre for six posts. Working as a Specialist Officer is a highly reputed job that demands special qualifications for the six different posts.

This article covers Post Wise Salary, Salary In Hand After 7th Pay Commission, Job Profile, Growth Opportunities, Perks, and Other Benefits.

The following table shows the 6 posts for which IBPS SO Recruitment 2020 has been made.

IBPS Specialist Officer Posts 1. I.T. Officer (Scale I)
2. Agricultural Field Officer (Scale I)
3. Rajbhasha Adhikari (Scale I)
4. Law Officer (Scale I)
5. HR/Personnel Officer (Scale I)
6. Marketing Officer (Scale I)

IBPS SO Salary: Job Profile

The type of work performed by each Specialist Officer varies from post to post. Given below are the type of works performed by each one of them.

Post Work Profile
Agriculture Field Officer
  • Promote rural banking and generate lead.
  • Understand the core and financial needs of people in rural areas.
  • Coordinating with other RRBs, NABARD, and other organizations.
  • Loan inspection and recovery in rural areas.
IT Officer
  • Look after the core banking system.
  • Manage technical issues of the banking system.
  • Develop and modify the software.
  • Look after the security systems of the bank to avoid cybercrimes.
Rajbhasha Adhikari
  • Proofread and translate important documents used in the banking system.
  • Conduction of language-related workshops.
  • Promote and train employees in the local language.
Law Officer
  • Handle all the legal affairs of the bank.
  • Represent the bank in case of a suit filed.
  • Monitor errors and authenticity of the banking system.
HR/Personnel Officer
  • Maintenance of employee database.
  • Conducting the process of recruitment.
  • Performance and evaluation of employees.
  • Designing welfare schemes, promotion, and compensation of all employees
Marketing Officer
  • State or region wise marketing and promotional activities.
  • Increase profit through cost-effective methods.
  • Promote his bank, increase customers and bring new business deals.

IBPS SO Salary In Hand

The successful candidates of IBPS SO will be placed in the Junior Management Grade Scale I Cadre. The pay scale for all the posts is more or less similar. The following will give you an idea of the IBPS SO 2020 In-Hand Salary after the 7th Pay Commission.

IBPS SO Basic Pay is Rs 23,700. The pay scale for IBPS SO is 23700-980(7)-30560-1145(2)-32850-1310(7)-42020

Allowance Values/Remarks
Dearness Allowance 36% Approx. Rs 8600/
House Rent Allowance As per the place of posting of the candidate, it is between 7% to 9%.
Special Allowance It is the incentive or performance-based bonus given to each employee.
It is about 7.75% of DA+Basic.
City Compensatory Allowance As per the place of posting of the candidate, it is between 0% to 4%
Lease Allowance In lieu of HRA, lease accommodation is optional and can be availed up to Rs29,500/ as per the place of posting.
PF Contribution It varies between Rs 3000/ to Rs 3500/
In-Hand Salary The gross salary of IBPS SO is Rs 38000/ to Rs 39000. After all the deductions, the employee gets
Rs 33000/ to Rs 35000/ as an IBPS SO.

IBPS SO Perks & Benefits

Apart from the attractive salary that is offered, an IBPS SO is entitled to other perks as well. It includes a Newspaper allowance, Medical allowance, Entertainment allowance, House and furniture allowance, etc.

IBPS SO: Promotion Policy

All the successful candidates who are selected for Scale-I and Scale-II posts and will undergo training, workshops, assessments to improve their skills and be eligible for promotions. Based on the work performance, IBPS SO gets promotion in his career to raise his standard of living. Given below is the list of hierarchy that is followed in IBPS SO promotions.

  1. Junior Management- Scale 1, Officer/ Assistant Manager
  2. Junior Management- Scale 2, Manager
  3. Middle Management- Scale 3, Senior Manager
  4. Senior Management- Scale 4, Chief Manager
  5. Senior Management- Scale 5, Assistant General Manager
  6. Top Management- Scale 6, Deputy General Manager
  7. Top Management- Scale 7, General Manager

5 Reasons Why You Should Join IBPS PO

  1. Great Pay Scale
  2. Fair Chances of Promotions
  3. Fewer Chances of Job Transfer
  4. Security and Flexibility of Job
  5. Amazing Incentives, Perks and Other Allowances

So, kick start your preparations for a bright and secured future as an IBPS Specialist Officer.

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