IBPS SO Salary 2022-2023; Salary structure, allowances and benefits, job profile

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IBPS SO Salary 2022-2023:IBPS SO Salary is one of the most searched topics on the internet today. Candidates preparing for this exam should be aware of the salary received by the Specialist Banking Officer. There are many elements of salary that should be discussed here. Every year, the Bank Personnel Selection Institute conducts the examination for Specialized Officer (SO) in several banks across the country.

The IBPS SO has been a very attractive position for candidates who have been educated in a professional setting. The Specialist Officer has always been in demand in the banking industry due to the admiration and respect they command in the organization. On top of that, they are also liable for multiple allowances and benefits.

Therefore, every candidate who sits for this exam should go through this article to understand the salary, going salary, SO job profile, and all the allowances and benefits they receive during their service. It will also help the candidate to improve their skills before applying for the position.

IBPS SO SALARY

IBPS SO Salary 2022-2023-Salary Structure

The IBPS SO salary is one of the main aspects due to which many students take this exam. The salary of the Specialist Officer varies according to the position and the rank he occupies. According to experts, if the 11th Bipartisan Regulation is implemented, SO employees will enjoy an increase of almost 40% in their base salary.

Generally, the salary of the IBPS SO is according to the scale on which they have been appointed. The table below gives a basic idea about the salaries of the three scales.

Classification IBPS SO Salaries
Scale 1 Officers Rs 36,400 per month salary
Income Scale – Rs. 23700-980/7-30560-1145/2-32850-1310/7-42020
2 Scale Officers Rs 48,800 per month salary
Income Scale – Rs. 31705-1145/1-32850-1310/10-45950
Scale 3 Officers Rs 64,600 per month salary
Income Scale – Rs. 42020-1310/5-48570-1460/2-51490

IBPS SO Salary 2022-2023-Allowances and Benefits

The IBPS SO salary also includes certain allowances and benefits.

Allowances

The allowances have been indicated below with the percentage of deductions. They are the following:

  1. HRA or House Rental Allowance – This can be around 7-9% depending on where you work.
  2. High Cost Allowance or DA – This can be understood as the cost of living in a city. That’s almost 36 percent of the employee’s base salary. If calculated, this amounts to around Rs 8000.
  3. City Compensation Allowance – This allowance is given to applicants living in metropolitan cities. It is around 0 to 4% and depends on the metropolis displayed.
  4. Special Allowance – This may be called a Performance Allowance and may be around 7.75% for 1 SO Scale Officers.

Advantages

There are many benefits to which the specialist officer is indebted in addition to his salary. We list some of them here:

  1. The OS of the banks is entitled to the transport allowance. The meaning of this allowance is that if an agent owns a 4-wheeled vehicle. Then, the agent will receive a fixed amount of fuel charges as well as service charges for the vehicle on a monthly basis.
  2. A lesser known allowance is the log allowance. The officer also receives the journal charges from the bank.
  3. Leave policies are also attractive. Employees benefit from occasional leaves, privilege leaves and numerous medical leaves. For female specialist officers, 6 months of maternity leave are provided. The concept of sabbatical leave also exists for employees.
  4. A Travel Leave Grant (LTC) benefit can also be requested by the employee from the bank.

IBPS SO Job Profile of each Specialist Officer

The IBPS recruits special officers in different fields and for various designations. For the convenience of the student, we have created a table for them. It will be much easier for them to remember the job profile of each specialist officer.

Appointment of a specialized agent Job Profile
Information Technology Officer – They support the central banking system.
– Keep an eye on technical issues and resolve them.
-Also develop software and update it as soon as possible.
-The security of the banking system is the most important task of an IT manager. They are responsible for security against cybercrimes.
Agricultural Field Officer -Responsible for providing banking services to rural areas.
– Often in harmony with rural development organizations and also with NABARD.
Rajbhasha Adhikari -He is the authority responsible for the promotion of the official language.
– Also responsible for proofreading and translating important documents in banks.
legal officer -All legal events fall under its aegis.
-He is the responsible authority representing the bank if a complaint is filed against them or if the bank files a complaint against someone.
Marketing Officer -They are responsible for the marketing carried out in the region and also deal with activities that promote the policies of the bank.
-Helps banks capture commercial offers in the market.
HR/Personnel Manager – Responsible for the database of employees and monitoring their performance.
-Develop pension plans for bank employees
– Manages the promotion and compensation of employees.

Important links

Which specialist officer is the better IBPS SO or SBI SO?

The responsibilities of the IBPS SO and the OS SBI are the same. The critical difference comes when we talk about the salaries of the two.

Is there a concept of negative scoring in the IBPS SO exam?

Yes, the concept of negative scoring is present in the IBPS SO exam. A quarter of the points are deducted for each incorrect answer.

Is there an interview step for this exam?

Yes, the interview is there for this review.

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