IBPS SO Salary 2022: The Institute of Banking Personnel Selection (IBPS) is a self-governing organisation that acts as a Personal Selection Body for nationalised and rural banks. Every year, the IBPS SO examination is held to fill the position of Specialist Officer in the categories listed in this article. An employee’s IBPS SO Salary is extremely lucrative.
Despite the fact that the IBPS SO notification for 2022 has not yet been released, all of the information in this article is based on previous trends. IBPS SO Salary is one of many factors that motivate applicants to prepare for the post of Specialist Officer. A applicant must have a thorough understanding of the salary structure established by the 7th Pay Commission, which he or she will receive after being selected, as this will motivate them to work even harder to meet their goals. Any suggested changes in the upcoming notification for 2022 will be updated here.
- Before applying for a position, many applicants research the salary, job profile, and opportunities for advancement.
- If you’re looking for something similar, you’ve come to the right place. IBPS SO recruitment notification 2022 will be released soon by the Institute of Banking Personnel Selection.
The table below lists the 6 positions for which IBPS SO Recruitment 2022 has been announced.
|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 2022: Overview
Before continuing, applicants should review the IBPS SO 2022 overview for more information on the IBPS SO Salary Structure.
|Exam Name||IBPS Specialist Officer Recruitment|
|Conducting Body||Institute of Banking Personnel Selection|
|Frequency of Conduction||Once a Year|
|Vacancies||To be announced|
|Mode of Fee Payment||Online|
|Mode of Exam Conduction||Computer-Based Mode (CBT)|
|IBPS SO 2022 Pay Scales||23, 700 – 980/ 7 – 30,560 – 1,145/ 2 – 32,850 – 1,310/ 7 – 42,020|
|Dearness Allowance associated with IBPS SO salary 202||36% of Basic Pay|
|City Compensatory Allowance||3%-4% depending on the place of posting|
|House Rent Allowance as per IBPS SO 2022 Salary||7%-9% depends on place posted|
IBPS SO Salary In Hand
Successful IBPS SO applicants will be assigned to the Junior Management Grade Scale I Cadre. The pay scale for all of the positions is roughly the same. The table below depicts the IBPS SO 2022 In-Hand Salary following the 7th Pay Commission.
The basic pay for IBPS SO is Rs 23,700. IBPS SO has a pay scale of 23700-980(7)-30560-1145(2)-32850-1310(7)-42020.
|Dearness Allowance||36% Approx. Rs 8600/|
|House Rent Allowance||As per the place of posting of the applicant, 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 applicant, it is between 0% to 4%|
|Lease Allowance||In place 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 Salaries for Several Positions of 2022
|Post||In-Hand Salary (Payscale 1)||In-Hand Salary (Pay Scale 2)|
|It Officer||Rs. 24000- Rs.32000||Rs. 34000- Rs. 40000|
|Rajbhasha Adhikari||Rs. 24000- Rs.32000||Rs. 34000- Rs. 40000|
|Agriculture Officer||Rs. 24000- Rs.32000||Rs. 34000- Rs. 40000|
|HR Officer||Rs. 24000- Rs.32000||Rs. 34000- Rs. 40000|
|Law Officer||Rs. 24000- Rs.32000||Rs. 34000- Rs. 40000|
|Marketing Officer||Rs. 24000- Rs.32000||Rs. 34000- Rs. 40000|
After subtracting multiple factors from the gross salary, the in-hand salary is computed. The gross salary ranges from Rs. 38000 to Rs. 39000, so after all deductions, the Officer’s Take Home Salary Slip is in the range of Rs. 33000 to Rs. 32000.
IBPS SO Salary: Job Profile
The work that each Specialist Officer does varies depending on the post. The types of works that each of them does are listed below.
|Agriculture Field Officer||Promoting rural banking and generating leads. Recognize the basic and financial needs of people living in rural areas. Collaboration with other RRBs, NABARD, and other groups. Loan recovery and inspection in rural areas.|
|IT Officer||Take care of the banking system’s core. Manage the banking system’s technical issues. Create and update the software. To avoid cybercrime, keep an eye on the bank’s security systems.|
|Rajbhasha Adhikari||Check for errors and translate important documents used in the banking industry. Organizing and conducting language-related workshops. Employees should be promoted and trained in the local language.|
|Law Officer||Handle all of the bank’s legal matters. In the event that a lawsuit is filed, represent the bank. Keep an eye on the banking system’s errors and authenticity.|
|HR/Personnel Officer||Employee database upkeep is required. Managing the recruitment process. Employee performance and evaluation. All employees’ welfare schemes, promotions, and compensation are designed.|
|Marketing Officer||Marketing and promotional activities by state or region. Profits can be increased by using cost-effective methods. Promoting his bank, gaining new customers, and bringing in new business deals are all goals he has set for himself.|
Benefits apart from Salary
Apart from the salary, there are numerous benefits available, including the following:
- Housing- House Rent Allowance (HRA) is included in the salary package for SOs hired through the exam. HRA pays for an officer’s living expenses, which vary depending on where he or she is stationed.
- The annual compensation packages for SOs range from Rs. 7.55 lakhs to Rs. 12.93 lakhs, depending on the post and its location, as well as other factors.
- Newspaper Allowance- The costs of a newspaper are included in the Officer’s allowance.
- Conveyance Allowance- This allowance is based on the availability of the Officer’s vehicle (two-wheeler or four-wheeler). Each month, the officer receives a set amount of fuel and other vehicle maintenance allowance.
- LTC (Leave Travel Concession) is a benefit that an officer can use if necessary. It is given at the discretion of the employer.
- Allowances like Entertainment Allowance and Furniture Allowance are taken care of as well.
- Leave policy- Officers hired through the exam are allowed to take as many leaves as they wish, subject to the policies of the banks to which they have been assigned. Casual leaves, privilege leaves, and any medical leaves are among the options available to them. Women Specialist Officers can also take a six-month maternity leave. Women or single men with elderly parents or children who have been posted can also take a two-year sabbatical leave.
- Holiday Homes- Bank employees’ guest houses and vacation homes are available to officers stationed in major cities and tourist destinations.
- Constant Training and Development- Because the positions are intellectually demanding, the banks train their SOs on a routine basis to maintain standards to date on the industry’s technicalities and nuances.
Specialist Officers hired through IBPS must serve on probation for at least a year to ensure that they are familiar with the job and its responsibilities. During this time, they have received extensive training and mentoring in the nuances of banking and their position. Through IBPS officers, all employees receive fair and transparent evaluations. There are numerous opportunities for advancement, and the Officer can progress to the top management level via departmental exams and internal promotions. Officers may be assigned to foreign postings on occasion.
Promotion Policy for IBPS SO Bank Officers 2022
IBPS officers are promoted based on the scales listed in the table below –
|Scale||Promotion Hierarchy||Experience (Min)||Length of Service (Min)||Length of Service (Max)|
|JMG Scale – I – MMG Scale -II||Merit/Fast Track||3||1||–|
|MMG Scale – II – MMG Scale – III||Merit/Fast Track||3||1||–|
|MMG Scale – III – SMG – IV||Merit/Fast Track||3||1||–|
|SMG Scale – IV – SMG – V||Merit/Fast Track||3||1||12|
|Scale – V – Scale – VI||Merit/Fast Track||3||1||15|
|Scale – VI – Scale – VII||Merit/Fast Track||3||1||18|
|JMG Scale – I- MMG Scale -II||Normal / Seniority||5||1||–|
|MMG Scale – II – MMG Scale – III||Normal / Seniority||5||1||–|
IBPS SO Officer Mainstream Cadre Joining After Grade V
The following pointers will help you understand the eligibility criteria and policy promotion for Specialist Officers. A specialist officer is allowed to join the mainstream cadre and is eligible for promotions if they meet the criteria listed below.
- A specialist officer must serve in the specialised cadre for at least 5 years before being eligible to join the mainstream cadre.
- A specialised officer must gain two years of field operations experience after joining the mainstream cadre to be eligible for promotion.
- A specialist officer is exempt from serving in rural areas for a minimum of two years.
- If a specialist officer joins at a higher scale than JMG 1, such as Scale-II or another, the minimum service length for promotion from Scale-IV to Scale V will now be 9 years rather than 12.
IBPS SO Salary 2022 FAQ’S
For which post is the IBPS SO exam conducted?
IT Officer, Agriculture Officer, Marketing Officer, Human Resources, Law Officer, and Rajbhasha Adhikari are among the positions for which the IBPS SO exam is held.
Which among IBPS SO and SBI SO is better?
The posts for IBPS SO and SBI SO are very similar. Their responsibilities and job profiles are also identical in terms of specialisation. The only difference between the IBPS SO salary and the SBI SO salary is that the IBPS SO salary is higher.
Is there Interview in the IBPS SO exams?
Yes, the Interview is the third stage of the IBPS SO exam. The final merit is calculated using the combined marks from the mains examination and the interview.
What is the basic pay of an employee working at the post of a Specialist Officer in IBPS?
An IBPS Specialist Officer’s basic pay ranges from Rs.36,300 to Rs.64,600. This salary varies depending on the Officer’s specialisation and pay scale.
Is there negative marking for the IBPS SO exam?
Yes, the IBPS SO exam employs a negative marking scheme. For each incorrectly marked answer, 0.25 points are deducted.