SBI SO Salary 2022: Salary Structure, Salary Slip, In hand Salary, Promotion, Allowance

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SBI SO Salary 2022: The salary of a Specialist Officer (SO) at the State Bank of India (SBI) has been discussed. An SBI SO’s job profile is one of the most wanted in the industry. The pay scale offered for each job profile in the SBI SO Exam is unique, setting it apart from other Bank SO Exams. This post will provide an overview of the SBI SO compensation profile, including allowances, perks, and other advantages.

This exam is filling 444 slots for Specialist officers in a variety of positions. Executive, Senior Executive, Central Research Team, Investment Officer, Project Manager, Chief Manager, Relationship Manager, Data Protection Officer, and others are among the several positions available. All of the posts have various salaries and job descriptions, which are mentioned below.

SBI SO Salary 2022: In Hand Salary

SBI will be hiring Specialist Officers for a variety of positions. Middle Management Grade Scale III includes the following positions (MMGS III).

  1. SME Credit Analyst
  2. Product Manager
  3. Manager (Data Analyst)
  4. Manager (Digital Marketing)
  5. Manager (Anytime Channel)

The salaries for each position are listed below.

Sr NoGradePay Scale
1Junior Management Grade Scale I (JMGS I)23700-980/7-30560-1145/2-32850-1310/7-42020
2Middle Management Grade Scale II (MMGS II)31705-1145/1-32850-1310/10-45950
3Middle Management Grade Scale III (MMGS III)42020-1310/5-48570-1460/2-51490
4Senior Management Grade Scale IV (SMGS-IV)50030-1460/4-55870-1650/2-59170

According to the SBI SO Notification 2022, the following is the salary structure for various posts:

SBI SO Salary
PostPay Scale/ Salary
Credit Analysis MMGS-III42020-1310/5-48570-1460/2-51490
Product Manager42020-1310/5-48570-1460/2-51490
Data Analyst Manager42020-1310/5-48570-1460/2-51490
Digital Marketing Manager42020-1310/5-48570-1460/2-51490
Faculty, SBILRs. 25 lakh to Rs. 40 lakh per annum
Sr. Executive (Digital Relations, Analytics, Digita Marketing)Rs. 12 lakhs to Rs. 20 lakhs per annum
Executive (FI & MM)Rs. 6 lakhs per annum
Sr. Executive (Social Banking & CSR)Rs. 10 lakhs per annum
Deputy Manager (IS Audit)31705-1145/1-32850-1310/10-45950
Vice President (Stressed Assets Marketing)Rs. 40 lakhs to Rs. 43 lakhs per annum
Chief Manager (Special situation Team)50030-1460/4-55870-1650/2-59170
Deputy Manager (Stressed Assets Marketing) 31705-1145/1-32850-1310/10-45950
Head (Product, Investment & Research) Rs.80.00 lakhs to Rs.99.62 lakhs per annum
Central Research Team (Portfolio Analysis & Data Analytics)Rs.25.00 lakhs to Rs.50.00 lakhs per annum
Central Research Team (Support)Rs.7.00 lakhs to Rs.10.00 lakhs per annum
Investment OfficerRs.12.00 lakhs to Rs.18.00 lakhs per annum
Project Development Manager (Technology) Rs.12.00 lakhs to Rs.18.00 lakhs per annum
Relationship ManagerRs.6.00 lakhs to Rs.15.00 lakhs per annum
Relationship Manager (Team Lead)Rs.10.00 lakhs to Rs.28.00 lakhs per annum
Deputy Manager – Law31705-1145/1-32850-1310/10-45950

SBI SO Job Profiles

The job that is allocated to workers on various postings differs from one post to the next. The position necessitates a high level of motivation and expertise, as well as the willingness to work effectively. Individuals must be flexible in order to adapt to societal changes. Each person’s function and job profile for the position of SBI Specialist Officer is listed below.

SME Credit Analyst

  • The job description for a SME Credit Analyst is to complete reviews and renewals in a timely manner as an appraiser, including credit risk assessment proposals.
  • A SME Credit analyst’s job is to help relationship managers achieve budgeted growth in advances for the AMT by securing maximum marks for the AMT in pre-sanction credit audits.
  • SME Credit analysts are also hired to help relationship managers achieve the AMT’s budgeted growth in other income. They also make certain that the ABS used in the proposals are the same as those filed with the ROCs.
  • They also verify that each unit in the AMT achieves a suitable RAROC (Risk-adjusted Return on Capital).

Faculty, SBIL, Kolkata

  • They are hired to help with academic administration as needed by the institute, as well as to help develop the leadership skills of top/senior executives from the bank/other banks and FIs who will be attending SBIL for training.
  • The applicants chosen for the Faculty position at SBIL, Kolkata will play an active role in and contribute to the institute’s training activities.
  • They also teach subjects in their area of expertise across the institute’s various programmes. Their responsibilities include identifying the bank’s top/senior executives’ training needs and co-designing and co-delivering training interventions
  • The faculty at SBIL, Kolkata is responsible for ensuring the smooth running of the institute’s various workshops, conclaves, and programmes, as well as developing and imparting training programs/ workshops in various areas of leadership development.
  • In order to achieve maximum effectiveness in training, the recruiters also ensure that the institute is promoted and that the institute’s programmes are marketed in appropriate forums in the BFSI sector.
  • They also work to ensure that participants’ competence levels are raised by constantly improving the content and methodology of training programmes, as well as providing the appropriate types of training with ongoing updates and best practises in their field.

Vice President (Stressed Assets Marketing)

  • A vice president’s job entails extensive marketing and investor scouting for the sale of nonperforming assets (NPAs).
  • The role entails preparing an information sheet/IM with a detailed description of the assets for sale.
  • A vice president’s job is to negotiate the sale of stressed assets with potential investors/PE Funds and QIBs in order to maximise the realisation.
  • They also help to build a list of stressed assets available across the vertical, as well as relationships with branches/sector teams/SARG Operations, to ensure that available NPA accounts are disposed of as quickly as possible.

Chief Manager (Special Situation Team)

  • They also work to finalise a bankable resolution plan by discussing resolution plans with branches and other members of the bank and sector team.
  • A chief manager’s job description includes restructuring and rehabilitating stressed assets as well as developing resolution plans in consultation with financial and technical consultants.
  • They are hired to maintain relationships with the branches, sector teams, and SARG Operations in order to facilitate the restructure of stressed assets in a timely manner, preventing asset and enterprise value deterioration.
  • Chief Managers are also in charge of putting immediate corrective action in place, along with appropriate resolution strategies, to keep SMA accounts from falling into the NPA category.

Deputy Manager (Stressed Assets Marketing)

  • The Deputy Manager’s job is to prepare the information sheet/IM with a detailed description of the assets that are available for sale.
  • The deputy manager’s job entails extensive marketing and scouting for investors in order to sell the NPAs.
  • Deputy managers also maintain a list of stressed assets available across the vertical and negotiate the sale of stressed assets with prospective investors/ PE Funds/ QIBs in order to maximise the realisation.
  • They are also hired to keep in touch with the branches, sector teams, and SARG Operations in order to expedite the disposal of available NPA accounts.

Product Manager

  • Their main responsibility is to coordinate with stakeholders from various business units.
  • A product manager’s job entails defining the garage’s and individual journeys’ visions. They gather business requirements from a variety of sources, synthesise them, and communicate them to the technical team.
  • They are hired to work with stakeholders in the tech team to ensure that the journey is delivered on time and to drive business for the developed and launched journeys by creating a strategy to encourage adoption of the journeys.
  • Product managers also work with stakeholders at the circle and regional levels to put the plan in place to increase adoption and revenue. They also create and distribute weekly deliverable trackers to all stakeholders to ensure that deliverables and progress are transparent.
  • The garage’s product managers are in charge of designing the reimagined process, reviewing the BRS, writing the necessary notes, and obtaining approvals from relevant authorities and committees.

Manager (Data Analyst)

  • A manager in the data analyst field’s job description is to translate business requirements into analytical cases and communicate with GITC stakeholders.
  • Their main job responsibilities include collecting and interpreting data on a regular basis in order to assess the success factors of key products and journeys, and then reporting that information to the appropriate members of the company. They’re also looking for patterns and trends in the data.
  • Managers from the data analyst stream are also hired to develop new data collection and analysis procedures.
  • They’re also hired to collaborate with product owners on defining KPI parameters for each workstream.

Manager (Digital Marketing)

  • A digital marketing manager’s job description includes developing, implementing, and managing marketing campaigns that promote offers and campaigns. They collect business requirements and distribute briefs to the appropriate stakeholders.
  • Managers in the digital marketing branch perform a variety of marketing tasks, such as increasing brand awareness, implementing new digital platforms, and proposing new and improved ideas for inbound and outbound marketing campaigns.
  • Their job is to evaluate and improve campaign performance based on campaign output and feedback.
  • Managers in the field of digital marketing are hired to conduct a brand sanity check, maintain the design brand and aesthetic, and obtain creative approval. They also ensure that the products are delivered and launched on time.
  • Digital marketing managers are in charge of optimising the use of digital tools and channels for maximum deliverability and campaign impact.
  • They also optimise content for the website as well as social media platforms like Facebook, Twitter, Instagram, and Google Plus.
  • They collaborate with various teams to ensure campaign execution and to track results.
  • Managers in this branch develop a marketing strategy that includes outdoor advertising, social media, and in-house properties, as well as campaigns that include content creation, budgeting, and implementation schedules.

Senior Executive (Digital Relations)

  • Customer acquisition and campaign strategies are carried out by senior executives in digital relations. They also work to form partnerships with retailers and online sellers.
  • They are hired to provide prompt customer service and handle complaints. They’re also used to launch marketing campaigns, such as social media and digital marketing campaigns.
  • Their job entails negotiating and interacting with vendors or technology solution providers in order to achieve win-win outcomes.

Senior Executive (Analytics)

  • A senior executive in analytics’ job description is to collect, organise, analyse, and disseminate a large amount of data in great detail and accuracy.
  • They also write detailed reports that are distributed to relevant members of the business team or management.
  • Their job is to identify patterns and trends in data sets and interpret and analyse the results.
  • A senior executive’s job is to establish business needs in collaboration with the business or management team.

Senior Executive (Digital Marketing)

  • The primary responsibility of a senior executive in digital marketing is to increase revenue in accordance with digital banking targets.
  • Senior executives in the digital marketing branch assist with marketing by suggesting new creative products based on market or industry needs.
  • They schedule meetings with executives from e-commerce players, aggregators, and IT vendors ahead of time.

Banking Supervisory Specialist

A banking supervisory specialist’s job entails assisting in the implementation of regulatory directives resulting from RBI notifications, regulatory directives, and other sources, with a focus on large value credits or KYC.

Manager- Anytime Channels

  • Managers’ responsibilities include identifying new and alternative channel products and solutions in the market that are consistent with the bank’s overall strategy.
  • They are in charge of creating Business Requirement Documents (BRD) for the bank’s IT Vertical to develop.
  • They also work to increase transaction volume on the bank’s existing alternative channel. Their job is to come up with strategies to make the Bank’s alternative channels more accessible.
  • They assist in the development of the bank’s overall alternate channel strategy.
  • They are hired to manage and implement new solutions and projects in the Bank from start to finish.
  • Their day-to-day job entails overseeing the operation of alternate channels.
  • They deal with regulatory and security issues through alternative channels.
  • They are hired to manage the Bank’s relationships with current and potential partners in the areas of contracts, procurement, service levels, and overall delivery.

Head (Product, Investment and Research)

  • The value proposition for the wealth management business is designed by heads of various departments.
  • They are hired to ensure that clients receive high-quality research reports with adequate coverage.
  • The head is in charge of overseeing the research and investment team.
  • They also make sure that product benchmarking is done on a quarterly basis.
  • Their primary responsibility is to monitor the introduction of innovative and superior wealth management products following competitive scanning and benchmarking.

Central Research Team (Portfolio Analysis and Data Analyst)

A portfolio analyst’s job description includes working closely with the product and research heads to conduct performance monitoring of portfolios held by various customers, as well as liaising with market data aggregators and research providers.

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Central Research Team (Support)

Creating and updating excel worksheets related to macroeconomics, stock and sector research, fixed income research, creating portfolio review templates, and so on are all part of the role and job profile.

Investment Officer

  • Their primary focus is on due diligence, quantitative techniques, and asset allocation.
  • They are in charge of a wide range of experience, including MF, FI, Structured Products, and Discretionary Portfolios.
  • An investment officer’s job is to advise clients on a variety of financial services products.

Project Development Manager (Technology)

  • The majority of their time is spent understanding and communicating business requirements to the IT team and technology partners.
  • A Project Development Manager’s primary responsibility is to manage relationships with technology partners.
  • For new developments, integrations, or bug fixes in existing Bank platforms, they collaborate with various Bank IT and business teams.
  • They are hired to write and document user-level operating manuals for technology interfaces.
  • They are in charge of collaborating closely with the Bank’s IT teams to ensure that new developments are delivered on time.

Relationship Manager

  • In order to meet business objectives, a relationship manager’s job is to acquire, nurture, grow, and strengthen relationships with Affluent and HNI clients.
  • Their main goal is to increase the Total Relationship Value (TRV) and Assets Under Management (AUM) of clients in accordance with the company’s goals.
  • They are in charge of selling a variety of investment and insurance products to clients in order to meet their financial planning needs and thus meet the wealth management company’s revenue goals.

Relationship Manager (Team Lead)

  • They’ve been hired to lead a team of Relationship Managers in the Wealth Management division.
  • In order to meet business objectives, a relationship manager in the team lead’s job is to acquire, nurture, grow, and strengthen relationships with the Affluent and HNI segment of clients.
  • Their primary goal is to increase the Total Relationship Value (TRV) and Assets Under Management (AUM) of clients in accordance with the company’s goals.
  • They are in charge of selling a variety of investment and insurance products to these customers in order to meet their financial planning goals and thus help the Wealth Management business meet its revenue goals.

Chief Officer (Security)

  • As the head of the bank’s security function, their primary responsibility is to ensure that the bank’s security systems are kept in top working order.
  • A chief officer in the Security branch’s job description is to draught the bank’s security policies and coordinate their review.
  • The Bank’s security awareness is raised by the Chief Officers in this branch. They are in charge of developing a policy for the bank’s security and safety systems.
  • From a security standpoint, their job is to provide a vetting disaster recovery plan for Corporate Center Departments/Establishments.
  • They are also in charge of any other security-related functions that controllers have entrusted to them.
  • They provide specialised and professional security support to Top Management in all security-related matters, ensuring the security and safety of the Bank’s property, customers, and employees at all times.

Executive (FI and MM)

  • They are hired to create model schemes and checklists for application and appraisal compilation.
  • An executive in the FI and MM gathers market data, surveys the area under their jurisdiction, and evaluates the potential for activities such as dairy, poultry, plantations, fruits, vegetables, floriculture, fishery, agriculture/allied activities, rural housing, and so on (document and update at half yearly intervals).
  • An FI and MM executive’s job is to review and revise existing schemes, as well as to educate and popularise them among employees and CSPs.
  • They assist with the preparation of the Annual Credit Plan (ACP).
  • Executives in FI and MM branches plan marketing campaigns with the help of FI & MM Network branches, staff, and CSPs, as well as host farmers meetings. They also conduct an annual review of financial scales in the operation area.
  • Their job entails frequent contact with government departments dealing with agricultural finance, NABARD, and agricultural universities and research centres. They also hold village meetings to promote the Bank’s farmer scheme and provide necessary assistance and guidance.
  • They are hired to look into the possibility of Agro Exports from the region and to encourage farmers to adopt such farming practises. They’re also working to increase the Bank’s microfinance presence in the District.

Deputy Manager (IS Audit)

  • Their job entails conducting and monitoring compliance audits.
  • A deputy manager’s job description in IS Audit is to conduct IS Audits, IS Concurrent Audits, and the technical part of IS Audits using VAPT tools.
  • They are hired to provide recommendations for addressing vulnerabilities and improving the Auditee Unit’s security posture.

Senior Executive (Social Banking and CSR)

  • A senior executive in the field of social banking and CSR is responsible for developing strategies and promoting social security schemes and other government initiatives.
  • They’ve been hired to boost the bank’s microfinance presence in the area.
  • Their job is to coordinate with farmer producer organisations and cooperatives, among other things.

SBI SO Salary: Perks and Allowances

The benefits and allowances that an SBI SO receives differ from one post to the next. The benefits that an SBI SO receives, on the other hand, are enormous. The perks and allowances for each post are listed below.

1. For MMGS Grade Scale III

According to the rules in effect at the time, the official will be eligible for DA, HRA, CCA, PF, Contributory Pension Fund, LFC, Medical Facility, and other benefits.

2. Faculty, SBIL, Kolkata

In addition to CTC, other benefits include Traveling Expenses (TE) for taxi rides, air (economy class) for official travel, and Deputation Allowance (DA) equivalent to our bank’s Assistant General Manager.

On a revenue-sharing basis, the selected faculty will be allowed to spend up to 90 days per year in external teaching/consulting. If these activities generate more than Rs 5 lacs per year in revenue, 40% of the excess will be shared with the institute (Taxes as applicable).

  Chandigarh University, Punjab

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3. Chief Manager (Special situation Team) & Deputy Manager (Stressed Assets Marketing)

According to the rules in effect at the time, the official will be eligible for DA, HRA, CCA, PF, Contributory Pension Fund, LFC, Medical Facility, and other benefits.

4. Deputy Manager (Stressed Assets Marketing)

Other than CTC, no perks or other benefits will be provided. In an 80:20 ratio, CTC compromised fixed and variable pay.

5. Executive (FI & MM) and Sr. Executive (Social Banking & CSR)

  GD Goenka University, Gurgaon

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  Manav Rachna, Haryana

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(i) Fixed pay component of 70%; (ii) Variable pay component of 30%; (iii) Annual increment – maximum 10% subject to Bank’s conditions; (iv) Traveling allowance and other perks are applicable according to Bank’s rules.

6. Deputy Manager (IS Audit)

According to the rules in effect at the time, the official will be eligible for DA, HRA, CCA, PF, Contributory Pension, LFC, Medical Facility, and other benefits.

SBI SO Responsibilities

The following are the SBI SO responsibilities for various grades and profiles:

  • Identify and evaluate various IT-related operations in terms of business needs.
  • Establish clear and efficient communication with customers and business partners.
  • Supervise and manage the installation, configuration, and monitoring of systems and servers.
  • Participating in troubleshooting tasks
  • Prepare status reports for each department’s assigned and completed tasks.

SBI SO Career Growth

Applicants who are thus selected as Specialist Officers in SBI are not only eligible for a lucrative SBI SO Salary 2022, but also for career advancement and promotions. The bank holds annual departmental examinations in order to promote candidates to higher positions. Through the departmental examination, candidates can advance from an officer position to that of Chairman. There is also a growth hierarchy for the officer, as shown in SBI SO Career Growth:

  • Assistant Manager
  • Deputy Manager
  • Manager
  • Chief Manager
  • Assistant General Manager
  • Deputy General Manager
  • General Manager
  • Chief General Manager
  • Deputy Managing Director
  • Managing Director
  • Chairman

SBI SO Training Period 2022

The SBI SO 2022 is the State Bank of India’s highest cadre. In addition to the SBI SO Salary 2022, Applicants who are hired as Specialist Officers at SBI will receive four weeks of training based on their job profile. During the training period, candidates are introduced to the various banking processes.

The bank educates candidates on the SBI SO Job Profile and trains them in the same manner. In fact, the bank is responsible for the applicants’ boarding and lodging throughout the training period. After completing the training period, the candidate is assigned to various branches as a Specialist Officer. In addition, the SBI SO’s training period is paid, and applicants are paid after the period is completed.

SBI SO Salary and Job Profile 2022 FAQs

Yes, the bank has already informed the candidates that they will be eligible for a variety of benefits, including DA, HRA, CCA, LFC, Newspaper allowance, Petro allowance, and so on.

After their probation period is completed, candidates selected as SBI Specialist Officers will be promoted. Promotion exams are held by the bank on a regular basis. Candidates can take part in them and then be promoted based on their results in the departmental examination.

The training of an SBI Specialist Officer usually lasts between 15 and 30 days, depending on the bank’s Circle.

The pay band of SBI SO Salary 2022 is divided into three categories viz JMGS 1 will get 23700-980/7-30560-1145/2-32850-1310/7-42022. While JMGS II and III will get 31705-1145/1-32850-1310/10-45950 and 42022-1310/5-48570-1460/2-51490 respectively.

After their probation period is completed, candidates selected as SBI Specialist Officers will be promoted. Promotion exams are held by the bank on a regular basis. Candidates can take part in them and then be promoted based on their results in the departmental examination.

Probation is a type of temporary training period during which applicants learn about their field of work, job profile, and so on. Applicants who successfully complete their probation period will be hired on a permanent basis.

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