mail-box-lead-generation

written by | August 1, 2022

SBI PO Salary: Know the Revised Salary Structure & Job Profile

×

Table of Content


The notice for the 2022 SBI PO employment has been issued by SBI (Bank Of India). Each candidate should be interested in learning about various facets of the SBI PO position, like the SBI PO in-hand salary, job duties, pay and benefits, SBI PO salary slip, or reimbursements, in addition to exam-related queries.

This article offers detailed information on the SBI PO in-hand salary, gross compensation, job description, and future career opportunities to assist you in understanding this position. Learn all the details about the SBI PO position before you consider it as a career option.

Did you know? The basic salary for an SBI Probationary Officer is ₹ 41,960. The compensation for a probationary officer is 36,000-1490/7-46430-1740/2-49910-1990/7-63840 with four advance increments, according to the modified Bipartite Settlement.

Also read: Know About the RBI Assistant Salary Structure and Job Profile

2022 SBI PO Salary

The announcement for hiring a probationary manager has been published by SBI, India's largest public bank. The SBI PO in-hand salary ranges from 41,960 to ₹63,840

Along with several other advantages and privileges that come with the position, SBI POs are paid substantial salaries. Understanding the details about the types of pay and their advantages is essential for aspirants who wish to apply for the SBI PO position. Candidates should also learn about their roles and responsibilities included in the SBI PO job profile to identify if this is the right position for them.

Salary Structure for SBI PO (Gross & in-Hand)

Due to the lucrative wage structure, SBI PO is among the most sought-after jobs. It's one of the more lucrative occupations in India's banking industry. Probationary employees are eligible for several bonuses and incentives in addition to their base pay and administering a prestigious position within SBI.

In comparison to an IBPS PO, an SBI PO employee makes more money even after paying all the taxes. They also receive substantial bonuses. You must understand all about being a probationary officer, their responsibilities, the career goals they may achieve. Learn about the SBI Bank PO salary if you are striving to apply for the SBI PO position.

Comparatively speaking, the PO pay at SBI bank is better than those at any other bank.

Depending on the location of the posting, the SBI PO's beginning salary may also vary. Employees deployed to major cities typically receive better salaries. An employee receives extra advantages like PF, healthcare benefits, LTC, etc., and substantial compensation.

Also read: What is Bank Manager Salary in India?

A sample SBI PO Payslip

Salary For SBI PO In Hand

The SBI PO's in-hand salary is between 42,000 and 44,000 after various deductions. This sum could be different depending on the employee's location of posting. Employees stationed in top-tier cities receive a higher salary than those in low-tier cities. 

A candidate's understanding of the SBI PO salary and its components is crucial while deciding to apply for the recruitment. The base pay for all SBI PO positions is the same, although different locations may offer different benefits, allowances, and additional compensation.

Annual SBI PO Package

SBI is a well-known bank with competitive compensation, and this remuneration is a major reason for candidates to apply at SBI. According to SBI's official statement, depending on the location of the assignment and other circumstances, the annual total remuneration or pay package for SBI POs will range from a baseline of 8.20 lakhs per annum to a total of 13.08 lakhs per annum.

SBI PO Compensation and Benefits

The table below lists some of the benefits that the SBI provides. You can find the SBI PO salary scale details here.

Based on the announcement given the previous year, SBI PO Basic Pay 2022

With four advance increments at the rate of

Dearness Compensation

This is calculated using the CPI and updated every quarter (Consumer Price Index). DA now amounts to 46.9% of the base salary.

Allowance for City Compensation (CCA)

This can be either 4% or 3%, depending on where the posting is made.

Rented homes as lodging

SBI PO may lease a home for an amount ranging from a minimum of 8,000 (in rural regions) to a maximum of 29,500 (depending on posting) (in Mumbai).

Allowance for furniture

 A budget of 1,20,000 for furniture purchases

Health Insurance

SBI employees have full medical coverage, and their dependents get 75% of that.

Travel Compensation

For business trips, reimbursement for an AC 2-tier price is given.

Petrol

If you don't have any 2/4 wheelers, you may use around 50 or 55 litres of fuel (conveyance allowance).

Also read: What is the Salary of a Financial Risk Manager (FRM) in India?

SBI PO Job Profile 2022 

Let's now clarify the roles and responsibilities of an SBI trainee officer.

  • SBI PO must undergo a two-year probationary term after joining. During this time, candidates get additional knowledge about how banks operate and the responsibilities specific to their profile.
  • Gaining hands-on experience with various elements of banking, customer service (which can involve everything from printing passbooks to creating accounts), monitoring administrative work, loan applications, etc., are typical responsibilities of a probationary officer.
  • During their probationary time, SBI PO employees get trained in various areas, including retail (individual) banks, advancements, rural financial services (agricultural, education), etc.
  • Following approval, an SBI PO is immediately dispatched to the designated bank. Therefore, when they must understand the numerous aspects of a standard banking profile on completing their probationary period.
  • The staff also receive specific training while they are on probation.
  • Following the probationary term, the SBI PO must undergo a screening process to be verified as an Executive Managerial Level Grade Scale-II.

An SBI PO's job description is quite flexible, and depending on the situation, it may be necessary for the officer to perform clerical duties. When you ultimately have to fill a management position, you won't succeed if you don't have a thorough grasp of how the basic activities are carried out. 

SBI PO Career Development & Promotion

SBI offers tremendous prospects for career advancement. The SBI PO progress cycle is rather quick as one can be promoted to the position of group chairman. The former President of SBI, Mrs Arundhati Bhattacharya, who joined the company in 1977 as a PO, is a good example.

In SBI, the order of promotion starting from the lowest to the highest ranks takes the following route.

  • Probationary Officer (Assistant Manager, JMGS-I)
  • Assistant Manager
  • Deputy Manager 
  • Manager 
  • Chief Manager 
  • Assistant General Manager
  • Deputy General Manager 
  • General Manager 
  • Chief General Managerer 

 

 

The SBI PO advancement program gives outstanding officers the chance to advance to the management level in a respectably short period. Based on their accomplishments, SBI also gives chosen officers assignments abroad. The SBI operates more than 190 overseas operations throughout 36 nations.

Also read: What is the Salary of a Chartered Financial Analyst (CFA) in India

Conclusion

SBI certainly offers perks, rewards, allowances, and facilities in the finance sector. Candidates who work as POs for SBI are often professionally fulfilled and have room for advancement. 

Therefore, the SBI PO would be your first choice if you're seeking a challenging job that involves banking and provides some of the top benefits and perks in the business.
Follow Khatabook for the latest updates, news blogs, and articles related to micro, small and medium businesses (MSMEs), business tips, income tax, GST, salary, and accounting.

FAQs

Q: Is a bond signed when applying for the PO position?

Ans:

All applicants must sign a 2 lakhs bond for the probationary term at the time of application.

Q: What is the SBI probationary officer's term of service?

Ans:

The chosen applicants must work at the State Bank of India for a minimum of two years, the first two of which are on a probationary basis. They go through several inspections and spend this time being assessed.

Q: Does an SBI PO receive any benefits?

Ans:

Yes, State Bank of India POs receive additional compensation in addition to their base pay, including Housing Rent Allowances, Dearness Allowance, healthcare benefits, consumer loans, etc.

Q: What medical benefits are offered to SBI PO?

Ans:

According to the rules, employees are entitled to full reimbursement for any medical care they receive and partial payment for any care received by their immediate family members.

Q: What is the highest position an SBI PO can hold?

Ans:

The highest position one may obtain in a banking career is Chairman. Depending on the candidate's talent and dedication, one can advance from lower to higher tiers.

Q: How much is the SBI PO salary after two years?

Ans:

After two years, the salary for an SBI PO is 59,957.

Q: What does an SBI PO basic pay range look like?

Ans:

An SBI PO's basic pay is 41,960, and three raises are available.

Q: What is the SBI PO's in hand salary?

Ans:

The in-hand SBI PO salary ranges from 42,000 and 44,000.

Disclaimer :
The information, product and services provided on this website are provided on an “as is” and “as available” basis without any warranty or representation, express or implied. Khatabook Blogs are meant purely for educational discussion of financial products and services. Khatabook does not make a guarantee that the service will meet your requirements, or that it will be uninterrupted, timely and secure, and that errors, if any, will be corrected. The material and information contained herein is for general information purposes only. Consult a professional before relying on the information to make any legal, financial or business decisions. Use this information strictly at your own risk. Khatabook will not be liable for any false, inaccurate or incomplete information present on the website. Although every effort is made to ensure that the information contained in this website is updated, relevant and accurate, Khatabook makes no guarantees about the completeness, reliability, accuracy, suitability or availability with respect to the website or the information, product, services or related graphics contained on the website for any purpose. Khatabook will not be liable for the website being temporarily unavailable, due to any technical issues or otherwise, beyond its control and for any loss or damage suffered as a result of the use of or access to, or inability to use or access to this website whatsoever.
×
mail-box-lead-generation
Get Started
Access Tally data on Your Mobile
Error: Invalid Phone Number

Are you a licensed Tally user?

Disclaimer :
The information, product and services provided on this website are provided on an “as is” and “as available” basis without any warranty or representation, express or implied. Khatabook Blogs are meant purely for educational discussion of financial products and services. Khatabook does not make a guarantee that the service will meet your requirements, or that it will be uninterrupted, timely and secure, and that errors, if any, will be corrected. The material and information contained herein is for general information purposes only. Consult a professional before relying on the information to make any legal, financial or business decisions. Use this information strictly at your own risk. Khatabook will not be liable for any false, inaccurate or incomplete information present on the website. Although every effort is made to ensure that the information contained in this website is updated, relevant and accurate, Khatabook makes no guarantees about the completeness, reliability, accuracy, suitability or availability with respect to the website or the information, product, services or related graphics contained on the website for any purpose. Khatabook will not be liable for the website being temporarily unavailable, due to any technical issues or otherwise, beyond its control and for any loss or damage suffered as a result of the use of or access to, or inability to use or access to this website whatsoever.