Which is better – SBI PO or IBPS PO?- Check the what to opt from IBPS PO and SBI PO Banking Exams.
The Institute of Business Personnel Selection has been conducting the examination for the post of Probationary Officer for a long time. The State Bank of India has also begun conducting the online examination for the recruitment of Probationary Officers starting last year. This examination is divided into three levels – Prelims, Mains and Personal Interview round. It is an important examination for those who want to pursue their career in the field of banking.
There are candidates who aim for both SBI PO and IBPS PO based on the salary, growth, benefits and working environment. The number of applicants for SBI PO is more even though they have lesser vacancies than in IBPS PO. The major reason for this is that the State Bank of India itself is one of the largest and most well known commercial bank in India. IBPS is a nodal agency that works as a common recruitment program through which probationary officers are recruited for 23 participating banks except SBI.
Tasks of Probationary Officer
- They provide services to customers.
- They enhance the business of the bank
- They handle cash transactions and other activities related to it
- They undertake clearance of payment
- They manage the customer’s accounts
Pay Scale- Salary
One of the main differences that you will find among both SBI PO and IBPS PO will be in terms of salary. The salary of bank’s PO as per the bipartite settlement took place in November 2012 after which the revised basic pay of bank PO is Rs. 23,700 which will be applicable from 1st January 2016. An annual increment of Rs. 980 is applicable for a period of 7 years. However, the PO at SBI is paid 4 extra increments at the time of joining. Apart from the basic pay the Probationary Officer gets the following allowances –
- Dearness allowance based on the CPI data revealed by the government which is revised quarterly every year. The DA goes up with higher inflation and vice-versa.
- The Special allowance is 7.5% of the basic pay.
- The house rent allowance ranges between 7-9 % depending upon where the Probationary Officer is posted.
- City compensation allowance can be between 0-4 %.
The salary of SBI PO is Rs. 7,500 more than that of IBPS PO including all the allowances.
Perks of being an SBI PO
- You will be entitled to lease accommodation. This is not available as cash component and will directly go to the house owner.
- A couple of banks provide travelling allowance but apart from that they even reimburse petrol bills.
- The SBI PO can get his newspaper bills reimbursed.
- A fixed amount of Rs. 8000 is paid annually.
- There are additional benefits that the officer will have under the new pension scheme.
- SBI also pays a 100% medical aid for the PO and an additional 75% for the family.
On the whole, the SBI POs are paid approximately Rs. 6000 more in the form of perks than PO s from other banks.
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