IBPS SO Salary 2021: Pay Scale, Job Profile, Career Growth

IBPS SO Salary 2021: Pay Scale, Job Profile, Career Growth

ByKanika Ralhan  |  Updated on: Nov 3, 2021IBPS SO 2021 Notification out for 1828 Specialist Officer vacancies in various public sector banks.This is a prime opportunity for candidates looking for a growing & stable job. Candidates can scroll the page to check out the important dates, post-wise & bank-wise vacancies, syllabus, exam pattern, cut off, question papers, free mock test, & official notification of IBPS SO recruitment 2021.
IBPS SO 2021 Notification out for 1828 Specialist Officer vacancies in various public sector banks.This is a prime opportunity for candidates looking for a growing & stable job. Candidates can scroll the page to check out the important dates, post-wise & bank-wise vacancies, syllabus, exam pattern, cut off, question papers, free mock test, & official notification of IBPS SO recruitment 2021.
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IBPS SO Salary 2021

IBPS SO Salary is one of the striking features for the candidates. The salary offered for IBPS SO is a hefty amount and makes it an attractive factor for the increase in the number of applicants every year. There has been a major increase in the number of candidates that apply for the IBPS SO exam and salary is one of the major factors.

Knowledge about salary for all the posts under IBPS SO helps you understand different prospects of the work. With detailed information about the job profile, responsibilities, career growth and specialist officer salary you will get a clear idea about what you are applying and aiming for.

IBPS SO Salary Components

IBPS SO Salary is a collection of different components. It is important to have information about the different components of the salary. The details of the components are given below:

Particulars 

IBPS SO Salary Components 

Basic Salary

23700-980(7)-35560-1145(2)-32850-1310(7)-42020.

Dearness Allowance

36% of basic salary (approx ₹ 8605). Dearness Allowance is the cost of living.

House Rent Allowance


HRA varies from 7% - 9% which is paid by the bank to the employees for expenses in accommodation in any city. 

Special Allowance

Its is given as per your performance. It is a bonus amount which varies as per your performance.

City Compensatory Allowance

It lies between 0%-4% given by the bank to employees to help in living in the high-end lifestyles of a metropolitan city.

Lease Allowance

This can be availed up to ₹ 29500 by the employees as per their location of work. It is lease accommodation which when availed by the employee devoids him of Naval HRA.

IBPS SO Salary Allowances

Components

Percentage Distribution

House Rent Allowance

7%-9%(Location dependent)

Dearness Allowance

₹ 8605.88

Special Allowance

7.75%(Scale I)

City Compensatory Allowance

0-4%(depends on location)

Miscellaneous

₹ 4100

IBPS SO Salary (In-hand) 2021

IBPS SO In-hand salary is the total amount the employee receives after deduction due to various factors. ₹ 38000 - ₹ 39000 is the nearly gross salary of an IBPS SO. After many deductions, the employee receives a total of ₹ 33000 - ₹ 35000 which is the in-hand salary.

IBPS SO Job Profile 2021

The type of work that the specialist officers undergo varies from post to post in IBPS SO. We will cover the job description of each profile of the IBPS SO one by one now.

1. Agriculture Field Officer

  • Supervising loans and related issues.
  • Working for the development of rural banking
  • Making connections with NABARD, RRBs, and other similar institutions and organizations.
  • Evaluating and working for the needs of people in rural areas.

2. I.T Officer

  • Helps in developing schemes to fight cybercrimes.
  • Supervising core banking systems and interfaces.
  • Taking charge of the smooth functioning of banking software
  • Working to resolve technical issues.

3. Rajbhasha Adhikari

  • Helps to conduct and organise language workshops
  • Help in developing the learning of local languages
  • verification of documents in different languages that are used in banks

4. Law Officer

  • A representing body on behalf of the bank in court hearings
  • Undertake legal proceedings
  • Maintain an error-free working and keep a check on the reliability of the documents.

5. HR/Personnel Officer 

  • Monitors the performance of the employees
  • Look after the promotion, schemes, compensation, and policies for the employees.
  • Looks after database consisting of employee details
  • Performs recruitment and induction process of employees

6. Marketing Officer 

  • Strategizing promotional activities 
  • Helps in business development steps and schemes
  • Promote the bank and gather customers and better business prospects and deals.

IBPS SO Career Growth Opportunities

Every candidate looks for growth in their career. IBPS SO provides ample opportunities for career growth to every employee. The following will tell the career growth opportunities in the hierarchy in detail:

  1. The Junior Management - Scale 1 (Assistant Manager/ Officer)
  2. The Junior Management - Scale 2 (Manager)
  3. The Middle Management - Scale 3 (Senior Manager)
  4. The Senior Management - Scale 4 (Chief Manager)
  5. The Senior Management - Scale 5 (Assistant General Manager)
  6. The Top Management - Scale 6 (Deputy General Manager)
  7. The Top management - Scale 7 (General Manager)

IBPS SO Salary Variation on the basis of Scale

For various posts, the salary is different for different scales. The details are given below:

Grade

IBPS SO Salary

Officer Scale I

Salary per month– ₹ 36400/-

Pay Scale– ₹ 23700-980/7-30560-1145/2-32850-1310/7-42020

Officer Scale-II

Salary per month - ₹ 48800/-

Pay Scale- ₹ 31705-1145/1-32850-1310/10-45950

Officer Scale III

Salary per month - ₹ 64600/-

Pay Scale- ₹ 42020-1310/5-48570-1460/2-51490

IBPS SO Perks & Benefits

IBPS SO offers a good amount of salary to its employees. Other than a good salary, it also provides many perks to the employees. The additional perks include medical allowance, house and furniture allowance, entertainment allowance, newspaper allowance. For all these activities, the bank will be providing its employees with some fixed amount every month.

Important Links:

IBPS SO Notification 2021 PDFIBPS SO Vacancy 2021
IBPS SO Eligibility CriteriaIBPS SO Apply Online
IBPS SO Exam DateIBPS SO Selection Process
IBPS SO SyllabusIBPS SO Cut Off
IBPS SO Question PapersIBPS SO Exam Analysis
IBPS SO Exam PatternIBPS SO Salary
IBPS SO Mock Test IBPS SO Online Coaching

Best of Luck!

Posted by:

Kanika RalhanKanika RalhanMember since Jan 2018
Program Manager- Banking & Insurance exams
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IBPS SO Salary FAQs

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  • The basic pay of an IBPS SO Scale I Officer is ₹ 23,700/-.

  • ₹ 33000 - ₹ 35000 is an In-hand salary of an IBPS SO Officer after all deductions.

  • Special Allowances such as incentives and bonuses are given based on the performance of the employees.
  • IBPS SO IT Officers is typically employed in a bank to take care of software and network systems in order to fight cybercrimes, maintaining databases, evaluating a new technology for further improvement of the overall working of the bank, etc.

  • Yes, IBPS is governed by a board that includes nominees from government organisations.

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