It is a well-established fact that the SBI PO exam is the most lucrative of all the Bank Exams that are taken in the country. The profile of an IBPS PO is equally sought after and very similar to that of an SBI PO, the comparison between IBPS PO and SBI PO mainly lies in terms of career prospects, salary, and work environment.
To give you a clear insight into essential details about the selection process, job profile, work environment, salary, perks, promotions, etc. of both these posts we are sharing with you all a comparative analysis of all of these work-related aspects.
In this article, we will discuss the similarities and comparison between IBPS PO and SBI PO.
Note: The IBPS is the nodal agency for the recruitment of Probationary Officer in 12 Public Sector Banks except the SBI.
IBPS PO Vs SBI PO
We will now have a look at various parameters to compare the above-mentioned profiles. The key distinction between IBPS PO exam and SBI PO exam is that IBPS is for all nationalized banks that engage in recruiting whereas SBI is solely for SBI. SBI PO has a somewhat greater level of difficulty than IBPS PO.
1. Selection procedure:
The selection process for IBPS PO exam and SBI PO exam is nearly identical. Both institutions employ a three- or four-stage procedure. Both IBPS and SBI Probationary Officer recruitment examinations begin with a preliminary test.
- SBI PO
The level of examination for SBI PO is tougher in comparison to that of IBPS PO. SBI PO Recruitment consists of the following stages -
- Mains Exam with a descriptive test
- Group Exercise, and Interview
The pattern of Prelims and Mains examination is objective.
- IBPS PO
IBPS conducts an online examination for the selection of Probationary Officers in the participating Banks. IBPS PO recruitment consists of the following stages :
- Mains Exam with a descriptive test
Shortlisted candidates after final selection will be subsequently placed in one of the participating banks of the IBPS recruitment drive.
- Prelims exam in both SBI PO and IBPS PO is a qualifying paper, but the candidates have to clear the cut-off to be eligible to appear in Mains Examination. Thereafter, qualified candidates go through a common interview and process.
Read completed details about IBPS PO Selection Process here-
2. IBPS PO Vs SBI PO Cutoff
Here is the another important aspect which you need to know if you are dreaming to prepare for the IBPS PO exam and SBI PO exam.
- SBI PO
There is no sectional cut-off at the Pre & Main level. The result is derived in accordance with the overall cut-off only. Check detailed SBI PO Cut off
- IBPS PO
There is both a sectional and overall cut-off at prelims & mains level. Check detailed IBPS PO Cut off
3. Job profile of a Probationary Officer
Job Profiles of both IBPS PO exam and SBI PO exam are similar. The Probationary Officer in a Bank needs to undertake the following tasks in addition to the administrative work:
- The most important work of a Probationary Officer is customer service. It is a very comprehensive concept that includes solving queries of customers that visit a bank branch for various services like availing loans, opening of new accounts, deposits, cheque-books, credit cards, ATM services, and online banking, etc.
- Since POs are directly engaged in customer handling they are also entrusted with duties to add a new business to the organization through offering various products and services like fixed deposits, recurring deposits, insurance policies, DMAT accounts, etc. to existing and new customers.
- Apart from this, a PO is also engaged in managing accounts of customers, cash handling activities like cash disbursal and cash collection from cashiers as well as clearance of Payments.
- APO may have to perform the duties of a clerk also during pressure hours.
- Some other works include payment clearances, maintaining of reports, official correspondence with other departments.
4. IBPS PO Vs SBI PO: Salary
The salary packages are another significant aspect to consider after the applicants have been chosen or when finding comparison between IBPS PO and SBI PO. In both jobs, there is a qualified difference in the salary and allowances granted.
- SBI PO
SBI offers a best-in-class compensation package to probationary officers. As per SBI, the total compensation per annum for a Probationary Officer would be a minimum of Rs. 7.55 lacs and a maximum of Rs. 12.93 lacs depending on the place of posting and other factors.
Basic pay for an SBI PO is Rs. 27620/-. Moreover, an SBI PO is paid four extra increments at the time of joining. It makes the salary of an SBI PO Rs. 6000 higher than a PO in other banks.
- IBPS PO
An IBPS PO draws a basic salary of Rs 23700/-. He also gets entitled to many other allowances like HRA, DA, Special Allowance, City compensatory allowance apart from the basic salary.
Hence, the gross pay of an IBPS PO amounts to Rs. 38703/- (including HRA) per month. However, HRA varies depending on the posting of the PO.
Read the full article about the IBPS PO Salary
5. Other Perks
Most of the perks offered by SBI and other banks of IBPS are similar. However, the difference lies in the amount of these perks
- An SBI PO can avail a leased accommodation for which he is entitled to draw an amount that varies from Rs. 8000/- in ‘C’ category cities to Rs. 29500/- in Mumbai.
- In the case of IBPS PO, HRA depends on the place of posting and it varies at 9%, 8%, and 7%. At some places, banks may provide Official Bank accommodation/Bank Quarter to its POs on the lease.
(b) Medical Aid
- SBI provides medical aid through the CGHS scheme allowing 100 per cent compensation for the individual and 75 per cent for his family.
- In most of the banks of IBPS, medical aid is provided as a fixed amount which currently stands at Rs. 8000/- p.a.
6. Work Pressure and Environment
There are no differences in the job characteristics of SBI PO and IBPS PO due to differences in the remuneration structures of Probationary Officers in SBI and other banks. Both have nearly identical job profiles with similar responsibilities.
- SBI PO
SBI is one of the oldest and largest Banks in India with 24,000 branches (post-merger) and also the largest network of ATMs spanning all over India. It has far greater penetration than any other Bank and constitutes around 50 per cent of the Banking services of India after the merger.
This apparently gives you a feel of the work pressure at SBI. Moreover, SBI as one of the oldest banks enjoys the loyalty of its customers. This again increases customer engagement resulting in even more work pressure.
- IBPS PO
As far as IBPS PO is concerned, most of the banks are not accessible in rural areas. Hence, the number of customers in these banks is less as compared to SBI, which renders the work pressure relatively less.
7. IBPS PO Vs SBI PO Career Growth and Promotion
When it comes to promotions and career advancement, both IBPS PO and SBI PO have similar graphs. The career path for both IBPS PO & SBI PO is almost the same which is as follows:
- Junior Management Grade – Scale I: Officer i.e. PO
- Middle Management Grade – Scale-II: Manager
- Middle Management Grade – Scale III: Senior Manager
- Senior Management Grade – Scale IV: Chief Manager
- Senior Management Grade Scale V: Assistant General Manager
- Top Management Grade Scale VI: Deputy General Manager
- Top Management Grade Scale VII: General Manager
- Executive Director (ED)
- Chairman and Managing Director (CMD)
- SBI PO
The career prospects in SBI PO are far greater than any other bank under IBPS PO. If you can effectively handle work pressure and prove your calibre to your organization you will be rewarded with more perks and benefits. Moreover, SBI also offers greater chances of foreign postings.
- IBPS PO
IBPS PO is an entry-level post in the management grade.
IBPS PO VS SBI PO Pros & Cons
Both exams offer advantages and disadvantages, which we have mentioned to make your decision a little easier. Take your time going over the list and deciding on the best path for your future.
SBI PO Pros
- Better career prospects - Promotions in the SBI are more frequent as compared to other Public Sector Banks and employees with an extra set of skills are rewarded.
- Handsome Salary - The salary package of SBI is way above what the other public sector banks offer. Along with this, 4 increments being offered by the SBI makes this post highly sought after.
- Social Status - An SBI PO enjoys a high social status and is highly revered.
- Foreign Postings - With a good network of branches abroad, SBI offers greater chances of foreign postings to its talented employees.
SBI PO Cons
- Frequent Transfers - Frequent transfers due to the high number of branches are one of the biggest drawbacks of SBI PO. There is a provision of compulsory transfer every 3 years.
- Posting in Rural Areas - Due to higher rural penetration, there are higher chances of rural posting.
- Poor work-life balance - There is immense work pressure in SBI. Hence, it becomes very difficult to maintain a work-life balance due to long working hours.
IBPS PO PROS
- Low work pressure - As compared to SBI PO, the work pressure in PSUs is far less.
- Handsome Salary - The salary of an IBPS PO is attractive and also has entitlements to various other benefits like concessionary loans.
- Job Security - There is no issue of job security as an IBPS PO. You need not fear any layoffs or recession.
IBPS PO Cons
- Rural Postings - Rural postings are not uncommon.
- Promotions - The promotions as an IBPS PO are not as frequent as an SBI PO.
All the above details will give you a clear understanding of the job profile and compensation offered to SBI PO and IBPS PO and help you in making the right decision for your career.
In retrospect, both these posts entail respect, job security, social status with them, but what really does matter is your set of priorities and concerns. If you want to grow and are ready to toil hard, opt for SBI PO. On the other hand, if you desire to have a work-life balance and considerable time for your family you should go for IBPS PO. Hence, it’s all relative.
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