IBPS SO Salary 2024:The IBPS SO salary is one of the most searched topics on the internet today. The candidates preparing for this examination should be aware of the salary received by the Specialist officer of the banks. There are many components of the salary that should be discussed here. Every year Institute of Banking Personnel Selection conducts the examination for the specialist officer (SO) in multiple banks across the nation.
The IBPS SO has been a very highly attractive job for candidates who have done their studies in a professional background. Specialist officer has always been in demand in the banking sector because of the admiration and respect they get in the organization. In addition to this, they are also liable to multiple allowances and benefits.
Therefore, each and every candidate who is appearing for this examination should go through this article to understand the salary,in-hand salary, job profile of SO and all the allowances and benefits they get during the course of their service. This will also help the candidate in upgrading his skills prior to applying for the job.
IBPS SO Salary 2024- Salary Structure
The IBPS SO salary is one of the major aspects due to which many students appear for this examination. The Specialist Officer’s salary varies according to the post and grade they are in. According to the experts, if the 11th Bipartite Settlement is implemented, the SO employees will get a hike of almost 40% in their basic pay.
Generally, the IBPS SO salary is according to the scale on which they have been designated. The table below gives a basic idea about the salaries of all three scales.
|IBPS SO Wages
|Officers in Scale 1
|Rs 36,400 per month salary
Income Scale- Rs. 23700-980/7-30560-1145/2-32850-1310/7-42020
|Officers in Scale 2
|Rs 48,800 per month salary
Income Scale- Rs. 31705-1145/1-32850-1310/10-45950
|Officers in Scale 3
|Rs 64,600 per month salary
Income Scale – Rs. 42020-1310/5-48570-1460/2-51490
IBPS SO Salary 2024-Allowances and Benefits
The IBPS SO salary also includes certain Allowances and Benefits.
The allowances have been indicated below with the percentage of deductions. They are as follows :
- HRA or House Rental Allowance – It can be around 7 to 9 % depending on the job location.
- Dearness Allowance or DA – It can be understood as living costs in a city. It is almost 36 per cent of the employee’s basic pay. If calculated comes to around Rs 8000.
- City Compensation Allowance – This allowance is given to candidates living in metropolitan cities. It is around 0 to 4% and depends on the metropolitan city posted.
- Special Allowance – It can be called a performance allowance and can be around 7.75 % for scale 1 SO officers.
There are many benefits to which the Specialist Officer is liable besides his salary. We are listing some of them here :
- The SO of the banks is entitled to the conveyance allowance. The meaning of this allowance is that if an officer possesses a 4-wheeler vehicle. Then the officer will be provided with a fixed amount of fuel expense and also the service charge for the vehicle on a monthly basis.
- A lesser known allowance is the Newspaper Allowance. The officer also gets the expense of newspaper from the bank.
- The policies regarding leaves are also attractive. The employees get casual leaves, privilege leaves and many medical leaves. For the women specialist officers, 6 months of maternity leaves are being provided. The concept of sabbatical leave is also there for the employees.
- A benefit of the Leave Travel Concession (LTC) can also be demanded by the employee from the bank.
IBPS SO Job Profile of Every Specialist Officer
The IBPS recruits special officers in different fields and for various designations. For the student’s convenience, we have created a table for them. It will be a lot easy for them to remember the job profile of each specialist officer.
|Designation of Specialist Officer
|Information Technology Officer
|-They take charge of the core banking system.
– Keep an eye on the technical issues and resolve them.
-Also develop software and update them as soon as possible.
-Security of the banking system is the most important duty of an IT officer. They are responsible for security against cyber crimes.
|Agriculture Field Officer
|-Responsible for providing banking services to rural areas.
– Many times harmonize with the rural development organisations and also with NABARD.
|-He/she is the authority who is responsible for promoting the official language.
– Also responsible for proofreading and translating important documents in the banks.
|-All the legal events come under his umbrella.
-He is the responsible authority representing the bank if any case is filed against them or the bank files a case against someone.
|-They are responsible for the marketing done in the region and also look after the activities that promote the bank policies.
-Helps the banks to grab business deals in the market.
|-Responsible for the database of the employees and keeping an eye on their performance.
-Develop welfare schemes for the employees of banks
-Manages the promotion and compensation of the employees.