IBPS SO Salary 2023: Job Profile, Perks & Promotions, In-hand Salary After 7th Pay Commission


IBPS SO Salary 2023

IBPS SO Salary 2023: Institute of Banking Personnel Selection (IBPS) is an autonomous body that operates as a Personal Selection Body for Nationalised and Rural Banks. IBPS SO examination is conducted by IBPS every year to fill up the post as a Specialist Officer in the categories mentioned in this article. The IBPS SO Salary received by an employee is very lucrative. The IBPS PO salary is one of the major reasons for candidates to get into the banking domain apart from security, lucrative perks and allowances. 

IBPS SO Basic Pay is Rs 23,700/- and in-hand salary is Rs 38000/- to Rs 39000/-. Working as a Specialist Officer is a highly reputed job that demands special qualifications for all six different posts. Check all the details about IBPS SO Salary, Job Profile, Career Growth, and Promotion Policy of  IBPS SO.

IBPS SO Salary 2023

This article covers Post Wise Salary, Salary In Hand After 7th Pay Commission, Job Profile, Growth Opportunities, Perks, and Other Benefits. The following table shows the 6 posts for which IBPS SO Recruitment 2023 has been made.

Post CodePost Name
01I.T. Officer (Scale I)
02Agricultural Field Officer (Scale I)
03Rajbhasha Adhikari (Scale I)
04Law Officer (Scale I)
05HR/Personnel Officer (Scale I)
06Marketing Officer (Scale I)

IBPS SO 2023 Notification Out for 710 Vacancies- Click to Apply online

IBPS SO Salary In Hand

The successful candidates of IBPS SO will be placed in the Junior Management Grade Scale I Cadre. The pay scale for all the posts is more or less similar. The following will give you an idea of the IBPS SO 2023 In-Hand Salary after the 7th Pay Commission.

IBPS SO Basic Pay is Rs 23,700. The pay scale for IBPS SO is 23700-980(7)-30560-1145(2)-32850-1310(7)-42020. The IBPS SO Gross Salary is Rs. 38000- 39000.

In-Hand SalaryThe gross salary of IBPS SO is Rs 38000/ to Rs 39000. After all the deductions, the employee gets Rs 33000/ to Rs 35000/ as an IBPS SO.

IBPS SO Salary – Job Profile

The type of work performed by each Specialist Officer varies from post to post. Given below are the type of works performed by each one of them.

PostWork Profile
Agriculture Field OfficerPromote rural banking and generate lead.Understand the core and financial needs of people in rural areas.Coordinating with other RRBs, NABARD, and other organizations.Loan inspection and recovery in rural areas.
IT OfficerLook after the core banking system.Manage technical issues of the banking system.Develop and modify the software.Look after the security systems of the bank to avoid cybercrimes.
Rajbhasha AdhikariProofread and translate important documents used in the banking system.Conduction of language-related workshops.Promote and train employees in the local language.
Law OfficerHandle all the legal affairs of the bank.Represent the bank in case of a suit filed.Monitor errors and authenticity of the banking system.
HR/Personnel OfficerMaintenance of employee database.Conducting the process of recruitment.Performance and evaluation of employees.Designing welfare schemes, promotion, and compensation of all employees
Marketing OfficerState or region wise marketing and promotional activities.Increase profit through cost-effective methods.Promote his bank, increase customers, and bring new business deals.

IBPS SO Perks & Benefits

Apart from the attractive salary that is offered, an IBPS SO is entitled to other perks as well. It includes a Leave policy, Leave Travel Allowance, Holiday Homes, Conveyance allowance,  Newspaper allowance, Medical allowance, Entertainment allowance, House and furniture allowance, etc. The IBPS SO officers receive a compensation of Rs. 7.55 lacs to Rs. 12.93 lacs. It may vary depending on the place of posting and other factors.

AllowanceValue/ Remarks
Dearness Allowance36% Approx. Rs 8600/
House Rent AllowanceAs per the place of posting of the candidate, it is between 7% to 9%.
Conveyance AllowanceA fixed amount of fuel expense depending upon 2 wheeler or 4 wheeler
Special AllowanceIt is the incentive or performance-based bonus given to each employee.
It is about 7.75% of DA+Basic.
City Compensatory AllowanceAs per the place of posting of the candidate, it is between 0% to 4%
Lease AllowanceIn place of HRA, lease accommodation is optional and can be availed up to Rs29,500/ as per the place of posting.
PF ContributionIt varies between Rs 3000/ to Rs 3500/

IBPS SO Promotion Policy

All the successful candidates who are selected for Scale-I and Scale-II posts and will undergo training, workshops, assessments to improve their skills and be eligible for promotions. Based on the work performance, IBPS SO gets a promotion in his career to raise his standard of living. Given below is the list of hierarchies that are followed in IBPS SO promotions.

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

5 Reasons Why You Should Join IBPS SO

Some of the reasons that motivate candidates for applying to IBPS SO various posts are as follow.

  1. Great Pay Scale
  2. Fair Chances of Promotions
  3. Fewer Chances of Job Transfer
  4. Security and Flexibility of Job
  5. Amazing Incentives, Perks, and Other Allowances

So, kick start your preparations for a bright and secured future as an IBPS Specialist Officer.

IBPS SO Salary 2023- FAQs

Q. What is the basic pay of IBPS SO 2023?

Ans. The basic pay of IBPS SO 2023 is Rs. 23,700/-

Q. What is the in-hand salary of an IBPS SO Officer?

Ans. The employee gets Rs 33000/ to Rs 35000/ as in-hand salary for IBPS SO officer posts.

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