What is the salary of a bank PO and what about the allowances and incentives.Joining as scale-1 how much rank
we can go in 10 years? I m in S/W field and curently getting
around 30K monthly salary and my current project(Microsoft)
is a very long term project, so there is stability in my
position for next few years. I have to appear the Syndicate
bank PO interview also now trying to give IT officer scale-
II exams. But dont know anything abt bank salary and future
growth. So can u guys plz provide any information abt this
which may help others also in this Forum. Also banks r doing
strikes for Salary hikes, Right?
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Answer / support
Hi Bunty,
I work in a public sector bank as IT Manager.
I do empathies with the answer given by fren at #6.But
believe me life is not that bad either.I worked for and IT
firm for 3.5 years and joined bank as scale 2
officer.#Yes,the payment is less,but 1 is never fired from
his/her job due to recession.infact the payment have
increased as CPI increased.
#I got perfect work life balance here which was non-
existant in my previous company.
#apart from wages,there are several other benefits like:
1.free medical to you and your family
2.Gratuity
3.Loan with negligible or no interest for employees
4.petrol allownce
5.newspaper bill reimbursement
6.All india holiday for you and dependent once in every 2
years sponsored by bank.
7.quarterly increase in Dearness Allowance
8.60 years of working age.(mind you,do you think pvt sector
bear you till the age of 57-60 yrs)
These are a few facilities which I was not getting there at
pvt firm.
personnally for me,job satisfaction is my top priority and
thus I came to public sector
| Is This Answer Correct ? | 230 Yes | 21 No |
Answer / saurabh
Hi Bunty,
I am SBI PO, I am also Computer Graduate and has
worked with an IT company for 1.5 years. Due to some reason
I had to decide to work in public sect/Govt. org and left
job. Believe me Salaries in Banks are negligible. For
working 10 years continuously in a bank you will be able to
get hardly around 30 to 40k while working for private firm
or switching may get you double of that, moreover doing job
as a banker is burdensome cuz there is a lot of trouble
(sometime you may get job to market your bank's product or
to find customer which is shear marketing job) managers
never get to home before 7:00 and you are responcible for
keys too. sometime the loan you have given to the person
change into NPA, so it will be your mistake for becoming a
LOAN into NPA and you may get a Memo for that(booked for
five years->no promotion) suppose if you get 2 or 3 memos
in your bank life, that's enough for you to be at same
position for atleast 15 to 20 yrs.
If you are thinking to join as IT Manager, take my advise
you are going to ruin your career, I'm with IT officers,
they do nothing except making salaries + mending computers
+ making payments to private venders like Hcl, ncr,
Datacraft. and also they are always be asked to set emails
and resetting password. nothing else cause SBI and other
banks have outsourced management of their whole computer
systems and networks to private companies(surprisingly they
are happy doing this).
Salary after wage revision : 14500 + 6000(other allowance)
HRA is Negligible hardly 8%
If you are desperate for govt job/psu/job surety and are
not getting other class-2 jobs than bank PO is your last
resort.
| Is This Answer Correct ? | 142 Yes | 63 No |
Answer / bunty.
I have forgotten to mention my name while posting the above question.
Well i am Bunty and waiting for ur reply friends.
| Is This Answer Correct ? | 91 Yes | 63 No |
Answer / nishad
No:7, is right. As bunty's experience by seeing huge pay in
his life may not bear less salary but disadvantage in pvt
sector's more stress, high target, pressure and as he said
no pvt company will bear till age of 57-60, atleast we get
secured job
| Is This Answer Correct ? | 39 Yes | 12 No |
Answer / rishabh soni
bunty, dont get mislead, banks pay to POs- basic salary-
14,500 + dearness allowance- 50% i.e. 7,225 + ta+ cca+ hra
(total 4000) =24, 725/- there is a quarterly increase in da
approx. 500/ quarter.. + 2 years of proation is two years of
training whish is of utmost importance. within 10 years
scale III means- salary approx. 42,000/-. and the job is
very respectable, u r not just an employee, but an officer.
after that if u switch a 10 years exp in a bank as an
officer will fetch u top management grades in any company in
finance dept.. like finance head or CEO, etc.. fetching a
salary of approx. 70, 000 on an avg...
| Is This Answer Correct ? | 20 Yes | 4 No |
Answer / karan
the initial salary for bank po will be 16000+ depending
upon the station you are posted at.you can become scale 3
in 10 years or even scale4
| Is This Answer Correct ? | 43 Yes | 36 No |
Answer / bunty.
Thanx Karan for the info.
Why its so less yaar, i mean now a days these banks
are doing huge profits around 30 to 40% net profits quarterly basis, but giving so less.
I think SBI is giving more salary for bank po compared to others. One of my friend told SBI,PNB,BOB and BOI these should be the 1st preference in terms salary and size of the company if we consider in banking sector.
Any how thinking now to appear only IT-Officer scale-II
exams in the future instead of Bank PO positions becoz they need so much practice which i can't give and also my exp in IT fields will be wasted in bank PO.
Thanx and do provide some more info if u get regarding banking jobs.
Bunty.
| Is This Answer Correct ? | 24 Yes | 17 No |
Answer / manish kaim
hi guys. there are pros and cons of a po job. the pros are
what no. 7 has mentioned above and the cons are that,
according to me the person who is so much educated and
intelligent if that person gets a salary of about 2k then
its very very less keeping in mind the work pressure, work
load you gonna get in the bank service. i was surprised to
know that the clerks in bank get only 12-14k. this is
really bullshit. my advice for u is better try ssc jobs as
they will pay u a good sum and the growth is rapid and
certain.
| Is This Answer Correct ? | 27 Yes | 24 No |
Answer / amit
Salary in comparison to any other sector is very lower and hence no IT guy is wishing to join Banks. I was in Dena Bank as office IT, I as well as all the others who joined with me in the same batch has already left. Yearly increment is not more than 1000 /- and next promotion needs internal exam system or to wait for at least 7 years, which is ridiculous. If you are comparing bank with government organisation it is not equitable.
| Is This Answer Correct ? | 18 Yes | 18 No |
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