IBPS PO Salary 2024: IBPS PO is one of the most sought-after banking jobs in the country. This job comes with an attractive salary package which is the primary reason for many candidates to apply for this post. Today in this article we will discuss about IBPS PO salary, perks, and perks. The reason behind such high salaries in banking sectors and IBPS PO is that they do not follow the 7th Pay Commission. Banks follow bilateral agreements to assess and revise the IBPS PO salary. Today you will get to know how much salary a Probationary Officer can get after clearing the IBPS PO exam and getting a job in one of the 11 participating banks of IBPS. The IBPS PO salary has been updated in November 2020 based on the 11th bilateral agreement. The basic salary of an IBPS PO joinee is Rs 36000
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IBPS PO Salary 2024
Below we have presented the revised salary structure of IBPS PO as per the 11th Bipartite Agreement in November 2020.
| IBPS Bank PO Salary Structure in India | |
| Basic Pay | Rs. 36,000 |
| Special Allowance | Rs. 5,904 |
| dearness allowance | Rs. 8,593.20 |
| CCA | Rs. 1,400 |
| Teaching Allowance | Rs. 600 |
| DA Others | Rs. 1,552.50 |
| House Rent Allowance | Rs. 3,240 |
| gross salary | Rs. 57,289.70 |
| Deductions (Tax & NPS) | Rs. 4,659.32 |
| net salary | Rs. 52,630.38 |
IBPS PO In-Hand Salary
The starting salary for IBPS PO is Rs 52000 to 55000. It also includes dearness allowance, house rent allowance, travel allowance and other allowances. After deductions, IBPS Probationary Officer gets around Rs 52000 to 55000 per month.
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IBPS PO Salary in India after bilateral agreement
Until the new amendment comes in, the 11th Bipartite System will continue to define the salary of IBPS PO. The 12th Bipartite System is due to come in 2024. Below is the complete current package for IBPS PO. IBPS PO Salary- Allowances and Perks
| IBPS PO Allowances | |
| IBPS PO Basic Pay | Rs.36,000/- (Increase in 4 steps) |
| House Rent Allowances | 7%-9% of basic pay |
| dearness allowance | 23.87% of basic pay (varies depending on the inflation rate) |
| City Compensatory Allowance (CCA) | 3% or 4% (depending on the place of posting) |
| Special Allowance | 7.75% of basic pay |
IBPS PO House Rent Allowance (HRA):
The House Rent Allowance for an IBPS PO officer depends on the city he is posted in. HRA is divided into three slabs: 9%, 8% and 7%. HRA is allotted to officers depending on the type and size of cities.
IBPS PO Dearness Allowance (DA):
Dearness Allowance is given to all government employees and IBPS PO is no different. It is a fixed percentage of their salary which is revised after every three months based on the Consumer Price Index data.
So this was all about the salary of IBPS PO personnel. For all those candidates who want to make their career in the banking sector, IBPS PO offers a wonderful opportunity.