SBI Pay Scale, Salary, Allowance, Perks, Matrix For, Associate Officer & Deputy Manager, Probationary officer,Bank PO Revision After 7th Pay Commission
It cannot be denied that SBI is one of the best public sector banks all over India. And working within SBI bank can be undoubtedly said to be one of the best jobs that anyone could even dream of. Every year there are a huge number of candidates appearing in the SBI examinations for attaining a post within SBI. This article is going to offer you the complete details about the salary, and the allowances of SBI employees. The salaries and pay structure depends on the experience, and academic qualification.
SBI Pay scale for PO
This is said to be one of the most important posts and is designated as just before any managerial position. Considering the recruitment process of SBI PO, the basic pay of an SBI PO starts from a salary of Rs 41, 877 every month. An SBI PO can earn a CTC of 8 Lakh per annum. This pay comprises of HRA, conveyance, medical, HTC/LFC. The perks available for an SBI PO are coverage within pension scheme, housing (both lease and rental), concessional interest rates for housing/car and personal loans, newspaper reimbursement and medical aid.
SBI Pay Scale for Clerks
Now, this is not the same post as clerks of any other public sector banks and the opportunities of SBI clerks are quite high. This job is really popular among the young generation of India. The bank clerks get a great chance of promotion. The pay scale ranges from Rs 1, 38,808 to Rs 3, 75,517 every year. They are also eligible for other perks and facilities like DA, HRA and medical facilities but it depends according to promotion, designation and qualification.
SBI Pay scale for Deputy Managers
The State bank of Indian deputy Manager Post is one of the most desired posts by any individual looking for a job in India. It is considered as one of the best and most respected post among the Indian central government job designations. The salary structure of SBI Deputy Manager varies according to academic qualification and experience. It ranges from Rs 20, 641 to Rs 52,000. The estimate has been made considering the 13 state bank of India salary reports that is offered to the employees. There are a lot of perks and allowances for this posts and they are DA, HRA, City Compensatory Allowance and Transport Allowance.
SBI pay scale for junior associate
The junior associate salaries are varied according to the different cities and for SBI junior associates who are established in metro cities like Kolkata, Mumbai, they are offered with a pay band of Rs 20950. And for the class Y cities, the pay structure is INR 20% of the DA which amounts to Rs 20000 and for the class Z cities; the pay band is Rs 19000. Along with this pay structure, the employees are also offered with PF, gratuity, new pension schemes, leave and medical fares.
SBI pay scale for Probationary officers
The SBI probationary officer’s basic pay is Rs 27620 and it also offers 4 advance increments throughout their job lifetime. At the same time, SBI is also planning to offer a completely new compensation package called smart compensation package that enables candidates for monetizing different elements within the pay structure. This is a new feature that has been introduced by the SBI. Apart from that, there are perks and allowances for SBI probationary officers that includes Bank’s contribution to PF, Housing (lease rental that ranges from 8lk to 20k) and other allowance that ranges from newspaper allowance, entertainment allowance, conveyance, etc.
Revision under 7th CPC
Within the 7th pay commission, a huge number of employees have been eagerly waiting for the change in the pay scale of Bank employees and that has finally come true. There have also been demands for merging the banking sector but the public sector banks salaries are not at par with the other government jobs. It has been notified that the new salary structure within public sector banks shall be effective from 1st November 2017. This has been termed as unprecedented by the bank employees because this is the first time in history that government has requested to the parties to come to a conclusion before the last date. Thus, a huge number of bank employees are looking forward to the increment within their pay structures.
A tabular comparison of the salary structure of SBI and other bank employees
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