IBPS SO Salary 2023 | Check Job Profile and Career Growth

IBPS SO Salary: While checking on the Institute of Banking Personnel Selection (IBPS) Specialist Notification after checking out the number of vacancies, students will go for the IBPS SO Salary. They are eager to know the salary as per the post they want to apply for.

IBPS is responsible for hiring clerks in multiple national public sector banks. The recruiting test, which is held every year, is used to ease the selection process. IBPS expected to announce over 1000+ vacancies for the 2023 IBPS Specialist this year. It is a fantastic platform for one, who wants to work in the banking and finance industry.

So, if you are aiming for the IBPS SO 2023 Exam and want to know the IBPS SO Salary structure, job profile, and so on, read this article to the end.

Must-Read IBPS SO Salary 2023

• The salary of IBPS SO includes the 7th pay commission for all the posts of IBPS Specialists Officer.
• In the IBPS SO Selection Process 2023, students have to clear three levels- Prelims, Mains, and Interview Process.
• The selected candidates get the approximately 36% (INR 8600/-) per month as the dearness allowance.
• After all deductions, the IBPS SO Salary In-Hand will be in between INR 33000- INR 35000/- per month.

This article is based on the IBPS SO Pay Scale 2023. Also, candidates will get important information like- perks, several allowances, career growth, job profile.

Get down to the article to know the complete detail about the IBPS SO Salary 2023.

IBPS SO Salary Highlights 2023

Conducting Body	IBPS (Institute of Banking and Personnel Selection)
Name of the Exam	IBPS SO (Specialist Officer)
Release Date of Notification	Tentative
Selection Process	Prelims, Mains, Interview Process
Number of Vacancies	1000+
Basic Pay	INR 23,700 per month
In-Hand Salary (after all deductions)	INR 33000- INR 35000/- per month
Salary without Deduction	INR 38000/ to INR 39000/- per month
Allowances	Dearness Allowance, House Rent Allowance, Special Allowance, City Compensatory, Lease, PF, etc.
Official Website	www.ibps.in

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IBPS SO Post-wise Salary 2023

The IBPS SO 2023 Salary based on the posts are mentioned below in the table-

Grade	IBPS SO Salary
Officer Scale-I	Monthly salary– INR 36400/- Pay Scale– INR 23700-980/7-30560-1145/2-32850-1310/7-42020
Officer Scale-II	Monthly salary- INR 48800/- Pay Scale- INR 31705-1145/1-32850-1310/10-45950
Officer Scale-III	Monthly salary- INR 64600/- Pay Scale- INR 42020-1310/5-48570-1460/2-51490

Detailed IBPS SO Job Profile 2023

In the below table, here IBPS SO Job Profile for each post come under the IBPS SO:

Name of the Post	Job Profile
Agriculture Field Officer	Promote rural banking and form lead. Understand the core and financial needs of people in rural areas. Connect with other NABARD, RRBs, and other organizations. Loan inspection and improvement in rural areas.
IT Officer	Look after the core banking system. Manage technical concerns of the banking system. Develop and transform the software. Look after the security operations of the bank to avoid cybercrimes.
Rajbhasha Adhikari	Proofread and translate significant documents used in the banking system. Conduction of language-related seminars. Promote and instruct employees in the local language.
Law Officer	Handle all the legal matters of the bank. Represent the bank in case of litigation filed. Monitor deviations and authenticity of the banking system.
HR/ Personnel Officer	Maintenance of employee database. Conducting the recruitment process. Performance and evaluation of employees. Designing welfare schemes, promotion, and benefit of all employees
Marketing Officer	State-wise or region-wise marketing and promotional activities. Increase profit by cost-effective methods. Promote his bank, build customers, and bring new business deals.

IBPS SO Pay Scale Components 2023

It is important to know the various components of the IBPS SO Pay-Scale. Check the following points to know the details of different components-

1. Basic Salary- 23700- 980 (7)- 35560- 1145 (2)- 32850- 1310 (7)- 42020
2. Dearness Allowance- It is the cost of living, which is 36% of the basic salary, approximately INR 8600/- per month.
3. House Rent Allowance (HRA)- It varies between 7% – 9% based on the post. House Rent Allowance is paid bank to the workers for expenses in accommodation in any town of the country.
4. Special Allowance- It is the bonus amount, which can vary based on the employees’ performance.
5. City Compensatory Allowance- It is given to the workers to help in living in the high-end lifestyles of a metropolitan city, which is lies between 0%- 4%.
6. Lease Allowance- This can be taken up to INR 29500 by the workers based on their work location. In place of House Rent Allowance, lease accommodation is optional.
7. Provident Fund Contribution- It varies between INR 3000/- to INR 3500/-.

Overview of the Allowance 2023

Look at the table to know the overview of the IBPS SO Allowances-

House Rent Allowance	7%-9%(Location dependent)
Dearness Allowance	INR 8605.88
Special Allowance	7.75%(Scale I)
City Compensatory Allowance	0-4%(depends on location)
Miscellaneous	INR 4100

Final IBPS SO Salary In-Hand 2023

• IBPS SO In-hand salary is the cumulative amount the employee gets after deduction due to multiple factors. INR 38000 – INR 39000 is the approximate gross salary of IBPS SO.
• After several deductions, the employee receives a total of INR 33000 – INR 35000, which is the in-hand salary.

Check the IBPS Specialist salary slip for your reference from the image below:

IBPS SO Perks and Benefits 2023

Here is the list of the other allowances and perks received by the IBPS SO employee apart from the attractive salary that is offered-

• Newspaper Allowance
• Medical Allowance
• Entertainment Allowance
• House and Furniture Allowance

IBPS SO Career Growth 2023

The applicants selected for the IBPS SO Scale I and Scale II positions will undergo training, workshops, and assessment to improve the promotion skills. Based on the work performance of the employee, IBPS SO gets a promotion in the career to advancing the standard of living.

Given below is the list of hierarchy of the 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

Get Other Highly Important Essentials for IBPS SO Exam

IBPS SO Exam Analysis

Exam Analysis helps candidates understand the exam level, IBPS SO Exam Pattern, and what topics are important in relation to the exam. Before appearing for the IBPS 2023 SO Exam, you should go through the complete details of the IBPS SO Exam Analysis. It will help you to prepare well on the most important topics that are mostly asked for all the years of the IBPS Exam.

Frequently Asked Questions (FAQs) of IBPS SO Salary

We have covered a detailed guide on the IBPS SO Salary. If you have any queries, feel free to ask us in the comment section below.