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SBI PO Vacancy - Check Salary Structure and Vacancy Details

PriyankaUpdated On: July 19, 2022 05:16 pm IST | SBI PO

State Bank of India releases the notification for the SBI PO exam on its official website - sbi.co.in. Read details regarding the SBI PO Job Profile, Responsibilities, Salary etc.

SBI PO Vacancy

SBI PO Vacancy 2022: State Bank of India (SBI) will conduct the SBI PO 2022 exam to choose qualified applicants for the position of Probationary Officers (PO) in various State Bank of India branches. One of the most sought-after positions in the banking sector is SBI PO, which is the goal of millions of hopefuls in India. Because of the following factors, SBI PO is regarded as a top employment opportunity in the banking industry:

  • The brand value of SBI and the standing of the SBI PO post.
  • The highest compensation scale among PSU Banks, which is lucrative.
  • Possibilities for advancement, even for POs, up to and including Chairperson.
  • Social standing and job happiness.

Read the article to know more about SBI PO Vacancy, pay scale and much more. 

SBI PO 2022 Exam Summary

Below are all key details regarding the SBI PO Recruitment 2022 exam:

Name of ExamState Bank of India Probationary Officers Exam (2022)
Conducting BodyState Bank of India
PeriodicityAnnual
Exam LevelNational
Mode of ApplicationOnline
Mode of ExamOnline (CBT)
Application ProcessTBA
Exam Rounds3 (Prelims + Mains + Interview)
Exam DatesExam Dates
SBI PO SalaryRs. 65,780- Rs. 68,580 / Month
Job LocationAcross India
Official Websitesbi.co.in

Also Read: SBI PO Eligibility Criteria

SBI PO Vacancy 2022

Along with SBI PO Notification 2022, SBI PO Vacancy will be made public. The State Bank of India reported a total of 2056 open Probationary Officer positions for FY 2021–2022. Here is a breakdown of SBI PO Previous Year Vacancies.

SBI PO Vacancy

CategoryVacancyBacklogTotal
SC30024324
ST15012162
OBC54020560
EWS200---
GEN810-810
Total2000562056

SBI PO Vacancy (PwD Category)

CategoryVacancyBacklog
Total
LD20-20
VI200121
HI203656
d & e200929

SBI PO 2022 Salary Deductions, Benefits

The base pay for an SBI Probationary Officer is Rs 41,960. The compensation for a probationary officer is 36,000-1490/7-46430-1740/2-49910-1990/7-63840 with four advance increments, according to the modified Bipartite Settlement. In other words, the PO will start off with a basic income of Rs. 36,000 and receive an annual raise of Rs. 1490 for the next seven years, then a basic salary of Rs. 46430 and earn an annual raise of Rs. 1740 for the following two years, and so on. Rs 63840 is the maximum basic salary.

SBI Probationary Officer Salary Structure

Candidates should be informed of the pay scale for the SBI Probationary Officer position before applying:

Basic PayRs. 41,960
Special AllowanceRs. 6,881
DARs. 12,701
Location AllowanceRs. 700
Learning AllowanceRs. 600
HRARs. 2,937
Gross SalaryRs. 65,780
Deduction (PF/Income Tax/Professional Tax/Pension)Rs. 12,960
Net SalaryRs. 52,820

Before applying for SBI PO, candidates must have a thorough understanding of all pay and benefit options in order to know what to expect if they are selected for the position. Additionally, we covered the job description, duties, and obligations of an SBI PO that they will be handling. To determine if this is the correct position, we firmly advise all candidates to become familiar with all remuneration information.

What is SBI PO In Hand Salary?

With a base pay of Rs. 41,960, the beginning salary for an SBI PO is between Rs. 52000 and Rs. 55000 per month. The lowest annual gross salary is Rs. 8.20 lakhs, while the maximum annual gross salary is Rs (highest). SBI Probationary Officers are additionally entitled to base pay, Lease Rental/ HRA, DA, Medical, CCA, and other benefits. The cost varies according to the location of the job posting.

Starting Salary of SBI PO Officers and Increment

An SBI PO officer will receive a basic salary of Rs 36,000 in the first year. The officer will receive a 1490 rupee raise for the first seven years. The officers would receive an increase of Rs. 1740 along with a pay of Rs. 46430 for the next two years. The officer will then receive a salary of Rs. 49910 for the following 7 years, with an annual raise of Rs. 1990. After this time, the candidates would be paid Rs. 63840.

Basic PayRs 41,960/- (Increment in 4 stages):
1st IncrementRs. 36000-1490/7
2nd IncrementRs. 46430-1740/2
3rd IncrementRs. 49910-1990/7
4th IncrementRs. 63840

SBI Probationary Officer Allowances

According to the rules in effect at the time, SBI POs are eligible for perks including DA, HRA/Lease Rental, CCA, Medical, and other allowances and perquisites. The annual compensation received by an SBI PO officer is influenced by location and other factors. Candidates interested in learning more about the pay and promotions an SBI PO officer receives should consult the chart below. The following list of allowances is available for an SBI PO officer:

AllowanceAmount
Dearness Allowance26% of the Basic Pay
City Compensatory Allowance 3% to 4%
House Rent Allowance 7% to 9%
Furniture Allowance Rs. 1,20,000
Medical Insurance 100% covered for employees
Travelling AllowanceAC 2-tier fare is reimbursed to the employee for official travels
Petrol AllowanceRs. 1,100 – 1,250

SBI Bank PO Salary Deductions

While it's crucial for applicants to understand the in-hand compensation for an SBI probationary officer while completing the application, paying close attention to the salary deductions is also worthwhile. Candidates who are selected to become SBI POs will get a monthly in-hand wage; however, a portion of their gross income will be withheld.

These deductions could be for professional taxes (PT), income taxes, or something else. View this to learn more:

ParticularsDeductions
Provident Fund (PF) ContributionRs.4,196/-
Income Tax (IT)Rs.3,290/-
Contributory Pension FundRs.5,274
Professional Tax (PT)Rs.200/-
Total DeductionsRs.12,960/-

What benefits are provided to SBI PO?

An SBI PO applicant also receives the following incentives in addition to the previous allowances:

  • medical insurance (100 per cent for SBI PO and 75 per cent for family members)
  • Cashless services are available in some hospitals around the nation.
  • newspaper subsidy
  • allowance for books and magazines
  • gasoline allowance
  • Allowance for home maintenance
  • Payment of telephone bills
  • entertainment allowance
  • Concession for departure/return travel
  • Concessional interest rates for personal loans, automobile loans, and mortgages

The position provides individuals a solid salary, opportunities for advancement, and the social standing they seek.

SBI PO Career Path

A two-year probationary period will be required of candidates chosen through the SBI PO exam. They will be evaluated for their performance while they are on probation. The Junior Management Grade Scale I will be confirmed for those who pass the bank-determined assessments.

The bank has the power to terminate a candidate's job if they don't meet the necessary standards. Candidates will then be promoted to higher roles based on their performance, work history, and other factors.

The bank offers individuals numerous chances to advance in their professions. Additionally, it offers the possibility of postings abroad. The following chart shows the career path that leads from the position of SBI PO:

  1. Deputy Manager
  2. Manager
  3. Chief Manager
  4. Assistant General Manager
  5. Deputy General Manager
  6. General Manager
  7. Chief General Manager

SBI PO Job Profile, Roles and Responsibilities

The duties of an SBI PO include managing administrative tasks, providing customer care, processing loans, creating bank accounts, etc. Various aspects of banking, such as retail banking and rural banking, will also be covered.

Probationary Officers also receive training at SBI training facilities in addition to this type of on-the-job instruction. After the probationary time, SBI PO, or Junior Management Grade Scale-I, will go through screening. They will be elevated to Officer Middle Management Grade Scale-II after passing the test.

Candidates can concentrate on studying for their tests now that they have all the information they need concerning the SBI PO pay scale. Candidates must improve their test-taking abilities, such as time management and question choice.

FAQs

What is the highest position an SBI PO may hold in the banking industry?

Over time, SBI PO might advance to the highest position of Chief General Manager.

When may SBI PO officers anticipate a raise in pay?

The salary increases for SBI PO officers range from 7 years to 2 years to 7 years.

What is the probation period for an SBI PO officer?

 The probation period for SBI PO officers is 2 years.

What is the SBI PO's in-hand salary?

Probationary Officers at SBI typically make roughly Rs. 50,000 in take-home pay. The applicants' take-home pay, however, is based on their location and other criteria.

: What is the starting basic pay for SBI PO?

At the time of joining, the SBI PO Basic Pay is INR 41,960.

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