SBI PO 2015 Salary Structure

SBI PO 2015 last date to apply has been extended to 07.05.2015

Here we come again but this time to give you some insights regarding the salary structure of the SBI probationary officer. A brief about what SBI would offer you in terms of salary and other benefits and also an overview about salary structure for the previous year. So are you excited?? Go through the post for more details. Hope this information motivates you to study harder. All the very best & happy studying!!!

Well, there is not much difference in the salary that SBI is offering but it is still quite attractive I should say.

First let us see, what SBI had offered for the year 2014:

  • The starting basic pay is 16,900/-(with 4 increments) in the scale of 14500-600/ 7-18700-700/2-20100-800/7-25700 applicable to Junior Management Grade Scale I.
  • The official will also be eligible for D.A, H.R.A & C.C.A as per rules in force from time to time. The compensation per annum at Mumbai is around Rs. 8,40,000/-.
  • The breakup of ` monthly compensation is as under:

Cash Component 34,320/-

Bank’s contribution to PF 1,690/-

Housing (Lease Rental) 29,500/-

Perquisites (Conveyance, Newspapers, Entertainment allowance, House & Furniture Maintenance etc.) 4,130/-

In addition, the officers are also entitled to other benefits like –

(i)Medical Aid for self (100%) and for family (75%)

(ii) Home Travel Concession/Leave Fare Concession

(iii) Concessional Interest Rates for Housing/Car/Personal Loans

The salary scales are under revision with effect from November 2012

And for the current year (2015) SBI is offering the following Payment structure:

  • The starting basic pay is Rs.16,900/-(with 4 increments) in the scale of Rs. 14500-600/7-18700-700/2- 20100-800/7-25700 applicable to Junior Management Grade Scale I.
  • The official will also be eligible for D.A, H.R.A & C.C.A as per rules in force from time to time. The compensation per annum at Mumbai is around Rs. 8,55,000/-.
  • The breakup of monthly compensation is as under:

Cash Component: 36,046/-

Bank’s contribution to PF: 1,690/-

Housing (Lease Rental): 29,500/-

Perquisites (Conveyance, Newspapers, Entertainment allowance,

House & Furniture Maintenance etc.): 4,130/-

In addition, the officers are also entitled to other benefits like –

(i)Medical Aid for self (100%) and for family (75%)

(ii) Home Travel Concession/Leave Fare Concession

(iii) Concessional Interest Rates for Housing/Car/Personal Loans

The salary scales are under revision with effect from November 2012.

CAREER PATH:

The Probationary Officers will be on probation for two years during which they will be given intensive training. Towards the end of their probation / training period, they will be subjected to a screening process. While those Officers who achieve the predetermined standards may be confirmed and given placement in the next higher grade i.e., Officer Middle Management Grade Scale-II, others who qualify in the test but fail to achieve the standards set for placement in Middle Management Grade Scale-II, will be confirmed as Officer Junior Management Grade Scale-I. The services of those Officers who fail to qualify in this process will be terminated. Bank provides immense opportunities for growth in the Bank including opportunities for postings abroad. The attractive promotion policy of the Bank provides an opportunity to the meritorious and exceptionally brilliant officers to reach the Top Management Grade in a reasonably quick time.

So GOOD LUCK!! for your bright future with SBI.

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