4/15/2014 Bankers Adda: SBI: Salary Structure and Perks

http://www.bankersadda.com/2014/04/sbi-salary-and-perks.html 1/4

BANKING DAILY QUIZ ENGLISH FRESH VACANCY GK UPDATES IBPS CLERK IBPS PO INTERVIEW PREP RESULTS SAMPLEPAPERS SHORTCUTS SSC
SBI: Salary Structure and Perks
Many aspirants are confused about the difference between an SBI PO to
other bank POs. This article tries to throw some light on differentiating SBI
POs as compared to PO jobs with other banks (SBI POs Vs Other bank
POs). When compared to other Bank POs, SBI Probationary Officers
exam is very popular and the most sought after banking exam in India.
Cracking this examination paves the way into Indias largest public sector
bank that offers everlasting career opportunities. With the following
aspects discussed below, one will understand why SBI POs are most
admired bank jobs in India.
What Makes SBI POs the favorite!
Brand SBI: State Bank of India (SBI), with a 200 year history, is the
largest commercial bank in India in terms of assets, deposits, profits,
branches, customers and employees. The Government of India is the
single largest shareholder of this Fortune 500 entity with 61.58%
ownership. SBI is ranked 60th in the list of Top 1000 Banks in the world by
"The Banker" in July 2012. The group has an extensive network, with over
20000 plus branches in India and another 186 offices in 34 countries
across the world. , thus making it the largest Indian Banking and Financial
business setup. It is a matter of pride to be associated with such reputed
employer.
Salary, Perks & Lease House Facility:
SBI POs are rewarded with an 8 Lac annual CTC for entry level position
which is considered to be the best in the industry. The perks include
Dearness, Petrol, News Paper and Furniture allowances. This is inclusive
of leased accommodation at Rs 20,000 per month in the metros.
Exposure:
With diverse business outfits that SBI operate in, State Bank of India
provides abundant career scope and exposure to its employees in the
areas of Agricultural Banking, Credit Rating, Marketing, Cross Selling,
Forex and Treasury etc. After probation, SBI POs command a high market
value in the banking industry.
Career Growth Prospects:
In SBI there are promotions in every 2-3 years, hence an SBI PO can
scale up to new heights in the hierarchy much faster as compared to other
banks POs. With the bank operations spread across geographies, foreign
postings are also a possibility. Continuous learning opportunities are
available through well-designed training and development programs.
The Probationary Officers will be on probation of two years during which
they will be given intensive training. Towards 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 the test but fail to achieve the standards
set for placement in Middle Management Grade Scale II, will be confirmed
as Officer Junior Management Scale Grade 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.
Four increments: State Bank of India is the only bank which gives 4
increments while joining in it as probationary officer.
No Bond System: Even those candidates who have qualified in IBPS
should apply, not only for the salary and perks but also for the fact that
there is no Bond for minimum service in SBI, while most of the other
banks are asking for a bond.
EMOLUMENTS:
PAY: 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
How to Crack SBI PO
in 2 Months
Syllabus and Pattern
of SBI PO Exam
SBI PO : Doubts
Clarified
SBI PO Notification
2014
SBI PO 2014-15
VACANCIES
Salary Structure of
Bank PO & Clerk
IBPS Selected
Candidates: Know
your colleagues
joining the same bank
as you
Allotted a Bank in
IBPS. What next?
Waiting List (Reserve
List) for IBPS PO III
and IBPS Clerk III
IBPS PO III: Final
Result Out
IBPS Clerk III: Final
Result
IBPS Clerk II: Fourth
Round of Allocations
IBPS PO II - Fourth
Round of Allocations
IMPORTANT POSTS ON
IBPS RESULTS
SBI Specialist Officer
Exam: Last Minute
Strategy
Download Admit Card
Notification
SBI SO VACANCIES 2014
IBPS SO Final Result
Out
Interview Call Letter
Written Test Result
IT Officer Syllabus
HR Syllabus
Apply Online
Specialist Officer 2014
Notification Out!
IBPS SPECIALIST OFFICER
2014
IBPS Clerk III Final
Result
IBPS Clerk III Interview
Capsule
Interview Schedule
Poll: IBPS Clerk III
Scores
Written Test Result
GK Power Capsule for
IBPS Clerk III
Insights from previous
year
Apply Online for IBPS
Clerk 3
IBPS Clerk III
Notification
IBPS CLERK III
CAREER POWER GHAZIABAD
CENTRE
SBI PO 2014 BATCHES
SBI PO Online Test Series@
Rs.445
SBI PO: Computer, Marketing,
GK (Online) @ Rs. 199
SBI PO Complete Online Course
@ Rs.599
SBI PO Online Course + Online
Test Series @ Rs.990
SSC CGL 2014 Online Test
Series @ Rs.500
SSC Online Material @ Rs.465
SSC CGL 2014 Correspondence
Course @ Rs. 2500
BANK PO Online Test Series @
Rs. 445
BANK PO Correspondence
Course @ Rs. 2500
IT Officer Professional
Knowledge Course (Online) @
Rs.199
IT Officer Book (Hard Copy) @
Rs. 299
IT Officer Test Series @ Rs.399
COURSES BY CAREER POWER
(HUGEDISCOUNT)
SBI PO Online Test Series by
Career Power
Share your success story with us
(ups and downs in your journey).
We will publish the same on
bankersadda. (Email us at
[email protected]
OUR ASSOCIATES
Latest on SSC Adda
Important Basic General
Questions
Latest on CTET Adda
English: Antonyms & Synonyms
Quiz
Poll: IBPS Clerk III Marks
Poll: IBPS PO III Marks
Dream Team - IBPS Clerk III
CAREER ADDA
4/15/2014 Bankers Adda: SBI: Salary Structure and Perks
http://www.bankersadda.com/2014/04/sbi-salary-and-perks.html 2/4
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
Note: The salary scales are under revision with effect from November
2012. It means, bank will pay higher salary than the present above
mentioned salary. Bankers have been waiting the salary revision and hope
it would be approved by next year. The pending hike in salary will be paid
as arrears since Nov. 2012.
Note: The candidates should not get confused by the amount of Salary
shown by SBI as Rs 69000/- as it includes the prerequisite of Leased
Accommodation to the extent of Rs 29000 in Mumbai. This is not cash
component but a facility to get a house in Mumbai if you are posted their.
Basically, the salary difference between SBI and other PS Banks is that of
4 increments i.e. Starting Basic Pay will be Rs 16900/- in SBI, whereas in
other PS Banks it is Rs145000/-. (Rs. 2400/- more as basic in SBI) The
difference becomes bigger as DA is payable on this basic pay. This also
works out to be about Rs2000/-. Thus, starting salary in SBI is about Rs
4400/- more than other PSU Banks.
Pay Scale: The starting basic pay of a Probationary Officer is Rs 16,900/-
(with 4 increments) in the scale of Rs 14500-600/7-18700-700/2-20100-
800/7-25700.
Pay scale is the range of salary from the starting basic to last basic in
that particular grade, for example the starting basic salary of a JMGS
Officer is Rs. 14500.00 and the last basic salary of a JMGS Officer is Rs.
25700.00. In SBI there is a provision of four additional increments for
Probationary Officers at the time of joining hence the starting basic salary
of a SBI Probationary Officer is Rs. 16900.00 (Rs. 14500 + four
increments i.e. Rs. 600 X 4 = Rs. 16900.00).
Dearness Allowance: Apart from the basic salary a Probationary Officer
is also eligible for Dearness Allowance or D.A. which is currently 80.25%
of basic salary hence one will also get Rs. 13562.25 as DA, apart from the
basic salary of Rs. 16900.00
Dearness allowance is being decided by the IBA from time to time, the
revision in DA is based on an index and the rate is being revised keeping
in mind current inflation rate and economic conditions. The Dearness
Allowance is being revised four times in a year or on a quarterly basis.
HRA and CCA: Apart from the Basic salary and Dearness Allowance a
Probationary Officer is also entitled for House Rent Allowance (HRA) and
City Compensatory Allowance (CCA). While the HRA ranges from 7.50%
to 15% of the basic salary depending upon the location of the posting.
CCA value also depends upon the place of posting of the Officer.

Perks and Allowances: In SBI there are also various perks such as
petrol allowance, newspaper allowance, entertainment allowance, servant
allowance etc. the lump sum rupee value for all such perks is in the range
of Rs. 6000.00 Rs. 8000.00 depending upon the place of posting.
Lease Rent Facility: Probationary Officers are also entitled for attractive
Lease Rent Facility. An Officer is entitled for Leased accommodation
ranging from Rs 8000.00 in C category Centers to Rs 29500.00 in
Mumbai Centre.
Lease rent facility is a facility provided by the bank in which the house
rent of the house of the Officer is directly paid by the bank to the landlord
within the entitlement of Officer.
Furniture and Fixtures: Probationary Officers are also entitled for
purchasing Furniture and Fixtures of Rs. 90000.00 for their home. The
bank also pays annual maintenance perks of Rs. 10000.00 for the
maintenance of Furniture purchased by the Probationary Officer.
Medical Facility: Medical facility in SBI is also very attractive. Medical
Aid for self is 100% and for the family is 75% it means that 100% of your
IBPS PO III Final
Result
Interview Capsule
IBPS PO III Scores
Cut-Off Marks in
Written
Written Test Result
Out
GK POwer Capsule for
IBPS PO III
Download IBPS PO III
Admit Card
Download Pre-Exam
Training Call Letter
60% Marks Criteria
Removed, Max Age to
apply 30 years
How to Fill Bank
Preferences in IBPS
PO III
Apply Online
IBPS PO III Notification
IBPS PO III
NICL AO Exam
Experience
NICL AO Exam
Cancelled. Re-exam in
Dec 2013
Last Date Extended
Doubts Clarified
Notification
NICL AO VACANCIES
(1434 POSTS)
RRB Scores
RRB Exam
Discussion
GK Capsule for RRB
Apply Online
Doubts Clarified - II
Doubts Clarified (IBPS
RRB Recruitment)
RRB's Notification Out
IBPS RRBS RECRUITMENT
Written Test Result
Share your exam
experience
Special GK Capsule
for Exam
Doubts Clarified
Detailed Notification
Exam Pattern
Fresh Vacancy
Announcement
RBI ASSISTANTS : 525
POSTS
Special GK Capsule
for Exam
Download Admit Card
for Written Test
Last date to apply
extended
Role of Insurance
Assistant
Doubts Clarified
Notification
2600 VACANCIES IN
GENERAL INSURANCE
COMPANIES
Special GK Updates
(March 2014)
Special GK Updates
(February 2014)
GK Special Updates
GK UPDATES CAPSULES
Join IBPS PO III Dream Team
State-wise poll of IBPS RRB II
Poll: How much did you
attempt in IBPS Clerk III?
Search
SEARCH YOUR TOPIC HERE
Enter your email address:
Subscribe
GET GK UPDATES, FRESH
VACANCY ALERTS ON EMAIL
WWW.CAREERADDA.CO.IN
IT OFFICER COURSEBY CAREER
POWER
CAREER POWER
WWW.CAREERADDA.CO.IN
Bank Power Mobile App
BANK POWER MOBILEAPP
IBPS Clerk III Classroom
Program
IBPS PO III Classroom
Program
Online Test Series (@Rs.945)
Bank PO Correspondence
Course
SSC Correspondence Course
Bank PO Classroom Program
SSC Classroom Program
JOIN A CAREER POWER PROGRAM
4/15/2014 Bankers Adda: SBI: Salary Structure and Perks
http://www.bankersadda.com/2014/04/sbi-salary-and-perks.html 3/4
Older Post Home
Subscribe to: Post Comments (Atom)
Labels: Banking, SBI PO 2014, SBI PO SALARY AND PERKS
medical bills will be reimbursed by the bank for you and 75% for your
family members, subject to the bank norms.
Provident Fund: The officers are required to make 10% of their basic pay
as contribution to Provident Fund and the Bank also makes matching
contribution to the Employees Provident Fund.
Concessional Loans to Bank Officers: Bank also provides concessional
interest rates for Housing/Car/Personal Loans.
Newspaper Reimbursement: A fixed monthly amount is paid towards
the cost of one newspaper.
Maid Allowance: A fixed monthly amount is paid toward the allowance of
the maid, which is generally Rs. 50/day.
Package or CTC of the Probationary Officer: Now-a-days term of
salary package or CTC has become a very popular term and everybody is
interested in knowing his or her salary package. As per the rough
estimates we can safely say that the salary package of a Probationary
Officer of SBI in a city like Mumbai is around Rs. 8 9 lakhs.
For those who are not aware of the salary package or CTC term we would
like to tell that a salary package or CTC (cost to the company) is the total
benefit one is drawing from the employer.
Salary Revision of Bank Employees: In the end we will also tell you
that the salary of Bank Employees will rise further as the salaries are due
for revision from November 2012. The salary of Bank employees are
revised after every 5 years.
(January 2014)
Special GK Updates
(December 2013)
Special GK Updates
(November 2013)
Special GK Updates
(October 2013)
Special GK Updates
(September 2013)
Special GK Updates
(August 2013)
Special GK Updates
(July 2013)
Special GK Updates
(June 2013)
Special GK Updates
(May 2013)
Special GK Updates
(April 2013)
Special GK Updates
(March 2013)
Special GK Updates
(February 2013)
Special GK Updates
(January 2013)
Special GK Updates
(December 2012)
Special GK Updates
(November 2012)
Special GK Updates
(October 2012)
Special GK Updates
(September 2012)
Special GK Updates
(August 2012)
Special GK Updates
(July 2012)
Second Round
Allotment
FInal Allocations, Cut-
Offs
Fill Your Bank
Preference
IBPS Clerk II:
Vacancies Notification
IBPS Clerk II: Interview
Result
Share your Interview
Experience
Common Interview
Schedule and Call
letter download
Score Card - IBPS
Clerk II
Results - CWE Clerk II
Feedback on IBPS
Clerk (22 & 23 Dec)
Feedback on IBPS
Clerk (15th & 16 Dec)
Best of Luck for IBPS
Clerk 2012: Last
Minute Tips
GK Power Capsule for
IBPS Clerk 2012
Current Affairs and GK
Updates for Nov
IBPS Clerk 2012 Call
Letter
IBPS Clerk Notification
Changes in Selection
Process
Important Dates
IBPS Recruitment
Guidelines
IBPS CLERK 2012
IBPS PO II: Second
Round of Allotment
IBPS PO 2: Revised
Allocation and Cut-offs
New Allocation by
March End
Final Allotment
IBPS PO 2012
Specialist Officer Batches
Chandu commented on Sbi
Salary And Perks: any idea
about ICICI salary for any one
Krithi commented on Postal
Assistant Sorting Assistant
2014: :) :)
Vivek Malviya commented on
Allotted Bank In Ibps What
Next_3: Bank verify document
after joining or they verify it
before joining or before sending
appointment
Raushan Singh commented on
Ssc Multitasking Result Out
2013: have they sent our
dossiers to d concerned dept.or
nt???
Shruti commented on Sbi Salary
And Perks: Yes, they will get to
know your marks, as they will
check your mark sheet.
Recent Comments Widget
RECENT COMMENTS
How To Crack SBI PO 2014
Exam in 2 Months?
DAILY GK UPDATE - 12th April
Postal Assistant/ Sorting
Assistant 2014 Schedule Out
DAILY GK UPDATE - 9th April
ICICI Bank PO Recruitment
SSC CGL 2013 - Admit Card
Download
D. I. Quiz For SBI - PO
Syllabus & Pattern of SBI PO
Exam 2014 !
DAILY GK UPDATE - 10 - 11th
April
Bank of Baroda PO Joining
Date Out
POPULAR POSTS
IBPS PO III: Final Result Out
(2352 comments)
Update on IBPS PO III and
IBPS Clerk III Results (832
comments)
Fourth List of IBPS PO II (377
comments)
IBPS Clerk III : Final Result
Out (318 comments)
Few More Days to go before
IBPS announces Results of
IBPS PO and IBPS Clerk (276
comments)
IBPS SO-III : FINAL RESULT
OUT (260 comments)
How To Crack SBI PO 2014
Exam in 2 Months? (255
comments)
IBPS Clerk II: Fourth Round of
Allocations (232 comments)
IBPS PO II: Fourth Round of
Allotment (226 comments)
Bank of Baroda PO Joining
Date Out (215 comments)
+Grab This
MOST COMMENTED
WHO SHOULD BEINDIA'S NEXT
PRIMEMINISTER?
4/15/2014 Bankers Adda: SBI: Salary Structure and Perks
http://www.bankersadda.com/2014/04/sbi-salary-and-perks.html 4/4
Cancelled
IBPS PO 2 - Final
Allotment
Register Bank
Preference
Preference List
(Sample)
Scores Analysis
Common Interview
Result
Preference Notification
List of Vacancies in
IBPS PO 2012
Discuss Interview
Experience
Common Interview
Schedule
Check Your Score
(IBPS PO 2012)
Cut-Off Marks
IBPS PO Results Out!
Important dates
Check your marks
Final Result
Written Test Result
Expected Cut-Offs and
Analyis
Post Exam Discussion
Last Minute Tips
(Exam Strategy)
SBI GK Power
Capsule
Descriptive Topics
Written Exam Call
Letter-Download
Apply Online (SBI PO)
Detail Notification
SBI PO 2013
Union Budget 2013-14
Economic Survey
2012-13
Rail Budget 2013-14
Category Certificate
Formats
Character Certificate
Format
Promotions in PSU
Banks
Sabbatical Leave
Policy for Women
Bond Enforcement in
PSU Banks
Economic Survey
2011-12
Important Marketing
Terms-SBI Clerk
Important Banking
Terms
IBPS BANK EXAMS -
IMPORTANT INFO
Rahul Gandhi
Narendra Modi
L K Advani
Sushma Swaraj
Nitish Kumar
Manmohan Singh
Vote Show results
Votes so far: 24531
Days left to vote: 1
CAREER POWER
47,306,480
TOTAL PAGEVIEWS
(c) Bankers Adda 2014. Powered by Blogger.