IBPS SO Salary 2024
IBPS SO Salary 2024 is stated here in detail…!!! If you are searching for IBPS SO salary in hand, allowances, pay scale after 7th CPC, benefits etc then keep reading this page till the end. In a very systematic way, the Specialist Officer’s salary is mentioned here for the candidates who are willing to understand it easily.
IBPS Specialist Officer Salary 2024:
The basic Salary of an IBPS Specialist Officer is Rs. 23,700 but after 7 years it hikes up to Rs. 30,560 with the increment of Rs. 980/-. After completing 2 years, employees get an increment up to Rs.32,850/- based on their experience & skills.
IBPS SO Salary 2024
IBPS Specialist Officer Growth
Those, who will be selected for this job profile, then a tremendous pay package along with additional non-monetary incentives, will be provided to you by the organization. From this article, you can check out the IBPS Specialist Officer Salary Structure After the implementation of the 7th CPC.
Based on performance, employees under Scale I can get promoted to Scale II. Here we have discussed everything you need to know about the IBPS SO Salary 2024. To grab more details about the IBPS Specialist Officer Salary and Promotion scheme, have a look at the below section of this page designed by the team of www.recruitmentinboxx.com.
IBPS SO Salary
IBPS Specialist Officer (SO) Posts
The Institute of Banking Personnel Selection conducts IBPS SO Recruitment for a total of 06 Scale-I posts. The IBPS SO Posts are listed below:
- IT Officer (Scale I)
- Agricultural Field Officer (Scale I)
- RajbhashaAdhikari (Scale I)
- Law Officer (Scale I)
- HR/ Personnel Officer (Scale I)
- Marketing Officer (Scale I)
IBPS SO Salary 2024: Check Grade-wise Salaries
The current IBPS SO Basic Pay is Rs. 23,700/-. You may refer to the table placed below to view scale-wise IBPS SO Salary 2024:
| Grade | IBPS SO Salary |
| Officer Scale I | Monthly Salary – Rs.36400/- Pay Scale – Rs. 23700-980/7-30560-1145/2-32850-1310/7-42020 |
| Officer Scale II | Monthly Salary – Rs.48800/- Pay Scale- Rs. 31705-1145/1-32850-1310/10-45950 |
| Officer Scale III | Monthly Salary – Rs.64600/- Pay Scale- Rs. 42020-1310/5-48570-1460/2-51490 |
IBPS Specialist Officer Salary: Allowances & Benefits
The IBPS SO Pay Scale includes different types of perks, such as DA, HRA, medical facilities, transport reimbursements, and so on. Newspaper and petrol reimbursement is also common. The salary is revised from time to time.
| Allowances | Value |
| Dearness Allowances (DA) | 36% of Basic Pay (Approx. Rs 8600/-) |
| House Rent Allowances (HRA) | 7% – 9% of Basic Pay (As per the place of posting of the candidate) |
| Special Allowances | 7.75 % of Basic + DA (It is the incentive or performance-based bonus given to each employee.) |
| City Compensatory Allowances (CCA) |
0% to 4% (As per the place of posting of the candidate) |
| Lease Allowance | In lieu of HRA, lease accommodation is optional and can be availed up to Rs. 29,500/- as per the place of posting |
| Provident Fund (PF) Contribution | Varies from Rs 3000/- to Rs 3500/- |
IBPS SO Agriculture Officer Salary
- Scale I Salary: Rs. 23700-42020/-
- In-hand Salary: Rs. 33000-35000/-
IBPS SO HR Salary
| Assets | IBPS Specialist Officer Salary |
| Basic Pay | 23700.00 |
| Special Allowance | 1836.75 |
| DA | 10163.63 |
| CCA | 870 |
| Transport Allowance | – |
| Total (without HRA) | 36570.38 |
| HRA | 2133.00 |
| Gross with HRA | 38703.38 |
| Medical Aid | 8000 |
| Entertainment | 500 |
| Newspaper | 300 |
| Petrol | 3000 |
| Telephone | 400 |
| Canteen Subsidy | 400 |
| Pension Contribution | 2500 |
| Gross Annual CTC | 5,57,640.52 |
IBPS SO Marketing Officer Salary
| Basic Pay | Annual Increment |
| Rs. 14,500 | 600 |
| Rs. 18,700 | 700 |
| Rs. 20,100 | 800 |
| Rs. 25,700 | – |
IBPS Specialist Officer Salary after 7th Pay Commission
After the enforcement of the 7th Pay Commission, the Salary for Specialist Officers is hiked by 40%. Have a look at the detailed IBPS Specialist Officer Salary Structure after the 7th CPC in the table below:
IBPS Specialist Officer Pay as per 7th CPC 2024:
| Assets | Metro Cities |
| Basic Pay | Rs.14500/- |
| Dearness Allowance | Rs.14485.5/- |
| CCA (3% to 4% Max. Rs540/-) | Rs.540/- |
| Total Salary Of IBPS SO (Excluding HRA) |
Rs.29525.5/- |
| HRA – 8.5% ; 7.5%; 6.5%* | Rs.1232.50/- |
| Total Salary (including HRA |
Rs.30758/- |
IBPS Specialist Officer CWE Salary 2024:
| Assets | (State Capital etc.) |
| Basic Pay | Rs.14500/- |
| Dearness Allowance | Rs.14485.5/- |
| CCA (3% to 4% Max. Rs540/-) | Rs.375/- |
| Total Salary Of IBPS SO (Excluding HRA) |
Rs.29360.5/- |
| HRA – 8.5% ; 7.5%; 6.5%* | Rs.1087.50/- |
| Total IBPS SO Salary (including HRA |
Rs.30448/- |
IBPS SO Salary in Hand 2024:
| Assets | (District Level and Rural Areas) |
| Basic Pay | Rs.14500/- |
| Dearness Allowance | Rs.14485.5/- |
| CCA (3% to 4% Max. Rs540/-) | —- |
| Total Salary Of IBPS SO (Excluding HRA) |
Rs.28985.5/- |
| HRA – 8.5% ; 7.5%; 6.5%* | Rs.942.50/- |
| Total IBPS SO Salary (including HRA |
Rs.29927.5 |
IBPS SO 2024 Participating Organizations:
In India, there are a total of 20 Public Sector Banks, which participate in the IBPS SO 2024. The names of those banks are tabulated below:
| Allahabad Bank | Andhra Bank |
| Bank of Baroda | Bank of India |
| Bank of Maharashtra | Central Bank of India |
| Canara Bank | Corporation Bank |
| Dena Bank | IDBI Bank |
| Indian Overseas Bank | Oriental Bank of Commerce |
| Punjab National Bank | Punjab & Sind Bank |
| Syndicate Bank | UCO Bank |
| Union Bank of India | United Bank of India |
| Vijaya Bank | Indian Bank |
Check After Revision: Bank Salary Structure
IBPS SO Benefits and Perks
Specialist Officers under the Institute of Banking Personnel Selection are also admissible for various benefits and perks such as Dearness Allowances, House Rent Allowances, Travelling Allowances, Medical Benefits, Bonus and Provident Funds etc. IBPS SO Salary And Perks Details are provided here.
Basic Pay:
- This is the amount of IBPS SO Officer Salary offered to bank employees excluding any extra payments like allowances and bonuses.
- For bank SO, it is INR 23700, with effect from June 01, 2015.
Dearness Allowances:
- All government employees are paid the cost of living adjustment which is Dearness Allowances. Specialist Officers under the Institute of Banking Personnel Selection are also given Dearness Allowances based on their Salary After 7th Pay Commission.
- For bank specialist officers, it is INR 8605.88.
House Rent Allowances:
- House Rent Allowances are given to the employees to pay their accommodation rent. Basically, it is included in the Salary of employees but those, who have their own houses, can’t claim HRA.
- Bank has permitted 9% or 8% or 7% HRA, based on the place of the position of an employee.
Travelling Allowances:
Travelling Allowances are given to the employees for office purposes. Employees are paid travelling charges from home to office. Also if employees are going from office work, he/ she will be paid Travelling Allowances.
Medical Benefits:
Specialist Officers are also given Medical Allowances. Employees are paid medical expenses per month as well as Medical and Health Insurance.
CCA (City Compensatory Allowance):
- City Compensatory Allowance is a fully taxable component of remuneration offered to employees for working in big metropolitan cities/
- This is a fixed amount rather than calculated on the basic salary.
- CCA for bank SO is generally 4%, 3% or 0%, based on place of position.
Special Allowances:
- Special allowances are offered to only Scale-1 officers (7.75%).
- Scale-2 is exempted from this advantage.
Bonus:
Bonuses are given to employees on some occasions or according to their performance. Any employee can’t claim for Bonus.
Provident Funds:
- Provident Funds are like Provident Funds. This is an equal amount collected by employee and employer per month.
- This equal amount of money is collected in the Provident Funds of employees.
- Officers can get the money when he/ she leave the bank and continue this account in another Organization.
Bank employees are also given other benefits apart from the ones mentioned above. Employees are given less interest on loans, house loans, and easy loan approval.
IBPS Specialist Officer Salary 2024:
Every year, the authorities of the Institute of Banking Personnel Selection issue many recruitment notifications in order to recruit eligible candidates for various vacant posts and a large number of candidates apply for these posts.
Do you know the main reason why everyone has a dream to get jobs in the banking sector? The main cause that candidates want to get recruited in the banking sector is the salary provided by Banks is attractive and satisfying.
Along with the basic salary candidates also get further benefits as we have mentioned above. the amount of pay and perks are decided by the government norms. The starting salary of an IBPS Specialist Officer is around INR 30,500 in rural cities.
Final Note:
All details about IBPS Specialist Officer Salary 2024 are placed on this page. Keep visiting our portal www.recruitmentinboxx.com for receiving more updates concerning IBPS SO Salary 2024 and the latest banking recruitment notifications etc.
You May Also Like To Check This Section
| IBPS SO Notification | IBPS Study Material |
| IBPS Specialist Officer Recruitment | IBPS Specialist Officer Question Paper |