• Written By Pritam G
  • Last Modified 23-08-2022

IBPS SO Salary 2022: Allowances, Benefits & Perks

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IBPS SO Salary Structure 2022: The Institute of Banking Personnel Selection has released the IBPS SO Salary along with the official notification. Candidates can check the salary structure from the official website. IBPS offers a decent pay scale to Specialist Officers on a monthly basis. There are six different posts under the IBPS SO Recruitment: IT Officer, Agricultural Field Officer, Rajbhasha Adhikari, Law Officer, HR / Personnel Officer, and Marketing Officer.

Aspirants who want to appear for the IBPS SO exam must know the salary structure, including in-hand and gross CTC. An IBPS Scale 1 Specialist Officer gets a basic pay of Rs. 23,700/-. Along with the basic pay, candidates also get allowances and benefits. Read on to find out more about the IBPS SO Salary Structure 2022. Check details on IBPS SO in-hand salary, job profile, allowances, benefits, and more.

IBPS SO Salary 2022: Overview

Candidates must check the IBPS SO 2022 overview before proceeding further for other relevant details on IBPS SO Salary Structure.

Name of the ExamIBPS Specialist Officer Recruitment
Conducting BodyInstitute of Banking Personnel Selection
Frequency of ConductionOnce a Year
Vacancies1828
Mode of ApplicationOnline
Mode of Fee PaymentOnline
Mode of Exam ConductionComputer-Based Mode (CBT)
Official Websiteibps.in

IBPS Specialist Officer (SO) Posts

The conducting body offers six posts under the IBPS SO Recruitment. These posts are on Scale I as per the Institute of Banking Personnel Selection. Candidates must check the posts’ names before getting into the salary structure details.

  1. IT Officer (Scale I)
  2. Agricultural Field Officer (Scale I)
  3. Rajbhasha Adhikari (Scale I)
  4. Law Officer (Scale I)
  5. HR/ Personnel Officer (Scale I)
  6. Marketing Officer (Scale I)

IBPS SO Pay Scale

The IBPS SO Pay Scale is nearly similar for the different posts. We have provided the pay scale as per the previous year’s statistics. The IBPS SO Salary Structure will be updated as soon as the conducting body releases it on its official website. Check the IBPS SO Scale 1 pay scale from the table given below:

Basic PayRs 23,700/-
Pay Scale23700-980(7)-30560-1145(2)-32850-1310(7)-42020

As per the IBPS SO pay scale, the basic pay of candidates is Rs. 23700/-. An annual increment of Rs. 980/- will be given for seven years. At the end of seven years from the date of joining, the basic pay will then be Rs. 30560/-. Thereafter, a yearly increment of Rs. 1145/- will continue for the next two years. The basic pay after 9 years from joining will be Rs. 32850/-. Furthermore, the yearly increment of Rs. 1310/- will continue for the next seven years, and the final basic pay for the post will be Rs. 42020/-.

IBPS SO Allowances & Benefits

Apart from the basic pay, candidates will also be eligible for various allowances and perks. Check IBPS SO allowances and benefits below:

AllowancesValue
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 Allowances7.75 % 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 AllowanceIn lieu of HRA, lease accommodation is optional and can be availed up to Rs29,500/ as per the place of posting
Provident Fund (PF) ContributionIt varies between Rs 3000/- to Rs 3500/-

Some benefits of working as a Specialist Officer along with this great IBPS SO salary are:

  1. Job security – no risk of losing the job
  2. Fewer transfers compared to general bankers
  3. Same promotions as general bankers
  4. Other allowances such as Newspaper allowance, Medical allowance, Entertainment allowance, House and Furniture allowance, etc.

IBPS SO In-Hand Pay

Considering the basic pay and the allowances, the gross salary of IBPS SO is around Rs 38000/-. However, after deductions, the total in-hand IBPS SO salary comes around:

  1. Rs. 35758/- for Metro Cities
  2. Rs. 33448/- for State Capitals
  3. Rs. 30927/- for District Level and Rural Area

IBPS SO Job Profiles

Now that you know the IBPS SO salary, let’s look into the roles and responsibilities of the different posts under IBPS Specialist Officers:

IBPS SO PostsRoles and Responsibilities
IT Officer (Scale I)– Provide data maintenance and support
– Maintenance of computer systems – software. Hardware, network security, etc.
– Resolve queries related to ATM, Internet and mobile banking
Agricultural Field Officer (Scale I)– Understand the banking and financial needs of people
– Provide the latest information about various government schemes and benefit plans
Rajbhasha Adhikari (Scale I)– Translate and proofread banking documents
– Conducting language-related workshops
– Promote and train employees in the local language
Law Officer (Scale I)– Provide legal assistance to the bank
– Prepare legal documents necessary for various banking processes
– Monitor errors and authenticity of the banking system.
HR/Personnel Officer (Scale I)Conducting the process of recruitment.
Maintenance of employee database.
Performance and evaluation of employees.
Designing welfare schemes, promotion, and compensation of employees
Marketing Officer (Scale I)– Promote the bank and its business
– Formulate policies
– Handle different aspects of marketing
– Increase profit through cost-effective methods

IBPS SO Promotion & Career Growth

The banks conduct training sessions, workshops, and assessments to develop the skills of employees. Internal Interviews and promotional exams will be conducted on regular basis to provide better career prospects to its employees. Check the IBPS SO promotional hierarchy from below.

PositionScale
Officer / Assistant ManagerScale 1
ManagerScale 2
Senior ManagerScale 3
Chief ManagerScale 4
Assistant General ManagerScale 5
Deputy General ManagerScale 6
General ManagerScale 7

FAQs on IBPS SO Salary Structure

Check the frequently asked questions on IBPS SO Salary 2022 below:

Q. What is the basic pay of an IBPS Specialist Officer?
A. The basic pay for IBPS SO Posts is Rs 23,700/-.
Q. Which are the post in IBPS SO exam?
A. There are a total of six posts for which the IBPS SO exam is conducted. IT Officer, Agricultural Field Officer, Rajbhasha Adhikari, Law Officer, HR/Personnel Officer and Marketing Officer are the six different posts.
Q. Which among IBPS SO and SBI SO is better?
A. Both IBPS SO and SBI SO have a similar job profile. However, the salary offered will vary.
Q. Is there any interview for IBPS SO exams?
A. Yes, candidates qualifying in the IBPS Mains exam, will be called for the interview.
Q. What are the allowances under IBSO SO Pay Scale?
A. Along with the basic pay, candidates will get allowances such as Dearness Allowances (DA), House Rent Allowances (HRA), Special Allowances, etc.

We have now provided you with all the relevant details on IBPS SO Salary. As the exams are coming up, concentrate on your IBPS SO preparation. Have the knowledge of IBPS SO Syllabus & IBPS SO Exam Pattern and plan out your studies. You can take free IBPS PO Mock Tests at Embibe as the syllabus for IBPS SO is similar to that of the IBPS PO exam.

We hope this detailed information about IBPS SO salary structure, allowances and benefits help you. Embibe wishes all the very best to the aspirants. For any queries, leave a comment below, and we will get back to you.

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