Bank Manager Salary: Manager & Deputy Manager Salary for SBI, IBPS

Bank Manager Salary – SBI Manager & Deputy Manager Salary | IBPS PO Manager Salary Details 

Bank Manager Salary: Bank exams are the most awaited recruitment notification for a huge number of aspirants in India. Likewise, a lot of vacancies were announced to recruit eligible candidates for various public sector banks including the State Bank of India. There is always a craze for bank examinations among the aspirants. This is because of a prestigious profession, a handful of salaries, consistent increment, and career growth. Due to that, the competitive level of bank exams goes on higher. So candidates have to perform well to get success in their career.

The Bank Manager Salary and Bank Clerk Salary hikes were implemented every year based on performance, sincerity, dedication, etc. In this article, we will see the Bank Manager Salary, Deputy Manager Salary for SBI, and IBPS PO. As per the update released in October 2019, on the Wage Settlement of the Bank employees. The part wage arrear is like a Diwali bonanza for the employees of public sector banks as there is a 12% wage revision amounting to a sum of close to Rs. 50,000/- to Rs.1,00,000/-. Ok, let’s have a look at this article to know more about the Bank Manager Salary in India, SBI Bank Manager Salary & SBI Deputy Manager Salary.

Bank Manager Salary Range:

  • A Bank Manager Salary is based on good leadership and communication skills can earn up to 7 lakh per annum
  • Those who have experience of more than 5 years can get an average bank manager salary is of INR 9 -10 lakh per annum

Profile Starting Salary per annum (in INR) Mid Level Salary per annum (in INR) Senior Level Salary per annum (INR)
Bank Manager 3,50,000 7,84,000 10,00,000

Bank Manager Salary:

A probation officer (PO) is an Assistant Manager of Scale I in the bank.

The Bank Manager Salary in India varies for various posts like

  1. SBI Bank Manager Salary
  2. SBI SO Salary
  3. SBI CBO Salary
  4. IBPS PO Salary
  5. IBPS RRB PO Salary
  6. IBPS SO Salary
  7. Bank of Maharashtra Generalist Officers Salary
  8. South Indian Bank PO Salary
  9. Nainital Bank PO Salary
  10. TSCAB Assistant Manager Salary
  11. Vikas Bank PO Salary

Bank Manager Salary: SBI Manager Salary

State Bank of India is a leading public sector bank in India that provides notable salaries, allowances, and career growth for their employee. Compared to other Bank Manager Salaries, SBI provides a little bit higher. So that a lot of candidates have an intended passion for getting a job in the SBI. The post of Probationary Officer is one of the demanding and desirable jobs in India. SBI Careers has released the recruitment notification for various levels of posts.

SBI Manager Salary: Basic Pay of Probationary Officer(PO)

Currently, the basic SBI PO Salary in India is around Rs.27,620/-

SBI Manager Salary in India after 11th Barpatite Settlement for PO

The SBI Manager Salary for PO in India has been drafted after the 11th Barpatite Settlement. The SBI PO Salary structure is given below for your reference.

SBI Manager Salary structure in India for PO:

Rs 27,620/- (Increment in 4 stages)

1st Increment – Rs. 23,700 – 980/7

2nd Increment – Rs. 30,560 – 1,145/2

3rd Increment – Rs. 32,850 – 1,310/7

4th Increment – Rs. 42,020/-

SBI PO In-Hand Salary:

The in-hand SBI PO salary is approximately Rs 40,000/- to Rs.45,000/-. This Bank Manager salary of SBI PO may differ for employees working at different job locations.

SBI Manager Salary Allowances for PO:

Dearness Allowance 46.9% of the basic pay
City Compensatory Allowance(CCA) 3% or 4%(depending on the place of posting)
House Rent Accommodation (i) Minimum- Rs 8,000/-(Rural areas)

(ii) Maximum- Rs 29,500/-(Urban Areas)

Medical Insurance (i) 100% for employees

(ii) 75% for families

Furniture Allowance Rs 1,20,000/-
Travelling Allowance Reimbursement for AC-2 Tier (Exclusively for official travels)
Petrol Rs 1,100 – Rs 1,300
Miscellaneous Rs 4000/-
Total Compensation(Annually) 7.5 lakhs to 12.9 lakhs
Loan Benefits Employees get Concession on interest rates

 

Bank Manager Salary for SBI PO

SBI Deputy Manager Salary:

Scale-1 branches meaning that a Scale-1 officer( PO after confirmation becomes a Scale 1 officer) can be the branch manager of that branch. Similarly, we have Scale-2, Scale-3, Scale-4, etc branches depending on the total business of the branch.

SBI Deputy Manager Salary varies from place to place concerning the area where one is posted. The basic pay comes round to about Rs. 36,000/-, on which there is DA, HRA, Transport allowance, etc. which makes the gross monthly pay around Rs. 62,000/- making annual CTC of approximately Rs. 7.4 lac. in an urban area gross monthly pay goes up to Rs. 80,000/-

SBI Branch Manager Salary:

Now, a Scale – 2 officer might be the branch officer of a branch whereas a Scale-3 or a Scale-4 officer if posted in a large AGM i.e Scale-5 branch, is not the branch manager. Deputy Manager (Scale 2 officer), if assigned the role of a Branch Manager, would have a basic pay of around Rs. 35,000 plus DA, HRA, CCA, etc., A Deputy General Manager (DGM) usually draws a basic pay of around Rs. 70,000 plus DA, HRA, CCA, etc,

SBI Manager Salary for Specialist Officers(SO):

Grade scale Scale of Pay
Junior Management Grade Scale I (JMGS I) 23700-980/7-30560-1145/2-32850-1310/7-42020
Middle Management Grade Scale-II (MMGS II) 31705-1145/1-32850-1310/10-45950
Middle Management Grade Scale III (MMGS III) 42020-1310/5-48570-1460/2-51490
Senior Management Grade Scale IV (SMGS-IV) 50030-1460/4-55870-1650/2-59170

Bank Manager Salary for SBI CBO:

  • SBI CBO Pay Scale – 36000-1490/7-46430-1740/2- 49910-1990/7-63840.
  • SBI CBO In-Hand Salary Revised – Rs. 50,000 to 52,000.
Components Amount in Rupees
Pay Scale 36000-1490/7-46430-1740/2- 49910-1990/7-63840
Basic Pay Rs. 36,000
Dearness Allowance (DA) Rs. 16,884
House Rent Allowance (HRA) Rs. 2520
City Compensatory Allowances (CCA) Rs. 1080
Other Allowances Rs. 2000
SBI CBO Gross Salary Rs. 58,484
Deduction Rs. 8187.6
Net Salary Rs. 50,296.24

Bank Manager Salary for IBPS RRB PO:

This is the assistant manager grade for the regional rural banks for each state. The selection has been conducted for the category of officer scale 1. Let’s have a look at this

IBPS RRB PO Payscale

The Pay-scale for IBPS RRB PO or Officer Scale 1 is 14500-600/7-18700-700/2-20100-800/7-25700.

IBPS RRB PO In-Hand Salary:

The IBPS RRB PO or Officer scale I at present varies from Rs.29,000 to 33,000 at 100% D.A.

Bank Manager Salary Allowances for RRB PO:

Dearness Allowance 46.5% of the basic pay.
House Rent Allowance
  • For Rural Areas: 5% of the basic pay
  • For Semi-urban Areas: 7.5% of the basic pay
  • For Urban Areas: 10% of the basic pay special
Special Allowances 7.75% of the basic pay.

Bank Manager Salary for IBPS PO:

The Basic Pay of Bank Manager Salary of IBPS PO is about RS. 23,700/-

  • Salary after 1st Increment – Rs. 30,560/-
  • Salary after 2nd Increment – Rs. 32,850/-
  • Salary after 3rd Increment – Rs. 42,020/-

Bank Manager Salary for IBPS PO After the 10th Bipartite settlement:

The revised basic IBPS PO salary structure is 23700 – (980 x 7) – 30560 – (1145 x 2) – 32850 – (1310 x 7) – 42020.

It means Basic Salary of IBPS PO after 7 Years – Rs 30,560, Basic Salary after 7 + 2 Years – Rs 32,850, and Basic Salary after 7 + 2 + 7 Years – Rs 42,020

Bank Manager Salary Allowances for IBPS PO:

Special Allowance 7.75% of the basic pay Rs. 1,836.75
Dearness Allowance 39.8% of the Basic Pay Rs. 10,163.63
CCA 3% or 4%(depending on the place of posting) Rs. 870
Total pay (without HRA)   Rs. 36,570.38
House Rent Allowance 7%-9% of the basic pay Rs. 2,133.00
Gross salary with HRA   Rs. 38,703.38

Bank Manager Salary for IBPS SO (Specialist Officer):

Grade IBPS SO Salary
Officer Scale – I Monthly Gross salary – Rs. 36,400/-
Pay Scale – Rs. 23700-980/7-30560-1145/2-32850-1310/7-42020
Officer Scale-II Monthly Gross salary – Rs. 48,800/-
Pay Scale – Rs. 31705-1145/1-32850-1310/10-45950
Officer Scale – III Monthly Gross salary – Rs. 64,600/-
Pay Scale – Rs. 42020-1310/5-48570-1460/2-51490

Bank of Maharashtra Generalist Officer Salary:

Components Generalist Officer – Scale-2 Generalist Officer – Scale-3
Basic Pay Rs. 48170 Rs. 63840
Grade Pay Rs. 1740 Rs. 1990
Gross Salary Rs. 70,000 – 75,000/- Rs. 78,000 – 84,000/-
In-Hand Rs. 62,000 – 67,000/- Rs. 72,000 – 77,000/-

Bank Manager Salary for Nainital Bank PO:

Payscale Rs 25,000 (for the 1st Year)
Total Annual Salary The Annual CTC would be 3.60 lakhs per year
Net Pay (After the Probation Period) Rs. 36,000/-

Bank Manage Salary for South Indian Bank PO:

  • IBA approved pay scale of Rs. 36,000 – 1,490/7 – 46,430 – 1,740/2 – 49,910 – 1,990/7 – 63,840.

TSCAB Assistant Manager Salary Details:

  • TSCAB Assistant Manager Salary Pay is Rs. 26080-1230/2-28540-1490/12-46420-1740/2-49900-1990/4-57860 (21 stages) + 3 Stagnation increments at the rate of Rs.1990/- each biannually after reaching maximum in the scale each biannually after reaching maximum in the scale.
  • The TSCAB Assistant Manager Salary In-Hand Ranges from Approximately Rs. 48,000 to 50,000 per month.
  • The TSCAB Assistant Manager Salary Per Annum lies in the range of 5.7 to 6 lakhs.

Bank Manager Salary for Vikas Bank PO:

Basic Rs. 23,700
DA Rs. 14,385
HRA Rs. 1,659
Special Allowance Rs. 2,951
Gross Salary 42,696.56