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 salary, 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 on a yearly basis based on the 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 the 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

ProfileStarting Salary per annum (in INR)Mid Level Salary per annum (in INR)Senior Level Salary per annum (INR)
Bank Manager3,50,0007,84,00010,00,000

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. IBPS PO Salary
  4. IBPS RRB PO Salary
  5. IBPS SO Salary

Bank Manager Salary: SBI Manager Salary

State Bank of India is a leading public sector bank in India that provides a notable salary, allowances, and career growth for their employee. Compared to other Bank Manager Salary, 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 Allowance46.9% of the basic pay
City Compensatory Allowance(CCA)3% or 4%(depending on the place of posting)
House Rent Accommodation
  • Minimum- Rs 8,000/-(Rural areas)
  • Maximum- Rs 29,500/-(Urban Areas)
Medical Insurance
  • 100% for employees
  • 75% for families
Furniture AllowanceRs 1,20,000/-
Travelling AllowanceReimbursement for AC-2 Tier (Exclusively for official travels)
PetrolRs 1,100 – Rs 1,300
MiscellaneousRs 4000/-
Total Compensation(Annually)7.5 lakhs to 12.9 lakhs
Loan BenefitsEmployees 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 with respect to 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, it is entirely possible that a Scale – 2 officers might be the branch manager 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):

GradeScale 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 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 Allowance46.5% 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 Allowances7.75% 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 Allowance7.75% of the basic payRs. 1,836.75
Dearness Allowance39.8% of the Basic PayRs. 10,163.63
CCA3% or 4%(depending on the place of posting)Rs. 870
Total pay (without HRA) Rs. 36,570.38
House Rent Allowance7%-9% of the basic payRs. 2,133.00
Gross salary with HRA Rs. 38,703.38

 

Bank Manager Salary for IBPS SO (Specialist Officer):

GradeIBPS SO Salary
Officer Scale – IMonthly Gross salary – Rs. 36,400/-
Pay Scale – Rs. 23700-980/7-30560-1145/2-32850-1310/7-42020
Officer Scale-IIMonthly Gross salary – Rs. 48,800/-
Pay Scale – Rs. 31705-1145/1-32850-1310/10-45950
Officer Scale – IIIMonthly Gross salary – Rs. 64,600/-
Pay Scale – Rs. 42020-1310/5-48570-1460/2-51490