How is the work-life of IBPS SO in terms of the job profile and salary?

The role of a Specialist Officer (SO) is an entry-level position in the Indian banking sector and is apt for aspiring banking professionals. For SO cadres, banks invite candidates with specialized qualifications and relevant experience to work in Agriculture, IT, HR/ Personnel, Law, Marketing, and the Rajbhasha departments.

A common recruitment process is conducted every year by the Institute of Banking Personnel Selection or IBPS to screen and shortlist candidates for the SO roles. The selection process includes an employment test split into preliminary and main rounds, followed by a personal interview.

IBPS SO demands focused and extensive preparation. Let’s check out the work-life along with the salary structure of IBPS SO. You can smartly scale up your prospects to score well in the said tests with online resources and mock tests from BYJU’S Exam Prep.

The specialised roles of IBPS SO

Apply for the IBPS SO roles based on your qualification and interests. The job profile of each of these specialist roles is briefed here:

  • An Agricultural Field Officer is responsible for the rural projects managed by the bank. Coordination with development organisations like NABARD also comes under the purview of the role.
  • The IT Officer is the caretaker of online banking portals and core banking systems. Besides, being vigilant of cybercrime and resolving technical issues are the other responsibilities of an IT Specialist Officer.
  • The Law Officer takes care of all legal aspects of the bank and provides solutions for legal tangles that may arise from time to time.
  • A Marketing Officer handles all sales and marketing-related activities of the bank.
  • An HR/ Personnel Officer shoulders the responsibility of managing the people force of the organisation, including performance evaluation and coordinating employee welfare initiatives.
  • The Rajbhasha Adhikari is responsible for promoting the official languages in all banking processes.

How much would you earn as an IBPS SO?

Your basic pay as an SO will be INR 23700, and the gross salary in the range of INR 46000 to INR 48000. Post deductions, you can expect to receive approximately INR 42000 to INR 44000 in hand.

The monetary allowances that are part of the compensation package of an IBPS SO are tabulated below-

Allowances Values
Dearness Allowance INR 8605.88 (36% of Basic Salary)
Special Allowance 7.75% of (Basic+DA)
House Rent Allowance (HRA) 7% – 9%
City Compensatory Allowance (CCA) 0%-4%
PF Contribution INR 3000 – INR 3500

please note that HRA and CCA are location-dependent and varies from Tier I to Tier III cities.

Career progression for an IBPS SO

The growth prospects of an SO are immense if you are open to shifting from the specialised role to general banking roles. You have the option of rising in the hierarchy through internal promotions or examinations. Your career progression path starting from IBPS SO can be charted thus:

  • JMG Scale-I: Specialist Officer
  • MMG Scale-II: Manager
  • MMG Scale-III: Senior Manager
  • SMG Scale-IV: Chief Manager
  • SMG Scale-V: Assistant General Manager
  • TMG Scale-VI: Deputy General Manager
  • TMG Scale-VII: General Manager

Work-life realities of an IBPS SO

Specialist Officers work within the boundary of specific departments, and hence the workload hardly ever tips over, resulting in minimal work-related stress. Despite a limited workload, the basic pay of an SO is equivalent to other entry-level banking cadres. So, if you have specialised knowledge and prefer a low-stress job, then you should give a chance to IBPS SO recruitment.

Jobs in the banking sector are known to be transferable. However, in the role of an SO, your chance of getting transferred is limited. This is because most of the requirements of specialised positions are in the head or zonal offices located in urban centres, making life convenient with easy access to modern amenities. However, Agriculture Field Officers have to operate in rural and semi-rural areas, owing to the nature of the projects they handle.

Prep well to land the role of an IBPS SO

The combined package of a well-paying, secure job that is not too demanding makes IBPS SO a lucrative proposition. Thus, you may now have a clear idea of the work-life of the IBPS Specialist Officer and its salary structure.

Leave a Reply

Back to top button