State Bank of India, SBI has released the notification for recruitment of Probationary Officers in the bank. As many as 2000 posts have been notified under the SBI PO Recruitment 2019. The online application forms are now available on sbi.co.in/careers. Here are some of the Frequently Asked Questions like What is the salary structure of SBI PO today, How much salary do you get in hand, how different is it from IBPS PO salary and others are provided below.
What is the salary of an SBI PO Officer?
SBI PO Salary structure started with a basic pay of Rs. 27, 620 in the pay scale of 23700-980/7-30560-1145/2-32850-1310/7-42020. This is as applicable for Junior Management Grade Scale I. Apart from this, the candidates are also eligible for D.A, H.R.A/ Lease rental, C.C.A, Medical and other allowances & perquisites as per rules in force from time to time. Overall this translated to a CTC or Cost to the Company of Rs. 8.20 lakhs minimum and maximum of 13.08 lacs. This varies as per the location allocated to the candidate. Urban locations of Tier I cities have higher DA as compared to Tier II cities.
What is the in-hand salary for SBI PO?
With a CTC of 8.4 lakhs, the monthly emoluments convert to Rs. 70,000 per month. However, not all is cash or in hand component. The salary package includes lease rental which varies from city to city. For Mumbai, for instance, it is at Rs. 29, 500 per month. This is paid for by the bank. Also, there is a 10% PF deduction and an equal amount of deduction for Pension Fund. With all the deductions, an employee gets about Rs. 45,000 – Rs. 54,000 per month salary.
SBI now also offers a SMART Compensation Package. This allows the employee to monetize of the specific elements of the package, which further enhances the take home. This is, however, subject to approvals.
What is the difference in salary of an SBI PO and an IBPS PO?
The difference is essentially of approximately Rs. 4000 in the basic pay. The basic pay for SBI PO is 27,620 while that for IBPS PO is 23,700. This however translates to other variations in the salary that is dependent on the basic pay like DA. Rough estimates make the in hand salary for IBPS PO at about Rs. 37,500 or 38, 700 per month. This is about Rs. 45,000 for SBI PO.
What is the selection criterion for SBI PO Exam?
SBI PO Recruitment is a three step process – Preliminary Examination, Main Examination and Group Interview.
The preliminary examination is a 1 hour Objective Test of 100 marks conducted n CBT mode. It has three sections – English Language (30 marks, 20 minutes), Quantitative Aptitude (35 marks 20 minutes) and Reasoning Ability (35 marks, 20 minutes). Candidates who qualify the Preliminary examination are then required to appear for the main examination. A category wise merit list is created. There is no sectional cut off now for SBI PO. 10 times the vacancy notified are shortlisted for the main examination.
Main Examination consists of an Objective Test of 200 marks and a Descriptive Test of 50 marks. The examination is online and administered consecutively. Objective test is of 3 hours and consists of 4 sections – Reasoning & Computer Aptitude (45 questions of 60 marks to be attempted in 60 minutes), Data Analysis & Interpretation (35 questions of 60 marks to be completed in 45 minutes), General/ Economy/ Banking Awareness (40 questions, 40 marks in 35 minutes) and English Language (35 questions, 40 marks in 40 minutes). After the completion of the objective paper, candidates get 30 minutes to attempt a letter writing and essay question of 50 marks.
Basis the performance in the main examination, candidates are then shortlisted for Group Exercise & Interview. For final selection, the marks obtained in the Main Exam and Group Exerciser are computed. Preliminary Examination is only a qualifier round. Merit list of shortlisted candidates is released by the bank on the official website.
What is easier to crack – SBI PO Exam or IBPS PO Exam?
SBI PO examinations are known to be tougher than the IBPS PO examinations. The primary reason, however, is the number of vacancies notified. Also, there is different cut off for various regions for IBPS PO. However, the cut off for SBI PO is common for all, making it tougher to crack. Experts however counter that the difficulty level is similar but the competition is higher for SBI PO in comparison to IBPS PO examinations.