1) Job profile

The job profile remains calm and mostly involves:

  1. Official paperwork,
  2. Handling and managing accounts,
  3. Meeting customer demands.

2) The job of a probationary officer

IBPS trains individuals in various fields of banking. One of them is probationary officer, a post regularly advertised for. It is for those professionals who are new to banking services and don’t seem to know their work well. The institute trains professionals about their work and gives them a proper notion of how to carry out those works skillfully for best outputs.

3) The job profile of Probationary officers

Probationary officers are those, who are actually designated as assistant managers. They join as probationary officers for a preliminary period of two years where they are actually trained to carry out their work efficiently. The proper tools of trade including various fields of banking and customer services are taught in this period.

  1. Customer service Customer service is an integral part of banking as all banks rely upon their customers for their business. IBPS trains them in handling customers, keeping them satisfied and to bring in the crowd for the bank.
  2. Bringing new Business Bringing new business is a highly demanded requirement by the banking professionals. It includes promotion and selling of various services of banks to its customers. This requires professionals to travel distances and employ sales/marketing services and executives separately.
  3. Meeting deadlines and targets Professionals are required to complete their tasks beyond deadlines and targets as each month passes.
  4. Handling cash Handling cash is one of the major tools required for professionals which includes handling manned cash counters by cashiers and clerks. In case of overcrowding, professionals might be asked to handle other counters and manage cash profoundly. Payment clearances of various professions are generally transferred via banks nowadays as it is considered safe and convenient to transfer their monthly income. Many MNC’s and professionals working in government sectors are paid by means of various banks.
  5. Report verification Report verification comes with the introduction of core banking services. All the bank income must be calculated day by day to avoid any miscalculations.
  6. Official communications Official communications include regular checking of emails, to keep track of the numerous new bank policies and handling them. The professionals can be asked for replying to other branches or services of bank too, thus the professionals must be well versed with the languages and format of a future branch manager. Thus it can be quoted that the probationary officer has no actual job description and needs to be the jack of all trades related to the banking industry.

4) Pay scale

The following scale represents the initial basic pay and the increments that follow.

  1. As per the first term of the pay scale Rs.14, 500/- is the initial basic pay.
  2. The second term in the pay scale showcases that a PO can get up to 7 increments worth Rs.600/- each.
  3. The third term in the pay scale states, once a PO has got all the 7 increments, he can get up to 2 increments worth Rs.700/- rupees.
  4. Similarly, the fourth term in the pay scale will mean that a Probationary Officer can get 7 more increments worth Rs.800/- each after a PO has got both the increments stated in third term of pay scale.
  5. The last term showcases the maximum basic pay after receiving all these increments. The salaries mentioned are however, not fixed and are tangible depending upon the awarding policies of various banks, performance of the officer or the will of the bank upon awarding its staffs with perks or bonuses on occasion like completing targets way before deadlines or enhanced customer support etc.

5) Perks of the job

If one thinks that salary is too low to live a lavish lifestyle, then he must never underestimate the additional perks offered with the same.

  1. Dearness allowance It depends upon the prices in the market. Being directly proportional to the market price, it has been observed to come down very rarely and shows an average of 10% increase every year.
  2. House rent allowance It varies from six percent to fifteen percent depending upon the cost and area of living where the officer is currently posted. Varying from urban to rural areas, it greatly boosts the lifestyle.
  3. Hospitalization Reimbursement & Leave Fare Concession This allowance includes expenses related to illness. On an average, an officer is permitted Rs.700/day in hospital and a yearly expense of Rs.5100 as medical aid per year. Leave expenses for medical or non-medical reasons are generally granted along with 1st class train tickets up to a distance of 4000kms.
  4. Deputation Allowance If the officer is asked to report any other branches of the bank or special events like training, surprise visit or due to temporary staff shortage, then he is liable to deputation allowance. This can be approximately Rs.1500/day other than travel expenses incurred by him.
  5. Monthly perks Officers are also awarded various other small perks every month depending upon their performance and also according to the will of the bank he/she is working for. These mostly include petrol expenses for up to 35 liters and newspaper expenses up to two of them.
  6. Additional perks Some other perks can vary from bank to bank one is working for. These can include the monthly telephone or entertainment expenses. Other perks can be availed only one time which consist of furniture allowances, briefcase allowances, cheaper loans and insurances policies.

Therefore, in spite of paying a decent salary, the job of a Probationary Officer offered by the Institute of Banking Personnel and Selection, can prove to be one of the most lavish and respected job with its alluring perks and dignified job profile.