Introduction
Which is a better career choice: SBI PO or IBPS PO?
Most eligible graduate nowadays thinks of getting a prestigious position in any of the Government banking bodies. Besides the other job offerings made by the examination convener bodies, the State Bank of India (SBI) and the Institute of Banking Personnel Selection (IBPS) are offering the post of the Probationary Officer (PO). Candidates often get confused amongst the choices available. Here is a comparison made between the SBI PO vs IBPS PO on various parameters. The comparison will make it easy for the candidates to decide which banking body is better to get recruited and the reason to choose them.
Recruiter
IBPS is the recruitment agency which offers candidates banking job opportunities in 23 public sector banks other than the SBI. It also examines the same. For any further assistance, visit website: Click here
SBI is a public sector bank which conducts recruitment examination for filling up the vacant seats at SBI and its other associate banks, namely; State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, and State Bank of Travancore. For any further assistance, visit website: Click here
Job Designation:
*Depends upon the place of posting.
- The candidates appearing for the IBPS banks are designated as Officer Scale 1 or Assistant manager for a probation period of 2 years.
- On the other hand, an SBI PO is designated as Junior Management Grade 1 Officer for a probation period of 2 years.
- Once the training is complete, the candidates are expected to clear the screening process.
- The candidates who have achieved the predetermined standards are promoted to the next higher grade which is usually the Officer Middle Management Grade Scale-II (Manager).
- The candidates who qualify in the test yet fail to achieve the predetermined standards are designated as Middle Management Grade Scale-II (Officer).
- Customer support: PO shall make the services available to the customer at their ease. It is essential to guide customers about various banking facilities that suit the customer and benefits them.
- Business enhancement: The PO shall be trained in the relevant fields of marketing, advertising, accounting, and finance. They are well equipped to produce useful ideas to enhance the banking business. Here communication with the customers and business personals smartly plays a significant role.
- Handling cash: Usually, the tasks related to cash handling and clearance of payments are done by the clerks under the supervision of the PO. Thus, the PO of the bank shall be responsible for the management, and all such procedures will require the approval and authority of the PO.
- Accounts management: A PO keeps track of all the customer's accounts. In this way, PO is also responsible for approving the bank loans for its customers.
- Every year SBI, IBPS conduct the recruitment process to fill Probationary Officer posts in their respective organization across the country.
- PO exam considered one of the toughest and most popular exams in the nation is attended by lakhs of candidates each year.
- The official notification for each PO exam is released once every year.
- SBI PO notification is generally released in the month of March-April, IBPS PO notification in around July-August.
- While judging the difficulty level of the 2 exams- SBI PO and IBPS PO, the toughest exam is SBI PO.
- The questions asked in IBPS PO is moderate. Both SBI PO and IBPS PO preliminary examination time duration is for 1 hour.
- Questions asked in the preliminary examination of SBI PO and IBPS PO is of 100 marks.
SBI PO:
- The preliminary examination consists of objective type questions for 100 marks.
- The sections include English language, quantitative aptitude, reasoning ability. The exam duration is 1 hour for 100 questions.
- The main examination will consist of objective type tests for 200 marks and descriptive test for 50 marks. Both objective and descriptive tests will be online.
- The objective test includes Reasoning & Computer Aptitude, Data Analysis & Interpretation, General/ Economy/ Banking Awareness, and English Language.
- The Descriptive Test time duration is for 30 minutes duration. The test will have two questions- English Language (Letter Writing & Essay).
- The preliminary examination comprises of three sections- English Language, Quantitative Aptitude and Reasoning Ability.
- The exam will have 100 questions and the time duration is for 1 hour. The maximum marks for the exam are 100 marks.
- The main examination comprises of objective and descriptive tests.
- The objective type section includes Reasoning & Computer Aptitude, General/ Economy/ Banking Awareness, English Language and Data Analysis & Interpretation.
- For the descriptive part, letter writing and essay. The objective part comprises of 155 questions and maximum marks are 200.
- The time duration is for 30 minutes. The maximum marks for the descriptive type are 25 and the time duration is 30 minutes.
SBI PO:
- The exam pattern includes preliminary exam followed by the main exam, group exercise, and interview .
- The merit list will be prepared based on the main exam, interview and group discussion.
- The exam pattern of IBPS PO is quite similar to SBI PO. Preliminary exam, main exam, and interview.
- There is no group discussion in IBPS PO exam pattern.
| Salary Structure | The Amount for IBPS PO (in INR) | The Amount for SBI PO (in INR) |
|---|---|---|
| Basic Pay | 23,700 | 27,620 |
| Annual Increment | 980 for the first seven years. | 980 for the first seven years. |
| Dearness Allowance (DA) Revised Quarterly | 39.8% of the basic pay | 39.8% of the basic pay |
| Special Allowance | 7.75% of the basic pay | @ the rate of 7.75% |
| House Rent Allowance* (HRA) | 9%, *%, or 7% | Shall vary. |
| City Compensatory Allowance* | @ 4%, 3%, or 3% | @4%, 3%, or 0% |
| TOTAL (Monthly) | Varies between 37,360 to 38,700 | 45,000 (May vary as per the HRA) |
Note:
- Four increments are paid extra to an SBI PO at the initial stage.
- This will make the SBI PO's gross salary higher than the IBPS PO by INR 6000.
- Under the HRA norms of the banks, it is possible to take a leased accommodation from the bank's side. This range shall vary between INR 10000 to INR 29000 per month.
| Perks | IBPS PO | SBI PO |
|---|---|---|
| Leased Rental Accommodations | Official bank accommodation or bank quarter | Leased accommodation ranges from INR 8000 provided to the C category centres to INR 29500 in Mumbai centre. |
| Travelling Benefits | Stay at the bank’s guest house, Get paid for the petrol bills. | Travel concessions offered within India. Stay at the bank’s guest house. |
| Medical Benefits | Employees get paid INR 8000 annually for medical aid facility. | Employees get 100% medical facilities. Their families get 75% medical facilities. |
Leave Policies for SBI PO vs IBPS PO is:
- 33 days of privilege leave annually
- 12 days of casual leave annually
- Sick leaves and maternity leave.
- Employees who are women and single men with children or aged parents can take a sabbatical of up to two years.
Other Benefits for SBI PO vs IBPS PO are:
- Housing loan, car loan, personal loan are offered to PO's at concessionary rates of interest.
- Meritorious children of the employees can receive scholarships.
- There is a chance of being posted abroad and work in foreign countries.
- Employees enjoy the pension scheme and spend the rest of their life in happiness.
- Besides, SBI offers its PO's highest entry-level compensation packages in the banking sector. The total compensation may vary from INR 7.55 lakhs annually to a maximum of INR 12.93 lakhs annually.
Career Progression:
- Most candidates applying for the bank POs aspire of the excellent career progression and promotion policies that come along with their job profile.
- In general, the figure below shows the career progression of a PO regarding the designation and the minimum monthly salary: