“State Bank of India is the largest public sector bank in India. Working in SBI is like working with market leader among banks. This article talks about the salary of employees working in SBI. Scroll down to know more about the salary of SBI staff, right from the CEO, Directors, General Managers, Managers, Specialist Officers, General Officers, POs, Clerical Cadre staff and sub staff. ”

Salaries in State Bank of India

State Bank of India offers salaries and remunerations that is at least 14% more than the industry standards. That the bank follows very strict hiring criterions can be gauged from the fact it selected only 20,682 applicants out of 30 lakh job seekers in 2012-13. Fresh recruits apart from receiving high starting salaries are also entitled to generous incentives and perks including but not limited to paid vacations, paid medical leaves, cellphone allowance, city compensatory allowance, and so on. Salaries also receive a boost periodically as an employee gains working experience.

SBI PO Salary

A SBI Probationary officer has a good opportunity of career growth and promotions in the bank. Once he gets confirmed for the post, the next set of designations waiting for him goes in this order: PO – Confirmation – Assistant Manager – MM2 – MM3 – SM4 – AGM – DGM – GM – CGM – JMD – MD – Chairman A SBI PO gets a handsome salary package. His Salary depends on his/her location as well. According to the SBI PO Recruitment 2015-2016 advertisement, the basic pay of a SBI PO starts from about Rs 41,877 per month. He is also eligible for enjoying other benefits and perks like HRA, Conveyance, Medical, LFC/HTC etc. He can earn CTC 8 Lakhs per annum.

SBI Bank PO Salary Structure – Entry Level

Major A Class Cities* Area – I* Other Areas
Basic Pay 23700 23700 23700
Special Allowance 1836.75 1836.75 1836.75
DA 10163.63 10163.63 10163.63
CCA 870 600
Total (without HRA) 36570.38 36300.38 35700.38
HRA 2133 1896 1659
Gross with HRA 38703.38 38196.38 37359.38

Perks that are available to SBI PO

Leased Accommodation, Home Travel Concession/Leave Fare Concession, Newspaper Reimbursement, Medical Aid, Coverage under New Pension Scheme, Housing (Lease Rental) and Concessional Interest Rates for Housing/Car/Personal Loans

SBI Clerk Salary

SBI offers an excellent career to its employees in the post of Bank Clerks. The bank clerk post is an excellent way to get into the banking sector. This has made the job, popular among the young generation. Bank Clerks get fair chances of promotion. The designation waiting for the Bank clerks after promotion is the Officers. The promotion is based on the performance of the employees and interviews. The salary of Bank Clerk is pretty attractive. They get the pay scale of Rs 138,808 – Rs 375,517 per annum. They are also eligible of other benefits and perks.

SBI Clerical Grade Salary – Lowest and Highest Gross Salaries for each position per month

Addl Senior Assistant Rs.31253.00 – 105447
Assistant (Non Bank) Rs.21991.00 – 77557.00
Assistant (Banking) Rs.17020 – 133260
Clerk On Probation Rs.18579 – 75914
Computer Operator Rs.32252 – 75040
Customer Care Assistant Rs.14476 – 84186
Godown Keeper Rs.39574 – 71193
RK/RK cum Cashier Rs.29602 – 99513
Senior Stenographer Rs.48502 – 81052
Spl RK/RK Cashier Rs.56113 – 132678
Spl Stenographer Rs.21152 – 106208
Spl Assistant (Non Bank) Rs.53873 – 137095
Spl Assistant (Banking) Rs.58782 – 190654
Sr Assistant (Non bank) Rs.41123 – 107603
Sr Assistant (Banking) Rs.34377 – 165693

SBI Officer Grade Salary Table: Lowest and Highest Salaries for each Position per month

Assistant Manager Rs.29649 – 277143
Assistant General Manager Rs.55070 – 307372
Chief General Manager Rs.151939 – 409067
Chief Manager Rs.75560 – 270474
Deputy Manager Rs.45450 – 193668
Deputy Managing Director Rs.200373 – 216962
Dy General Manager Rs.101360 – 358769
General Manager Rs.127688 – 290908
Management Executive Rs.59395 – 63151
Manager Rs.56677 – 271144
Probationary Officer Rs.27856 – 64262
Trainee Officer Rs.31167 – 89784

 

SBI Specialist Officer Salary Table: Lowest and Highest Salaries for each Position per month

Assistant Manager (S) Rs.39426 – 92355
Assistant General Manager (S) Rs.103797 – 133593
Chief Manager (S) Rs.67542 – 305341
Deputy Manager (S) Rs.40932 – 160729
Deputy General Manager (S) Rs.118888 – 145833
General Manager (S) Rs.132037 – 141975
Manager (S) Rs.60754 – 209636

Median Salary According to Job Title

Job Title Average Salary Range in Lakhs
Account Manager 16,49,850 INR
Account Assistant 6,48,200 INR
Accountant 7,83,040 INR
Assistant Manager (Customer Service) 8,84,500 INR
Assistant Branch Manager (Banking) 7,72,430 INR
Bank Officer 10,54,770 INR
Bank Clerk 4,28,468 INR
Bank Manager 9,60,000 INR
Certified Financial Planner 7,33,900 INR
Branch Manager (Banking) 10,85,000 INR
Credit Analyst 10,73,740 INR
Credit Manager 11,05,800 INR
Clerical Assistant 3,84,250 INR
Office Assistant 3,60,000 INR
Front Desk Clerk 502,020 INR
General Manager (Operations) 28,41,500 INR
Office Clerk (General) 3,37,900 INR
Systems Manager (IT) 5,87,866 INR
Probationary Officer 5,44,700 INR

Median Salary in Terms of Work Experience

Years of Experience Average Salary in Lakhs
0-1 year 2,48,200 INR
1-4 years 3,10,019 INR
5-9 years 5,60,000 INR
10-19 years 5,66,752 INR
20 years and more 5,49,900 INR

Median City-Wise Salary

City Average Salary in Lakhs
Mumbai (Maharashtra) 5,74,409 INR
New Delhi 6,83,958 INR
Mumbai Metro (Maharashtra) 4,36,830 INR
Bangalore (Karnataka) 6,02,192 INR
Chennai (Tamil Nadu) 6,89,671 INR
Hyderabad (Andhra Pradesh) 4,20,000 INR
Kolkata (West Bengal) 4,47,225 INR
Delhi (NCR) 3,98,517 INR

Median Salary According to State

State Average Salary in Lakhs
West Bengal 4,60,877 INR
Tamil Nadu 3,66,764 INR
Maharashtra 5,77,622 INR
Delhi 6,32,983 INR
Karnataka 4,54,350 INR
Andhra Pradesh 4,81,002 INR
Uttar Pradesh 4,72,083 INR

Median Salary According to Certification

Certification Average Salary in Lakhs
Chartered Financial Analyst 6,32,450 INR
Certified Public Accountant 1,28,356 INR
B.Com 3,18,285 INR

Median Salary in Terms of Skill

Skills Average Salary in Lakhs
Microsoft Word 4,60,438 INR
Microsoft Office 5,50,710 INR
Microsoft Excel 3,94,900 INR
Financial Analysis 5,42,583 INR
Customer Relationship Management 6,59,098 INR
Account Management 4,29,630 INR
Windows XP/2000/NT 5,21,700 INR
Operations Management 5,92,057 INR
Project Management 5,50,010 INR
Banking 5,83,532 INR

Median Salary According to Industry

Industry Average Salary in Lakhs
Banking 4,89,126INR
Investment Banking 4,02,790 INR
Financial Services 4,34,089 INR
Software Services 2,43,000 INR
Loans, Credit Instruments and Mortgages 4,74,610 INR
Accounting, Tax Services and Auditing 1,58,800 INR
Life Insurance 4,25,025 INR

Median Salary in Terms of Degree

Degree Average Salary in Lakhs
Bachelor’s Degree 7,40,382 INR
Master of Business Administration (Finance) 8,93,793 INR
MBA (Marketing& Management) 6,50,000 INR
B.Com (Accounting & Finance) 8,08,100 INR

About State Bank of India

State Bank of India is a public-sector multinational banking and financial services organization that was founded in the year 1956. It is the biggest of all public and private sector banks in India both in terms of assets and office network. SBI’s total assets as of December, 2013 were approximately 23280 billion INR. It has 16,000 branch offices, satellite centres, and POS (point of sale) out of which 190 branches were located overseas. The bank offers consumer, corporate, investment, mortgage, finance, insurance, and private banking services. It also furnishes wealth management services. Almost all the branches of SBI are linked with each other under a single network for providing core banking services. As of March 31st 2013, a total of 2, 28, 296 employees were employed with SBI out of which 46,833 were women.