Top ten government banks in India offering best salary packages

Get a glimpse of what the leading government banks of India have to offer in terms of salary packages to their respective employees. The list comprising the top ten well paying government banks of India has been drawn after a comparative study of salaries offered to leading posts. The same has been sourced mainly from payscale.com and glassdoor.com.

State Bank of India: Founded in the year 1955, State Bank of India with its several branches spread across the length and breadth of the country, has some of the best salaries in the offing. According to payscale.com it pays around 8% more than standard market salaries. Here is more on the State Bank of India salaries:

JobsAverage/Median Annual Salaries
Bank ManagerINR 240,632 - INR1,006,655
Chartered AccountantINR 222,263 - INR1,129,798
Bank ClerkINR 153,819 - INR451,948
Loan OfficerINR 162,125 - INR596,672
Branch Manager, BankingINR 165,000 - INR920,000

There is usually a steady rise in ranges along with experience while employees are also entitled to great perks and benefits:

  • Assistant Manager
  • Cell Phone
  • Relocation Expenses
  • Paid Vacation
  • Superannuation benefits
  • Paid Sick Leave
  • Life Insurance

Know the Salary of Various Jobs in State Bank of India

UCO Bank: Formerly known as the United Commercial Bank, UCO bank today has emerged as one of the leading choices of aspirants in the banking industry. With an employee rating of 3.4 out of 5 in glassdoor.com, UCO bank has sure further milestones to achieve in the near future. Here is a glimpse of current salaries at UCO:

JobsAverage/Median Annual Salaries
Assistant ManagerINR 286,000-INR 313,000 (with an annual average of INR 299,316)
IT OfficerINR 36,000-INR 39,000 (monthly)
ManagerINR 420,000-INR 700,000 (with an annual average of INR 590,000)
Relationship ManagerINR 38,000-INR 41,000 (monthly)

UBI Bank:The reason why UBI or the United Bank of India has made a cut in the list despite paying 2% below market standards according to payscale.com, is that it still pays comparatively higher salaries than most of the other banks. Have a look:

JobsAverage/Median Annual Salaries
Financial Research AnalystINR262,557 - INR1,000,075
Branch Manager, BankingINR 228,203 - INR977,161

Perks/BenefitsPayment (Annually)
Paid VacationINR 526,205
Supplemental Maternity LeaveINR 480,000
Cell PhoneINR 545,349
RelocationINR 427,293
Sick LeaveINR 460,000
Pension PlanINR 526,205
Education/Certification reimbursementINR 390,000

Bank of Baroda: Hailed as one of the largest public sector banks in India with around more than 4000 branches in India, Bank of Baroda has designed some of the most comprehensive salary packages for employees:

JobsAverage/Median Annual Salaries
Joint ManagerINR 291000- INR 312000
Computer OperatorINR 180,000-INR 500,000 (with an annual average of INR 376,667)
Probationary OfficerINR 290,000- INR 314,000
Specialist OfficerINR 300,000-INR 450,000 (with an annual average of INR 378,125)

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Canara Bank: The kind of salaries paid by this bank can be gauged from the fact that even a clerical staff is entitled to earn as high as more than INR 500,000 a year (average). Here is more:

JobsAverage/Median Annual Salaries
Senior ManagerINR 420,000-INR 720,000 (with an annual average of INR 610,000)
Assistant Manger (Credit)INR 464,000-INR 503,000
ClerkINR 173,000-INR 521,000 (with an annual average of INR 347,010)
Investment OfficerINR 173,000-INR 188,000
ManagerINR 500,000-INR 750,000 (with an annual average of INR 616,667)

Oriental Bank of Commerce: Some of the best salaries are up for the grabs here:

  • Loan Officer- INR 31,000 INR 33,000 per month
  • Manager- INR 483,000- INR 519,000 per annum
  • Senior Manager- INR 626,000-INR 835,000 (with an annual average of INR 730,850)

Allahabad Bank: With a rating as high as 3.9 out of 5 by employees (according to glassdoor.com), the comparatively smaller bank has firmly consolidated its place among the leading public sector banks in India paying some of the best salaries in the industry.

JobsAverage/Median Annual Salaries
Chief ManagerINR 625,000-INR 679,000
Bank OfficerINR 220,000-INR 475,000 (with an annual average of INR 338,750)
Probationary OfficerINR 348,000-INR 372,000
OfficerINR 287,000-INR 311,000

Punjab National Bank: With an employee rating of 3.8 out 5 (glassdoor.com) and a place a in the prestigious Forbes Global 2000, this reputed institution has quite a few impressive offers for candidates. Here is how they pay:

JobsAverage/Median Annual Salaries
Senior ManagerINR 420,000-INR 883,000 (with an annual average of INR 630,600)
Deputy Manager, ITINR 290,000-INR 367,000 (with an annual average of INR 328,307)
ManagerINR 528,000-INR 622,000 (with an annual average of INR 574,882)
Clerical StaffINR 192,000-INR 531,000 (with an annual average of INR 361,265)

Bank of Maharashtra: If you are aiming for a managerial post at Bank of Maharashtra, you will be paid like this:

  • HR Manager- INR 40,000 INR 44,000 monthly
  • Manager- INR 479000- INR 517000 per annum

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IDBI Bank: Founded in the year 1964, this bank has etched out quite a niche among employees with a glassdoor.com rating of 3.6 out of 5. Here is more on the salaries that IDBI has in store for its staff:

JobsAverage/Median Annual Salaries
ManagerINR 650,000-INR 750,000 (with an annual average of INR 693,750)
Assistant ManagerINR 450,000-INR 500,000 (with an annual average of INR 464,750)
Assistant General ManagerINR 68,000 INR 73,000 (monthly)
ExecutiveINR 192,000 INR 206,000

*Salaries are subject to change without prior notice.

 


Last Updated on : 23/12/2013