Introduction

Most eligible graduates nowadays think about getting a prestigious position in any of the Government banking bodies. Between the two major options, the Institute of Banking Personnel Selection (IBPS) and the State Bank of India (SBI), candidates often get confused. Here, we will make a comparison between the IBPS PO and SBI PO based on various parameters to help candidates make an informed decision.

Recruiter

IBPS is the recruitment agency which offers candidates banking job opportunities in 23 public sector banks other than SBI. It also manages the examination process. For further assistance, visit the IBPS website.

On the other hand, SBI is a public sector bank that conducts recruitment examinations for filling up the vacant seats at SBI and its associate banks. For further information, visit the SBI website.

Job Designation

The candidates appearing for IBPS banks are designated as Officer Scale 1 or Assistant Manager for a probationary period of 2 years. In contrast, an SBI PO is designated as Junior Management Grade 1 Officer for the same probationary period.

Upon completion of the training, candidates are expected to clear the screening process. Those who achieve the predetermined standards are promoted to the next higher grade, usually the Officer Middle Management Grade Scale-II Manager. Those who qualify yet fail to meet the standards are designated as Middle Management Grade Scale-II Officer. Those who fail to qualify either of these are terminated.

Job Tasks

The job tasks of both IBPS PO and SBI PO are comparable. They include:

Customer Support: Ensuring customers are aware of various banking facilities that suit their needs. Business Enhancement: Providing ideas to improve the banking business through marketing, advertising, accounting, and finance. Effective communication with customers and business partners is essential. Cash Management: Supervising tasks related to cash handling and payment clearance. Accounts Management: Keeping track of customer accounts and approving bank loans.

Salary Structure Perks

Both IBPS PO and SBI PO offer similar perks and a good work-life balance. According to the data available, the salary structure and perks for both roles are as follows:

Leaves: Both positions provide 33 days of privilege leave annually, 12 days of casual leave, as well as sick and maternity leaves. Perks and Benefits: Housing loans, car loans, personal loans, and scholarships for the meritorious children of employees are offered at concessionary rates of interest. There is a possibility of posting abroad. Other Perks: Pension schemes and a highest entry-level compensation package in the banking sector, ranging from INR 7.55 lakhs annually to a maximum of INR 12.93 lakhs annually for SBI POs.

Career Progression

The career progression for POs is often attractive, with several levels of promotion available. The chart below shows the general career progression for a PO, including the designation and minimum monthly salary.

Career Progression Chart for IBPS and SBI PO

Conclusion

While both IBPS PO and SBI PO are excellent career choices, the decision boils down to personal preferences and career goals. SBI PO is likely to have better growth opportunities, better leave policies, and higher salary packages. However, IBPS PO might be preferred for a better work-life balance and flexibility. Whichever path you choose, it is important to focus on your training and exam preparation to secure a promising career in the banking sector.

To learn more about IBPS PO and SBI PO, visit the Institute of Banking Personnel Selection and About State Bank of India respectively.