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What is the Difference between IBPS PO Vs SBI PO ?

Dear Readers,
The most common question that cross the mind of any aspiring candidate for bank jobs is whether the pursuit of SBI PO or IBPS PO as a career is better. Both these are most sought-after jobs for graduates and thus, millions of candidates appear in the examination conducted by SBI and IBPS every year. Although the job profile of both posts is same the main difference lies in terms of career prospects, salary and work environment. To give you a clear insight into the essential details about the selection process, job profile, work environment, salary, perks, promotions, etc. of both of these posts we are sharing with you all a comparative analysis of all these important factors.

IBPS PO Vs SBI PO

We will now have a look at various parameters to compare the above-mentioned profiles.

1. Selection procedure

SBI PO

The examination for SBI PO is tougher in comparison to that of IBPS PO. Apart from Preliminary and Mains exams it also conducts a descriptive test of English Language. Successful candidates have to undergo group exercises and interview to get finally selected for the post of a PO.

IBPS PO

IBPS conducts an online examination for selection of Probationary Officers in the participating Banks. The pattern of examination is objective and conducted in two phases, i.e. Preliminary and Mains. The former is a qualifying paper, but the candidates have to clear the cut off to be eligible to appear in Main Examination. Then, the qualified candidates go through a common interview and if shortlisted, gets subsequently placed in one of the participating banks of IBPS recruitment drive.

2. Job profile of a Probationary Officer

Job Profile of both IBPS and SBI PO are similar. A candidate after selection needs to undertake various tasks.
  • The most important work of a Probationary Officer is customer service.
  • It is a very comprehensive concept which includes solving queries of customers that visit bank branch for various services like availing loans, opening of new accounts, deposits, cheque books, credit cards, ATM services and online banking etc.
  • Since POs are directly engaged in customer handling they are also entrusted with duties to add new business to the organization through offering various products and services like fixed deposits, recurring deposits, insurance policies, DMAT accounts etc. to existing and new customers.
  • Apart from this, a PO is also engaged in cash handling activities like cash disbursal and cash collection from cashiers.
  • A PO may have to perform the duties of a clerk also during pressure hours.
  • Some other works include payment clearances, maintaining of reports, official correspondence with other departments.

3. Salary of a Probationary Officer

SBI PO
SBI offers best in class compensation package to the probationary officers. As per SBI, the total compensation per annum for a Probationary Officer would be a minimum of Rs. 7.55 lacs and maximum of Rs. 12.93 lacs depending on the place of posting and other factors. This amounts to above Rs 1 lakh for a Probationary Officer posted in a city like Mumbai. Basic pay for SBI PO is Rs. 27620/-.  Moreover, an SBI PO is paid four extra increments at the time of joining. It makes the salary of an SBI PO Rs. 6000 higher than a PO in other banks.
IBPS PO
An IBPS PO draws a basic salary of Rs 23700/-. He also gets entitled to many other allowances like HRA, DA, Special Allowance, City compensatory allowance apart from the basic salary. Hence, the gross pay of an IBPS PO amounts to Rs. 38703/- (including HRA) per month. However, HRA varies depending on the posting of the PO.

4. Other Perks of a Probationary Officer

Most of the perks offered by SBI and other banks of IBPS are similar. However, the difference lies in the amount of these perks.
(a) Accommodation
  • An SBI PO can avail a leased accommodation for which he is entitled to draw an amount that varies from Rs 8000/- in ‘C’ category cities to Rs 29500/- in Mumbai.
  • In case of IBPS PO, HRA depends on the place of posting and it varies as 9%, 8% and 7%. At some places, banks may provide Official Bank accommodation/Bank Quarter to its POs on the lease.
(b) Medical Aid
  • SBI provides medical aid through CGHS scheme allowing 100 percent compensation for the individual and 75 percent for his family.
  • In most of the banks of IBPS, medical aid is provided as a fixed amount which currently stands at Rs. 8000/- p.a.

5. Work Pressure and Environment of a Probationary Officer

SBI PO
SBI is one of the oldest and largest Banks in India with 24,000 branches (post-merger) and also the largest network of ATMs spanning all over India. It has a far greater penetration than any other Banks and constitutes around 50 percent of the Banking services of India after the merger. This apparently gives you a feel of the work pressure at SBI. Moreover, SBI as one of the oldest banks enjoys the loyalty of its customers. This again increases customer engagement resulting in even more work pressure.
IBPS PO
As far as IBPS PO is concerned, most of the banks are not accessible in rural areas. Hence, the number of customers in these banks is less as compared to SBI, which renders the work pressure relatively less.

6. Career Growth and Promotion of a Probationary Officer

SBI PO
The career prospects in SBI PO are far greater than any other bank under IBPS PO. If you can effectively handle work pressure and prove your calibre to your organization you will be rewarded with more perks and benefits. Moreover, SBI also offers greater chances of foreign postings.
IBPS PO
IBPS PO is an entry level post in the management grade. The hierarchy of promotion starts from the Officer, Manager, Senior Manager, Chief Manager, Assistant General Manager, Deputy General Manager and General Manager also classified as Scale I to Scale VII, respectively.         

SBI PO: Pros and Cons

SBI PO Pros

  • Better career prospects - Promotions in SBI are frequent and employees with the extra set of skills are rewarded.
  • Handsome Salary - The salary package of SBI is an envy of the world. With a CTC above Rs 1 lac, it gives a tough competition to even various MNCs. 4 increments offered by SBI add more to the overall package.
  • Social Status - An SBI PO enjoys a high social status as the post of SBI PO is highly revered.
  • Foreign Postings - With a good network of branches abroad, SBI offers greater chances of foreign postings to its talented employees.

SBI PO Cons

  • Frequent Transfers - Frequent transfers due to the high number of branches are one of the biggest drawbacks of SBI PO. There is a provision of compulsory transfer in every 3 months.
  • Posting in Rural Areas - Due to higher rural penetration, there are higher chances of rural posting.
  • Poor work life balance - There is an immense work pressure in SBI. Hence, it becomes very difficult to maintain work life balance due to long working hours.

IBPS PO: PROS and Cons

IBPS PO Pros

  • Low work pressure - As compared to SBI PO, the work pressure in PSUs is far less.
  • Handsome Salary - The salary of an IBPS PO is attractive and also gets entitled to various benefits like concessionary loans.
  • Job Security - There is no issue of job security as an IBPS PO. You need not fear about any layoffs or recession.

IBPS PO Cons

  • Rural Postings - Rural postings are not uncommon.
  • Promotions - The promotions as an IBPS PO are not as frequent as an SBI PO.
All the above details will give you a clear understanding of the job profile and compensation offered to SBI PO and IBPS PO and help you in making a right decision for your career choice. However, both these posts entail respect, job security, social status with them, but what really does matter is your set of priorities and concerns. If you want to grow day by day and ready to take what it takes to climb up the ladder of success you should opt for SBI PO. On the other hand, if you desire to have a work life balance and considerable time for your family you should go for IBPS PO. Hence, It’s all relative.

All the best for your exams..

Team aimsuccess..!!
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