[nilesh]

Discuss about salary of specialist officer in bank of baroda here. Welcome to Courses.ind.in and this page is for salary of specialist officer in bank of baroda discussion. If you are looking for information on salary of specialist officer in bank of baroda then ask your question is as much details as possible in the “Reply” box provided below. The more detailed your question will be, the more easy will it be for our experts to answers your query. And if you have any updated or latest information on salary of specialist officer in bank of baroda, then please share you knowledge with our experts in the “Reply” box below. Your reply will be published here and your knowledge can help many people. Thanks for stopping by at Courses.ind.in. Please visit again.

Can you tell me about the salary structure for SO (Specialist Officer) Post in Bank of Baroda, which makes its recruitment through Institute of Banking Personnel Selection (IBPS) score?

[Vishal Kotkar]

The salary structure for SO (Specialist Officer) Post in Bank of Baroda, which makes its recruitment through Institute of Banking Personnel Selection (IBPS) score is as follows:

Assets Metro Cities (State Capital etc.) (District Level
and Rural Areas)

Basic Pay Rs. 14500/- Rs. 14500/- Rs. 14500/-

Dearness Allowance Rs. 14485.5/- Rs. 14485.5/- Rs. 14485.5/-

CCA Rs. 540/- Rs. 375/- –

Total Salary
(Excluding HRA) Rs. 29525.5/- Rs. 29360.5/- Rs. 28985.5/-

HRA Rs. 1232.50/- Rs. 1087.50/- Rs. 942.50/-

Total Salary
(including HRA) Rs. 30758/- Rs. 30448/- Rs. 29927.5/-

IBPS Specialist Officer Salary Allowances + Benefits

1. Dearness Allowances (DA) –Wherever one live with whatever facility, the bank provides the facility to pay all cost of living on its own responsibility. It is the cost of living adjustment out of basic salary, aimed at hedging the impact of inflation. For bank specialist officers, it is INR 8605.88.

2. Basic Pay– It is the amount of salary paid to the bank employees excluding any extra payments such as allowances and bonuses. For bank SO, it is INR 23700, with effect from June 01, 2015.

3. HRA– This is known as House Rent Allowances which means that the employee will get the house accommodation expenses on behalf of banks, depending on their city of residence. Bank has allowed 9% or 8% or 7% HRA, depending upon the place of the position of an employee.

4. CCA –City compensatory allowance is a fully taxable component of salary which is given to the employees to compensate them for working in big metropolitan cities so that to help them living in high standard. It is the fixed amount rather than calculated on basic pay. CCA for bank SO is generally 4%, 3% or 0%, depending on the place of position.

5. Special Allowances –Special allowances are given to only Scale-1 officers (7.75%). Scale-2 is exempted from this advantage. These are the performance-based bonus or incentives given to employees depending upon their quality performance.

6. Perquisites –It is the profit or benefit provided to employees in addition to their regular salary. It includes newspaper/laundry allowances, medical coverage, Travel allowances, conveyance, house and furniture allowance and total 4130 is calculated to be given.

7. Least Accommodation is up to Rs 29500, this is provided in lieu of HRA.

Other benefits:
Specialist Officers face less frequent transfers as compared to general bankers. Bank jobs are usually secure. There is no risk of losing job.
• Specialist Officers enjoy the same promotions, benefits, and perks enjoyed by general bankers.
• Working as a Specialist Officer in banks also increases knowledge of finance and economy which will help plan finances better.