IBPS SO Marketing Officer Salary: Review
The updated IBPS SO Marketing Officer salary 2023 job profile, pay scale,career growth,allowance & benefits has been decided on the basis of the 11th Bipartite Agreement in November 2020. The basic pay has been revised to Rs. 36,000 and pay scale has been revised as 36000-1490/7-46430-1740/2-49910-1990/7-63840 and the revised IBPS SO Salary has been made effective from November 2020. However, In- Hand Monthly Salary of a Marketing Officer would be around 55000 INR to 63000 INR inclusive of other benefits, excluding Lease Rent Benefit which varies from city to city. Read further to know about the revised IBPS SO Salary Structure, Job Profile, Career Growth, Allowances, and Promotion Policy of an IBPS PO.
IBPS SO Marketing Officer Salary Monthly
The Gross monthly salary of a newly joined IBPS SO Marketing officer tends to be lie between 53,000 INR to 60,000 INR which varies because of job posting location.
The allowance provided as marketing officer seems to be different in metropolitan if compare the same with non metropolitan city so salary per month differ.
IBPS SO Marketing Officer Salary in Hand
Talking about in hand salary like the minimum level that a marketing officer will get would be 55000 INR to 63,000 INR per month.
But the allowances such as learning allowance , location allowance etc are the likely reason which makes the difference in ” In Hand Salary “.
IBPS SO Marketing Officer Salary Breakup
The detail salary breakup of a marketing officer in bank are given below in a tabular format ( From the candidate of Canara Bank who Cleared the IBPS SO Marketing Officer Mains Cut Off and Interview in 2022 through Learners Jungle Study Material )
| Earnings | Amount | Deduction | Amount |
|---|---|---|---|
|
Basic |
36000 |
Professional Tax |
135 |
|
Dearnace Allowance |
8593 |
CBOA |
125 |
|
Location Allowanace |
700 |
PF |
175 |
|
Learning Allowance |
743.22 |
Contributory Pension |
4432.59 |
|
Special Allowance |
7313.28 |
NA |
NA |
|
Gross Earning |
53349.50 |
Gross Deduction |
4867.59 |
|
Net Income |
48482 |
IBPS SO Marketing Officer Salary With Allowance
In nut shell the allowance so governed by specialist officer in marketing trade are
- Dearnace Allowance
- Special Allowance
- Learning Allowance
- Location Allowance
But apart from these many other yearly allowances are also applicable to marketing officer in banks such as
- Newspaper Allowance
- Medical Allowance
- Petrol Allowance
- LTA Allowance
Pay Scale of Marketing Officer
Pay scales of IBPS SO Marketing officer depend on factor like a officer whether belongs to which scale.
If a marketing officer belongs to scale 1 grade then its pay scale will be different as compare to the pay scale of scale 2 and scale 3 marketing officers in bank.
However detail pay scale are mention in table for reference
| Grade | Scale |
|---|---|
|
Scale 1 |
36000-1490/7-46430-1740/2-49910-1990/7-63840 |
|
Scale 2 |
48170-1740/1-49910-1990/10-69810 |
|
Scale 3 |
63840-1990/5-73790-2220/2-78230 |
Roles and Responsibilities of IBPS Marketing Officer
Being a Marketing Officer you will be posted in any of the mentioned segments of banks given below:
- Asset Department
- Liability Department
- MSME Department
Each of the departments defined above has a separate marketing officer to meet the needs of the bank’s various segments. A few of the Marketing Officer IBPS job description includes
- Sourcing of Asset-based loans for banks such as Housing loans, Car loans, Education loans, etc.
- Sourcing of liability-based products such as health insurance, credit life insurance, mutual funds, NPS etc
IBPS SO Marketing Officer Job Profile : Asset
If you are a Marketing Officer in the Asset side of the Marketing Department you are primarily responsible for following duties
- To ensure tie-up with repudiated builders of your posting location.
- To ensure car dealer tie-up of your region for proposals of four-wheeler and two-wheeler loans.
- To arrange campaigns regarding personal loans and other asset loans in private and public Ltd firms for sourcing loan proposals.
IBPS SO Marketing Officer Work : Liability
Being posted as Marketing Officer in the liability side of the marketing department you are held responsible for the sourcing of third-party products such as insurance products, mutual fund products, etc.
Your major roles and responsibilities involved are:
- Liasioning with third-party agents associated with your banks to source health insurance products for branches
- Enhance the fee-based income for the bank such as opening of Demat account
- To coordinate for credit-based life insurance for housing loans
IBPS SO Salary: Check Post Code
The beneath table mentions the 6 posts for which IBPS takes the IBPS SO exam every year:
| Post Code | Post Name | |
|---|---|---|
|
01 |
IT Officer (Scale 1) |
|
|
02 |
Agriculture Field Officer (Scale 1) |
|
|
03 |
Rajbhasha Adhikari (Scale 1) |
|
|
04 |
Law Officer (Scale 1) |
|
|
05 |
HR Officer (Scale 1) |
|
|
06 |
Marketing Officer (Scale 1) |
|
IBPS SO Career Growth
Once you join any of the nationalized banks after cracking the IBPS SO Marketing Officer examination, you will be designated as a Scale 1 Marketing Officer. With the passage of promotional exams as conducted by respective departments, you will be directed to the following mentioned career path
- Scale 2 – Manager
- Scale 3 – Senior Manager
- Scale 4 – Chief Manager
- Scale 5 – Assistant General Manager
- Scale 6 – Deputy General Manager
- Scale 7 – General Manager
- Scale 8 – Chief General Manager
In Nut Shell, with your hard-working and positive attitude, you can place yourself in a Management position (AGM) within 9 years of service if capable enough to crack fast-track promotion at each of the 3 years.
IBPS SO Job Profile
There are 6 different categories of Specialist Officer in banking sector such as Marketing Officer (MO), Rajbhasha Adhikari, Law Officer, HR Officer, Agriculture Field Officer, IT Officer. Each of these officer have different job profile depending on their role allocation by management.
The brief explanation of these specialist officer job profile are given below:
Marketing Officer (MO's)
To act as a business development manager’s for sourcing of Asset products such as Housing Loan, Vehicle Loan, Education Loan, Personal Loan, Mortagage Loan etc. The officers so involved in such stream generally called as Asset Marketing Officers.
They are also involved in sourcing of 3rd party products for banks such as Mutual Fund, Health Insurance, Credit Life Insurance , Demat and other bank accounts opening . These officers are termed as Liability Marketing Officers.
HR Officer
They are responsible for timely recruitment of substaff, clerks and other officer as per the requirement of banks.
They sould be accountable for timely disbursement of salary and other allowances provided by the bank
The HR Officers must involve in the Training & Development of staffs and officers in order to enhance and upgrade their skills.
IT Officer
Being an IT Officer they are held for proper administartion of networking and accessories availment as per requirement of banks.
They should mainatain all the relevant softwares such as CRM Edge, Mobile Applications such as Vyom App etc of banks.
Agriculture Field Officer
The AFO’S are primarily responsible for sourcing of business and other kind of loans for rural and semi urban areas.
They should source the business such as Union Awas(Housing Loan for rural areas), Union Cash (Personal loan for pensioners), PMEGP etc.
Rajbhasha Adhikari
As per the banking regulation act, each bank has to promote Hindi in the entire region of India. These Rajbhasha Adhikari are responsible for promoting Hindi languages in all those area where hindi language is not so well often spoken alongwith regions which are hindi language driven.
Law Officer
The law officers major task is to maintain and govern the rules and regulations of banks as per directed by apex bank Reserve Bank of India along with other banking acts applicable.
IBPS SO Benefits apart from Salary
Apart from salary, there are many other benefits reserved for the specialist officer. A few of them are Lease Rent Allowances, Conveyance Allowance, Newspaper Allowance, Furniture Allowance etc.
Lease Rent Allowance
Each of the specialist officers will be entitled for a Housing Accommodation Allowance depending on the city you are posted.
If you are posted in a metro city you will be awarded 25000 – 30000 INR per month.
At the same time, you will be entitled to get 15000-20000 INR Per month in case if you are posted at Urban Cities.
However, 10,000-15000 INR per month will be provided to specialist officers in case you get posted in Semi Urban Cities.
In addition to this kindly note these emoluments will be provided only if you don’t avail of HRA and are subject to the provided lease rent agreement made between you and your house owner to the HR Department.
Conveyance Allowance
At the end of each month, you will be provided 6000-7000 INR Per month as conveyance allowance by your respective banks to you.
The variation in amount depends on two factor
- Current rate of petrol per liter
- If traveling more than 8 km per day for business purposes.
It should be noted that if you will be recruited as Marketing Officer then 55 Litres of maximum petrol can be granted else a letter signed and sealed by your department head mentioning the reason for petrol expense beyond 55 liters.
Newspaper Allowance
Being a Specialist Officer, banks will provide you with 450- 500 INR Per Month for the purchase of Newspapers.
These newspapers must be diversified between Business Newspaper and General Newspaper.
Furniture Allowance
At the end of every 5 years, all the specialist officers are eligible for Furniture allowance. These allowances vary from bank to bank but at most 1.5 lakh will be provided to purchase furniture items such as Sofa Sets, beds etc .
However, electronic items such as laptops, Tv, etc are also included in furniture allowances.
To avail of this allowance you will have to provide 3 quotations from different players of such products and a minimum of these quotations will be considered for allowance.
Medical Allowance
At the start of each year, the specialist officers are eligible for Medical Allowance to keep your body check up on a regular basis.
You will be granted 10000 INR Per Year on self-declaration basis.
Entertainment Allowance
To keep your work free from stress and monotomous banks used to provide entertainment allowance on a yearly basis to each of the specialist officers.
This allowance will be given on a self-declaration basis and consist of 9500-10000 INR Per year.
IBPS SO Promotion Policy
Being a Marketing Officer in Scale 1 Cadre, you will be eligible for promotion in two ways
- Fast Track Promotion
- General Promotion
IBPS SO Marketing Officer Fast Track Promotion
In order to promote merit-based promotion nationalized banks have introduced the concept of Fast Track Promotion where after every three years of your completed service from the date of your joining, you will be eligible to sit in the departmental exam conducted by the HR department of your respective Nationalised Bank.
Once you pass the departmental exam you will be allowed to sit in the Interview conducted by your respective department. Depending on the marks obtained through combining your departmental exam and interview exam Marks, the final cut-off has been decided by a competent authority which decides your future of further promotion.
IBPS SO Marketing Officer General Promotion
As per the [13th bipartite agreement] between the management of banks and the Union/Association of banks, being a public sector bank, one should maintain the balance between seniority-based promotion and Merit-based promotion.
To harmonize seniority-based promotion bank has introduced a General promotion technique where after every three years of your completed service from the date of your joining, you will be eligible to sit in the departmental exam and interview exam conducted by the HR department of your respective Nationalised Bank.
IBPS SO Officer Mainstream Cadre Joining After Grade V
Let’s understand the eligibility criteria and policy promotion for Specialist Officers through the pointers mentioned below. On fulfilling the criteria mentioned below a specialist officer is allowed to join the mainstream cadre and is eligible for promotions.
- To be able to join the mainstream cadre a specialist officer is required to complete at least 5 years of service in the specialised cadre.
- To be eligible for promotion after joining the mainstream cadre a specialised officer has to gain 2 years of experience in field operations.
- A specialist officer gets an exemption from a minimum mandatory service of 2 years in rural areas.
- Now, if a specialist officer enters at a higher scale than JMG 1 like Scale-II or others, the minimum service length for promotion from Scale-IV to Scale V will be 9 instead of 12 years.
Reasons Why You Should Join IBPS SO
Some of the reasons that motivate candidates for applying to IBPS SO various posts are as follow.
- Great Pay Scale
- Fair Chances of Promotions
- Fewer Chances of Job Transfer
- Security and Flexibility of Job
- Amazing Incentives, Perks, and Other Allowances
So, kick start your preparations for a bright and secured future as an IBPS Specialist Officer.
About IBPS
The Institute of Banking & Personnel Selection (IBPS) is an autonomous body set up to evolve & implement world class process of assesment & selection of personnel for banks and other relevant clients.
IBPS Provides service to all public sector banks, SBI, NABARD & IDBI . In addition RRB, SIDBI, LIC , GIC , Coperative Banks etc. they also serve them in recruitment process.
Why prepare with Learners Jungle?
Innumerable reasons going through our study material pdf:
Firstly, We have been consistently seeing in IBPS Marketing Officer exam that, more than 85% questions appear from our study material (even after change of syllabus in 2019).
Secondly, You need not study any other book, not even previous years’ papers. We have taken care of everything. You can depend COMPLETELY on us for confidence of 100% coverage
Thirdly, the content is continually updated. You will find all latest amendments and developments in marketing such as SERVQUAL, Emotional vs Rational Pricing etc.
Fourthy, IBPS Marketing Officer asks questions from topics beyond traditional MBA books and this requires study from multiple resources for same topic. We have covered all for you, with our years of experience
Last but not the least, We have dedicated subject matter expert team (all of them are IBPS Marketing Exam qualified). The team continuously keep revising content based on changing exam pattern. Check out Our Team.
IBPS SO Marketing Officer FAQ
The Basic Pay of IBPS SO is 36000 INR
In nut shell the allowance so governed by specialist officer in marketing trade are
- Dearnace Allowance
- Special Allowance
- Learning Allowance
- Location Allowance
But apart from these many other yearly allowances are also applicable to marketing officer in banks such as
- Newspaper Allowance
- Medical Allowance
- Petrol Allowance
- LTA Allowance
Talking about in hand salary like the minimum level that a marketing officer will get would be 48000 INR to 50,000 INR per month.
IBPS Marketing officer plays an important role in the bank. He/She is responsible for increasing the sales to make it more profitable. A marketing officer is involved in all types of marketing, social media & networking events. The Job responsibilities may vary as per the scale of the post & size of the organization. The marketing Officer may have different field opportunities as well.
The average pay offered to Scale 1, Scale 2, Scale 3 employees through IBPS are:
| Grade | IBPS SO Salary |
|---|---|
| Officer Scale I | Monthly salary– Rs. 36400/- Pay Scale– Rs. 23700-980/7-30560-1145/2-32850-1310/7-42020 |
| Officer Scale-II | Monthly salary- Rs. 48800/- Pay Scale- Rs. 31705-1145/1-32850-1310/10-45950 |
| Officer Scale III | Monthly salary- Rs. 64600/- Pay Scale- Rs. 42020-1310/5-48570-1460/2-51490 |
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