State Bank of India (SBI), the largest bank in India, conducts SBI PO exam for the post of Probationary Officer (PO). There are a total of 2403 vacancy to be filled in 2018.
The official notification will be released in the month of March and eligible aspirants can apply for the same. This is surely a great opportunity for you to secure a stable and smooth career with the most reputed bank in our country. The most interesting thing here is that the qualification required for it is graduation from any stream.
You can apply for this post, prepare very hard and give your luck a chance to ace this golden opportunity. Note that the competition level of SBI PO is very high as more than 25 lakh applicants appeared in SBI PO 2017 for just 2313 positions. This makes the success ratio of nearly 0.0009. It means that for every PO position, around 1100 applicants attempted the exam. Not only this, but also the selection procedure adds to the difficulty level i.e. SBI PO is conducted in 3 main stages viz. Prelims, Mains and Group Discussion/ Interview , which makes it a tough nut to crack as you have to clear all the three levels to be a part of SBI.
The number of SBI PO applicants increase every year. So, it is expected that this year also there will be more than 25 lakh applicants for the mentioned positions.
Now some questions would be arising in your mind for sure – What special perks and facilities do SBI proffers to its officers which makes it a highly competitive examIJ Then, what factors distinguish it from the PO positions at any other bankIJ
You may be stunned to know about the facilities that SBI provides to its POs over those offered by any other bank. So, the rest of this article answers these up briefly.
10 Reasons that Make SBI PO Job Better Than That of Any Other Bank in India
Below are the pointers that justify why you must not only apply for the SBI PO position but also secure it through all your dedication, hard work and zeal. Keep reading.
1- largest Bank in India
SBI is not only the largest bank of India but also the largest finance company in our country. It has spread over 13,000 branches, 5 associate banks and 7 non-banking subsidiaries across the nation. Additionally, SBI has multinational branches in various other countries as well.
2- Holding a Prestigious Position in India and Abroad
SBI holds a very good reputation as a prestigious bank in the world. This is well proven by the fact that the bank is listed in the Fortune Top 500 Companies across the globe.
It was ranked at the 298th position in the list of world's biggest corporations of the Fortune Global 500 rankings. Apart from SBI, only seven other organizations of India managed to hold a place in this list.
Being a corporate gem, SBI held 29th position in the list of the most reputed companies in the world as per Forbes 2009 rankings. SBI has also won the ‘Best Public-Sector Bank’ award for multiple years leaving all top Indian banks behind.
In addition to this, SBI has been the only bank that got a place in ‘Top 10 Brands of India in 2010’ list in annual surveys conducted by Brand Finance and The Economic Times. It was also ranked at the 11th position in the Most Trusted Brands - 2010 in India.
3- lucrative Compensation
SBI undoubtedly offer the highest entry-level compensation to its POs in the banking industry. Apart from this, it also gives four absolute advance increments to the newly hired POs.
For instance, the current annual remuneration of SBI PO posted at Mumbai is around INR 8,40,000 (INR 70,000 per month). However, it varies at various SBI branches across multiple locations in our country. Generally, it ranges from INR 7.55 lakhs to INR 12.93 lakhs depending on the location.
This is because various components such as House Rent Allowance, Rental Ceiling and City Compensatory Allowance are variable in nature and depend on the posted location. These salary scales are also considered for revision with pay commissions declared by the central government of India.
You are also given leave travel concession to visit places within India. Also, SBI owns holiday homes and guest houses at tourist places of its officers that you may avail at a very nominal charge.
SBI also provides housing loan, car loan and personal loan to the associates at a concessionary rate of interest as compared to the market. It also offers a scholarship to the talented children of the associates.
4- Ensure Well Being of the Associates
SBI provides medical benefits to its employees and their families. It covers 100% medical expenses for the employees and 75% of those for the dependents. These medical expenses are excluded from the annual compensation offered to the employees.
The bank has tie-ups with many of the best hospitals in India where you will be able to get cashless treatment for any illness. SBI also offers up to 30 days of paid medical leave for the employees in a calendar year.
5- Time-off for the Associates
SBI provides its POs very attractive leave policies. These include 33 days of privilege leave and 12 days of casual leave in a year. You may use these to take your family on a vacation or keep some of those to get encashed at the time of retirement.
Associates are also given sick leaves, maternity leave and paternity leave, as required. Then the female associates and single men with children or ailing or aged parents can get a sabbatical leave of up to two years.
6- luxury Residential Accommodations
SBI leases high-class luxury apartments to its POs. If you are posted at a major centre, you will get a good apartment owned by SBI. At other places, SBI pays you the rent of 7-9% (depending on the location) of your salary as the house rent allowance, which you may use to hire a suitable accommodation.
7- Chance of Getting Confirmed in a Higher Grade or Scale
The POs at any bank in India join in a probation of two years. They are confirmed post completing the probation period in discipline and complying with performance norms as per the bank’s expectations.
Other banks in India confirm their POs only at the lowest management position, like Junior Management Grade - Scale I Officer. At the same time, SBI gives you a chance of getting confirmed at the next higher level, like Middle Management Grade - Scale II Officer, based on your performance during the probation period.
Talented POs are given a chance to go through a screening test at the end of their probation. If they qualify the required standards, they are placed at a higher grade.
Those POs who unfortunately could not qualify the screening test are still confirmed as Junior Management Grade - Scale I Officer. So, it is a win-win situation in any of the cases.
8- Assuring Brightest Career Path for Talented Associates
There is a big myth that a job at SBI do not let you utilize all your skills, and the promotions are done in a channelized government job-based protocol. However, it is absolutely incorrect.
The truth is that SBI gives a lot of growth opportunities to the hardworking and talented associates. It follows an attractive promotion policy, which lets the commendable and extremely talented POs to reach the top management grade in a short span of time.
You would be surprised to know that almost all of the top executives at SBI had joined the bank at the PO level only. Ms. Arundhati Bhattacharya, the present Chairman of SBI, joined the bank as a PO in 1977.
9- Overseas Deputations
SBI PO job is best suited for you if you have aspirations to work abroad. SBI being a global leader in the banking sector has around 200 branches in 40 countries of the world.
Almost all the POs at these offices are from India only. If you are able to prove your talent during your probation, you could be given a chance to work at these offices in the initial phase of your career itself.
10- Mind-Blowing Opportunities at Non-Banking Organizations of SBI
Apart from excelling in the banking sector with its five associate banks, SBI also owns seven non-banking organizations. These include Merchant Banking, Funds Management, Bill Financing, Receivable Financing, Credit Cards, life Insurance, and General Insurance.
In case, you own differentiable skills in the finance and marketing sectors, you would be given opportunities to prove your mettle at these organizations as well. These organizations also offer very good promotions and incentives, and the entry to these is through SBI PO exam only.
So, to conclude, don’t you find the above-mentioned reasons worthy enough to apply for SBI PO, and put in all your efforts for securing a seatIJ This opportunity is something for which no honest effort will be spared. Good preparation for SBI PO exam can definitely help you to ace the exam. We wish you all the best and a great luck for the exam!
