Every year, SBI holds exams to hire Specialist Officers for several departments. This is one of the most sought-after job profiles in India for the year 2022, and the SBI SO salary is one of the primary motivators for people to pursue this position as a career option.
SBI SO Junior Management (grade 1) has a starting salary of Rs 23,700/-. Aside from that, there are other benefits and allowances.
Throughout the year, there are many SBI openings for the SBI Specialist Officer (SO) exam. Candidates are chosen based on their qualifications and the availability of the positions.
The starting compensation varies by position, as will be explained later in this article.
This article will provide an overview of the SBI SO compensation profile, including allowances, perks, and other advantages.
SBI SO Salary in India- The Payscale, Allowances and other perks
Different grades and departments have different requirements. The remuneration for an SBI SO varies.
The following are the remuneration data for SBI SO (by grade and post):
| Sr No | Grade | Scale of Pay |
| 1 | Junior Management Grade Scale I (JMGS I) | 23700-980/7-30560-1145/2-32850-1310/7-42020 |
| 2 | Middle Management Grade Scale II (MMGS II) | 31705-1145/1-32850-1310/10-45950 |
| 3 | Middle Management Grade Scale III (MMGS III) | 42020-1310/5-48570-1460/2-51490 |
| 4 | Senior Management Grade Scale IV (SMGS-IV) | 50030-1460/4-55870-1650/2-59170 |
According to the SBI SO Notification, the following is the salary structure for various posts:
| SBI SO Salary | |
| Post | Pay Scale/ Salary |
| Credit Analysis MMGS-III | 42020-1310/5-48570-1460/2-51490 |
| Product Manager | 42020-1310/5-48570-1460/2-51490 |
| Data Analyst Manager | 42020-1310/5-48570-1460/2-51490 |
| Digital Marketing Manager | 42020-1310/5-48570-1460/2-51490 |
| Faculty, SBIL | Rs. 25 lakh to Rs. 40 lakh per annum |
| Sr. Executive (Digital Relations, Analytics, Digita Marketing) | Rs. 12 lakhs to Rs. 20 lakhs per annum |
| Executive (FI & MM) | Rs. 6 lakhs per annum |
| Sr. Executive (Social Banking & CSR) | Rs. 10 lakhs per annum |
| Deputy Manager (IS Audit) | 31705-1145/1-32850-1310/10-45950 |
| Vice President (Stressed Assets Marketing) | Rs. 40 lakhs to Rs. 43 lakhs per annum |
| Chief Manager (Special situation Team) | 50030-1460/4-55870-1650/2-59170 |
| Deputy Manager (Stressed Assets Marketing) | 31705-1145/1-32850-1310/10-45950 |
| Head (Product, Investment & Research) | Rs.80.00 lakhs to Rs.99.62 lakhs per annum |
| Central Research Team (Data Analytics & Portfolio Analysis) | Rs.25.00 lakhs to Rs.50.00 lakhs per annum |
| Central Research Team (Support) | Rs.7.00 lakhs to Rs.10.00 lakhs per annum |
| Investment Officer | Rs.12.00 lakhs to Rs.18.00 lakhs per annum |
| Project Development Manager (Technology) | Rs.12.00 lakhs to Rs.18.00 lakhs per annum |
| Relationship Manager | Rs.6.00 lakhs to Rs.15.00 lakhs per annum |
| Relationship Manager (Team Lead) | Rs.10.00 lakhs to Rs.28.00 lakhs per annum |
| Deputy Manager – Law | 31705-1145/1-32850-1310/10-45950 |
The following are the numerous benefits and allowances to which the above-mentioned positions are entitled:
- Dearness Allowance
- House Rent Allowance
- City Compensatory Allowance
- Provident Fund
- Pension Fund
- Medical Reimbursement
- Furniture Allowance
Job Profiles
| Post | Job Profile |
| Relationship Manager | Obtaining, sustaining, expanding, and strengthening relationships with affluent and HNI clients in order to achieve commercial goals |
| Relationship Manager (Team Lead) | Managing a team of Relationship Managers for the Wealth Management Business, which includes acquiring, developing, growing, and strengthening relationships with affluent and HNI clients in order to accomplish business objectives. |
| Customer Relationship Executive | CREs assist Relationship Managers on the ground by collecting papers from clients and sending them to the appropriate department for service requests that require paperwork or in-person interaction with the client. |
| Investment Officer | Advising consumers on a variety of financial products Experience in a variety of areas, including MF, FI, Structured Products, and Discretionary Portfolios. |
| Central Research Team (Product Lead) | The Official would work closely with the Product, Investment, and Research Head and be in charge of overseeing the wealth products program. |
| Central Research Team (Support) | Creating and updating excel worksheets relevant to macroeconomics, stock and sector research, fixed income research, and portfolio review templates, among other things, will be part of the role. |
| Manager (Marketing) | To promote Digital & Transaction Banking Products / Services to businesses, institutions, and government departments (state, central, and quasi-government). |
| Deputy Manager (Marketing) | Making client presentations and following up with them. To develop a cross-functional marketing strategy for digital products. |
| Executive (Document Preservation-Archives) | Records, pictures, and paintings are all subject to scientific conservation and preservation. Records fumigation. |
| Assistant Manager (Marketing & Communication) | Lead front-end communication with the product team and come up with appropriate campaign ideas based on a business challenge or opportunity. |
| Assistant Manager- Engineer (Civil) | To submit a proposal for the employment of an architect/consultant to the appropriate authorities for approval. |
| Assistant Manager- Engineer (Electrical) | |
| Circle Defence Banking Advisor | Taking care of any difficulties that are specific to the area. |
| Deputy Manager (Agri Spl) | Agri Products policy changes in response to market needs. |
| Relationship Manager (OMP) | To establish partnerships with merchants and online vendors, as well as to develop customer acquisition and campaign plans. |
| Product Manager (OMP) | Understanding customer needs, assisting in the development of a product vision and strategy and collaborating with the business, technology, and engineering teams to put it into action. |
The following are the SBI SO responsibilities for various grades and profiles:
- Identifying and evaluating various IT-related operations in terms of business needs.
- Establish clear and effective communication with customers and business partners.
- Supervise and manage the installation, configuration, and monitoring of systems and servers.
- Participating in troubleshooting chores
- Prepare status reports for each department’s allocated and completed tasks.
Conclusion
The SBI SO has many responsibilities for which they are paid a handsome salary. Identifying and evaluating various IT-related operations in terms of business needs, Establishing clear and effective communication with customers and business partners, Supervising and managing the installation, configuration, and monitoring of systems and servers, Participating in troubleshooting chores and preparing status reports for each department’s allocated and completed tasks are some of those responsibilities.
