|Author: Sheo Shankar Jha 24 Jul 2016 Member Level: Gold Points : 2 (Rs 2) Voting Score: 0|
SBI employees enjoy better perks and emoluments than that of other banks such as United Commercial Banks, Canara Banks, Union Bank of India etc. The other Nationlised banks do have the similar pay structure but in no way, they would get the similar fringes as enjoyed by the employees of SBI.
In respect of PO in SBI, they are likely to get four additional increments totalling to the extent of Re 6000/ - more than the PO of other Nationlised Banks. Such declaration was announced in June 2015.
|Author: Venkiteswaran. 24 Jul 2016 Member Level: Diamond Points : 3 (Rs 3) Voting Score: 0|
The salary structure in most of the mainstream banks in India is as per the agreement reached and finalised in the Bi-partite settlements every five years(theoretically) between bank managements and bank trade unions and approved by central government.
The new generation private banks are not participating in these and their pay structures are different as decided by them.
State Bank of India is also a party to Bi-partite settlements. Hence they are also implementing the same salary structure or the Pay Scale. However there can be difference in certain allowances and reimbursements or benefits in individual banks for historic reasons or by the local agreements with the unions or decision by managements.
In that regard it is practically seen that State Bank of India employees get more than employees of other nationalised banks.
Reserve Bank of India has no direct role in salary structure. It is the Banking department in Ministry of Finance which agrees ,amends or objects to bank employees salary matters even when decided by settlements or bilateral decisions.
|Author: Mahesh 24 Jul 2016 Member Level: Gold Points : 2 (Rs 2) Voting Score: 0|
SBI's current expansion has made the company semi PSU bank. This in turn allowed the company to be more better in terms of employment satisfaction. The features and the perks being offered by the bank are much better with the bank. For example, fresher who joins the bank PO compared to other PSU banks earn 2K more than other banks. Also they get more vacation and other company perks. Salary structure for the PSU banks is not governed by one specific entity. So the bank gives out benefits based on the value added and their performance. And in SBI that reflects as per the performance and the company rules.