Get a glimpse of what the leading government banks of India offer their employees in terms of salary package and allowances. The report has been generated after analyzing the bank’s recruitment advertisements over three years and a set of replies received to relevant applications under RTI Act. Salary increases in banks are dependent on each individual bank’s financial performance, profitability, development operation-linked human resource intake and technology up-gradation. Its performance is often not linked with the overall GDP growth..
1. State Bank of India:
tate Bank of India is the largest commercial bank in India with respect to business volume, customer base, number of branches, number of employees and employee salary cost. It also has the credit of being the highest paying public sector bank in India.
Founded in the year 1955, State Bank of India with its largest network of branches and ATMs spread across the length and breadth of the country, has some of the best salaries in the offing. According to Salary survey 2014 by Financial Express it pays around 8% more than standard market salaries.
Formerly known as the United Commercial Bank, UCO bank today has emerged as one of the leading choices of aspirants in the banking industry. With an employee rating of 3.4 out of 5 in glassdoor.com, UCO bank has sure further milestones to achieve in the near future.
The reason why UBI or the United Bank of India has made a cut in the list despite paying 2% below market standards according to payscale.com, is that it still pays comparatively higher salaries than most of the other banks.
Punjab National Bank: With an employee rating of 3.8 out 5 (glassdoor.com) and a place a in the prestigious Forbes Global 2000, this reputed institution has quite a few impressive offers for candidates
Bank of Maharashtra: If you are aiming for a managerial post at Bank of Maharashtra, you will be paid like this:
- HR Manager- INR 40,000 – INR 44,000 monthly
- Manager- INR 479000- INR 517000 per annum
Oriental Bank of Commerce:
Some of the best salaries are up for the grabs here:
- Loan Officer- INR 31,000 – INR 33,000 per month
- Manager- INR 483,000- INR 519,000 per annum
- Senior Manager- INR 626,000-INR 835,000 (with an annual average of INR 730,850)