IDBI Junior Assistant Manager Salary 2024

Post Name : IDBI Junior Assistant Manager Salary 2024
Post Date :  29 February , 2024
Post Description :  The Industrial Development Bank of India has recently released a recruitment notification for the position of Junior Assistant Manager Grade ‘O’. They have opened up a total of 600 vacancies for this role. What makes this opportunity even more enticing is the appealing salary package offered by the organization. 

IDBI Junior Assistant Manager Salary 2024 Overview

The IDBI Junior Assistant Manager Recruitment presents an excellent opportunity for individuals aspiring to obtain a Post Graduate Diploma in Banking and Finance while also joining the esteemed IDBI Bank. Candidates can anticipate a competitive salary package as Junior Assistant Managers at IDBI Bank.

IDBI Junior Assistant Manager Salary 2024
OrganizationIndustrial Development Bank Of India
PostJunior Assistant Manager
CategorySalary
Vacancy500
Junior Assistant Manager Salary 2024Rs. 6.14 lakh to Rs. 6.50 lakh
Official Websiteidbibank.in

Also Read : IDBI Junior Assistant Manager Syllabus 2024

IDBI Junior Assistant Manager Salary 2024

The IDBI Junior Assistant Manager Salary 2024 follows a structured progression, with various stages of compensation based on the candidate’s training and performance. It’s essential to note that the bank may recover the stipend from candidates who leave the program before joining the bank’s service.

Breakdown of Salary:

  1. Training Period (6 Months): During the initial training phase lasting 6 months, candidates will receive a stipend of Rs. 5,000 per month.
  2. Internship Period (2 Months): Following the training, there is a 2-month internship where candidates will receive a stipend of Rs. 15,000 per month.
  3. On-Job Trainees (OJT) Period (4 Months): Upon successfully completing the 8-month training program, including both Training and Internship, and the Post Graduate Diploma in Banking and Finance (PGDBF) course, candidates will be absorbed into the bank. They will begin their journey as On-Job Trainees (OJT) for an initial 4-month period. The bank will determine their postings at various branches or offices based on operational needs.
  4. Junior Assistant Manager (Grade ‘O’): After becoming part of the bank’s services as a Junior Assistant Manager (Grade ‘O’) and successfully completing the PGDBF course, candidates can expect a competitive compensation package. This package, commonly referred to as Cost to Company (CTC), is anticipated to range between Rs. 6.14 lakh to Rs. 6.50 lakh for candidates placed in Class A cities at the time of their joining.

The salary progression reflects the commitment of IDBI towards nurturing talent and rewarding performance while ensuring a fair and competitive compensation structure for its employees.

IDBI Junior Assistant Manager Allowances

According to the IDBI Junior Assistant Manager 2024 Notification, Grade “O” officers will enjoy specific benefits, which include:

Along with the basic pay perks and allowances get added to the IDBI Junior Assistant Manager Salary 2024. The IDBI Junior Assistant Manager Perks and Allowances vary depending on the place of posting. Here, we have listed down the IDBI JAM Salary 2024 Perks and Allowances.

  • House Rent Allowance
  • City Compensatory Allowance
  • Special Allowance
  • Conveyance Allowance
  • Medical Allowance
  • Entertainment Allowance
  • Newspaper Allowance
  • Travel Allowance
  • Lease Allowance

However, it’s important to note that Grade “O” officers will not be entitled to certain allowances, performance-based variable pay, staff loans, perks, benefits, or other facilities that are typically available to other full-time bank employees.

IDBI Junior Assistant Manager Career Growth

According to the official notice, IDBI Junior Assistant Managers will receive their annual salary increments based on their performance or other criteria set by the bank. Furthermore, Grade “O” officers may be eligible for promotion to Grade ‘A’ after serving for three years, provided they meet performance standards and if there are job openings, as specified in the Bank’s Promotion Policy, which could be updated periodically.

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