I am normally a right wing guy….and an out and out capitalist. So if somebody came to me and said ‘should i write the PO exam’ I would scoff at them…
Not any more…For those of you who saw the PO Job announced by SBI – 1500 jobs – you will know why.
Details: Age 21 to 30
Educational qualifications that they want: Graduates.
Who will apply: Graduates, Post graduates, CAs, MBAs and of course Engineers.
Why am I so confident? Simply because of the STUNNING* salary on offer. It is better than what many CAs get as a starting salary. In the private sector you run the risk of a finicky, foul mouthed boss. In the public sector, you can complain and ask for a transfer…just forget all that and read on:
PAY: The starting basic pay is Rs 16,900/- (with 4 increments) in the scale of Rs 14500-600/7-18700-700/
2-20100-800/7-25700 applicable to Junior Management Grade Scale I. The official will also be eligible for
D.A., H.R.A & C.C.A as per rules in force from time to time. The compensation per annum at Mumbai is Rs.8,00,000/- plus. The break-up of monthly compensation is as under:
Cash Component Rs. 30, 370/-
Bank’s contribution to PF & Pension Scheme Rs. 4,673/-
Housing (Lease Rental) Rs. 29,500/-
Perquisites (Conveyance, Newspapers, Entertainment
allowance, House & Furniture Maintenance etc. Rs. 4,130/-
In addition, the Officers are also entitled to other benefits like –
(i) Medical Aid for self (100%) and for family (75%)
(ii) Home Travel Concession/Leave Fare Concession
(iii) Concessional Interest Rates for Housing/Car/Personal Loans
The salary scales are under revision with effect from November 2012.
Suprisingly the STUNNING* salary offer is a 11% CAGR increase from 1982…I did this post to show what compounding can do. For most middle class Indians Rs. 800,000 sounds like a wow! salary, but if you adjust 1982 GOVERNMENT SALARIES to 11% inflation it does come to Rs. 800,000. Not much, huh? lol
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