The Industrial Development Bank of India (IDBI) offers a promising career opportunity for aspiring banking professionals through its Junior Assistant Manager (JAM) position. This role not only provides a competitive salary but also includes various allowances and significant opportunities for career advancement.
This article delves into the details of the IDBI Junior Assistant Manager Salary 2024, covering aspects such as the pay scale, allowances, career growth prospects, and more.
Article Contents
IDBI Junior Assistant Manager Salary
| Recruiter | Industrial Development Bank of India |
| Post Name | Junior Assistant Manager (JAM) |
| Course Fee | Rs 3,00,000 plus GST |
| Yearly Pay | Rs 6.14 lakh |
| Official website | www.idbibank.in |
IDBI Junior Assistant Manager Salary Structure
The salary structure for an IDBI Junior Assistant Manager is designed to be competitive and rewarding. Upon successful completion of the training and probationary period, candidates are appointed as Grade ‘O’ officers with a comprehensive salary package.
Pay Scale
- Annual CTC: ₹6.14 lakh to ₹6.50 lakh in Class A cities
- Training Period Stipend:
- First 6 months: ₹5,000 per month
- Next 2 months (Internship): ₹15,000 per month
Allowances and Benefits
- Travel Allowance: Reimbursement for official travel expenses.
- Halting Allowance: Compensation for expenses incurred during official stays.
- Local Conveyance Allowance: For commuting within the posting city.
- Subsidized Meals: Provision of affordable lunch facilities at work.
- Visiting Officer Benefits: Perks for official visits as per bank norms.
While these allowances provide substantial support, Grade ‘O’ officers may not qualify for certain benefits available to senior officers, such as performance-linked variable pay or staff loans.
Career Growth and Promotion Prospects
IDBI offers a structured career path for Junior Assistant Managers, with clear guidelines for promotion and career advancement.
Promotion Pathway
- Initial Appointment: Grade ‘O’
- Eligibility for Promotion to Grade ‘A’: After completing three years of service, subject to performance and availability of vacancies.
Promotions are based on individual performance and adherence to the bank’s Promotion Policy. This policy is periodically updated to align with organizational goals and needs.
Probation Period and Service Bond
Upon joining, candidates undergo a probation period of one year, which may be extended at the bank’s discretion. Additionally, selected candidates are required to sign a service bond committing to serve IDBI Bank for a minimum duration of three years. If this bond is breached, candidates must pay a penalty of ₹2 lakh plus applicable taxes.
IDBI Junior Assistant Manager Training Program
The recruitment process includes a comprehensive training program that prepares candidates for their roles as Junior Assistant Managers:
Post Graduate Diploma in Banking and Finance (PGDBF): A one-year course that includes:
- 6 months of classroom training
- 2 months of internship
- 4 months of on-the-job training
Upon successful completion of this program, candidates receive a PGDBF diploma and are appointed as Junior Assistant Managers.
Conclusion
The IDBI Junior Assistant Manager position offers an attractive salary package coupled with numerous benefits and allowances. The structured career growth path ensures that employees can look forward to steady professional development within the banking sector. With its blend of competitive pay and opportunities for advancement, this role is highly appealing to those seeking a stable and rewarding career in banking.
