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The salaries of bank staff are much lower than those of LIC staff. Both bank clerks and senior executives earn less than their counterparts in LIC. The salary difference is also huge, and you will be shocked to know that an LIC sweeper earns much more than a bank clerk. The salary of a Zonal Manager (ZM) in a bank is also much lower than that of a Zonal Manager in LIC.
| Staff Category | Bank Basic Pay (₹) Minimum | LIC Basic Pay (₹) Minimum | Difference (₹) |
|---|---|---|---|
| Clerk vs Assistant | 24,050 | 38,700 | 14,650 |
| Scale I Officer vs AAO | 48,480 | 88,635 | 40,155 |
| Subordinate Staff vs Sweeper | 19,500 | 29,585 | 10,085 |
| Scale VII Officer vs ZM(S) | 1,56,500 | 2,71,245 | 1,14,745 |
Comparison of Maximum Basic Pay
| Staff Category | Bank Basic Pay (₹) Minimum | LIC Basic Pay (₹) Minimum | Difference (₹) |
|---|---|---|---|
| Clerk vs Assistant | 64,480 | 1,08,460 | 43,980 |
| Scale I Officer vs AAO | 85,920 | 1,69,025 | 83,105 |
| Subordinate Staff vs Sweeper | 37,815 | 56,625 | 18,810 |
| Scale VII Officer vs ZM(S) | 1,73,860 | 3,37,945 | 1,64,085 |
This difference is based on basic pay alone. If allowances such as DA, HRA, and special allowances are added, the salary difference becomes even larger. If allowances are included, the LIC AAO salary is approximately ₹40,000 higher per month than the IBPS PO salary.
Let’s take a look at the salaries and basic pay of LIC and bank staff.
Salary and Basic Pay of LIC Staff
Note: The number in brackets indicates the number of increments at that rate. For example: 2,71,245-7,320(2)-2,85,885. This means the starting basic pay is Rs. 2,71,245. Then the employee gets 2 increments of Rs. 7,320 each, and then the basic pay increases to Rs. 2,85,885.
| CADRE | SCALE |
|---|---|
| ZM(S) | 2,71,245-7,320(2)-2,85,885-7,850(1)-2,93,735-8,590(1)-3,02,325-8,905(4)-3,37,945 |
| ZM(O) | 2,41,965-7,320(8)-3,00,525 |
| SDM | 2,16,115-6,265(3)-2,34,910-7,055(6)-2,77,240 |
| DM | 1,78,525-6,265(9)-2,34,910 |
| ADM | 1,45,640-4,385(1)-1,50,025-4,750(6)-1,78,525-6,265(4)-2,03,585 + 3 STAGNATION INCREMENTS |
| AO | 1,19,330-4,385(7)-1,50,025-4,750(6)-1,78,525 + 6 STAGNATION INCREMENTS |
| AAO | 88,635-4,385(14)-1,50,025-4,750(4)-1,69,025 + 3 STAGNATION INCREMENTS |
| DEV. OFFICER | 58,885-3,645(2)-66,175-4,300(2)-74,775-4,385(17)-1,49,320 + 5 STAGNATION INCREMENTS |
| HGA | 58,325-3,925(3)-70,100-4,385(15)-1,35,875 + 7 STAGNATION INCREMENTS |
| STENO | 48,745-2,800(4)-59,945-3,245(2)-66,435-3,960(3)-78,315-4,110(2)-86,535-4,385(8)-1,21,615 – 7 ST.INC. |
| ASSISTANT | 38,700-2,275(1)-40,975-2,485(2)-45,945-2,800(5)-59,945-3,245(2)-66,435-3,960(3)-78,315-4,110(2)-86,535-4,385(5)-1,08,460 + 7 STAGNATION INCREMENTS |
| R.C. | 35,850-1,280(4)-40,970-2,020(3)-47,030-2,275(2)-51,580-2,300(6)-65,380-2,485(6)-80,290 + 7 ST.INC. |
| DRIVER | 35,850-1,620(6)-45,570-1,680(1)-47,250-2,020(12)-71,490 + 7 STAGNATION INCREMENTS |
| PEON | 31,205-1,280(5)-37,605-1,365(8)-48,525-1,620(1)-50,145-1,680(2)-53,505-2,020(3)-59,565 + 7 ST.INC. |
| SWEEPER | 29,585-1,280(5)-35,985-1,365(8)-46,905-1,620(6)-56,625 + 7 STAGNATION INCREMENTS |
Salary and Basic Pay of Bank Staff
| Staff Category | Pay Scale |
|---|---|
| Subordinate Staff | 19,500 – 665 (4) – 22,160 – 830 (5) – 26,310 – 990 (4) – 30,270 – 1,170 (3) – 33,780 – 1,345 (3) – 37,815 (20 years) |
| Clerk | 24,050 – 1,340 (3) – 28,070 – 1,650 (3) – 33,020 – 2,000 (4) – 41,020 – 2,340 (7) – 57,400 – 4,400 (1) – 61,800 – 2,680 (1) – 64,480 (20 years) |
| Scale I Officer | 48,480 – 2,000 (7) – 62,480 – 2,340 (2) – 67,160 – 2,680 (7) – 85,920 |
| Scale II Officer | 64,820 – 2,340 (1) – 67,160 – 2,680 (10) – 93,960 |
| Scale III Officer | 85,920 – 2,680 (5) – 99,320 – 2,980 (2) – 1,05,280 |
| Scale IV Officer | 1,02,300 – 2,980 (4) – 1,14,220 – 3,360 (2) – 1,20,940 |
| Scale V Officer | 1,20,940 – 3,360 (2) – 1,27,660 – 3,680 (2) – 1,35,020 |
| Scale VI Officer | 1,40,500 – 4,000 (4) – 1,56,500 |
| Scale VII Officer | 1,56,500 – 4,340 (4) – 1,73,860 |
Note: The number in brackets indicates the number of increments at that rate.
