10 highest paying public sector banks in India

Government jobs are always in demand in India. One of the premier government jobs available in the country are offered by the public sector undertakings (PSUs) or public sector banks (PSBs). With the 7th pay commission announced recently, bank jobs in India have become even more lucrative and rewarding.

State Bank of India (SBI)
Among all the PSU banks, the state Bank of India is the most important and has the largest network. The bank’s branches are situated all over the country and it also has the most number of employees when compared with other banks. But what makes a job at the State Bank of India truly lucrative is the fact that they provide the highest salary to their employees which is significantly more than that offered by the other banks. Average annual salary for a state Bank manager ranges from 2.5 lakh to 10 lakh per annum. Similarly the average annual salary for a clerk of the state Bank of India lies between 1.5 lakh to 4.5 lakhs.

United Bank of India (UBI)
UBI is another public sector bank that offers good compensation to its employees. The assistant managers of this bank draw a salary between 2-6 lakhs per annum. Apart from this the bank offers valuable incentives to its employees and also provides loans on a vastly subsidised rate. Senior managers of the bank can draw a salary between 4-7 lakhs per annum apart from incentives and allowances.

United Commercial Bank (UCO Bank)
UCO Bank also offers a nice salary to its employees. Infact due to its advantages this bank is on the top list for banking job aspirants. Assistant managers of UCO Bank draw an average salary of about 4 lakhs per annum. The managers have an average salary of about 6 lakh per annum.

Bank of Baroda (BOB)
This bank is among the biggest public sector banks in the country and has about 4000 branches. Assistant Managers enjoy an average salary of 4.5 lakhs per annum. Also as the bank has a sizeable overseas presence it’s employees may have the opportunity to be posted outside of India.

Allahabad Bank
This bank may be small when compared to the other banks but it is known for paying high salaries to its employees. The senior managers draw a salary of about 6-7 lakhs per month. Assistant managers can get anything between 3.5-4.5 lakh per annum.

Punjab National Bank (PNB)
The second largest public sector bank of India, PNB is ranked high in matters of employee satisfaction. Senior managers can get an annual salary between 4-8 lakhs and managers get about 6 lakh per annum. The employees also enjoys perks and benefits.

Bank of Maharashtra
Bank of Maharashtra is also an important public sector bank in the country. Employees at the managerial position in the bank get about 40 to 50 thousand a month apart from incentives.

IDBI Bank, earlier known as the Industrial Development Bank of India, is the 10th largest development bank worldwide in terms of reach. Senior Managers of the bank get about 7 lakh per annum as compensation while the probationary officers or assistant managers get about 4.5 lakhs per annum.

Canara Bank
This bank headquartered in Bangalore is one of the oldest bank in India. The average salary of a manager at the Canara Bank lies around 6 lakh per annum. Clerks are also paid well in this bank and get a salary of around 4.5 lakh per annum.

Oriental Bank of Commerce
The bank is one of the public sector bank in the country. It pays its senior managers a salary of about 6-8 lakhs per annum. Assistant managers can get anything between 4 to 5 lakh per annum.

Apart from salary there are also several other perks offered to employees of public sector banks. The perks offered vary from bank to bank.