Union Bank Wealth Officer Salary 2025, Pay Scale, Allowances and Benefits

Union Bank Wealth Officer Salary 2025: If you are aiming for a promising career in the banking sector, the role of a Wealth Officer at Union Bank of India could be your chance to achieve it.

The Union Bank Wealth Officer Salary 2025 ranges from Rs. 60,000 to Rs. 1,00,000, depending on experience, location, and job responsibilities. The Union Bank Wealth Officer Salary Structure 2025 is attractive because it combines fixed pay, performance-linked incentives, and several additional allowances.

Keep reading for the Union Bank salary structure, pay scale, monthly salary, in-hand salary, and allowances.

Union Bank Wealth Officer Salary 2025

Union Bank of India has announced recruitment for 250 Specialist Officers (Wealth Officers) in the MMGS-II grade for 2025. 

The basic salary ranges from Rs. 64,820 to Rs. 93,960 with yearly raises, along with Dearness Allowance, Special Allowance, and other benefits. The estimated annual CTC in Mumbai is around Rs. 21 lakh, which may vary depending on the location and individual factors.

Union Bank Wealth Officer Salary Structure 2025

The Union Bank Wealth Officer Salary Structure 2025 under the Middle Management Grade Scale-II (MMGS-II) starts at Rs. 64,820 per month. After one year, the pay goes up by Rs. 2,340 to Rs. 67,160. For the next ten years, the salary increases annually by Rs. 2,680, reaching a maximum of Rs. 93,960. 

Union Bank Wealth Officer Pay Scale 

The Union Bank Wealth Officer (Wealth Manager) pay scale under the Middle Management Grade Scale-II (MMGS-II) is structured as follows:

Starting basic pay: Rs. 64,820 per month

After 1 year, an increment of Rs. 2,340 raises it to Rs. 67,160

Subsequent annual increments of Rs. 2,680 for the next 10 years

Maximum basic pay capped at Rs. 93,960 per month

This scale is denoted as Rs. 64,820–2,340/1–67,160–2,680/10–93,960, meaning an initial pay of Rs. 64,820, with one increment of Rs. 2,340 after 1 year, followed by annual increments of Rs. 2,680 for 10 years until the maximum Rs. 93,960 is reached.

Union Bank Wealth Officer Benefits and Allowances

One of the most attractive features of the Union Bank Wealth Officer Job Profile is the range of allowances that come along with the salary. Some of the major allowances for Union Bank employees include:

• Dearness Allowance (DA)

• House Rent Allowance (HRA)

• City Compensatory Allowance (CCA)

• Medical coverage

• Retirement and gratuity benefits

• Performance incentives

Union Bank Wealth Officer Indemnity Bond

When you are selected for the Union Bank Wealth Officer job role, the bank may ask you to sign a service bond before joining. This bond ensures that you’ll work with the bank for a minimum specified period, usually three years from the date of joining.

If you leave the job before 3 years, you will have to pay Rs. 2,50,000 plus taxes to the bank, as per government rules

What is the Career Growth Opportunity for Union Bank Wealth Officer?

Union Bank of India offers good chances for career growth, especially at the managerial level. The bank focuses on developing employees through a solid talent management system and clear career paths designed to nurture future leaders. 

After joining as a Wealth Officer, candidates are assigned to departments suited to their skills. With good performance and meeting eligibility criteria, they can advance through these levels:

• MMGS-II: Starting level for Wealth Officers
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• MMGS-III: First promotion after gaining experience
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• SMGS-IV: Mid-senior role with increased responsibilities
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• SMGS-V and higher: Senior leadership positions in the bank

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