IBPS Clerk Salary 2023, Job Profile, In-hand Salary & Allowances

IBPS Clerk Salary 2023

IBPS Clerk Salary 2023: The Institute of Banking Personnel Selection (IBPS) provides the details about the IBPS Clerk 2023 salary along with the notification. As the IBPS has announced the recruitment of CRP XII Clerks in various banks. IBPS Clerk offers not only the highest paying but also a wide spectrum of jobs. IBPS Clerk salary is a very handsome amount which makes this exam one of the most sought after. IBPS Clerk Salary 2023 Allowances are DA allowances, HRA allowances, Medical allowances, Special allowances, and Travel allowances. All appointed candidates are required to undergo probation for 6 months. Bookmark this article for complete details of IBPS Clerk Salary 2023.

IBPS Clerk Pay Scale

IBPS Clerk Salary is the sum of Basic Pay and other Allowances like HRA (House Rent Allowance and Dearness allowances etc.) The first Basic Pay for IBPS Clerk 2023 will be Rs 19,900. The IBPS Clerk Pay Scale is Rs.19900-1000/1-20900-1230/3-24590-1490/4-30550-1730/7-42600-3270/1-45930-1990/1-47920. This is not very easy to understand so we have made it more clear and easy to understand through the table below. While basically, that means the minimum Basic Pay for IBPS Clerk is Rs 19,900 while the maximum is Rs 47,920.

Basic Pay Amount
Initial Basic Pay Rs 19,900 with a yearly increment of Rs1000 for three years
Basic Pay after 3 years Rs 20,900, with a yearly increment of Rs 1230 for the next three years
Basic Pay after the next 3 years Rs 24,590, with a yearly increment of Rs 1490 for the next four years
Basic Pay after the next 4 years Rs 30,550, with a yearly increment of Rs 1730 for the next 7 years
Basic Pay after the next 7 years Rs 42,600, with a yearly increment of Rs 3270 for the next year
Basic Pay after the next 1 year Rs 45,930, with a yearly increment of Rs 1990 for the next year
Basic Pay after next year 1 year  Rs 47,920 (maximum Basic Pay)


IBPS Clerk Salary Allowances

IBPS Clerk Salary Allowances are quite lucrative. There are several allowances provided to a clerk through IBPS. These allowances depend on various factors that may include the location of posting, how the branch is progressing and some other factors. The various types of allowances provided to the IBPS Clerk are listed below:

Special Allowance Rs 4118/-
Dearness Allowance (DA)
  • DA is 4 per cent of the IBPS Clerk Basic Pay.
  • DA depends on the CPI and is revised quarterly, i.e. after every three months.
House Rent Allowance (HRA)
  • The HRA depends on the location of the posting.
  • The HRA remains between 6.5% to 8.5% depending upon the location of the posting.
Travel Allowance (TA) Expenses on official tours and travels will be reimbursed by the bank.
Medical Allowance (MA) This is paid once a year. For IBPS Clerks, the amount is fixed at Rs 2000/- annually.

The variation of IBPS Salary and Allowances as per the location :

IBPS Clerk Salary Structure – Divisions Amount paid to IBPS Clerk
Basic Pay Rs 19,900
Dearness Allowance Rs 5209.82
Travel Allowance Rs 757.08
Special Allowance Rs 4118
House Rent Allowance Rs 2039.75
Gross Pay Rs 32,024.65
Deduction allowed Rs 2570.98
Total IBPS Clerk Salary Rs 29,453.67/-

IBPS Clerk Salary 2023, Job Profile, In-hand Salary & Allowances_50.1

IBPS Clerk Job Profile

As the perks, allowances, and salaries are attractive, it can be assumed that the job profile is not going to be an easy one. IBPS Clerk Job profile involves a lot of duties and responsibilities, and not just accounting, but also has customer service, cash handling, and customer guidance under its purview. An IBPS Clerk is the first point of contact person for bank-related inquiries and issues. He/She deals with the front desk work and customer handling operations and this is why his Job Profile is also known as Single Window Operators.

The Job Responsibilities of an IBPS Clerk is given below:

  • To manage inquiry corners, receipts, withdrawal, etc.
  • clerk also deals with the opening of new accounts, cash collection, issuing bank statements, and handling mails and delivery.
  • Verification of various documents and proofs submitted by the customers
  • Updating the passbooks of account holders
  • Responsible for bank cash, various important documents, keys, etc.
  • Issuing of Demand Drafts (DDs), bank accounts for the customers, cash receipts, etc.
  • Sanctioning of withdrawals by the customers
  • Maintaining the various documents of the bank, balance sheets, ledger, etc.
  • Resolving the various issues of the customers
  • Guiding customers relating to various banking activities
  • Attending to treasury works

Thus, one and all an IBPS Clerk job profile is quite a task without which some of the major bank operations might not be possible.

IBPS Clerk Syllabus 2023 [Prelims +Mains]- Click to Check

IBPS Clerk Exam Pattern 2023 [Prelims +Mains]- Click to Check

IBPS Clerk Promotions

IBPS Clerk offers great chances for growth. As a bank clerk, based on the performance and contribution to the bank, there are many chances of growth. When a person works as a bank clerk he learns the different ways bank functions and chances to prove your potential and merit. A clerk has to serve for a minimum period of 3 years or 2 years in some banks before he can apply for the promotion. Promotions are given the following two processes:

  1. Normal/Seniority process
  2. Merit-based/Fast track process

Normal Process: Candidates who get promoted through this process don’t require JAIIB and CAIIB Diploma. IBPS Clerks are promoted based on experience and seniority and a written exam is conducted internally. After the qualification of the written exam, IBPS Clerks become Trainee Officers and then Bank Probationary Officers (PO).

Merit-Based Process: Under this, the candidates must hold JAIIB and CAIIB diplomas from the Indian Institute of Banking and Finance (IIBF).

Candidates who are aiming for the IBPS Clerk post should always prepare well to be a competition in the examination. Knowing the duties and salary of the post is equally important to all candidates. Candidates must have a clear understanding of how much they would be offered if eligible for the job and even the promotion details.

The levels of promotions for an IBPS Clerk in Ascending Order is given below.

Clerk > Officer > Senior Officer > Asst Manager > Manager > Senior Manager > Chief Manager > Assistant General Manager > Deputy General Manager > General Manager

Those who join through the PO Program will directly be given Assistant Manager cadre post-confirmation as Management Trainee.

  1. Assistant Manager – Scale 1
  2. Manager – Scale 2
  3. Senior Manager – Scale 3
  4. Chief Manager – Scale 4
  5. Assistant General Manager – Scale 5
  6. Deputy General Manager – Scale 6
  7. General Manager – Scale 7

The clerk is the entry-level position in any bank and after appointment, as candidates get the experience of working or their daily schedules, they will get huge opportunities to prove the work qualities that can provide a promotion to them and can also help them to reach the senior post.

IBPS Clerk Cut Off [Previous Year]- Click to Check

IBPS Clerk Previous Year Papers with Solutions- Click Here

IBPS Clerk Salary 2023- FAQs

Q 1. What is the in-hand salary for an IBPS Clerk?
Ans. The In-Hand Salary for an IBPS Clerk at the entry level varies from Rs.28,000/- to Rs.30,000/- per month. However, the salary increases with the years in service.

Q 2. How can an IBPS Clerk get promoted to a higher level?
Ans. An IBPS Clerk gets promoted through two methods: Normal/Seniority process OR Merit-based/Fast track process.

Q 3. What are the benefits that an IBPS Clerk receives apart from the salary?
Ans. An IBPS Clerk gets the facility of DA, HRA, Medical, Travel, Transport Allowances to name a few.

Q 4. What is the basic pay for an IBPS clerk?
Ans. An IBPS Clerk has a basic pay of Rs 19,900/- while the maximum is Rs 47,920/-.

Sharing is caring!

Source link

Add Comment