IBPS Clerk Salary Structure 2024, Revised Salary, Job Profile, Perks & Allowances

IBPS Clerk Salary 2024: Selected candidates for IBPS Clerical Cadre posts in various public sector banks will get lucrative IBPS Clerk Salary along with various benefits, incentives and perks. The main reason why thousands of candidates rush for the IBPS Clerk exam every year is the good salary. IBPS Clerk Salary is one of the important reasons why candidates choose banking career.

The salary of an IBPS Clerk increases gradually as the employee continues to work and is promoted to a higher level. There is always curiosity among students about IBPS Clerk Salary, Benefits and Allowances. Read the below article to know more about IBPS Clerk Salary.

IBPS Clerk Salary

The starting salary for an IBPS Clerk is Rs 19900 per month and the pay scale of an IBPS Clerk is Rs.19900-1000/1-20900-1230/3-24590-1490/4-30550-1730/7-42600-3270/1-45930-1990/1-47920. Candidates must have additional income and job profile details. Here below table is a quick overview of IBPS Clerk Salary 2024.

IBPS Calendar 2024 Out- Click to Check

IBPS Clerk position offers an initial salary package ranging from Rs. 28,000 to Rs. 30,000 per month upon joining, with a starting basic pay of Rs. 19,900, as stated in the official IBPS Clerk notification. This basic pay of Rs. 19,900 serves as the initial salary for an IBPS Clerk. After the training period, various perks and additional benefits are included, which can vary from one bank to another.

IBPS Clerk salary is the sum of basic pay and other allowances such as HRA (House Rent Allowance and Dearness allowances etc.) The first basic pay for IBPS Clerk is INR 19,900. The IBPS Clerk pay scale is INR 19900-1000/1-20900-1230/3-24590-1490/4-30550-1730/7-42600-3270/1-45930-1990/1-47920. The minimum basic IBPS Clerk salary is INR 19,900 while the maximum is INR 47, 920. Refer to the table below to understand clearly the IBPS Clerk salary structure.

IBPS Clerk Salary Slip

IBPS Clerk Salary Slip allows candidates to review the initial salary details provided to newly appointed candidates. The adjustments in salary are at the discretion of the authorities. Candidates will also be able to gain an insight into the in-hand salary of an IBPS Clerk as the salary slip also mentions deductions thereby, enabling candidates to become aware of the final in-hand salary. The total gross IBPS salary is determined by adding basic pay and allowances. The net IBPS salary will be known to the candidates after the relevant deductions to the gross salary. Below, we provide information on IBPS Clerk allowances and promotion aspects.

IBPS Clerk Salary Allowances 2024

Moreover, In addition to IBPS Clerk salary 2024, IBPS Clerks may be eligible for extra benefits depending on where they are posted. The total amount received by an IBPS Clerk includes the salary plus these additional benefits, such as TA, DA, and HRA. Check out the below table for more information on IBPS Clerk salary 2024 allowances:

IBPS Salary and Allowances can vary based on the location

Please refer to the table below to understand the variations in IBPS Salary and Allowances according to different locations:

IBPS Clerk Salary Deduction 2024

When you calculate your own net salary, certain deductions are made, some of which are prescribed by law and some of which are mandatory for organizations. Statutory deductions are provident fund, contribution to NPS etc. Other deductions like professional tax, death benefit fund etc. These deductions are subtracted from the gross salary to arrive at the net salary.

IBPS Clerk Salary 2024 Job Profile

IBPS Clerk Job Profile contains many tasks and not only accounting related accounts but also includes customer service and leadership. An IBPS officer is the first point of contact for bank related queries and queries. He handles reception and customer management functions and hence his job profile is also known as single window operators. The responsibilities of an IBPS officer are as follows:

Here are the key job responsibilities of an IBPS Clerk:

• Bank office clerks are deployed in the back office for various tasks like maintenance of ledger, bank receipt collection, handling the daily closure details
• Updation of Passbooks of account holders at counters
• Printing of receipts for cheques and demand drafts
• bank clerks also do hold bank keys, safe keys under their protection
• They are often placed at the query window to act as an information counter for the customers.
• Handling the deposit and withdrawal cash.
• Verification of various documents and proofs submitted by the customers
• Responsible for bank cash, various important documents, keys, 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
• Issuing of Demand Drafts (DDs), bank accounts for the customers, cash receipts, etc
• Providing information about the latest schemes and government policies
• Guiding customers relating to various banking activities
• Attending to treasury works
• Resolving queries of the customers
• Miscellaneous tasks

IBPS Clerk Promotion

IBPS Clerk position offers significant opportunities for career growth and advancement within the banking sector. It allows individuals to gain valuable experience and demonstrate their potential and merit in the banking industry. To be eligible for promotions, A clerk typically needs to serve a minimum period of 3 years, although some banks may require 2 years. Promotions can occur through two different processes:

Normal/Seniority Process: In this process, promotions are based on experience and seniority. Banks conduct internal written exams for eligible candidates. After successfully passing the exam, IBPS Clerks can be promoted to the role of Trainee Officers and then to Bank Probationary Officers (POs).

Merit-Based/Fast Track Process: Under this process, candidates must hold JAIIB (Junior Associate of the Indian Institute of Bankers) and CAIIB (Certified Associate of the Indian Institute of Bankers) diplomas from the Indian Institute of Banking and Finance (IIBF).

The promotion hierarchy for IBPS Clerk positions, in ascending order, is as follows:

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

Candidates who join the bank through the PO (Probationary Officer) program will enter directly into the Assistant Manager cadre post-confirmation as Management Trainees. The hierarchy for POs is as follows:

• Assistant Manager (Scale 1)
• Manager (Scale 2)
• Senior Manager (Scale 3)
• Chief Manager (Scale 4)
• Assistant General Manager (Scale 5)
• Deputy General Manager (Scale 6)
• General Manager (Scale 7)

The Clerk position serves as an entry-level role in the banking industry, and with experience and dedication, individuals have ample opportunities to prove their capabilities, secure promotions, and eventually reach senior positions within the banking sector.

IBPS Clerk 2024 Career Growth

Career growth in IBPS Clerk positions typically begins with promotions. As clerks gain experience and work for a specific period, they become eligible for promotions to higher roles within the bank. These promotions may include positions such as Officer/Assistant Manager, Manager, and more.

To enhance career growth prospects, continuous skill development and knowledge enhancement in various banking functions are essential. Participating in training programs, workshops, and obtaining certifications related to banking and finance can significantly improve job prospects and open doors to new opportunities.

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