IBPS Clerk Salary 2023: Institute of Banking Personnel Selection conducts the IBPS Clerk CRP Exam for the recruitment of eligible candidates as clerks in various PSBs. The IBPS Clerk Salary is determined by the Board for the young joiners. The IBPS Clerk Salary starts from Rs. 19,900/- and the maximum initial salary is Rs. 47,920/-. During the training period, candidates will not given their full salary. However, after training and due allotment, the determined salary will be credited to their accounts. In this article, we have mentioned the IBPS Clerk Salary, Salary Structure, Pay Scale, Allowances, Career Growth and Promontion.
IBPS Clerk Salary 2023
IBPS Clerk Salary 2023: The Institute of Banking Personnel Selection (IBPS) has released the details about the IBPS Clerk Salary 2023 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 IBPS Clerk Salary in 2023 but also a wide spectrum of jobs.
Institute of Banking Personnel Selection offers 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 Salary- Overview
IBPS Clerk Salary Overview: The complete IBPS Clerk Salary structure, pay scale, allowances, and career growth prospects is discussed below. Check the overview here.
|IBPS Clerk Salary 2023|
|Conducting Authority||Institute of Banking Personnel Selection (IBPS)|
|Name of the exam||IBPS Clerk CRP XIII|
|Registration Dates||1st July 2023 till 21st July 2023|
|Stage of IBPS Clerk Exam||Prelims & Mains Exam|
|Salary||Rs. 19,900- Rs. 47,920/-|
|Allowances||Dearness Allowance, House Rent Allowance, Special Allowance, Transport Allowance|
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 clearer and easier 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.
|IBPS Clerk Pay Scale|
|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 Slip
IBPS Clerk Salary Slip: Candidates can check the initial salary slip provided to the newly appointed candidates. The adjustment of salary is completely upon the authorities. The details related to the IBPS Clerk Allowances and Promotion aspect is given below.
IBPS Clerk Salary Allowances 2023
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 the posting, how the branch is progressing, and some other factors. The various types of allowances provided to the IBPS Clerk are listed below:
|IBPS Clerk Salary Allowances|
|Special Allowance||Rs 4118/-|
|Dearness Allowance (DA)||
|House Rent Allowance (HRA)||
|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 :
Check the variations of IBPS Salary and Allowances in the table given below.
|IBPS Salary and Allowances|
|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 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’s 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 Operator.
The Job Responsibilities of an IBPS Clerk are given below:
- To manage inquiry corners, receipts, withdrawals, etc.
- A clerk also deals with the opening of new accounts, cash collection, issuing bank statements, and handling mail 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 treasury works
Thus, an IBPS Clerk job profile is quite a task without which some of the major bank operations might not be possible.
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 a promotion. Promotions are given through the following two processes:
- Normal/Seniority process
- 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 are 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.
- 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 is an 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 their work qualities that can provide a promotion to them and can also help them to reach the senior post.
IBPS Clerk Career Growth
IBPS Clerk Career Growth: Career growth in IBPS Clerk starts with promotions. After working for a certain period and gaining experience, clerks can be promoted to higher levels. Further promotions include becoming Officer/Assistant Manager, Manager, and more in the bank.
Continuous skill development and upgrading knowledge in various banking functions can boost career growth. Participating in training programs, workshops, and acquiring certifications related to banking and finance can improve job prospects and open doors to new opportunities.