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IBPS Clerk Salary 2024, Pay Scale, In Hand Salary, Structure, Perks

The 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’s Salary is determined by the Board for the young joiners. The IBPS Clerk’s 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 Promotion.

IBPS Clerk Salary 2024

The Institute of Banking Personnel Selection offers IBPS Clerk Salary and it is a very handsome amount which makes this exam one of the most sought-after. IBPS Clerk Salary 2024 Allowances are DA allowances, HRA allowances, medical allowances, Special allowances, and Travel allowances. All appointed candidates are required to undergo probation for 6 months and their job roles include tasks like Customer handling, cash management, resolving customer queries, etc. For their job, the IBPS Clerk’s in-hand salary is approximately Rs.28,000 to Rs. 30,000/- per month with basic pay of Rs.19,900/-.

IBPS Clerk Salary Structure 2024

The salary of an IBPS Clerk is divided into different amounts which we call a salary structure. The IBPS Clerk Salary structure comprises Basic pay and allowances are added to the salary as a predefined percentage of basic pay. The basic pay of IBPS Clerk is Rs. 19,900/- and you can check the rest of the allowances added to the salary in the table here.

Salary Amount
Basic Pay 19,900
Conveyance Allowance 757.08
Dearness Allowance 5,209.82
SPL DA 4,118
HRA 2,039.75
Total 32,024.65
Gross Salary 32,024.65

IBPS Clerk Pay Scale 2024

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 an IBPS Clerk /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. That means the minimum Basic Pay for IBPS Clerk is Rs 19,900 while the maximum is Rs 47,920.

IBPS Clerk Pay Scale
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 In Hand 2024

To help you with the understanding of the in-hand salary for the IBPS Clerk post, we have shared the salary slip of an employee working as a clerk. You must know by now that salary starts from 19,000 and after due addition of available allowances it becomes approx. Rs. 30,000 (depends on the city and bank that you are posted in). But with time, the monthly in-hand salary increases which ensures growth and stability.

IBPS Clerk Salary Slip 2024

Candidates can check the initial salary slip of the IBPS Clerk 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 are given below. The details given here may vary due to differences in banks and their working conditions.

IBPS Clerk Salary Slip

IBPS Clerk 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 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)
  • DA is 4 per cent of the IBPS Clerk’s 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.
Special Allowance (SA) Rs. 4118/-

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, 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:

  1. To manage inquiry corners, receipts, withdrawals, etc.
  2. clerk also deals with the opening of new accounts, cash collection, issuing bank statements, and handling mail and delivery.
  3. Verification of various documents and proofs submitted by the customers
  4. Updating the passbooks of account holders
  5. Responsible for bank cash, various important documents, keys, etc.
  6. Issuing of Demand Drafts (DDs), bank accounts for the customers, cash receipts, etc.
  7. Sanctioning of withdrawals by the customers
  8. Maintaining the various documents of the bank, balance sheets, ledger, etc.
  9. Resolving the various issues of the customers
  10. Guiding customers relating to various banking activities
  11. 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 a bank functions and chances to prove your potential. 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:

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

Normal Process: Candidates who get promoted through this process don’t require a 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.

  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 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

Career growth in IBPS Clerks 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, and workshops, and acquiring certifications related to banking and finance can improve job prospects and open doors to new opportunities.

Important Links Related to IBPS Clerk 2024
IBPS Clerk Cut Off 2024 IBPS Clerk Selection Process
IBPS Calendar 2024 IBPS Clerk Syllabus
IBPS Clerk Exam Pattern IBPS Clerk Previous Year Question Paper
IBPS Clerk Language Proficiency Test 2024 IBPS Clerk Hand Written Declaration 2024
IBPS Clerk Online Coaching  IBPS Clerk Mock Test 2024
IBPS Clerk Books  IBPS Clerk Apply Online 2024

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FAQs

What is the in-hand salary for an IBPS Clerk?

The In-Hand Salary for an IBPS Clerk at the entry level varies from Rs.30,000/- to Rs.32,000/- per month. However, the salary increases with the years in service.

How can an IBPS Clerk get promoted to a higher level?

An IBPS Clerk gets promoted through two methods: Normal/Seniority process OR Merit-based/Fast track process.

What are the benefits that an IBPS Clerk receives apart from the salary?

An IBPS Clerk gets the facility of DA, HRA, Medical, Travel, Transport Allowances to name a few.

What is the basic pay for an IBPS clerk?

An IBPS Clerk has a basic pay from Rs 19,900 while the maximum is Rs 47,920.

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