IBPS Clerk Pay Scale, Job Description, Allowances, and Benefits | 2024 Pay Scale: Have you ever considered the salary of an IBPS clerk? What are the IBPS Clerk’s salary range, job description, benefits, and allowances? In case you’re unaware.
Get all the pertinent facts about IBPS Clerk Pay by reading this post. Furthermore, being well informed about the IBPS Clerk Position would undoubtedly inspire you to work towards being one. On the other hand, IBPS Clerks are paid between Rs. 19900 and 1000/1-20900-1230/3-24590-1490/4-30550-1730/7-42600-3270/1-45930-1990/1-47920, according to the information supplied.
Pay for IBPS Clerks in 2024
Along with the formal notice, the Institute of Banking Personnel Selection (IBPS) offers detailed information about the IBPS Clerk Salary 2024. A number of banks have announced the CRP XII Clerk position for recruitment. The IBPS Clerk provides a competitive wage package in addition to a variety of career prospects.
Because of how competitive the IBPS Clerk Salary is, it’s a very desired test to take. A variety of perks, including DA, HRA, Medical, Special, and Travel allowances, are included in the compensation package for IBPS Clerk 2024. It is important to remember that all selected applicants will have to serve a six-month probationary term. It would be best to bookmark this page for all the information you need to know about the IBPS Clerk Salary in 2024.
Pay Scale for IBPS Clerks
The Basic Pay as well as other allowances like Dearness Allowances and HRAs (House Rent Allowance) make up an IBPS Clerk’s income. The starting Basic Pay for an IBPS Clerk is Rs 19,900 for the year 2024. Rs. 19900–1000/1–20900–1230/3-24590–1490/4–30550–1730/7–42600–3270/1-45930–1990/1-47920 is the pay scale for an IBPS clerk. A clearer breakdown is provided in the table below to aid with comprehension. In essence, this indicates that an IBPS Clerk’s base pay ranges from Rs 19,900 at the lowest to Rs 47,920 at the most.
| IBPS Clerk Salary 2023 | |
|---|---|
| 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 Pay In Progress
Before we start, there is a crucial aspect of the distinction between CTC and in-hand income that we must comprehend. After all deductions, the IBPS Clerk’s in-hand wage is paid once a month. Additionally, there will be variations based on the posting location. Workers in places like Mumbai, Delhi, and Kolkata, for example, make much more money.
An IBPS clerk typically makes Rs. 19,900/-per month in base salary.
IBPS Pay Allowances for Clerks 2024
A desirable allowance package is part of the pay package for IBPS clerks. A variety of allowances are available to an IBPS clerk, and they are contingent upon branch performance, the posting location, and other pertinent variables. The various allowances available to IBPS Clerks are as follows:
| IBPS Clerk Salary Allowances | |
| 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/- |
Career Growth and Promotion for IBPS Clerks
IBPS Clerks who get posted have the most fulfilling professional advancement. According to the participating institutions, there are several chances for their staff to advance and succeed in the banking industry. Note that the following are the career and advancements for the position of IBPS Clerk. The greatest advantages and a direct pay improvement will result from these promotions. In addition, written tests and internal interviews will be held, and the employee must meet the requirements to advance in their role.
- Scale 1 – Officer / Assistant Manager
- Scale 2 – Manager
- Scale 3 – Senior Manager
- Scale 4 – Chief Manager
- Scale 5 – Asst. General Manager
- Scale 6 – Deputy General Manager
- Scale 7 – General Manager.
When it comes to the career growth and prospects of IBPS clerks, there are two key qualities that you should comprehend.
- The Normal/Seniority-based Process comes first. Candidates must pass an internal written test in order to meet this requirement. They are promoted in accordance with their seniority and experience. Candidates are not required to have JAIIB and CAIIB diplomas in order to be eligible for advancement in this specific area.
- The second is the Fast-track/Merit-based Process. Here, applicants must meet the prerequisites of the IIBF JAIIB and CAAIB Diploma in order to be considered for advancement.
Job Profile for IBPS Clerks
Given the alluring benefits, allowances, and pay packages provided, it is reasonable to assume that the employment requirements for an IBPS Clerk are demanding. Beyond accounting chores, an IBPS Clerk’s position includes a broad variety of functions and obligations. Their duties also include processing cash, guiding consumers, and providing customer service. The main point of contact for answering questions about banks and resolving problems is an IBPS Clerk. Their job description refers to them as “Single Window Operators,” as they oversee client interactions and handle front desk operations.
The following is a summary of what an IBPS Clerk is expected to do:
- Taking care of inquiry corners, withdrawals, receipts, etc.
- Taking care of mail delivery, bank statement issuance, cash collecting, and new account opening.
- confirming the paperwork and evidence that clients have supplied.
- updating the passbooks of account holders.
- storing keys, cash in the bank, and critical papers.
- issuing cash receipts, bank accounts, and demand drafts (DDs).
- approving withdrawals from customers.
- keeping ledgers, balance sheets, and bank records current.
- resolving complaints from clients.
- provide advice on a range of banking tasks.
- helping with duties pertaining to treasury.
Increases in IBPS Clerk Salaries
You will learn all there is to know about the IBPS Clerk Salary Structure in this portion of the essay, which covers its progression from 11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230/1310-1-31540.
- The starting salary for an IBPS Clerk is Rs. 11,765, with a three-year rise of Rs. 655.
- Next, after a three-year period, base salary of Rs. 13,730/-will be paid, coupled with an additional Rs. 815/-for the next three years.
- For the following four years, there will be an additional increase of Rs. 16,175 in addition to an annual increase of Rs. 980.
- Subsequently, Rs. 1,145 will be paid for the next seven years, in addition to Rs. 20095.
- Additionally, Rs. 2,12/-0 and Rs. 28110 will be paid for the next year.
- In addition, Rs. 30230 will be paid for the next year, along with Rs. 1,310.
- Ultimately, at the highest level, the base salary after a year will be Rs. 31,540.
Responsibilities of an IBPS clerk
The duties of an IBPS clerk are as follows. Candidates need to be very clear on the job role and the responsibilities that they will be carrying out. On the other hand, applicants would undoubtedly benefit from knowing the job description as it will help them estimate the responsibilities of an IBPS clerk. Additionally, gathering information about IBPS Clerk responsibilities can help candidates hone their abilities and become more cognizant of the opportunities that the position presents.
An IBPS Clerk’s primary duty is, first and foremost, to assist clients. working to find answers to the client’s questions. assisting them with understanding the paperwork and requirements. Additionally, they will support the Senior Managers in line with their duties.
- These are the duties of an IBPS clerk.
- The first responsibility of an IBPS Clerk is to verify the various papers and evidence that clients provide.
- Examine the cash receipts, demand drafts (DDs), clients’ bank accounts, and the passbook.
- Work on Resolving Customer Concerns
- Providing consumers with precise guidance about banking operations
- Updating the passbook and controlling cash withdrawals and deposits
- In actuality, Single Window Operations and Treasury Works Attendance.
As a result, candidates hoping to apply for the IBPS Clerk test need to be ready to start working in banking.
In summary, this article provides sufficient information on the salary of an IBPS clerk, the salary structure of an IBPS clerk, and the job profile of an IBPS clerk. Master your bank preparation to get the highest paying and most desirable IBPS Clerk position. I hope you now have a clear understanding of the pay, benefits, and allowances for IBPS clerks. Follow us at freshersnow.com to get more educational articles and to expand your knowledge and actions.