IBPS Clerk Salary 2023: In Hand Salary, Pay Slip, Perks, Pay Scale

Bank Clerk salary is more or less the same in most of the PSB Banks that recruit through the IBPS exam. The Institute of Banking Personnel Selection offers attractive salary pay to its employees based on the place of posting. Apart from the salary of IBPS Clerk, employees also get other perks and benefits. They also want to know about the basic pay of IBPS Clerk, job profile, and IBPS Clerk promotion growth.

Before starting your preparation it is important to know the relevant details about the salary and job profile to keep yourself motivated throughout your preparation. Here, we have shared the detailed basic pay of IBPS Clerk, perks, allowances, promotions, job profiles, etc, we have also attached the IBPS clerk salary slip for your reference. This will help candidates rightly analyze the IBPS Clerk salary 2023 and have realistic expectations.

IBPS Clerk salary comprises various components that add up to IBPS Clerk in-hand salary apart from your basic pay. The Institute of Banking Personnel Selection offers an attractive salary package to its employees. There are numerous other components of the salary package, like dearness allowance, house rent allowance, etc.

* DA - Dearness allowances

* CCA - City Compensatory Allowance

* TA - Transport Allowance

* HRA - House Rent Allowance

There is a difference between CTC and in-hand salary. The IBPS Clerk in hand salary is what you receive every month after all the deductions. The IBPS Clerk salary in hand is the amount provided to the Clerks after the gross deductions and additions for expenditure. Take a look at the under-noted points to get the IBPS Clerk in hand salary details as illustrated herewith.

• The basic pay of an IBPS clerk is ₹ 19,900/- per month.
• The pay scale of IBPS Clerk is ₹11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230-1310/1-31540.
• In addition to this, IBPS Clerks are also entitled to other special pay and allowances.

Along with the IBPS Clerk salary 2023, the candidates are entitled to numerous allowances and emoluments that add up to the fascination of the job. Be completely enriched with the illustrated pertinent of the IBPS Clerk salary to gain insights into the work profile. Take a look at the allowances received by the candidates to have complete knowledge of the IBPS Clerk salary 2023 and the other pertinent.

You must have an in-depth knowledge of the IBPS Clerk salary in hand to be able to have realistic expectations and trace the path of your career accurately. The complete knowledge will keep you motivated in accomplishing your dreams.

• Dearness allowances: DA is 4% of basic pay and revised quarterly for every 3 months which is based on CPI (Consumer Price Index) declared by the banks.
• House Rent Allowance: HRA is 7-9% of basic pay. HRA is different in different cities.

• Special Allowance: 7.5%
• After completion of the one-year service, you will receive an increment of 400/- and ₹ 500 increments in the 2nd year.
• After the 10th Bipartite Wage Settlement of 2015, a Bank Clerk’s salary has increased from now salary ₹ 21,117 to ₹ 31,908.

Note: Salaries in Public Sector banks are revised as per the banking norms only. It is to be noted that the promotion of an individual is judged by the performance of an individual.

The Institute of Banking Personnel Selection offers incentives on the IBPS Clerk salary at regular intervals. The incentives provided to the candidates at regular intervals increase the amount of salary received by the Clerks of the IBPS. The details of the IBPS Clerk salary increments are provided here, walk through the table as illustrated herein.

As we have earlier mentioned the proper breakdown of an IBPS Clerk salary with all deductions and after adding the allowances. Here we are providing an IBPS Clerk salary slip for better insight. This will motivate you to gear up your preparations as it is a great prospect for your career. We have given below the IBPS Clerk salary slip for your knowledge.

It is of prime importance for the candidates to have an in-depth knowledge of the job profile along with the IBPS Clerk salary 2023. Accurate knowledge of the IBPS Clerk job profile will assist the candidates in honing their skills. There are different types of job profiles for a bank clerk, like Accounts Clerk, Data entry Clerk, Office Clerk, Loan clerk, etc.

In every bank, a Clerk is an important post. An important role of the clerk in the bank is to handle many valuable works related to the customer’s accounts and solve their complaints and issues. The job profile of an IBPS Clerk is not limited to a single type of duty like in accounting. As a Bank Clerk, the candidate's major roles and responsibilities will be the following.

• Banking Document Verification
• Manning Single Window Counter task from time to time
• Issue Cash Receipts and ESI Stamps at Counters
• Attending Government Treasury Work
• Pass Books Updation of Account Holders
• An IBPS clerk also performs back-office work like a collection of receipts, maintenance of the ledger, balance tally, etc.
• The IBPS clerk is responsible for sanctioning withdrawals, verifying cheques, issuing demand drafts (as per request), and other services to the customers.
• An IBPS clerk also holds the bank cash, bank keys, and other valuables in safe custody and others.
• The bank clerk is also responsible for marketing the financial products of the bank such as deposits, loans, and schemes to visitors.
• However, with the digitization of the bank, these days the job profile of a bank clerk is mostly related to working on the computer and entering the day-to-day transaction.
• Because of the dealing of a bank clerk with customers, their job profile is also known as Single Window Operators.

The Institute of Banking Personnel Selection presents enormous opportunities for candidates for their career growth. Along with a lucrative IBPS Clerk salary, they also receive chances and opportunities to step up to higher posts and soar with success. You can track your career path by moving ahead in the selection process.

After becoming an IBPS clerk, you will get multiple chances to get promoted to a higher level. Most bank aspirants want to become officers. All the candidates who wish to get a promotion from clerk to Officer need to apply for the promotion test and appear for the examination as well and also undergo their service for at least 2 years to be eligible for promotion to Officer.

IBPS Clerk Salary - Types of Promotions

The promotions are conducted every 2 years and clerks have the opportunity to take part in it and are eligible for promotion to Officer. There are two processes for clerical to Officer Promotion:

1. Normal process
2. Merit basis process

These two processes are applied to individual candidates depending on their performance and experience in banking services.

(1) Under the Normal process, the employee (bank clerk) has to qualify for a written exam and based on his experience and seniority in the services of the bank, he can be selected as Officer. In this process no JAIIB and CAIIB diplomas are compulsory. After clearing this exam, you will become a Trainee Officer (TO). Trainee Officers can later become Probationary Officers (PO).

(2) Merit basis process: Two-year service (minimum) as a clerk with a JAIIB and CAIIB diploma conducted by the Indian Institute of Banking and Finance (IIBF) is a must with a graduate/post-graduate degree.

After becoming Probationary Officers (PO) there are seven scales in officer cadre:

• 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.

Consistent efforts can help candidates get promoted on this career scale at a quicker pace. We hope our post regarding IBPS Clerk Salary was informative and helped you to get a better overview of the salary, job profile, and career growth for IBPS Clerk.