IBPS Clerk Salary 2023, In Hand Salary, Job Profile & Promotion
IBPS Clerk Salary 2023: The Institute of Banking Personnel Selection (IBPS) provides information about the IBPS Clerk salary 2023 in the IBPS Clerk notification. IBPS offers a variety of jobs in addition to the highest paying jobs. IBPS offers a very handsome salary to the IBPS Clerks 2023 which makes this one of the most demanded exam. IBPS has been offering high wages to Clerical Cadre postings along with a variety of perks, incentives, and benefits, which is the main reason why every year lakhs of aspirants apply for IBPS Clerk Recruitment. Those who aspire to work in banking desire to know every aspect of IBPS Clerk salaries and benefits. This article has discussed the basic compensation, in-hand salary, job profile, responsibilities of a clerk, and career progress of an IBPS Clerk 2023.
IBPS Clerk Salary 2023
The Institute of Banking Personnel Selection pays its employees competitive salaries based based on the place of posting. IBPS Clerk employees receive additional bonuses and benefits in addition to their pay. The IBPS Clerk Notification 2023, giving all banking aspirants a perfect opportunity who weren't successful last year or who intend to take the coming exam. The information provided in the article is relevant to banking candidates who intend to apply for IBPS Clerk 2023 and are interested in learning more about IBPS Clerk salaries and career advancement.
IBPS Clerk Salary Structure 2023: Revised
IBPS Clerk Salary is Rs. 19900-1000/1-20900-1230/3-24590-1490/4-30550-1730/7-42600-3270/1-45930-1990/1-47920, according to the IBPS Clerk notification 2023. Hence, the monthly in-hand salary for an IBPS Clerk may range from Rs. 28,000 to Rs. 30,000. The table below provides a brief overview of the IBPS Clerk Pay Structure that will be provided to those chosen for the IBPS Clerk 2023–24 Recruitment.
| IBPS Clerk Salary Structure 2023 | |
|---|---|
| Basic Pay | Rs. 19,900 |
| Dearness Allowance (DA) | Rs. 5209.82 |
| Special Allowance | Rs. 4118 |
| Transport Allowance | Rs. 757.08 |
| CCA | Rs. 0 |
| House Rent Allowance (HRA) | Rs. 2039.75 |
| Gross Pay | Rs. 32,024.65 |
| Deduction (NPS Fund, Union Fee) | Rs. 2570.98 |
| Net Pay | Rs. 29453.67 |
IBPS Clerk Mains Result 2023 Out - Click Here
IBPS Clerk Pay Scale 2023
IBPS Clerk's starting salary package is in the range of Rs. 28,000 to Rs. 30,000 per month, which also includes the Dearness Allowance, Special Allowance, House Rent Allowance (HRA) and other benefits. The salary range for IBPS Clerks is Rs. 19900-1000/1-20900-1230/4-30550-1730/7-42600-3270/1-45930-1990/1-47920.
An IBPS clerk base salary ranges from Rs. 19,900 (the minimum) to Rs. 47,920 (the maximum).
IBPS Clerk Salary: Other Compensations
Along with the IBPS Clerk salary 2023, the candidates who are preparing for IBPS Clerk 2023 exam are also eligible for a wide range of other benefits that adds up the value to the job. Get full information on the IBPS Clerk salary 2023 through the illustrated information, and learn more about the job description. Look at the allowances the candidates received to fully understand the IBPS Clerk salary 2023 and other important information. Here is a brief explanation of the allowances in addition to basic pay:
Dearness Allowance (DA): 4% of the basic pay goes for DA. DA is revised every three months, and is based on the CPI.
House Rent Allowance (HRA): The HRA is depends on the posting's location. It amounts to 8.5% of the Basic Pay for Metro Cities, 7.5% of the Basic Pay for cities with a population over 5 lakh, and 6.5% of the Basic Pay for other cities.
Travel Allowance: The bank will pay for the official trips and tours.
Special Allowance: This fee is fixed at Rs. 4118 for IBPS Clerk 2023.
Medical Allowance: The payment is fixed at Rs. 2000 for IBPS Clerk 2023. Once a year, medical allowance is given.
IBPS Clerk Salary 2023 Increments
The Institute of Banking Personnel Selection (IBPS) regularly offers incentives on the IBPS Clerk salary. The IBPS Clerks salaries are increased by the incentives that are given to candidates on a regular basis. Look at the chart as shown below to see the details of the IBPS Clerk salary increments.
| IBPS Clerk Salary 2023 and Increments | |
|---|---|
| IBPS Clerk 2023 Initial Basic Pay | Rs. 19,900 with a yearly increment of Rs. 1000 |
| IBPS Clerk 2023 Basic Pay After 3 Years | Rs. 20,900 with a yearly increment of Rs. 1230 for the next three years |
| IBPS Clerk 2023 Basic Pay After the next 3 years | Rs. 24,590 with a yearly increment of Rs. 1490 for the next four years |
| IBPS Clerk 2023 Basic Pay After the next 4 years | Rs. 30,550 with a yearly increment of Rs. 1730 for the next 7 years |
| IBPS Clerk 2023 Basic Pay After the next 7 years | Rs. 42,600 with a yearly increment of Rs. 3270 for the next one year |
| IBPS Clerk 2023 Basic Pay after the next 1 year | Rs. 45,930 with a yearly increment of Rs. 1990 for the next one year |
| IBPS Clerk 2023 Basic Pay After next 1 year | Rs. 47,920 (Maximum Basic Pay) |
IBPS Clerk 2023 Job Profile
The candidates must be well aware about the job role as well as the IBPS Clerk Salary 2023. IBPS Clerk is an entry-level position that provides a variety of opportunities and learnings. As you gain knowledge, opportunities will present themselves that will lead to early progress.
The roles and responsibilities in IBPS Clerk 2023 Job Profile are explained below:
1. Banking Document Verification
2. Acceptance of customer withdrawals
3. Updating account holder passbooks
4. Addressing and resolving variety of client complaints
5. Providing consumers with advice on various banking activities
6. Providing information about the newest programmes and government initiatives
7. In charge of keys, responsible for various critical documents, bank funds, etc.
8. Maintaining the Bank's various records, such as the ledger and balance sheets
9. Issuing of Demand Drafts (DDs), open bank accounts for the customers, provide cash receipts, etc
IBPS Clerk Career Growth & Promotions
Bank Clerk → Assistant Manager/Officer → Manager → Senior Manager → Chief Manager → Assistant General Manager → Deputy General Manager → General Manager
IBPS Clerk offers stable work, a solid wage, and a variety of opportunities for advancement in the banking industry. Based on the performance, promotion and growth are extremely desirable. To be eligible for a promotion, you must have served for at least two years. IBPS Clerks are promoted once every two years after working for two years. The following two procedures are used to award promotions:
Normal Process: Promotional candidates who go through this process are not required to have JAIIB and CAIIB diplomas. IBPS Clerks are promoted based on their seniority and experience, and an internal written exam is held. After passing the written test, you can rise to the positions of IBPS Clerk, Trainee Officer, and Bank Probationary Officer (PO).
Merit-based Process: With a bachelor or post-graduate degree, you must have at least two years of experience working as a clerk and possess the JAIIB and CAIIB diplomas conducted by the Indian Institute of Banking and Finance (IIBF). Candidates for the merit-based process must hold JAIIB and CAIIB diplomas from the Indian Institute of Banking and Finance.
IBPS Clerk Salary: FAQs
The IBPS Clerk starting salary is Rs. 19,900 with a yearly increment of Rs. 1000.
The basic pay of IBPS Clerk base salary ranges from Rs. 19,900 (the minimum) to Rs. 47,920 (the maximum).
IBPS Clerk in-hand pay ranges from Rs. 28,000 to Rs. 30,000 per month.
The salary of IBPS Clerk after 1 year is Rs 45,930.
The IBPS Clerk Salary Structure as mentioned in the notification is Rs.19900-1000/1-20900-1230/3-24590-1490/4-30550-1730/7-42600-3270/1-45930-1990/1-47920.
The IBPS Clerks additional benefits receive a base wage as well as Dearness Allowances (DA), Home Rent Allowances (HRA), Medical Allowances, Travel Allowances, Furniture Allowance, etc.
The IBPS Clerk salary after 3 years is Rs. 20,900 with an annual increment of Rs. 1230 for the next three years.
The IBPS Clerk salary after 10 years is Rs. 30,550 with an annual increment of Rs. 1730 for the next seven years.