IBPS Clerk Salary - Full details with Job Profile and Growth

 

The most common yet important question when applying for a job is, WHY should I apply for this job? In this case, IBPS Clerk! The answer is quite simple:

The IBPS Clerk Salary is the foremost reason that compels candidates to opt for the banking sector. The selected candidates are offered a lucrative salary and enjoy various benefits. 

This article will serve as a complete guide about the job profile as well as the salary of an IBPS Clerk. 

IBPS Clerk Job Profile

Also known as a Single Window Operator, a Bank Clerk provides all the general services of the bank to the customers. The role of a bank clerk is quite exhaustive as it is not limited to a single type of duty/ service. 

The following are some of the services that an IBPS Clerk provides to the customers: 

• Cash deposits and withdrawals

• Maintaining record of daily balances

• Payment clearance

• Issuing chequebooks

• Data entry, maintenance of bank ledgers, issuance of ESI stamps

• Issuance and updation of passbooks 

• Marketing of products such as loans, mutual funds, deposits, and insurance too. 

• Resolution of customer complaints and queries etc. 

With the ever growing competition from private sector banks as well as within the public sector banks, Bank Clerks are now assigned to many marketing and sales profiles too. Though the job of a Bank Clerk is secure from lay-offs, poor sales performance may affect the internal appraisals. 

IBPS Clerk Promotion and Growth

A bank clerk has multiple opportunities to get promoted. A candidate who wishes to get promoted to an officer, needs to have completed a minimum of 2 years before they become eligible for promotion. The candidates are expected to appear for a test as well as an interview for the same.

A candidate can is eligible for a promotion based on either of the 2 ways:

Normal Process- Under this process, a candidate is expected to qualify the written exam. The candidate’s seniority is also considered while assessing him/her. In this case, JAIIB and CAIIB are not compulsory and the candidate can be promoted to a Trainee Officer (TO). He can later be promoted to a Probationary Officer (PO).

Merit basis Process- A candidate is eligible only if he has served 2 years in the Bank and has cleared both- JAIIB as well as CAIIB exams along with a graduate/ post graduate degree. 

After being promoted to a PO, the growth scale looks like:

Scale I	Officer/ Manager
Scale II	Manager
Scale III	Sr. Manager
Scale IV	Chief Manager
Scale V	Asst. General Manager
Scale VI	Deputy General Manager
Scale VII	General Manager

IBPS Clerk Salary

The annual salary of a Bank clerk will be between Rs.2,50,000/- to Rs.2,60,000/-. 

It is to be noted that the salary of employees differs depending on the city they are posted at. This means that the salary of an employee posted in a metropolitan city will be more than that of an employee in a rural location.

Let us understand the salary break-up in detail. 

Salary Component	Population More than 45 Lakhs (in Rs.)	Population Less than 45 Lakhs (in Rs.)
Basic Pay	11,765	11,765
Dearness Allowance	5,311	5,311
Travel Allowance	425	425
Special Allowance	911	911
House Rent Allowance	1,176	1,058
Total IBPS Clerk Salary	19,588	19,470

Addition Benefits and Perks 

An IBPS Clerk is eligible to the perks and allowances in accordance with the directives of the IBPS. 

Special Allowance	Rs.1,561/-
Dearness Allowance (DA)	4 percent of Basic Pay. Depends on the CPI and is revised quarterly DA starts with Rs.7,073/-
House Rent Allowance (HRA)	Depends on the location of the posting. Maintained between 6.5% to 8.5% depending upon the location of the posting.
Travel Allowance	Official tours and travels expenses will be reimbursed by the Bank.

Hoping that this article was insightful and has helped you clear your doubts, we would appreciate it if you could leave us a feedback in the comments section to help us serve you better. 

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