IBPS Clerk Salary In Hand 2023: Salary Slip, Perks and & Allowances

IBPS Clerk Salary 2023

Candidates who are selected as Clerks in IBPS get a lucrative IBPS Clerk salary along with several perks and allowances. Due to a great pay scale, lakhs of candidates are motivated to join as IBPS Clerk. The basic pay for an IBPS Clerk is Rs. 19,900/-  In addition to getting a great salary package, the candidates also receive a dearness allowance and get promoted to higher levels. Before beginning your preparation for the IBPS Clerk exam 2023, it is crucial to know the details about the IBPS Clerk salary and job profile that will keep you motivated throughout your preparation for the exam. 

In this post, we have shared the details of the basic pay for IBPS Clerk, perks and allowances, promotion, job profile etc. You can also check the IBPS Clerk salary slip for your reference as well. 

Check: IBPS Clerk Application Form

IBPS Clerk Salary Structure

As per the IBPS Clerk notification, 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 makes the IBPS Clerk in hand salary to be around Rs. 28,000 to Rs. 30,000/- The IBPS Clerk basic pay is Rs. 19,900 while they are given a special allowance of Rs. 4,102. Check the IBPS Clerk salary component below in the table. 

IBPS Clerk Salary Increment

All the candidates who are appointed to the post of IBPS Clerk are given a salary increment at regular time intervals. The initial basic pay will be Rs. 19,900 with a yearly increment of Rs. 1000/- The year wise IBPS Clerk salary increment is given in the table below. 

What is the salary of IBPS Clerk after 5 years?

IBPS Clerk salary after 5 years is a handsome package that is given to the candidates who complete five years in the Clerical post. The increase in salary is mainly due to the hike in basic pay and allowances given to the candidates. The details of the IBPS Clerk salary after 5 years is given below here. 

• IBPS Clerk salary after 5 years (basic pay) - Rs.24590
• In hand IBPS Clerk maximum salary after 5 years - Rs.36000 (approximately)

IBPS Clerk Salary Slip

The IBPS Clerk salary breakdown will help you understand the salary deductions and allowances that are given to the candidates. Here we are providing you with the IBPS Clerk salary slip for better insight. This will be useful to understand the earnings and additional benefits that are given to the candidates. 

IBPS Clerk Salary Perks and Allowances

Any candidate who is appointed to the post of IBPS Clerk is given several perks and allowances. The allowances given to an IBPS Clerk is something which fascinates every banking aspirant. Check the following given allowances to IBPS Clerk. 

Dearness Allowance (DA): An IBPS Clerk receives DA of 4% of the basic pay. The DA is revised every three months and is dependent on the CPI. 

House Rent Allowance (HRA): The HRA depends on the location of the candidate’s job posting. For metro cities, the HRA is higher while for less populated cities, it is comparatively lower. 

Travel Allowance: The candidates appointed as IBPS Clerk are paid for the official tours and travels that are later reimbursed by the bank. 

Medical Allowance: The medical allowance is paid once a year to the candidates which is a fixed amount. 

What is IBPS Clerk Job Profile?

Candidates are appointed to the Clerical post in IBPS through the IBPS Clerk exam. As an IBPS Clerk, one has a very important part in everyday banking operations. They are required to interact with the customers to resolve their queries. They act as a bridge between the bank and its customers. The important functions of an IBPS Clerk are as follows: 

• To verify the banking documents 
• Issue cash receipts and ESI stamps at counters 
• Issue demand drafts (DDs), bank accounts to the customers
• Maintain balance sheet, ledger and related documents
• Attend Government treasury works
• Update the passbook of the customers
• Be a safe custodian of the bank cash, keys, important paper documents and other valuable items 
• Provide information about the latest schemes and government policies

IBPS Clerk Promotion, Career Growth

Candidates who are appointed as IBPS Clerk have great career growth opportunities. After joining as a Clerk, they are promoted to the post of Officer/Assistant Manager and later to the post of Manager. The hierarchy of growth is given below here: 

Bank Clerk → Officier / Assistant Manager → Manager → Senior Manager → Chief Manager → Assistant General Manager → Deputy General Manager → General Manager

IBPS Clerk Promotion: How are candidates promoted?

IBPS Clerk get a good salary with perks and allowances and also a great career growth option. Based on their work performance, they are given promotions and growth. To be eligible for a promotion, a candidate has to serve at least two years after which they will be promoted. The IBPS Clerk promotion is given in the following two ways: 

Normal Process: In the normal process, candidates do not require JAIIB or CAIIB diploma or certificate. The candidates are solely promoted based on their experience and seniority as well as an internal written test. Upon successful completion of the written test and qualifying it, the candidates will be promoted to the post of Trainee Officers. 

Merit based promotion: In this process, the promotion of the candidates is done for those candidates who are in possession of JAIIB and CAIIB diplomas from the Indian Institute of Banking and Finance (IIBF).

IBPS Clerk Exam related posts: