IBPS Clerk Salary 2023: IBPS will provide lucrative salaries to Clerical Cadre posts along with various perks, incentives, and benefits, which is the primary reason why every year lakhs of candidates rush for IBPS Clerk Recruitment. The aspirants with a dream of a bank job want to know all details of IBPS Clerk salary and the perks that the IBPS Clerk enjoys. In this article, we have covered basic pay, in-hand salary, job profile, responsibilities of a clerk, and career growth of an IBPS Clerk.
IBPS Clerk Salary 2023
As the IBPS Clerk Notification 2023 has been released on 01st July 2023this is the golden chance for all the banking aspirants who didn’t make it last year or planning to appear in the upcoming exam. The banking aspirants who are planning to apply for IBPS Clerk 2023 and are curious to know the IBPS Clerk salary structure and career growth, go through the details mentioned in the article.
IBPS Clerk Mains Exam Analysis 2023- Click to Check
IBPS Clerk Salary Structure 2023
As per the IBPS Clerk notification 2023, the pay scale of an IBPS Clerk is Rs.19900-1000/1-20900-1230/3-24590-1490/4-30550-1730/7-42600-3270/1-45930-1990/1-47920. Therefore, the in-hand salary of an IBPS Clerk may range between Rs. 28,000 to Rs. 30,000 per month. Below is the table with a glimpse of the IBPS Clerk Salary Structure that will be offered to the candidates selected in IBPS Clerk 2023 Recruitment.
| IBPS Clerk Salary Structure 2023 | |
| Basic Pay | Rs.19,900/- |
| Dearness Allowance | 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 Pay Scale 2023
The initial salary package of the IBPS Clerk is about Rs. 28,000 to Rs. 30,000/- per month that includes the Dearness Allowance and other benefits. 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
Initial Basic Pay – Rs 19,900 with a yearly increment of Rs 1000
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 next 7 years – Rs 42,600 with a yearly increment of Rs 3270 for the next one year.
Basic Pay after next 1 year – Rs 45,930 with a yearly increment of Rs 1990 for the next one year.
Basic Pay after next year – Rs 47,920 (Maximum Basic Pay).
The minimum basic pay of an IBPS clerk is Rs. 19,900/- and the maximum goes to Rs. 47,920.
Also Check SBI Clerk Revised Salary & Pay Scale 2023
IBPS Clerk Salary: Other Allowances
The allowances, other than the basic pay are explained below:
Dearness Allowance: This component is 4 per cent of the Basic Pay. DA depends on the CPI and is revised after every three months.
House Rent Allowance: The HRA is dependent on the location of the posting. It is 8.5 per cent of the Basic Pay for Metro Cities, 7.5 per cent of the Basic Pay for cities having a population of more than 5 lakhs, and 6.5 per cent of the Basic Pay for other cities.
Travel Allowance: The official tours and travels will be reimbursed by the bank.
Medical Allowance: For IBPS Clerks, the amount is fixed at INR 2000. Medical allowance is provided once in a year.
Special Allowance: For IBPS Clerk, this amount is fixed at INR 4118/-
IBPS Clerk Job Profile
Being an entry-level post, IBPS Clerk is a post that offers a lot of learnings as well as opportunities. The more you learn, the more opportunities come your way, which will take you towards early growth.
The roles and responsibilities in IBPS Clerk Job Profile are explained below:
- Verification of various documents and proofs submitted by the customers
- Responsible for bank cash, various important documents, keys, etc.
- Sanctioning of withdrawals by the customers
- Maintaining the various documents of the bank, balance sheets, ledger, etc.
- Resolving the various issues of the customers
- Issuing of Demand Drafts (DDs), bank accounts for the customers, cash receipts, etc
- Providing information about the latest schemes and government policies
- Providing guidance to customers relating to various banking activities
- Attending to treasury works
- Updating the passbooks of account holders
- Resolving queries of the customers
- Miscellaneous tasks
IBPS Clerk Promotions
Bank Clerk → Officier / Assistant Manager → Manager → Senior Manager → Chief Manager → Asst. General Manager → Deputy General Manager → General Manager.
IBPS Clerk offers a good salary, a settled job and varied options of growth in the banking sector. Based on the performance, the promotion and growth are quite attractive. However, a minimum of 2 years of service is required to be eligible for a promotion. After two years of service, IBPS Clerks gets promoted once every two years. Promotions are given the following two processes:
Normal process- Candidates who get promoted through this process don’t require JAIIB and CAIIB diplomas. IBPS Clerks are promoted based on their experience and seniority and a written exam is conducted internally. After qualification of the written exam become IBPS Clerks become Trainee Officers and then Bank Probationary Officers (PO).
Merit-based process- Merit-Based Process requires candidates to have JAIIB and CAIIB diplomas from the Indian Institute of Banking and Finance.
IBPS Clerk 2023 Syllabus & Exam Pattern- Click Here
IBPS Clerk Previous Years Cut-Offs [Check Here]
Practice with IBPS Clerk Previous Year Question Paper