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IBPS Clerk Salary
IBPS has been offering rich wages to Clerical Cadre postings, as well as different bonuses, incentives, and advantages, which is why lakhs of applicants apply for IBPS Clerk Recruitment every year. Aspirants who wish to work in a bank want to know all about the IBPS Clerk’s pay and the benefits that the IBPS Clerk receives.
The following are the functions and responsibilities in the IBPS Clerk Job Profile:
- Verification of different customer-submitted papers and evidence
- In charge of bank funds, critical documents, keys, and so forth.
- Customers’ withdrawals are sanctioned.
- Maintaining the bank’s different papers, such as balance sheets and ledgers.
- Resolving the consumers’ various difficulties
- Demand Drafts (DDs), consumer bank accounts, cash receipts, and so forth.
- Providing information about the most current government plans and policies
- Giving consumers advice on a variety of banking operations
- Taking care of treasury tasks
- Updating account holders’ passbooks
- Resolving consumer inquiries
- Various responsibilities
Also see: IBPS Clerk Exam Analysis 2022
IBPS Clerk Salary Structure
The salary rate for an IBPS Clerk is according to the IBPS Clerk notice 2022. As a result, the monthly in-hand remuneration of an IBPS Clerk may range between Rs. 28,000 and Rs. 30,000. The table below provides an overview of the IBPS Clerk Salary Structure that will be provided to applicants selected in the IBPS Clerk 2022-23 Recruitment.
| IBPS Clerk Salary Structure 2022 | |
| 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/- |
The starting wage package for an IBPS Clerk is between Rs. 28,000 and Rs. 30,000/- per month, including Dearness Allowance and other incentives.
- The starting salary is Rs 19,900, with an annual raise of Rs 1000.
- After three years, the basic pay is Rs 20,900, with an annual raise of Rs 1230 for the following three years.
- After the following three years, the basic pay will be Rs 24,590, with an annual escalation of Rs 1490 for another four years.
- After the following four years, the basic pay will be Rs 30,550, with an annual escalation of Rs 1730 during the next seven years.
- After the following seven years, the basic pay will be Rs 42,600, with an annual escalation of Rs 3270 for the next year.
- After the following year, the basic pay will be Rs 45,930, with an annual escalation of Rs 1990.
- After next year, the basic pay will be Rs 47,920. (Maximum Basic Pay).
- The starting salary for an IBPS clerk is Rs. 19,900/-, with a maximum of Rs. 47,920.
IBPS Clerk Salary Benefits
Other than the base wage, the allowances are as follows:
- Dearness Allowance: Dearness Allowance is equal to 4% of basic pay. DA is based on the CPI and is reviewed every three months.
- House Rent Allowance: House Rent Allowance is determined by the posting’s location. It is 8.5% of the Basic Pay for Metro Cities, 7.5% of the Basic Pay for metropolitan areas of more than 5 lakhs, and 6.5% of the Basic Pay for other cities.
- Travel Allowance: The bank will compensate for official excursions and travels.
- Medical Allowance: The IBPS Clerks sum is INR 2000. A medical allowance is given once a year.
- Special Allowance: This sum is fixed at INR 4118/- for IBPS Clerk.
IBPS Clerk offers a good salary, a steady job, and several prospects for promotion in the banking industry. Promotion and progress based on performance are quite enticing. However, a minimum of two years of service is required to be eligible for a promotion. After two years of service, IBPS Clerks are promoted every two years. Promotions are distributed in two ways:
Normal process- Applicants who are advanced through this path do not require JAIIB or CAIIB degrees. IBPS Clerks are advanced depending on experience and seniority and must pass an internal written test. IBPS Clerks graduate to Trainee Officers and, eventually, Bank Probationary Officers after clearing the written exam (PO).
To be considered for the Merit-Based Process, candidates must hold JAIIB and CAIIB certifications from the Indian Institute of Banking and Finance.
What is the IBPS Clerk Exam?
The IBPS (Institute of Banking Personnel Selection) organises the IBPS Clerk test annually to fill clerical posts in 11 public sector banks throughout the country. All public sector banks utilise CRP as a starting point to staff these posts. In FY 2022-23, IBPS will administer the Clerk exam for the 12th time, named IBPS Clerk CRP XII. The IBPS Clerk exam has two parts: preliminary and main. Candidates who complete both of these exams are selected for the post. The IBPS Clerk 2022 Prelims Exam dates are August 28th, September 3rd, and September 4th, 2022.
IBPS has declared the entire number of jobs for IBPS Clerk 2022 along with the official announcement. This year, there were 6035 Clerical Cadre Posts available.
- 6035 Vacancy for IBPS Clerk 2022-23
- 7855 IBPS Clerk Vacancies 2021-22
- 2557 Vacancies for IBPS Clerks in 2020-21
- 12 075 IBPS Clerk Vacancies in 2019-20
