IBPS Clerk Salary – Checkout IBPS Clerk Promotion & Other Benefits

IBPS Clerk Syllabus 2019: Institute of Banking and personnel selection has released the official notification for the IBPS clerk recruitment. Many candidates will have a common question that ‘What is the salary of IBPS clerk?’ This article will clear all your doubts about the IBPS clerk salary and other associated details. The IBPS clerk salary in hand is a high number and so the candidates are focusing this exam with full dedication. Also, periodic increments, allowances, and promotions are available for an IBPS clerk. So you have to work hard to grab this wonderful job.

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Salary Structure
Job Profile
In-Hand Salary and Increments

IBPS Clerk Salary 2019 Structure in Details

The IBPS clerk salary slip 2019 will have the following facilities as given in the table.

IBPS Clerk Salary 2019 in Hand and Perks

Facilities Places with Population > 45 lakhs Below 45 Lakhs
Basic Pay Rs.11765 Rs.11765
Special Allowance Rs.911 Rs.911
DA Rs.5311 Rs.5311
Transport Allowance Rs.425 Rs.425
Total (without HRA) Rs.18413 Rs.18413
HRA Rs.1176 Rs.1058
Gross with HRA Rs.19589 Rs.19472

 

IBPS Clerk Job Profile:

After clearing the IBPS clerk mains exam, you will get the provisional allotment order. Then you will be joining as clerk in a public sector bank. The clerk is also known as the single window operator. The work profile of an IBPS clerk includes the following,

  • Solving the queries related to the customers approaching the branch.
  • Account opening activities, Handling cash, issuance of cheque books.
  • Marketing the products of the bank and explaining its features to the customers.
  • Daily balance record maintenance, receipts collection, ledger maintenance, data entry works and holding the important bank keys.
  • passbook entry works.
  • Document verification and checking the proofs of the customers for important and needed activities.

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Growth Opportunity of the IBPS Clerk:

After working continuously for 3 years, you will get the promotion for the Probationary officer post. Also, you can achieve promotions by writing various certificate examinations such as JAIIB or CAIIB. You can be promoted to probationary officer or the assistant manager post after clearing those exams.

IBPS Clerk Salary in Hand and Increments:

The minimum basic pay of an IBPS clerk is Rs.11765. After the increments, the maximum basic pay of the IBPS clerk will become Rs.31540. Your IBPS clerk salary after 5 years will be a huge number. The increments of the IBPS clerk are given below,

  • Initial basic pay will be Rs.11765, with an annual increment of Rs.655 for 3 years.
  • After 3 years basic pay is Rs.13730. The annual increment is Rs.815 for another 3 years.
  • Again after 3 years, the basic pay is Rs.16715. Then the annual increment is Rs.980 for  4 years.
  • After the end of 4 years, the basic pay becomes Rs.20095. Then the annual increment of Rs.1145 for 7 years is given.
  • After 7 years, the basic pay is Rs.28110, with a yearly increment of Rs.2120 for the next one year.
  • Then the basic pay reaches Rs.30230, with an annual increment of Rs.1310 for another one year.
  • Finally, the basic pay comes to the maximum limit of Rs.31540.

IBPS Clerk Allowances:

Besides the IBPS clerk salary 2019 in hand, there will be various allowances. The allowance details are given below,

  • Dearness allowance (DA) – The dearness allowance will be 4% of the basic pay. The value of the dearness allowance will vary according to the Consumer Price Index (CPI). It is notable that for every 3 months the consumer price index will be revised
  • Housing Rent Allowance (HRA): It will be in the range of 7% to 9% of the basic pay. It may vary according to the place of posting.
Cities HRA%
Metro Cities 8.5
Cities With Population More Than 5 Lakhs 7.5
Other Cities 6.5
  • Medical allowance – Rs.2000 per annum is the fixed amount provided as the medical allowance for the IBPS clerks.
  • Special Allowance – It will be 7.5% of the basic pay. After one year it will have an increment in the range of Rs.400 to 500.
  • Travel Allowance – The travel expenses will be reimbursed by the bank.

IBPS Clerk Promotion Levels:

The IBPS clerk will get the promotion in the following order,

  • Clerk- Scale 1
  • PO/ Assistant Manager- Scale 2
  • Manager- Scale 3
  • Senior Manager- Scale 4
  • Chief Manager- Scale 5
  • Assistant General Manager- Scale 6
  • Deputy General Manager- Scale 7
  • General Manager- Scale 8

With a good salary and excellent career growth, the IBPS clerk is the most wanted job for the banking aspirants.

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