IBPS Clerk Salary Structure, Allowances & Other Benefits 2019
In India, the banking sector is one of the sectors in which most of the graduates are placed as an officer cadre as well as in clerical. It has always been the most popular job among recent graduates. Every year, the Institute of Banking Personnel Selection conducts the recruitment exam for the recruitment of clerks in various public bank sectors. The clerk of IBPS gets a decent salary. Along with the salary, there are various opportunities for the clerk to learn and to grow in his job. He or she has to deal with the day to day queries of the customers and provide them information about the various formalities and solve various challenges faced by them.
There are various departments of the banks in which they are allotted; such as loan clerks, account clerk, office clerk, data entry clerk, and various others. There are various duties that must be performed by these clerks such as issuing and updating the passbooks of account holder; verify the various documents; maintaining the documents such as ledger, balance sheets; issuing of the demand drafts; verify the proof submitted by the customer; sanctioning of withdrawals by the customers; resolves the queries of the customer; attending to treasury works; miscellaneous tasks and provides the information about the latest scheme and various others.
IBPS clerk salary structure:
The IBPS clerk salary structure is explained below:
The basic salary of the clerk of an IBPS is almost 11,765 rupees and the pay scale of the clerk on IBPS is 11765-655/3-12730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230/1310-1-31540. Thus, the initial salary of the clerk of IBPS will be 11,765 rupees which are further increased with an annual increment of 815 rupees after 3 years and becomes 13,730 rupees. After the next three years, there will be an annual increment of rupees 980 and it will become 16,175. Again, after 4 years, there will be an annual increment of rupees 1145 and the IBPS clerk syllabus salary in hand becomes 20095.
After 7 years, there will be an annual increment of rupees 2120 and the basic pay reach up to 28110. After the next 1 year, there will be an annual increment of rupees 1310 which further increases the basic pay which becomes 30230. In the next 1 year, the basic pay becomes 31540. It is the maximum basic pay of the clerk that will take another 1 year to reach.
Other allowances of IBPS clerk salary
Along with the basic pay, IBPS clerks are entitled to other allowances that depend on the location and other factors. The total IBPS clerk salary is given on the basis of basic pay and other allowances. There are various types of allowances. Some of them are given below:
- Special allowance: At the beginning of the job, the special allowances that are given to the clerk will be 7.5 % of the basic salary. But it will be increased by 400 rupees to 500 rupees after completing one year of the service.
- Dearness allowance: Initially, the dearness allowance is 4% of the basic salary of IBPS clerk that depends on the CPI. It is revised every three months i.e. quarterly.
- House rent allowance: The house rent allowance depends on the location of the job posting. For metro cities, it will be 8.5 % of the basic salary; for cities having a population of more than 5 lakhs, the allowance will become 7.5 % of the basic salary and for other cities, this allowance will be the 6.5 % of the basic salary.
- Travel allowance: The bank will be reimbursing the expenses which are made on official tours and travels.
- Medical allowance: The medical allowance is fixed for the IBPS clerk and it is paid only once in a year. The amount of the medical allowance is rupees 2000.
After qualifying the test and being selected for the post of clerk, there is a fruitful career in the public sector banks. Firstly, you will be in a training period to understand the duties, roles, and responsibilities of a clerk officer. After gaining these skills and experience, you will get numerous opportunities to get promoted and reach the senior post.
Around 60,000 to 70,000 clerks are appointed every year. Within a year, some of the banks encourage you on a higher level officer job. So, the delegates who joins as this job can be promoted as officers according to the norms of banks. This process can be done within a short interval of time. The promotion in IBPS banks conducted every 2 years and the clerks are also eligible for this promotion. In the officer cadre, there are several scales of promotion. Some of them are mentioned below:
- Assistant/ officer manager
- Senior manager
- Chief manager
- Assistant general manager
- Deputy general manager
- General manager
There are two processes for the promotion from a clerical to the officer that is applied to individual candidates depending on their experience and performance in the banking services. These processes are given below:
- Merit-based process: In this process, there must be a minimum two-year service as a clerk having a JAIIB and CAIIB diploma along with a graduate/ post-graduate degree. On this basis, the clerk will get promoted to the officer.
- Normal process: In this process, the clerk has to qualify the written exam depending on his experience and seniority in the service of the bank. After qualifying, the clerk will become a trainee officer and then become a probationary officer. There is no compulsion of the JAIIB and CAIIB diploma.
For all this, you will need to clear the IBPS clerk’s mains exam conducted by IBPS. You will be selected as a clerk after qualifying this test, and there are various benefits of doing this such as:
- You will get the promotion for the probationary officer post after working continuously for 3 years.
- By writing various certificate examinations like CAIIB and JAIIB, you can achieve promotions.