IBPS Clerk Salary Notification 2024: Know More About Salary Structure, Allowances, Job Profile

The Institute of Banking Personnel Selection (IBPS) offers a lucrative salary package for Clerical Cadre posts in various public sector banks. This attractive remuneration, benefits, incentives, and perks, is a significant reason why thousands of candidates apply for the IBPS Clerk exam every year. The salary of an IBPS Clerk increases gradually with promotions to higher levels. This article provides a detailed overview of the IBPS Clerk Salary, its structure, and associated benefits.

IBPS Clerk Salary Notification 2024

The starting salary for an IBPS Clerk is Rs 19900 per month. The pay scale is structured as follows: Rs.19900-1000/1-20900-1230/3-24590-1490/4-30550-1730/7-42600-3270/1-45930-1990/1-47920. This means that the salary increases at a defined rate over the years.

Here is a quick overview of the IBPS Clerk Salary 2024:

Salary Structure

The initial salary package for an IBPS Clerk ranges from Rs. 28,000 to Rs. 30,000 per month upon joining, with a starting basic pay of Rs. 19,900. After the training period, various perks and additional benefits are included, which can vary between banks.

Here is the detailed salary structure for an IBPS Clerk in 2024:

IBPS Clerk Salary Pay Scale 2024

The salary of an IBPS Clerk is the sum of the basic pay and other allowances such as HRA (House Rent Allowance) and Dearness allowances. The first basic pay for an IBPS Clerk is INR 19,900. The pay scale is structured as follows: INR 19900-1000/1-20900-1230/3-24590-1490/4-30550-1730/7-42600-3270/1-45930-1990/1-47920. The minimum basic IBPS Clerk salary is INR 19,900 while the maximum is INR 47, 920.

Here is the detailed pay scale for an IBPS Clerk in 2024:

Salary Slip

The salary slip of an IBPS Clerk provides a comprehensive breakdown of the initial salary details for those who have recently joined the position. Any modifications in the salary are determined by the respective authorities. The salary slip also outlines the deductions, enabling candidates to calculate their final net salary. The gross salary of an IBPS Clerk is the sum of the basic pay and various allowances. Once all the relevant deductions are subtracted, candidates can ascertain the net salary they will be taking home.

Salary Allowances

IBPS Clerks might qualify for additional perks based on their posting location. The total compensation for an IBPS Clerk comprises not only the salary but also extra benefits like Travel Allowance (TA), Dearness Allowance (DA), and House Rent Allowance (HRA).

Here is more information on the IBPS Clerk salary 2024 allowances:

Salary and Allowances Variations Based on Location

The salary and allowances of an IBPS Clerk can vary based on the location of posting. Here is a table to understand the variations in IBPS Salary and Allowances according to different locations:

Job Profile

The role of an IBPS Clerk is multifaceted, involving a range of responsibilities and tasks. Despite the appealing benefits, allowances, and salaries, it’s a demanding position. The job includes accounting duties and involves customer service, handling cash, and advising customers. As the first point of contact for banking-related queries and concerns, an IBPS Clerk often plays the role of a Single Window Operator.

Here are the key job responsibilities of an IBPS Clerk:

• Maintaining ledgers and collecting bank receipts
• Handling the details of daily closures
• Updating Passbooks for account holders at counters
• Printing receipts for cheques and demand drafts
• Safeguarding bank keys and safe keys
• Serving as an information counter for customers
• Managing the deposit and withdrawal of cash
• Verifying various documents and proofs submitted by customers
• Taking responsibility for bank cash, important documents, keys, etc.
• Sanctioning withdrawals by customers
• Maintaining various bank documents, including balance sheets and ledgers
• Resolving various issues faced by customers
• Issuing Demand Drafts (DDs), opening bank accounts for customers, and providing cash receipts
• Providing information about the latest schemes and government policies
• Guiding customers on various banking activities
• Attending to treasury works
• Resolving queries of customers
• Performing miscellaneous tasks as required

IBPS Clerk Promotion

The role of an IBPS Clerk provides substantial prospects for career progression and elevation within the banking sector. It enables individuals to acquire invaluable experience and showcase their potential and worth in the banking field. To qualify for promotions, a clerk generally needs to complete a minimum service period of 3 years, although this requirement may be 2 years in some banks. The promotion can be achieved through two distinct processes:

• Normal/Seniority Process:
  • Promotions are based on experience and seniority.
  • Banks conduct internal written exams for eligible candidates.
  • After successfully passing the exam, IBPS Clerks can be promoted to the role of Trainee Officers and then to Bank Probationary Officers (POs).
• Merit-Based/Fast Track Process:
  • This is an accelerated promotion process.
  • Candidates must possess JAIIB (Junior Associate of the Indian Institute of Bankers) and CAIIB (Certified Associate of the Indian Institute of Bankers) diplomas.
  • These diplomas are awarded by the Indian Institute of Banking and Finance (IIBF).

Abhilash

Abhilash, an exam specialist with a passion for education, writes comprehensive articles on exam results and admit cards. His expertise ensures students receive reliable information and useful tips to excel in their exams.