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IBPS Clerk Salary 2024, Salary Structure, Perks and Allowances

IBPS Clerk Salary

The IBPS conducts examinations for various posts and positions, one of them being the clerk exam which provides an attractive salary package. A key motivating factor is the IBPS Clerk Salary 2024. Banks provide various perks and allowances in addition to Basic Pay to their clerical staff. The initial net pay shall be Rs. 30,000/- approximately. In this column, we will discuss the IBPS Clerk Salary and the benefits associated with it.

IBPS Clerk Salary 2024

The IBPS Clerk 2024 Salary could be a motivating factor for candidates who aspire to get a job in the banking sector. The basic pay of Rs 19900 per month offered to Clerks after IBPS is as per the standards set by banks. The added allowances and benefits make the overall salary truly attractive. Additionally, there are various allowances and benefits included as part of the overall IBPS Clerk salary package. Here in this post, we have covered all the information on the IBPS Clerk Salary.

IBPS Clerk Salary Structure

The initial salary package for a Clerk is Rs. 28,000 to Rs. 30,000/- per month, at the time of Joining and the starting basic pay is Rs 19,900. According to the IBPS Clerk’s official notification, The Basic Pay for an IBPS Clerk is Rs 19,900. It is the starting salary of an IBPS Clerk. After the training period, perks and other benefits are added which may vary from bank to bank.

IBPS Clerk Salary Structure 2024
Facilities/Salary Amount
Basic Pay 19900
Conveyance Allowance 757.08
Dearness Allowance 5209.82
SPL DA 4118
HRA 2039.75
Total 32024.65
Gross Salary 32024.65

IBPS Clerk Salary Slip

Now you can have a look at the latest IBPS Clerk 2024 Salary Slip. The details on salary slips may vary as per the location of the candidates

IBPS Clerk Salary 2024, Salary Structure, Perks and Allowances_3.1

IBPS Clerk Salary 2024: Deductions

While calculating the net in-hand salary there are certain deductions, some of which are statutory and some are mandatory by the organisations. The statutory deductions are Provident Fund, Contribution to NPS, etc. Other deductions such as Professional Tax, Death Relief Fund, etc. These deductions are abated from the Gross salary to arrive at Net Salary.

IBPS Clerk Salary 2024: Increments

Given below is the sum of Basic Pay that makes up the total IBPS Clerk Salary. This implies that the minimum Basic Pay for IBPS Clerk is Rs 19,900 with an increment every year

IBPS Clerk Pay Scale 2024
Basic Pay Amount
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 the next 7 years Rs 42,600 with a yearly increment of Rs 3270 for the next one year.
Basic Pay after the 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).

IBPS Clerk Allowances

IBPS Clerk is also liable to get other allowances besides salary which depends on the place of posting. These other allowances like TA, DA, and HRA are added to the salary and the total amount is what a person under IBPS Clerk gets in hand.

IBPS Clerk  Allowances
Special Allowance 7.5% of the basic pay, after completion of 1 year it may increase from 400 to 500
Dearness Allowance It is 48.51% of the basic pay which is revised quarterly
House rent allowance It depends on the posting of the location. It is highest at 8.5%in the metropolitan cities.
Travel Allowance These expenses are reimbursed by the banks(on official tours and travels only)
Medical Allowance It is 2000/per year.

IBPS Clerk Salary: Job Profile

  • Verify the documents and statements submitted by the clerk in the bank.
  • To update the bank passbook at regular intervals.
  • A clerk is also responsible for the bank cash and various documents of the bank etc.
  • He sanctions the withdrawals by the customer.
  • He maintains various statements like bank balance sheets, ledger, etc.
  • He provides information on various government schemes and resolves the issues of the customer.
  • Attending the treasury works, distribution of cash, the deposit of cash, and other miscellaneous work.

The clerk is also known as a single-window operator. They help the customer by guiding them through various rules and formalities. They act as a point of contact for customers. A clerk plays a wide variety of roles. They act as a loan clerk, account clerk, data entry clerk, office clerk, etc.

IBPS Clerk Promotion

IBPS Clerk provides ample ways for personal and professional growth. When a person works as a bank clerk he learns the different ways a bank functions and chances to prove your potential and merit. A clerk has to serve for a minimum period of 3 years before he can apply for the promotion. After that, he gets a chance to grow himself.

IBPS Clerk promotion based on experience and seniority. They have to clear a written exam which is conducted internally. The clerk gets a chance to become a trainee officer and then a Probationary officer. He doesn’t need to apply from JAIIB and CAIIB.

If a candidate is applying through JAIIB and CAIIB then he must possess a diploma from the Indian Institute of Banking and Finance.

Now, that you have an idea about the IBPS Clerk exam pattern, IBPS clerk Syllabus, and IBPS Clerk job profile and growth, there is no need to wait to start your preparation. Start them right away.

IBPS Clerk Career Growth

A clerk plays a very important role in a bank. He is the face of the bank as he deals with the customer directly, and manages all the cash. Apart from all the IBPS Clerk salary and benefits, he has an opportunity to learn a lot about banking functions.

  • Bank Clerk
  • Officer/Assistant Manager
  • Manager
  • Senior Manager
  • Chief Manager
  • Asst. General Manager
  • Deputy General Manager
  • General Manager

IBPS Clerk Salary: Know the Annual Package

The salary structure for Clerk Positions in a Bank is attractive, offering a competitive annual package. As per the latest salary revisions, various perks and allowances are provided in addition to the Basic Pay. The initial annual package for IBPS clerks ranges from Rs. 3.75 lakhs to Rs. 4.10 lakhs. It varies based on the bank policies and location of service. The annual package ensures financial stability and growth opportunities, making it an appealing career choice for banking aspirants.

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FAQs

What is the starting IBPS Clerk Salary?

The minimum basic pay of an IBPS clerk is Rs. 19,900/- and the maximum goes to Rs. 47,920.

What is the net IBPS Clerk Salary?

The net IBPS Clerk Salary is Rs.28,000-Rs.30,000 per month.

What are the Perks and allowance included in IBPS Clerk Salary?

The perks and allowances included in IBPS Clerk Salary are Medical facility, HRA, DA, etc.

What is the Job Profile of IBPS Clerk?

The Job Profile of IBPS Clerk is discussed in the given post.

What is the career growth of IBPS Clerk?

Different banks have different promotion criteria but the majority of the banks give great opportunities.

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