IBPS Clerk Salary 2022: The Insitute of Banking Personnel Selection (IBPS) will conduct the IBPS Clerk exam on August 28 and September 3 and 4, 2022. The most attractive thing about the IBPS Clerk exam is the salary which the candidates will get once they are selected for the job. The initial IBPS Clerk salary package ranges between Rs. 19,000- and 22,000/- per month. Such a variety of benefits is the primary reason why lakhs of candidates apply for IBPS Clerk recruitment every year.
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IBPS hires clerks to fill positions in various national Public Sector Banks (PSBs). Candidates appearing for the IBPS Clerk 2022 must know the IBPS Clerk salary details and enhance their preparation to get the job. Read this article to know the complete details about IBPS Clerk in-hand salary, pay scale, job profile, responsibilities, and career growth.
IBPS Clerk Salary Structure 2022
The IBPS Clerk Salary structure includes the basic pay and other allowances like HRA, DA, TA, etc. The salary varies for employees based on their posted city. Check the table below to know the salary structure and the breakdown details of an IBPS Clerk.
Location-wise IBPS Clerk Salary
Population Greater Than 45 Lakhs
Population Lesser Than 45 Lakhs
House Rent Allowance
The banking sector in India has been rapidly growing in the past few years. Banks are competing to attract talented youth with attractive salary packages. IBPS Clerk is one of the most sought-after posts among banking aspirants. The current IBPS Clerk basic pay is Rs.11,765/-. This does not include the other benefits that a clerical cadre employee receives, like HRA, TA, DA, etc.. All the necessary details will be mentioned in the IBPS Clerk salary slip. This article discusses the salary of IBPS Clerks along with their benefits, pay scale, and career growth prospects. Read on to find out more.
IBPS Clerk Pay Scale
The IBPS Clerk appointee gets an initial salary package of about Rs. 28,000 to Rs. 30,000/- per month as per the 7th pay commission matrix. This salary includes Dearness Allowance and similar benefits. The present IBPS Clerk Pay Scale is Rs.19900-1000/1-20900-1230/3-24590-1490/4-30550-1730/7-42600-3270/1-45930-1990/1-47920. We have broken down this pay scale for better understanding in the table below:
Number of years
Initial Basic Pay
Basic Pay and yearly increment after 1 year
Basic Pay and yearly increment after the next 3 years
Basic Pay and yearly increment after the next 4 years
Basic Pay and yearly increment after the next 7 years
Basic Pay and yearly increment after the next 1 year
Basic Pay and yearly increment after the next 1 year
Rs 47920 (maximum Basic Pay)
IBPS Clerk Allowances
In addition to the Basic Pay, IBPS Clerks are entitled to other allowances, calculated based on posting location and other factors. Adding all these allowances/components with the Basic Pay will give you the total salary.
The different allowances are tabulated below:
Allowances of an IBPS Clerk
Initially, the Special Allowance is 7.5% of the Basic Pay. After completing one year of service, Special Allowance will be increased by Rs 400 to Rs 500.
Dearness Allowance (DA)
This component is 4% of the IBPS Clerk Basic Pay. DA depends on the CPI and is revised quarterly, i.e., every three months.
House Rent Allowance (HRA)
The HRA depends on the location of the posting. It will be 8.5%of the Basic Pay for Metro Cities, 7.5%of the Basic Pay for cities with more than 5 lakhs, and 6.5%of the Basic Pay for other cities.
The bank will reimburse expenses on official tours and travels.
This is paid once a year. For IBPS Clerks, the amount is fixed at Rs 2000.
IBPS Clerk Job Profile
IBPS clerks are the face of the bank as they have to deal with customers daily. Apart from the decent salary, the job offers great scope to learn about bank functions. IBPS Clerks are also known as single-window operators, who have to sit at a single-window counter and deal with the customers. Clerks act as the point of contact for the customers. IBPS Clerks fulfil the roles of a wide variety of posts, working in the bank’s various departments. They work as Loan Clerks, Accounts Clerks, Data Entry Clerks, Office Clerks, etc. The various roles and responsibilities of IBPS Clerks are as below.
IBPS Clerk Roles and Responsibilities
Verification of different documents and proofs submitted by the customer 2. Updating the passbooks of account holders 3. Responsible for bank cash, various important documents, keys, etc. 4. Issuing demand drafts (DDs), customer bank accounts, cash receipts, etc. 5. Sanctioning the withdrawals made by customers 6. Maintaining the various documents of the bank, balance sheets, ledger, etc. 7. Resolving the various issues of the customers 8. Providing information about the latest schemes and government policies 9. Guiding customers relating to various banking activities 10. Attending to treasury works 11. Resolving queries of the customers 12. Miscellaneous tasks
IBPS Clerk Promotions
As mentioned above, IBPS Clerk offers great chances of growth at personal and professional levels. As a bank clerk and learning how banks function, you will get ample scopes to prove your potential and merit. IBPS Clerk promotion is performance and contribution to the organization, you will get a chance to grow. The career trajectory of an IBPS Clerk is as follows:
Officier/ Assistant Manager
Asst. General Manager
Deputy General Manager
IBPS Clerk Promotion Process
IBPS Clerks have to work for a minimum period of 2 years before they can apply for promotions. Hereafter, they will get a chance to get promoted once every two years. Promotions are given the following two processes:
Normal Process is where IBPS Clerks are given promotions based on their experience and seniority. However, they will have to clear the written exam conducted internally. Candidates who get promotions through this process don’t need JAIIB and CAIIB Diploma. After clearing the written exam, the Clerks become Trainee Officers and then Bank Probationary Officers (PO).
Merit-Based Process requires the candidates to hold JAIIB and CAIIB diplomas from the Indian Institute of Banking and Finance. Then they are directly appointed as Bank Probationary Officers (PO).
FAQs on IBPS Clerk Salary
Here, we have enlisted some of the frequently asked questions related to the IBPS Clerk job profile and salary. Candidates must read these questions and answers to clarify their doubts about the same.
Q1. What is the basic pay for an IBPS Clerk? Ans: The minimum basic pay of an IBPS clerk is Rs. 19,900/- and the maximum goes to Rs. 47,920.
Q2. How much is the IBPS Clerk salary in hand? Ans: The in-hand salary for an IBPS Clerk at entry-level varies from Rs.19,000/- to Rs.20,000/- per month. However, the salary increases with the years in service.
Q3. What is the job profile of an IBPS Clerk? Ans: The main responsibility of a Clerk in IBPS is documentation and back-office work. The responsibilities also include: verifying documents, countersigning cheques and drafts.
Q4. How does an IBPS Clerk get promoted to a higher level? Ans: An IBPS Clerk gets promoted through two methods: Normal/ Seniority process OR Merit-based/ Fast track process.
Q5. What other allowances does an IBPS Clerk receive apart from the salary? Ans: Apart from the salary, IBPS Clerk gets allowances such as DA, HRA, Medical, Travel, and Transport Allowances.
Now that you know IBPS clerk job description and promotions, you can motivate yourself and give your best shot in the exam. Go through the IBPS Clerk Syllabus and IBPS Clerk Exam Pattern. Make sure you finish everything thoroughly. Then take IBPS Clerk mock tests to see how you are doing. Work on your weaknesses after every test. You can take IBPS Clerk Mock Tests on Embibe for free. Taking these tests and making proper use of the personalized feedback of Embibe will help you improve your score by up to 25% in just two tests. So, what are you waiting for?
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