IBPS Clerk Salary and Promotion, Allowances, After Revision + Increment Complete Guide
What is IBPS Clerk Salary? आईबीपीएस क्लर्क की सैलरी – Institute of Banking Personnel Selection (IBPS) has already released its schedule for IBPS Clerk 2020 exam which is proposed to be held at the end of this year. Approx 8.5 lacs students will participate in this IBPS Clerk Recruitment (CWE X).
Every year many students contest for the post of IBPS clerk. Participating students are inquisitive to learn about IBPS clerk salary 2020.
Yes, IBPS clerk receives a decent sum of salary along with ample avenues to learn and grow in this job.
Candidates appearing for the exam must be pondering what the IBPS clerk salary and job profiles are?.
This is indeed a great opportunity for those who are aspiring to work in the banking and financial sector.
After discussing IBPS Clerk notification and syllabus, we are posting this article to answer your most searched query. We are talking about the salary part of banks as you all wish to know about ‘What will be the salary for IBPS Clerk?’
All candidates who are starting their Preparation of IBPS Clerk Exam they should better understand IBPS Clerk Job Profile (Responsibilities + Duties) and salary after clearing IBPS clerk exam before applying for it.
Here we discuss more on IBPS Bank Clerk salary in hand facilities, allowances, grade pay, salary after probation period, salary after 10th bipartite wage revision and 7th pay commission, etc. Mock Test Series for all Banking Exams 2020.
In this post, you will get detailed knowledge on IBPS CLERK PAY SCALE. Stay tuned till the end to learn regarding what is the in hand salary of an IBPS CLERK?
IBPS Clerk Salary Structure in detail
आईबीपीएस क्लर्क वेतन का ढाचा – After Selection of IBPS Clerk you will be held during a training period. In which you learn all necessary clerk job profile work such as Handling deposit and withdrawal cash, Payment clearance, a daily record of balance, receipts collection, ledger maintenance, and data entry works, etc.
IBPS Clerk Salary during training not more than Rs. 10000. And will differ after recruiting in various IBPS Clerk participating banks according to the bank policy. Most of the students ask these question many times such as
- What is the Salary of IBPS Bank Clerk?
- What is the Starting Salary of IBPS Clerk?
- What is the Gross IBPS Salary for Clerk?
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Note – The given table below on approximate values actual may vary for Bank Clerk Salary through IBPS. Check IBPS Clerk salary with Basic Pay, DA, HRA, Special Allowance, Transport Allowance, and Gross salary, etc.
|IBPS Clerk Salary and Perks 2020
|Facilities||Places with Population > 45 lakhs|
|Total (without HRA)||Rs.22135/-|
|Gross with HRA||Rs.23115/-|
|IBPS Clerk Online Application Form||IBPS Clerk Syllabus 2020|
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IBPS Clerk Salary and Allowances
This means the minimum Basic Pay for IBPS Clerk is Rs 13075 while the maximum is Rs 31540.
- IBPS Clerk Initial Basic Pay – Rs 13075 with a yearly increment of Rs 655 for three years
- IBPS Clerk Basic Pay after 3 years – Rs 15300 and yearly increment of Rs 815 for the next three years
- IBPS Clerk Basic Pay after the next 3 years – Rs 16175 and yearly increment of Rs 980 for the next four years
- IBPS Clerk Basic Pay after the next 4 years – Rs 20095 and yearly increment of Rs 1145 for the next 7 years
- IBPS Clerk Basic Pay after the next 7 years – Rs 28110 and yearly increment of Rs 2120 for next one year
- IBPS Clerk Basic Pay after the next 1 year – Rs 30230 and yearly increment of Rs 1310 for next one year
- IBPS Clerk Basic Pay after next year – Rs 31540 (maximum Basic Pay)
All candidates who apply for IBPS Exam 2020 for Clerk post they have to check complete details about IBPS Clerk monthly salary and Other Benefits and Perks Available to Bank Clerk (बैंक क्लर्क के अन्य लाभ और भत्ते).
A Bank Clerk is entitled to get some allowances in addition to basic pay which is the same in almost all the Public Sector Banks in India.
IBPS Clerk Salary: Other Allowances
In addition to the Basic Pay, IBPS Clerks are entitled to other allowances which are calculated based on the location of posting and other factors. Adding all these allowances/components with the Basic Pay will give you the total IBPS Clerk Salary.
The different allowances are tabulated below:
The Basic Pay Scale of IBPS Clerk is Rs 13075 – Rs 42,020. Here Rs 11,765 is the Basic pay. The main allowances that a Bank Clerk gets are the following:
- Dearness Allowance (DA): In Bank, DA is revised quarterly and is based on CPI as declared by the banks i.e. DA can go up with higher CPI and vice versa.
- House Rent Allowance (HRA): This varies according to Clerk’s place of posting. And it can be 8.50%, 7.50% and 6.50% depending on metros, big cities, and other locations.
- Medical Allowance: This allowance is paid annually. And for a clerk, it is fixed at Rs 2000.
- Transport Allowance (TA) – It is also an additional amount of IBPS Clerk take home salary.
- IBPS Clerk cash in hand salary: Rs 19521.
The different allowances are tabulated below:
|IBPS Clerk Special Allowance||Initially, the Special Allowance is 7.5 percent of the Basic Pay. After completing one year of service, Special Allowance will be increased by Rs 400 to Rs 500.|
|IBPS Clerk Dearness Allowance (DA)||This component is 4 percent of the IBPS Clerk Basic Pay. DA depends on the CPI and is revised quarterly, i.e. after every three months.|
|IBPS Clerk House Rent Allowance (HRA)||The HRA depends on the location of the posting. It will be 8.5 percent of the Basic Pay for Metro Cities, 7.5 percent of the Basic Pay for cities having a population of more than 5 lakhs, and 6.5 percent of the Basic Pay for other cities.|
|IBPS Clerk Travel Allowance||Expenses on official tours and travels will be reimbursed by the bank.|
|IBPS Clerk Medical Allowance||This is paid once a year. For IBPS Clerks, the amount is fixed at Rs 2000.|
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IBPS Clerk Salary Structure
Let us now look into the detailed IBPS Clerk Salary Structure:
|IBPS Clerk Basic Pay||Rs 13075|
|Dearness Allowance||Rs 7073|
|Travel Allowance||Rs 425|
|Special Allowance||Rs 1561|
|House Rent Allowance||Rs 980|
|Total IBPS Clerk Salary||Rs 23115|
IBPS Clerk Salary After 11th Bipartite Settlement
Most of the bank employees are waiting for IBA Bipartite Settlement (द्विपक्षीय निपटान). After it, we are expecting a minimum increment to the basic pay 20% to 30%.
Check How much Salary of Bank Clerk after wage revision? OR How much salary of IBPS Clerk after 11th bipartite settlement?
- If The Indian Banks’ Association (IBA) agree for 20% increment, Final Basic Pay will be Rs.15, 374. So, you obtain a total of 38.80% of DA & HRA on Basic Pay. So, total Gross Salary of Bank fresher Clerk will be Rs.21, 339/- (Worst Possible Scenario)
- If IBA agrees for 25% increment, Final Basic Pay will be Rs.16,015.So, total Gross Salary of Bank fresher Clerk will be Rs.22,228/- (Somewhat Good)
- If IBA agrees for 30% increment, Final Basic Pay will be Rs.16, 655. So, total Gross Salary of Bank fresher Clerk will be Rs. 23,117/- (Good Settlement)
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|Increment (%)||Basic Pay||Total Gross Salary|
IBPS Clerk Salary After Revision
After the 11th Bipartite Wage Settlement of 2015, a bank clerk is entitled to get a salary of Rs 21,990 within hand salary of Rs 19,461. With the Govt. setting up the stage for 11th wage revision talks, now IBA & Employee union associations must start the formal process.
7th Pay Commission Effect on IBPS Clerk Basic Salary
The Government Bank Employees are expected to get the best Salary from 2020. The compensation of Indian financiers (bankers) is expected to be expanded by 2020. Indeed, even as we all know that the Seventh Pay Commission is good to go to execute and with that the difference between Govt representative compensation and financiers will be considerably more profound.
This news about the expansion of investors pay had begun after Dept. of Financial Services issued notification for Next compensation (Wage Revision) correction out in the open segment banks (Public sector banks) on 12.01.2017. Then Now what is the clerk salary in the bank?
The new salary structure for bank jobs shall be valid from 1.11.2017, as the previous agreement was dated 11.2012.
IBPS Clerk New Salary Scale for Bank Jobs & Demands:
|Grade||Existing Basic Pay||Revised Basic Pay||Annual Increment – New|
|Clerk||Rs. 13075||31540||30000||68900||1500/3 – 1900/8 – 2400/8|
|IBPS Clerk Exam Pattern 2020||IBPS Clerk Previous Question Papers|
IBPS Clerk Salary Increment + Promotions and Career Opportunities
After being selected on a “Clerk” post aspirants looking forward to a fruitful Career in public sector banks. First of all, you will be under training period for understanding the routine daily tasks as a Clerk Officer. As you gain experience in your field, you will get plenty of opportunities to a bank to get promoted and reach the senior post.
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The scope of Promotion: Every year approx 60,000 -70000 clerks appoint in PSBs. Some of the banks encourage you on a higher level officer job within a year. Thus those who join as clerks may be promoted as officers, as per banks norms. For bright candidates, in some banks, this promotion from a clerk to an officer is possible in a period as short as one year.
There are seven scales in officer cadre:
- Scale 1 – Officer / Assistant Manager
- Scale 2 – Manager
- Scale 3 – Senior Manager
- Scale 4 – Chief Manager
- Scale 5 – Asst. General Manager
- Scale 6 – Deputy General Manager
- Scale 7 – General Manager.
It is to be noted that the promotion of an individual is judged by the performance of an individual.
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The banking sector has great potential for learning and earning for the aspirants. IBPS Clerk offers great chances of growth both at the professional and personal level. When you join the bank as a clerk you will get the chance to grow and prove yourself.
Now that you have every detail pertaining to the IBPS Clerk Salary, you have enough reasons to motivate yourself and give your best shot in the exam.
Hope this IBPS Bank Clerk Salary complete guide clear your all doubts. If you have any questions regarding this, you can comment below. And for any suggestion OR query share your experience here.
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It is a good job for those interested in a banking career. The bank clerk is an entry-level job and offers the following benefits: Not too much work pressure. Good increments. Good leave Structure
Rs 16175 and yearly increment of Rs 980 for the next four years
Presently IDBI is in second place in terms of salary after SBI. After Wage settlement which is still due only in IDBI (For other banks it has been increased on NOV 2015), IDBI will be the highest salary paying banks.