IBPS Clerk Salary 2023 | Pay Scale, Job Profile, Allowances and Benefits

IBPS Clerk Salary 2023 | Pay Scale, Job Profile, Allowances, and Benefits: Have you ever given a thought to – IBPS Clerk Salary. What are the Pay Scale, Job Profile, Allowances, and Benefits of IBPS Clerk? If you haven’t known yet. Read through this article and get all the relevant information regarding IBPS Clerk Pay. Moreover, knowing all the detailed information regarding the IBPS Clerk Position will definitely motivate you to pursue the goal of becoming one. Whereas, as per the information provided, the salary for IBPS Clerk is Rs.19900-1000/1-20900-1230/3-24590-1490/4-30550-1730/7-42600-3270/1-45930-1990/1-47920. 

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IBPS Clerk Salary 2023

The Institute of Banking Personnel Selection (IBPS) provides comprehensive information on the IBPS Clerk Salary 2023, in conjunction with the official notification. With the announcement of the recruitment of CRP XII Clerks in various banks, the IBPS Clerk not only offers an attractive salary package but also a diverse range of job opportunities.

The IBPS Clerk Salary is highly competitive, making it a highly desirable exam to pursue. The salary package for IBPS Clerk 2023 includes various allowances such as DA allowances, HRA allowances, Medical allowances, Special allowances, and Travel allowances. It is important to note that all successful candidates will be subject to a probationary period of six months. For complete details regarding the IBPS Clerk Salary 2023, it is recommended to bookmark this article.

IBPS Clerk Pay Scale

The salary of an IBPS Clerk comprises the Basic Pay along with other allowances such as HRA (House Rent Allowance) and Dearness Allowances, among others. For the year 2023, the initial Basic Pay for an IBPS Clerk is set at Rs 19,900. The pay scale for IBPS Clerk is structured as follows: Rs.19900-1000/1-20900-1230/3-24590-1490/4-30550-1730/7-42600-3270/1-45930-1990/1-47920. To simplify understanding, the table below presents a clearer breakdown. Essentially, this means that the minimum Basic Pay for an IBPS Clerk is Rs 19,900, while the maximum is Rs 47,920.

IBPS Clerk Salary In Hand

To embark upon, there is an essential factor that we need to understand about the difference between CTC and in-hand salary. The IBPS Clerk’s in-hand salary is a monthly payment after all the deductions. Also, there will be a difference in accordance with the place of posting. For instance, employees who are working in the cities like Mumbai, Delhi, and Kolkata get comparatively higher pay.

On an average basis, the basic pay of an IBPS clerk is Rs. 19,900/- per month.

IBPS Clerk Salary Allowances 2023

The IBPS Clerk salary package includes attractive allowances. A clerk employed through IBPS is eligible for a range of allowances, which are influenced by factors such as the posting location, branch performance, and other relevant considerations. The following are the different types of allowances offered to IBPS Clerks:

The variation of IBPS Salary and Allowances as per the location:

IBPS Clerk Promotion and Career Growth

IBPS Clerk gets the utmost rewarding career growth after they are posted. There are multiple opportunities for their employees to grow and prosper in the banking sector as per the participating banks. To note, the career and promotions for the IBPS Clerk post are as follows. These promotions will directly improvise the salary and provide the best benefits. Additionally, there are internal interviews and written exams that will be conducted and the employee needs to qualify for getting promotions in the respective domain.

• 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.

There are two main credentials that you need to understand regarding IBPS Clerk Career Growth and Prospects.

• Firstly, the Normal/ Seniority-based Process. In this criteria, Candidates should clear a written exam that is conducted internally. This is promoted based on their experience and seniority levels. In this particular section, candidates don’t require JAIIB and CAIIB diplomas to be entitled to the promotion
• Secondly, the Merit/ Fast track-based Process. Here the candidates have the condition of the mandatory requirement of JAIIB and CAAIB Diploma from IIBF in order to be eligible for the promotion

IBPS Clerk Job Profile

Considering the enticing perks, allowances, and salaries offered, it can be inferred that the job profile of an IBPS Clerk is challenging. The role of an IBPS Clerk encompasses a wide range of duties and responsibilities, extending beyond accounting tasks. Customer service, cash handling, and providing guidance to customers are all part of their job scope. An IBPS Clerk serves as the primary point of contact for addressing bank-related inquiries and resolving issues. They are responsible for front desk operations and managing customer interactions, earning them the title of “Single Window Operator” in their job profile.

The job responsibilities of an IBPS Clerk can be summarized as follows:

• Managing inquiry corners, receipts, withdrawals, etc.
• Handling tasks related to the opening of new accounts, cash collection, issuing bank statements, and mail delivery.
• Verifying documents and proofs submitted by customers.
• Updating account holders’ passbooks.
• Safeguarding bank cash, important documents, and keys.
• Issuing Demand Drafts (DDs), bank accounts, and cash receipts.
• Approving customer withdrawals.
• Maintaining bank documents, balance sheets, and ledgers.
• Resolving customer issues.
• Providing guidance on various banking activities.
• Assisting with treasury-related tasks.

IBPS Clerk Salary Increments

This section of the article will give you an in-depth insight into the Salary Structure of IBPS Clerk and its growth is 11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230/1310-1-31540.

• Initially, IBPS Clerk will be paid Rs. 11,765/- with a yearly increment of Rs. 655/- for 3 years
• Next, After the completion of 3 years, the basic pay of Rs. 13,730/- will be paid along with an increment of Rs. 815/- for the duration of the next 3 years
• The further increment is Rs. 16,175/- will be paid along with a yearly increment of Rs. 980/- for the next 4 years
• Later, it heads to Rs 20095 will be paid along with Rs. 1,145/- for the next 7 years
• Further, it is Rs 28110 will be paid along with Rs. 2,12/-0 for the next 1 year
• Additionally, it turns to Rs 30230 will be paid along with Rs. 1,310/- for the next 1 year
• Finally, on a maximum level, the basic pay after the next 1 year is Rs. 31,540/-

IBPS Clerk Responsibilities

Here are the IBPS Clerk’s Responsibilities. Candidates must have a clear perspective of the job role and the duties that they need to impart. Conversely, having knowledge of the job profile will surely assist the candidates in establishing an estimation of IBPS Clerk Responsibilities. Additionally, curating the knowledge of the IBPS Clerk duties will enable the candidates in honing their skills and be more aware of the compatibility that the role offers.

First and foremost, the main responsibility of an IBPS Clerk is to deal with customers. Working with solving the client’s queries. Helping them know about the documents and formalities. Moreover, they will be assisting the Senior Managers in accordance with their responsibilities.

IBPS Clerk Duties are as follows

• The duties of the IBPS Clerk are to first do the verification of multiple documents and proofs that are submitted by the customers
• Look into the Passbook, Demand Drafts (DDs), bank accounts for the customers, and cash receipts
• Work on Resolving issues of customers
• Giving accurate Guidance to the customers relating to the banking activities
• Passbook updates and Managing the cash deposits and withdrawal
• Practically, Attending treasury works and Single Window Operations.

Therefore, aspirants who are targeting to apply for the IBPS Clerk exam must be well prepared to enter the banking sector.

To conclude, all the relevant information regarding the Salary of IBPS Clerk/ IBPS Clerk Salary Structure/ IBPS Clerk Salary & Job Profile is adequately provided in this article. Ace your bank preparation and land in your dream IBPS Clerk Post with the best salary and benefits. Hope you have got a good insight into the IBPS Clerk Salary, Allowance, and Perks. For more informative articles, follow us at freshersnow.com and develop your thought and action.