IBPS Clerk Salary and Allowances in Starting / After the Probation period
Hello bank aspirants! Your search of IBPS clerk salary has brought you here. You are landed in the right place. Through this post, I will draw light on IBPS clerk salary and allowances.
The bank clerk is entitled to receive a dignified salary and other perks and allowances.
It is the starting level post in bank sector where the clerk has to perform the various task. In every bank, the role of a clerk is regarded as indispensable.
IBPS Clerks 2018 get a lucrative IBPS Clerk Salary. Along with that, there are ample possibilities to learn and grow in this job.
IBPS clerk aspirants appearing for the exam might be wondering what the IBPS Clerk Salary and the job profile are. Of course, before applying for any job, it is significant that candidates get a clear idea about the salary, job description, and scope of promotions
The department of the Institute of banking personnel and selection (IBPS) has recently published the clerk notification on the official website.
IBPS salary for clerk is entitled to increment. The basic pay of IBPS clerk is 11,765 per month. After IBPS clerk syllabus and notification, most searched query among the aspirants is IBPS bank clerk.
In this post, I have discussed in detail about the IBPS clerk salary and allowances.
IBPS Clerk Salary Structure in detail
IBPS clerk initially has to undergo a training period. In which you learn all necessary clerk job profile such as payment clearance, handling cash or daily record of balance, receipt, data entry works.
During the tenure of training the bank clerk salary through IBPS is an amount of rupees 10000. Please Check IBPS Clerk salary with Basic Pay, DA, HRA, Special Allowance, Transport Allowance, and Gross salary, etc
IBPS Clerk Salary and Perks 2018
- Facilities Places with Population > 45 lakhs Below 45 Lakhs
- IBPS Clerk Basic Pay Rs.11765/- Rs.11765/-
- Special Allowance Rs.911.79/- Rs.911.79/-
- DA Rs.5311.58/- Rs.5311.58/-
- CCA Rs. 0/- Rs. 0/-
- Transport Allowance Rs.425/- Rs.425/-
- Total (without HRA) Rs.18413.37/- Rs.18413.37/-
- HRA Rs.1176.5/- Rs.1058.85/-
- Gross with HRA Rs.19589.87/- Rs.19472.22
IBPS Clerk Salary and Allowances
The bank clerk is entitled to get numerous allowances apart from the salary. The Basic Pay Scale of IBPS Clerk is Rs 11,765 – Rs 42,020. Here Rs 11,765 is the IBPS in hand salary.
- Dearness Allowance (DA): In Bank, Dearness allowance is revised quarterly and is based on CPI as declared by the banks i.e. DA can move 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 19,461.
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IBPS Clerk Salary: Other Allowances
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.
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.
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.
Travel Allowance Expenses on official tours and travels will be reimbursed by the bank.
Medical Allowance This is paid once a year. For IBPS Clerks, the amount is fixed at Rs 2000.
IBPS Clerk Salary Structure
Let us now look into the detailed IBPS Clerk Salary Structure:
Places With Population More Than 45 lakhs Places With Population Less Than 45 lakhs
- Basic Pay Rs 11765 Rs 11765
- Dearness Allowance Rs 5311 Rs 5311
- Travel Allowance Rs 425 Rs 425
- Special Allowance Rs 911 Rs 911
- House Rent Allowance Rs 1176 Rs 1058
Total IBPS Clerk Salary Rs 19588 Rs 19470
IBPS Clerk Salary After 11th Bipartite Settlement
Bank aspirants are waiting for IBA Bipartite Settlement (द्विपक्षीय निपटान). After it, we are expecting minimum increment for the IBPS clerk salary is 20% to 30%.
Let us check how much Salary of Bank Clerk after wage revision? OR How much is the IBPS clerk after 11th bipartite settlement?
- If The Indian bank association IBA agrees for 20% increment, Final IBPS clerk pay scale will be Rs.15, 374. So, you obtain total 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 a 25% increment, Final IBPS in-hand salary 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 IBPS clerk salary will be Rs.16, 655. So, total Gross Salary of Bank fresher Clerk will be Rs. 23,117/- (Good Settlement)
Increment (%) Basic Pay Total Gross Salary
15% Rs.14,733/- Rs.20, 450/-.
20% Rs.15,374/- Rs.21,339/-
25% Rs.16,015/- Rs.22,228/
30% Rs.16,655/- Rs.23,117/-
IBPS Clerk Salary After Revision
Bank aspirants after the 11th Bipartite Wage Settlement of 2015, a bank clerk is entitled to receive an IBPS clerk 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 good news is that bank employees are expected to receive the best IBPS clerk salary from 2018.
The compensation of Indian financiers are expected to increase from 2018
IBPS Clerk pay scales are expected to increase from the year 2018 so it’s great news for all the IBPS clerk aspirants.
Indeed seventh pay commission is a great plan to execute.
IBPS Clerk New Salary Scale for Bank Jobs & Demands:
Grade Existing Basic Pay Revised Basic Pay Annual Increment – New
Starting Closing Starting Closing
Clerk Rs. 11765 31540 30000 68900 1500/3 – 1900/8 – 2400/8
IBPS Clerk Promotions
Bank aspirants there are many top bank managers who have commenced their career as the bank clerk and now moved up to the ladder of success.
As you work as a bank clerk, you will get ample scopes to prove your potential and merit
After being selected as clerk, bank aspirants you will put under training period to grab the understanding of the routine task as a clerk officer.
As you get the experience you will get numerous opportunities to reach the top senior post.
Based on your caliber, performance, and experience, you will get numerous chances for promotion.
It is to note that bank clerk has to work for a minimum of 2 years before they can apply for promotion
Promotions are given following two processes:
• Normal process
• Merit-based process
Under the normal process, IBPS clerks receive promotion based on their experience and seniority.
They have to attempt the written exam conducted by the bank
Aspirants who get promotion through this process don’t need JAIIB and CAIIB Diploma. The Clerks after clearing the written exam to become Trainee Officer and then bank Probationary Officers (PO).
Under the merit-based process, students must hold JAIIB and CAIIB diploma
The subsequent promotions from Probationary Officer are as under:
Please take a glance at the following
1. Assistant Manager – Scale 1
2. Manager – Scale 2
3. Senior Manager – Scale 3
4. Chief Manager – Scale 4
5. Assistant General Manager – Scale 5
6. Deputy General Manager – Scale 6
7. General Manager – Scale 7
Every year approximately 60,000 -70000 clerks get appointed in PSBs.
Most 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
Salary after clearing IBPS clerk exam is subject to increment and the job prospects of this post are substantial.
Seeking bank aspirants now you are acquainted with IBPS clerk salary and allowance now you have sufficient reason to motivate yourself.
I hope the above details guide on “IBPS clerk salary” is useful for you. If you like it share it with friends and community.
As a bank clerk, you will receive multiple chances for promotion. The bank clerk is considered the dignified entry-level post. As you learn and grow in this career you will receive multiple opportunities to climb up the success ladder.
The bank clerk is indeed a great opportunity to be considered. All the very best for future endeavors. Have a nice day!