IBPS Clerk Salary: Candidates selected for IBPS Clerical Cadre posts in various Public Sector Banks can expect attractive salary packages along with several benefits, incentives, and perks. Attractive salary is a major factor motivating thousands of candidates to apply for the IBPS Clerk exam every year. One of the major motivations to pursue a banking career is the competitive IBPS Clerk Salary 2024.
Over time, as employees gain experience and get promotions, their salary increases steadily. Many students are curious to know about IBPS Clerk Salary 2024, benefits, and perks.
IBPS Clerk Salary 2024 Overview
The starting salary for IBPS Clerk Salary 2024 is Rs 19,900 per month. Additional income and job profile details are also available for candidates. Below is a table that provides IBPS Clerk Salary 2024 Overview for the better understanding of the candidate.
| IBPS Clerk Salary 2024 Overview | |
| Conducting Body | Institute of Banking Personnel Selection |
| Exam Name | IBPS Clerk Exam 2024 |
| Post | Clerk |
| Participating Banks | 11 |
| IBPS Clerk Vacancy 2024 | To be notified |
| Basic Pay | Rs 19900 |
| Allowances | Dearness Allowance, House Rent Allowance, Special Allowance, Transport Allowance |
| Language of Exam | English & Hindi |
| Official Website | www.ibps.in |
IBPS Clerk Salary Structure 2024
As per the official IBPS Clerk Notification 2024, the starting IBPS Clerk Salary 2024 is between Rs 28,000 to Rs 30,000 per month. The starting basic salary is Rs 19,900. After completing the training period, clerks get various allowances and additional benefits, which may vary depending on the 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 Pay Scale 2024
The IBPS Clerk Pay Scale 2024 consists of basic pay and various allowances such as House Rent Allowance (HRA) and Dearness Allowance. The starting basic pay for IBPS Clerk 2024 is Rs 19,900. The table given below provides a detailed breakdown of the IBPS Clerk salary Structure 2024.
| 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 year. |
| Basic Pay after the next 1 year | Rs 45,930 with a yearly increment of Rs 1990 for the next year. |
| Basic Pay after next year | Rs 47,920 (Maximum Basic Pay). |
IBPS Clerk Salary Slip 2024
The IBPS Clerk Salary Slip 2024 allows candidates to review the initial salary details provided to newly hired candidates. Adjustments in salary depend on the discretion of the authorities. Candidates will also be able to get information about the salary as the pay slip also mentions deductions, which will help candidates know about the final in-hand salary. The total gross of IBPS Clerk Salary 2024 is determined by adding the basic pay and allowances.
IBPS Clerk Salary Allowances 2024
In addition to the IBPS Clerk Salary 2024, clerks may also be eligible for various additional benefits depending on their posting location. The total salary for an IBPS Clerk 2024 includes the basic salary as well as these additional allowances including travel allowance (TA), dearness allowance (DA), and house rent allowance (HRA). Check the table below for a detailed information of the IBPS Clerk Salary 2024:
| IBPS Clerk Salary Allowances 2024 | |
| Special Allowance | It is 7.5 percent of the basic pay, after completion of 1 year it may increase from 400 to 500 Rs. |
| Dearness Allowance | This component is 4 percent of the Basic Pay. DA depends on the CPI and is revised after every three months. |
| House rent allowance | The HRA is dependent on the location of the posting. It is 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 per cent of the Basic Pay for other 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 Deduction 2024
When calculating your net salary, several deductions are made. Some are required by law, such as contributions to the Provident Fund and National Pension System (NPS). Others are mandatory for organisations, such as professional tax and contributions to death benefit funds. These deductions are taken from your gross salary to determine your net salary.
| IBPS Clerk Salary Deduction 2024 | |
| Particulars | Amount |
| Pension Fund Contribution | 2886 |
| Death Relief Fund | 40 |
| Professional Tax | 60 |
| Total | 2986 |
IBPS Clerk Job Profile 2024
The IBPS Clerk Job Profile 2024 involves a wide range of responsibilities that go beyond accounting to include customer service and leadership. The IBPS Clerk 2024 acts as the initial point of contact for bank-related queries, managing reception and customer service functions, which is why they are also called single window operators.
The primary responsibilities of an IBPS Clerk 2024 includes:
- Back office duties such as maintaining ledgers, collecting bank receipts, and handling daily closure details.
- Updating account holders’ passbooks at the service counter.
- Printing receipts for cheques and demand drafts.
- Safeguarding bank keys and vault keys.
- Providing information and guidance to customers at the query window.
- Managing cash deposits and withdrawals.
- Verifying customer submitted documents and proofs.
- Handling bank cash, important documents, and keys.
- Approving customer withdrawals.
- Maintaining bank documents, balance sheets, and ledgers.
- Resolving customer problems and concerns.
- Issuing demand drafts (DDs), opening bank accounts and providing cash receipts.
- Informing customers about new schemes and government policies.
- Guiding customers on various banking activities.
- Handling treasury-related tasks.
- Resolving customer queries.
- Performing miscellaneous tasks as required.
IBPS Clerk Promotion 2024
The role of IBPS Clerk 2024 offers opportunities for career growth in the banking sector. This position gives individuals the opportunity to gain valuable experience and showcase their potential. Generally, clerks are required to serve at least 3 years before being eligible for promotion, although some banks may require only 2 years. Promotion can happen through two main processes:
General/Seniority Process
Promotion is based on experience and seniority. Eligible candidates take internal written exams, and upon passing, they can be promoted from IBPS Clerk to Trainee Officer and then to Bank Probationary Officer (PO).
Merit-Based/Fast Track Process
This process requires candidates to have JAIIB (Junior Associate of Indian Institute of Bankers) and CAIIB (Certified Associate of Indian Institute of Bankers) diploma from Indian Institute of Banking and Finance (IIBF).
The promotion hierarchy for IBPS Clerks 2024, in ascending order, is as follows:
- Clerk
- Officer
- Senior Officer
- Assistant Manager
- Manager
- Senior Manager
- Chief Manager
- Assistant General Manager
- Deputy General Manager
- General Manager
IBPS Clerk Career Growth 2024
Career advancement for IBPS Clerks 2024 usually begins with promotions. As clerks gain experience and meet certain time requirements, they can move to higher positions in the bank, such as Officer/Assistant Manager, Manager, and beyond.
To boost career growth, it is important to constantly develop skills and expand knowledge in various banking areas. Joining training programs, attending workshops, and getting certification in banking and finance can greatly enhance job prospects and create new opportunities.
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