The IBPS clerk job is a highly sought-after position in the banking sector of India. The job is for public sector banks. The clerk is the first person a customer contacts for any inquiries and guidance.
Hence, the roles and responsibilities of an IBPS clerk include handling customer operations, dealing with front desk inquiries, and helping customers with deposits and withdrawals. The job profile also includes operating at the cash counter to collect cash, issuing bank statements, and looking after customer emails and deliveries.
Reasons to Become an IBPS Clerk
The career prospects of an IBPS clerk are quite bright and the IBPS clerk salary in hand is a lucrative one. The clerk can expect his first promotion after working diligently for the first three consecutive years. The promotion is based on the clerk’s performance. The clerk can also take internal exams, after which they can be promoted to Probationary Officer or Assistant Manager position.
Once the clerk has completed a couple of years as a clerk or has worked in a managerial position, the clerk can also take additional exams like JAIIB or CAIIB to increase their career prospects. It will significantly increase the IBPS clerk salary in hand.
Basic Pay and Benefits of IBPS Clerk
The basic pay of an IBPS clerk is between INR 11,500 and INR 13,000. Some benefits and transport allowances are added at this stage. After qualifying for the IBPS clerk exams, the clerk will get a salary between INR 18,000 to INR 21,000 during the training period.
Once the training is over, additional benefits and allowances like DA and HRA are added to the basic pay. It might differ slightly from bank to bank. There could also be a slight difference in rates depending on whether the bank is located in the Metro city or a Tier-II city in India.
The IBPS clerk salary in hand can thus range from INR 11,765 to INR 31,540. It depends on how many years of service the clerk has completed. The salary increases every three to four years for IBPS clerks, making it one of the country’s most secure jobs.
The promotion scale of an IBPS clerk is as follows.
- Scale 1 is the entry-level position of IBPS clerk.
- In Scale 2, they can go on to become an Officer or Assistant Manager.
- In Scale 3, they become Bank Manager.
- In Scale 4, they can become Senior Managers in the bank.
- In Scale 5, they can become Chief Manager.
- In Scale 6, they go on to become Assistant General Manager.
- In Scale 7, they can become Deputy General Manager.
- In Scale 8, they can become General Manager of the bank.
With every promotion, the IBPS clerk salary in hand increases. They are no longer clerks if they climb up the ranks of promotion. Even if the clerk chooses to remain at the clerical position, there is a significant increase every three to four years. The basic pay increases, and the DA and HRA, calculated at 4% and 7% of the basic pay, also increases accordingly. The IBPS clerk position is thus secure and respectable and provides much scope for career advancements.