IBPS Clerk Salary after 10 Years
Are you craving for a good salary and a clerical job in a Bank? That’s the reason why IBPS Clerk Exam might have attracted your attention. Why not when it offers a lucrative salary along with perks, benefits, job security, recognition, etc., and a promise of promotion in the future. Salary and its growth in the future is undoubtedly one of the foremost reasons why we choose a career.
So, let’s check out how IBPS Clerk Salary grows in 10 years!
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What Is The Salary Of IBPS Clerk After 10 Years?
An IBPS Clerk is given an annual pay hike, which increases the salary of the employee every year. Those candidates, who have join the clerk cadre right now will get around 55-60K salary per month after 10 years, whereas those candidates who will join the cadre in 2027 means after 10 years from today they will get maximum 35k as net salary.
IBPS Clerk Salary after 5 Years
The minimum Basic Pay for IBPS Clerk is Rs 19,900 while the maximum is Rs 47,920. IBPS Clerk Salary is the sum total of Basic Pay and other Allowances like HRA (House Rent Allowance and Dearness allowances, etc. The IBPS Clerk Pay Scale is Rs.19,900-1000/1-20,900-1230/3-24590-1490/4-30,550-1730/7-42,600-3,270/1-45,930-1,990/1-47,920.
To know understand how the IBPS Clerk salary will increase in 5 years, let’s take a look at the table given below:
| Basic Pay | Amount |
| Initial Basic Pay | Rs 19,900 with a yearly increment of Rs1000 for three years |
| After 3 years | Rs 20,900, with a yearly increment of Rs 1230 for the next three years |
| After the next 3 years | Rs 24,590, with a yearly increment of Rs 1490 for the next four years |
| After the next 4 years | Rs 30,550, with a yearly increment of Rs 1730 for the next 7 years |
| After the next 7 years | Rs 42,600, with a yearly increment of Rs 3270 for the next year |
| After the next 1 year | Rs 45,930, with a yearly increment of Rs 1990 for the next year |
| After next 1 year | Rs 47,920 (maximum Basic Pay) |
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IBPS Clerk Salary Allowances
There are multiple allowances provided to a serving IBPS clerk. These allowances depend on various factors that may include the location of posting, how the branch is progressing, and some other factors.
Here are all the various types of allowances that IBPS Clerk get:
| Special Allowance | Rs 4118/- |
| Dearness Allowance (DA) | DA 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. The HRA remains between 6.5% to 8.5% depending upon the location of the posting. |
| Travel Allowance (TA) | Expenses on official tours and travels will be reimbursed by the bank. |
| Medical Allowance (MA) | This is paid once a year. For IBPS Clerks, the amount is fixed at Rs 2000/- annually. |
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IBPS Clerk Promotion & Career Growth
Those who join the Clerical Programme will directly be given Assistant Manager cadre post-confirmation as Management Trainee. They can further enjoy multiple opportunities to grow and prosper. Given below are the career and promotion opportunities a Clerk can grab:
- 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.
The clerk is the entry-level position in any bank and after appointment, as candidates get the experience of working or their daily schedules, they will get huge opportunities to prove the work qualities that can provide a promotion to them and can also help them to reach the senior post.
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IBPS Clerk Responsibilities
With benefits, come responsibilities. An IBPS Clerk working in the clerical cadre has to fulfill many responsibilities. The main responsibility of an IBPS Clerk is to deal with customers. It involves, solving the client’s queries, making them aware of the documents and formalities, and assisting the Senior Managers. Some major responsibilities that IBPS Clerk post invites are as follows:
- Verification of multiple documents and proofs submitted by the customers.
- Passbook, Demand Drafts (DDs), bank accounts for the customers, cash receipts, etc.
- Guiding customers relating to various banking activities.
- Managing the cash deposits and withdrawals
- Passbook update
- Resolving the various issues of the customers.
- Attending treasury works
- Single Window Operation
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