Education

What Is The Salary Of A Newly Joined Clerk In IBPS?

If you are among the thousands of aspirants studying for the upcoming exam of IBPS Clerk 2022, you may be interested in knowing more about building a career in the banking sector. IBPS Clerk is among the most intriguing and lucrative job profiles that offers significant perks, allowances, and benefits.

IBPS Clerk Jobs are ideal for people who have an aptitude for calculations and data processing. BYJU’S exam prep helps aspirants achieve the success they desire to take up these jobs by making learning fun, and easy.

In addition with other perks, the IBPS clerk’s salary makes the aspirants stick to their decision of opting for this job.

While interest in banking jobs is at an all-time high, relatively little is known about the salary package of an IBPS Clerk. This article is intended to help aspirants know more about the IBPS Clerk pay scale and allowances from basic.

IBPS Clerk Pay Scale

The IBPS clerk’s salary has a definite advantage that aspirants can look forward to, especially if they enjoy working in the banking sector. The IBPS Clerk Analyst payscale ensures that people who work as clerks can enjoy a decent living and support their families. Getting a government job in the Indian Bank will prove to be an excellent decision for those who want to build a lucrative career and enjoy ample perks.

This article covers IBPS Clerk Pay Scale and details on allowances and other perks in India Post.Earning an IBPS Clerk salary depends on one’s qualification and total years of service.

Year Salary Increments (Yearly)
Starting pay Rs 19,900 Rs 1000
After 3 years Rs 20,900 Rs 1230
After next 3 years Rs 24,590 Rs 1490
After next 4 years Rs 30,550 Rs 1730
After next 7 years Rs 42,600 Rs 3270
After next 1 year Rs 45,930 Rs 1990
After next 1 year Rs 47,920 Max basic pay

IBPS Clerk Allowances And Perks

IBPS gives a total fixed salary as well as allowances to a clerk. The total amount depends on whether you are doing a full-time or part-time job, your location, the number of years at that particular location, etc. The pay scale is calculated according to the overall status of the clerk.

Moreover, the increments have been included in their pay scale.In addition to this fixed salary, you can also avail various allowances added to your basic pay. The allowances provided to IBPS clerk 2022 are incredible.

The allowances may change from time to time and employee to employee, but the following are some of the main allowances approved for IBPS clerks:

Special Allowance

The special allowance of 7.5 % of the starting pay is provided to the aspirants for IBPS recruitment.

Dearness Allowance

Dearness allowance is part of your salary as an employee. It relies on the CPI and is usually paid to government employees and wage earners.

House Rent Allowance

House Rent Allowance (HRA) is an allowance paid to people living/working in cities other than where they reside/work. Depending on their posting, these allowances are given to the staff residing in those areas. If you work in urban areas, your allowance is increased by 8.5% of the pay.

Medical Insurance

The medical insurance amount for ​​IBPS clerk recruitment candidates is Rs. 2000/- per annum.

Travelling Allowance

Travelling allowance provides a lump sum amount to officials for the travelling expenses incurred by IBPS clerks on official tours. The banks decide the amount of travelling allowance on factors such as distance and duration of the travel.

The IBPS Clerk jobs are desirable because they offer good career prospects, job security, and handsome salaries. Although the starting salaries are not too high, the increment within the range of market expectations in this sector is good enough. It is an excellent time to consider a career in the banking sector, given the recent reforms in the country’s banking system.

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