IBPS Clerk salary – Expected to be the best in 2018

IBPS Clerk salary
IBPS Clerk salary

IBPS comprises vacancies for IBPS clerk 2018 state-wise and bank-wise. IBPS clerk exam is conducted every year to fill the vacancies in various banks. Over 19 nationalized and rural banks are participating to select clerks for their banks. IBPS clerk tentative exam dates are already released on the basis of IBPS clerk yearly calendar schedule. Approximately 8.5 lacs candidates participate in IBPS clerk VIII.

Soon after selecting IBPS clerk, the candidate will be sent for a training period. During this period the candidate will be made to learn his necessary clerk job profile such as Payment clearance, receipts collection, data entry works, handling deposit, daily record of balance, cash withdrawal etc.

IBPS Clerk Salary during training period will not be more than 10,000/- PM. IBPS clerk salary will vary bank to bank and according to the bank policy. A bank clerk is eligible to get some exceptional allowances in addition to the basic pay. Dearness allowance, house rent allowance, medical allowances, transport allowance, are the main allowances given to the bank clerks.

  • Dearness allowance is given from 4% of basic pay, and it is revised every three months which depends on banks.
  • House rent allowance will be from 7-9% from the basic pay and it varies based on the place of posting
  • Travel allowance is nothing but reimbursement of official travel expense
  • Medical allowance is paid annually and it is as Rs.2000 for clerks
  • Special allowance is 7.5%

After one year completion the clerk will get Rs.400/- and after 2 years Rs.500/- as increment

After the 11th Bipartite Wage Settlement of 2015, a bank clerk is eligible to get Rs. 19,461 as his take home salary out of Rs.21,990. After the 7th Pay commission the bank employees are expected to get the best salary from 2018. The compensation of Indian bankers is expected to be augmented by 2018.

After being appointed as a clerk, the aspirant will be looking forward to a good career escalation in the public sector banks. Firstly, the candidate will be put under training period to understand regular tasks as a clerk. Once he gains experience, he will get more opportunities for promotion and reach the top positions in the bank.

Every year about 70000 clerks are appointed in public sector banks. Some of the banks boost the candidate to go for higher level officer grade within a year. Thus, those who join as clerks might be promoted as officers based on his performance and as per the bank norms. Some banks offer immediate job promotion from clerk to officer within a year for bright candidates.

IBPS clerk salary is based on the public sector banks revised banking norms. The promotion of an individual is judged based on his performance.

The promotion is conducted for every two years and clerks may take part in it. There are two processes to escalate from clerical post to officer post and they are normal process, merit basis process.

In the normal process, the clerk has to go for written exam and should be qualified. On the basis of his experience and seniority in his bank services, he can be promoted as officer.

For merit basis, the candidate should have two years of experience as a clerk along with CAIIB, JAIIB diplomas.

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