IBPS Clerk Salary 2020, Job Profile & Career Growth – All you need to Know!

The IBPS clerk exam is sought after and one of the most competitive exams in the country that provides a chance to work in a lot of centralized banks throughout the country but only on clerical posts.  IBPS conducts an online exam each year which is known as CWE or Common Written Exam for vacancies related to the IBPS post. In this article, we will cover one of the most highlighted aspects of this job, IBPS PO Salary & Perks 2020.

So, Hold tight and read till the end to know all the benefits and in-hand pay received by a Clerk in IBPS.

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IBPS Clerk Salary 2020  | Salary Structure

Population Less Than 45 lakhs Population More Than 45 Lakhs
Basic Pay Rs 11765 Rs 11765
Dearness Allowance Rs 5311 Rs 5311
Travel Allowance Rs 425 Rs 425
Special Allowance Rs 911 Rs 911
House Rent Allowance Rs 1176 Rs 1058
Total IBPS Clerk Salary Rs 19588 Rs 19470

* Dearness Allowance – DA is 4% of the basic pay for the employees which is revised quarterly.

*House Rent Allowance – HRA is basically 7-9 % of the basic pay

HRA% is varied as per the cities that the candidate will be posted in eventually:

Cities HRA %
Metro Cities 8.5
Cities with Population more than 5 lakhs 7.5
Other Cities 6.5

The IBPS clerk 2020 salary varies from bank to bank as well. Few other facilities that can be availed by the employees are home loans, education loans, medical benefits, etc.

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IBPS Clerk 2020 – Job profile

The job profile of IBPS Clerk is not limited to just one task, they are deployed on various profiles after their selection for the position. Few of them are as listed here:

  • Bank office clerks are deployed in the back office for various tasks like maintenance of ledger, bank receipt collection, handling the daily closure details
  • Updation of Passbooks of account holders at counters
  • Printing of receipts for cheques and demand drafts
  • bank clerks also do hold bank keys, safe keys under their protection
  • They are often placed at the query window to act as an information counter for the customers.
  • Handling the deposit and withdrawal cash.
  • Verification of various documents and proofs submitted by the customers
  • Responsible for bank cash, various important documents, keys, etc.
  • Sanctioning of withdrawals by the customers
  • Maintaining the various documents of the bank, balance sheets, ledger, etc.
  • Resolving the various issues of the customers
  • Issuing of Demand Drafts (DDs), bank accounts for the customers, cash receipts, etc
  • Providing information about the latest schemes and government policies
  • Providing guidance to customers relating to various banking activities
  • Attending to treasury works
  • Resolving queries of the customers
  • Miscellaneous tasks

Clerks are often placed in various departments like accounts clerk, loan clerk, office clerk, etc. Clerks are usually the first point of contact for any customer who is visiting the bank premises.

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IBPS Clerk 2020 Career Growth:

After becoming a clerk in any Public sector bank, multiple opportunities can be availed by the aspirant to become the officer in the bank but there are certain constraints to that. An employee needs to complete 2 years of service with the same bank to be eligible to appear for the test for the officer rank. Public sector banks do carry out the test for promotions every 2 years. They need to apply for the promotion and appear for the examinations, like JAIIB(Junior Associate of the Indian Institute of Bankers) and CAIIB (Certified Association of the Indian Institute of Bankers).  After becoming the officer the career prospects for an employee looks like this:

  • Scale 1 – Officer / Assistant Manager
  • Scale 2 – Manager
  • Scale 3 – Senior Manager
  • Scale 4 – Chief manager
  • Scale 5 – Assistant General Manager
  • Scale 6 – Deputy General Manager
  • Scale 7 – General manager

The growth of an employee is also dependent on his/her performance over the tenure with the bank. Banks do consider employees with impeccable work performance for higher positions.

This career prospect is completely under banks prerogative. Banks do design these programs and implement changes as they deem fit.

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 IBPS Clerk Exam Preparation

Get started with your exam preparation for IBPS Clerk exam 2020 with Oliveboard’s Mock Test Series. You will get access to:

  • 20 Mock Tests for IBPS Clerk 2020 Prelims
  • 10 Mock Tests for IBPS Clerk 2020 Mains
  • All Topic Tests
  • Sectional Tests
  • GK Supplement with 2500 questions
  • Video Crash course – 200+ Videos
  • Lessons on All Topics

That’s all from us on this blog, please keep checking this space for more updates regarding IBPS Clerk 2020 updates. Please follow the Oliveboard page for more such updates related to other exams and their details.

 


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