Work Profile, Salary, Career Growth, Promotions, etc., of IBPS Clerk

Every year Institute of Banking Personnel Selection (IBPS) notifies various posts such as IBPS PO, IBPS Clerk, IBPS SO, etc., to select candidates for the posts lying vacant at its various participating organizations. IBPS Clerk is one of the important exams in banking sector for those graduates who are keen to join banking sector.
Aspirants must know some important factors about the IBPS Clerical post before applying for the same. It will give them a comfortable ride at the time of joining the post. Let us discuss some important features of IBPS Clerk post such as salary package, work profile, promotions, career growth, etc.

1.     Work Profile of IBPS Clerk

Bank Clerk is also called “Single Window Operator” because of his work profile. Clerk looks after the daily office routine and accounts related functions of a bank. The duties performed are listed below:
  • To handle deposits and cash withdrawals
  • To manage receipt of cheques, drafts, pay orders and dividend warrants.
  • To ensure clearance of payment
  • To maintain record of daily cash inflow and outflow balance
  • To maintain ledger entries, balance tally, ESI stamps and data entry
  • To type essential information about bank
  • To issue Cheque books
  • To market the financial products of the Bank like loans, mutual funds, deposits, schemes, etc.

2. Salary & Allowances of IBPS Clerk


A bank clerk is entitled with decent salary along with various allowances such as Dearness Allowance (DA), Transport Allowance (TA), House Rent Allowance (HRA), etc. Candidates get ample of chances to get promotions at higher levels depending upon the performance. Salary structure of IBPS Clerk is given below:
  • Basic Salary – Rs. 11, 765 – 31, 540/-
  • After working for one year uninterrupted one will be entitled for an increment of Rs. 400/- to Rs. 500.
  • Dearness Allowances are announced quarterly by the banks depending upon the Consumer Price Index.
  • House Rent Allowance is allotted to Bank Clerk according to the place one is posted which ranges from Rs. 1176.5/- to Rs. 1058.85/-.
  • An IBPS Clerk is also entitled for transport allowance which is around Rs. 425/-.

3. Perks & Benefits of IBPS Clerk

An IBPS Clerk is given following benefits besides salary package theses are:
  • Accommodation on lease from Nodal bank
  • Medical Allowances approximately of Rs. 2000/- per year and in case of serious ailments one will also get extra medical benefits.

4.  Scope & Promotions of IBPS Clerk

Banks enlisted with IBPS ensures the promotion plan for clerks to reach the officer grade on the basis of the respective performance. Exams like Junior Associate of the Indian Institute of Bankers
(JAIIB) and Certified Association of the Indian Institute of Bankers (CAIIB) are floated for clerks to enhance their grade.
The stages of promotion given to an IBPS Clerk are given in the form of a flow chart:
Bank Clerk
↓
Officer/ Assistant Manager
↓
Manager
↓
Senior Manager
↓
Chief Manager
↓
Asst. General Manager
↓
Deputy General Manager
↓
General Manager
Make the most of it to qualify IBPS Clerk Exam in the forthcoming notification of the year 2018. IBPS Clerk 2018 Tier I exam is going to be released anytime between August 2018 to September 2018. Start preparing for the exam to avail the benefits given to IBPS Clerk as given above.
Author Bio:  Above content is written and published from IBT Institute Chandigarh– Top Bank & SSC Coaching Institute.



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