WHAT ARE THE CAREER GROWTH PROSPECTS FOR IBPS CLERK?

IBPS Clerk 2020:

For this year it is the straight 9^th recruitment of the IBPS clerk jobs from 2011. Now a days most of the banking aspirants are running towards the IBPS clerk job. The main reasons for this are the hand full of salary, allowances and perks. Additionally they will get their promotions at regular intervals based on their performance. So with good salary and increments, they will definitely have an extraordinary career growth for sure. This is why every aspirant is aiming this job as their ultimate goal.

IBPS Clerk Exam:

The IBPS clerk recruitment happens in two stages namely, the preliminary exam and the mains exam. There is no interview conducted for the IBPS clerk recruitment. As the exam is nearing with just less than 3 months left, candidates need to work very hard to crack it. Start your preparation as early as possible. After that take full length IBPS Clerk Mock test series to enrich your exam preparation.

IBPS Clerk Job Profile:

If you clear both the IBPS clerk prelims and the mains exam you will get the provisional allotment order. Then you will be joining as clerk in any of the public sector participating banks. The clerk will also be called as the single window operator. The work profile of an IBPS clerk includes the following,

• Dealing with the queries related to the customers and solving their issues.
• Account opening formalities, cash handling, issuing cheque books.
• Bringing new business to the branch by marketing the products and schemes of bank to the customers.
• Maintaining the daily record of balance, collecting receipts, ledger maintenance, data entry works and holding the bank keys.
• Updating the passbooks of the branch customers.
• Document verification and checking the proofs of the customers for needed activities.

Growth Opportunity of the IBPS Clerk:

After working continuously for 3 years you will be promoted as the Probationary officer. Also in-between you can try for the promotions through the various certificate examinations such as JAIIB or CAIIB. If you clear those exams you will be promoted to the next level, i.e., probationary officer or the assistant manager.

IBPS Clerk Salary and Increments:

The minimum basic pay of an IBPS clerk is Rs.11765. Also the maximum basic IBPS clerk Salary is Rs.31540. The incremental that an IBPS clerk provided are given below,

• Initial basic pay will be Rs.11765, with an annual increment of Rs.655 for 3 years.
• After 3 years basic pay is Rs.13730, with an annual increment of Rs.815 for further 3 years.
• Again after 3 years the basic pay is Rs.16715 with annual increment of Rs.980 for a period of 4 years.
• After the end of those 4 years, the basic pay becomes Rs.20095, with yearly increment of Rs.1145 for 7 years.
• Then after 7 years, the basic pay is Rs.28110, with annual increment of Rs.2120 for one year.
• Then the basic pay reaches Rs.30230, with annual increment of Rs.1310 for another one year.
• Finally the basic pay reaches the maximum limit of Rs.31540.

IBPS Clerk Allowances:

The IBPS clerk will get various allowances. The allowance details are given below,

• Dearness allowance (DA) – It is 4% of the basic pay. The dearness allowance will be based on the Consumer Price Index (CPI). The consumer price index will be revised after every 3 months.
• House Rent Allowance (HRA) – It depends upon your work location. For metro cities the HRA is 8.5% of the basic pay. For cities having population more than 5 lakhs, the HRA is 7.5% of the basic pay. For cities with population less than 5 lakhs the HRA is 6.5% of the basic pay.
• Medical allowance – It will be a fixed amount of Rs.2000 per annum.
• Special Allowance – It will be 7.5% of the basic pay. After one year it will have increment of Rs.400 to 500.
• Travel Allowance – The travel expenses will be reimbursed by the bank.

IBPS Clerk Promotion Levels:

The IBPS clerk will get the promotion in the following order,

• Scale 1: Clerk
• Scale 2: PO/ Assistant Manager
• Scale 3: Manager
• Scale 4: Senior Manager
• Scale 5: Chief Manager
• Scale 6: Assistant General Manager
• Scale 7: Deputy General Manager
• Scale 8: General Manager

With good salary and excellent career growth the IBPS clerk is the most wanted job for the banking aspirants.