Career Growth Opportunities After IBPS Clerk Exam 2024

Career Growth along with the salary is one of the main reasons for candidates competing for IBPS Clerk exam. The continuous growth in the banking sector is also the reason for their interest in this clerical job. The IBPS Clerk basic pay is Rs. 19,900 per month with an yearly increment of 1000 for three years. This job is the key that opens many career growth opportunities. In this article, we will explore the career growth opportunities after IBPS Clerk exam 2024 that can help you decide your career.

Benefits After IBPS Clerk Exam 2024

Candidates who clear the IBPS Clerk 2024 exam will be able to avail multiple benefits like job stability, security, a handsome salary package, various allowances, and respect. Let’s discuss the major benefits of this clerical job.

1. Job Stability and Security

IBPS clerks have stable jobs and cannot lose their jobs unless they do something significantly against the rules and regulations. That’s the reason why Bank jobs are considered to be very stable. Also, they offer job security. In the private sector, jobs can be easily terminated, but bank jobs like IBPS Clerk are protected by the law by way of labour laws.

2. Growth Opportunities

IBPS Clerks have excellent growth opportunities. It comes in the shape of internal promotions. After gaining experience, they get promoted to higher posts within the bank hierarchy. They get promoted to roles like Officer or Assistant Manager, Manager, and even higher positions. They need to refine their skills and knowledge in different banking functions. They can increase their chances of promotions by taking part in the training initiatives, workshops and certificates related to banking and finance. 

3. Salary Package

The salary structure of both clerks is very good. The starting salary of IBPS Clerk is more than that of most MBAs. IBPS Clerk salary has a good structure that includes pay scale, basic pay/salary, gross salary, net salary, allowances, deductions, etc.  The starting pay for IBPS Clerk ranges from from Rs 28,000 to Rs 30,000 per month upon joining. The starting basic pay of Rs 19,900. The pay scale of an IBPS Clerk is Rs 19900-1000/1-20900-1230/3-24590-1490/4-30550-1730/7-42600-3270/1-45930-1990/1-47920. It is to be noted that the actual salary amount also depends on the job location of the employees. Go through the IBPS Clerk salary structure from the table given below:

NOTE: Additional perks and benefits are added after the training period. It is different in different banks.

4. Allowances

Apart from the basic pay discussed above, IBPS Clerks get some other benefits. These benefits will be based on the location they are posted. These benefits are called allowances. These allowances include TA, DA, and HRA. The total salary of IBPS Clerks include these allowances. Check out the table below to get the complete details about them:

NOTE: These figures given above in the table may change anytime. Candidates are advised to check the official notification and the official IBPS website for updates.

5. Respect & Prestige

IBPS Clerks get the respect of people as it is a Bank clerical job which is respected by people. People older than the clerks give respect to them, especially the old people. Therefore, many aspirants get attracted towards this job.

6. Retirement Benefits

IBPS Clerks also enjoy retirement benefits such as Provident Fund and Gratuity. Plus, they also have the option to get loans at concessional rates from the banks.

Check out the table below to review all the benefits discussed above:

IBPS Clerk Job Profile

IBPS Clerk job offers multiple opportunities and knowledge. The experience and knowledge gained over the years help the employees get opportunities to grow. This job includes verification of documents, management of cash and documents, Sanctioning of withdrawal, maintenance of documents, dealing with customer’s issues and more. Check out the roles and responsibilities from the table given below:

Career Opportunities After IBPS Clerk Exam 2024 via Promotions

IBPS Clerk gets a handsome salary and a job that offers great opportunities of growth. The employee gets promoted based on the performance and the growth is quite attractive. An employee requires a minimum of 2 years of experience to get eligible for promotion. Usually, after 2 years of experience the employee gets promoted once in 2 years. They get promotions through two processes:

Normal process- Employees who get promotions through this process don’t need JAIIB or CAIIB Diploma. IBPS Clerks get promotions based on the basis of their experience and seniority and a written exam that is conducted internally. .

Merit based process- In the merit based process, candidates require a JAIIB and CAIIB diploma from Indian Institute of Banking and Finance. 

Given below is the chain of promotions for the IBPS Clerk post:

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

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