IBPS Clerk notification is out. The number of vacancies has reduced drastically. IBPS will conduct the exam in the first few weeks of December. It is natural for aspirants to think about the Bank Clerk or IBPS clerk salary after 7th pay commission before starting their preparation.
Try IBPS clerk free mock tests to know where you stand among the competition. If you have much ground to cover, try IBPS clerk online preparation to make things easier. Previous year papers of IBPS clerk can give aspirants some idea about the nature of the questions that appear in the exam.
SBI Clerk Salary after 7th pay commission
As of now, the in hand salary of the bank clerk varies from 19,000 to 21,000 depending on the bank and the place of posting. In this article, let us have a look at the changes we can expect in the IBPS clerk salary after 7th pay commission comes into effect.
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IBPS Clerk salary after 7th pay commission:
As we have mentioned in our previous article on IBPS PO salary after 7th pay commission, PSB employees do not come under the ambit of Central government or State government. Hence, there will be no change in the IBPS Clerk salary after 7th pay commission comes to effect.
Banks revise their salaries on the basis of Bipartite settlements. Banks implemented 10th bipartite settlement before a few years, and the 11th bipartite settlement is under consideration. So, in this article, let us see what will be the IBPS Clerk salary after 11th bipartite settlement.
The salary of IBPS Clerk consists of various components such as Basic pay, TA, DA and HRA. Let us have a brief overview of each of these components.
Basic pay:
The starting basic pay for a clerk is Rs. 11,765. The highest basic pay is Rs. 31,540. The basic pay will increase depending on the number of years an employee has been working with the bank. The maximum basic pay has been capped at Rs. 31,540. The other perks and allowances of working as a clerk in a Public Sector Bank are as follows.
Dearness allowance:
Dearness allowance is around Rs. 5311.
Banks also pay a special allowance of Rs. 911.
Transport allowance:
Transport allowance is Rs. 425 per month.
House rent allowance:
House rent allowance depends on the place of posting. If the place has a population greater than that of 45 lakhs, the HRA is Rs. 1176. In other cases, the HRA is Rs. 1058.
The IBPS clerk salary in 2017 is around Rs. 19,000.
Banks have placed a demand to increase the revised basic pay of Clerks to Rs. 30,000. The figure looks wildly optimistic. After the 11th bipartite settlement comes into effect, the in hand salary of IBPS Clerk is expected to increase by Rs. 2000 to 4000.
Career Prospects:
After joining as IBPS Clerks, people can clear JAIIB and CAIIB exams to increase their salary. Also, after completing 2-3 years with the bank, clerks will be eligible to take departmental promotion exams. If successful, clerks can become Trainee officers (TOs) which is equivalent to Probationary officers. This route is less competitive than joining the banks directly as POs. Hence, aspirants who are preparing for PO exams must give this exam a shot as well.
IBPS has introduced some changes in the pattern of mains examination this year. IBPS has merged the Reasoning and computer awareness sections. The number of questions has gone up and so has the time limit.
The number of questions in General awareness and reasoning sections stands at 50 now (It was 40 earlier). The duration of the exam is 160 minutes.
The number of vacancies is not even half of what it was last year. Though only the state wise vacancy matters, the number of vacancies in most of the states has reduced as compared to the previous year. Hence, we can expect a sharp increase in the cut-offs.
Also, the increase in the time duration of the mains exam hints at a possible increase in the level of difficulty of the questions. As aspirants will have more time at their disposal in the exam, IBPS might increase the toughness of the questions. Making questions tough will ensure that setting cut-offs will not become a difficult process.
Hence, aspirants must prepare themselves mentally for any drastic changes in the level of difficulty or cut-offs.
Aspirants can read our other useful blogs in IBPS Clerk state wise vacancies 2017 and Permutation and combination for IBPS PO.
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