Understanding the Initial Salary Structure for New SBI Clerks and IBPS Associates

When considering a career in banking, particularly as a new joiner in positions such as SBI Clerks or IBPS associates, it is crucial to understand the initial salary structure. This article will delve into the monthly salary in-hand for new hires, the various allowances, and the overall range of gross and in-hand salaries.

Monthly Salary Structure of New SBI Clerks and IBPS Associates

The initial in-hand salary for a new joiner in an SBI Clerk or IBPS associate role varies and is often subject to the place of posting and gross salary deductions. According to the most recent data and several reports, the in-hand salary typically falls within a specific range.

IBPS Clerk Salary

For newly recruited IBPS clerks, the in-hand salary is around Rs. 37,000 per month. This figure includes the base salary, Dearness Allowance (DA), and other allowances, with two extra increments. The overall salary structure for SBI Clerks in 2024 includes a base salary ranging from Rs. 17,900 to Rs. 47,920, with the actual in-hand amount varying based on the specific posting and allowances received.

SBI Clerk Salary

The in-hand salary of a new SBI clerk, after all deductions, varies based on the location. The typical range as of the latest reports is between Rs. 20,000 and Rs. 23,000. This range can increase or decrease depending on the specific posting and Allowance and Dearness Allowance (DA) adjustments.

Allowances and Other Benefits

In addition to the base salary, SBI clerks and IBPS associates can receive various allowances and other benefits. These include:

Newspaper allowance: Rs. 360 Entertainment allowance: Rs. 360 Petrol allowance: around Rs. 1,500 - Rs. 1,600 for 20 liters, and Rs. 3,060 for 43 liters with an entertainment allowance of 540 for cashiers

Additionally, employees working overtime can receive Rs. 200 per hour, but this requires prior permission from their respective Regional Banks or Zonal Officers (RBO/ZO).

Examples of Salary Calculation

As an example, the gross salary for a new SBI clerk in May 2020, including DA, was around Rs. 26,500, with in-hand salary of around Rs. 24,200. Employees also receive additional benefits like free newspapers and entertainment, and the cost of 20 liters of petrol typically ranges from Rs. 1,500 to Rs. 1,600.

Future Salary Expectations

According to recent updates, around Rs. 25,000 should be considered the starting salary for new employees. However, this figure can vary based on individual circumstances and specific job roles within the bank.

Key Takeaways: The in-hand salary of new SBI clerks and IBPS associates depends on the place of posting and gross salary deductions. The base salary for SBI Clerks ranges from Rs. 17,900 to Rs. 47,920. Newspaper, entertainment, and petrol allowances can significantly impact the overall take-home pay. Overtime pay is available but requires prior permission. The current gross salary of new employees as of May 2020 was around Rs. 26,500, with in-hand salary of Rs. 24,200.

For more detailed and up-to-date information, refer to the latest salary charts and D.A. payable from May 2020 to July 2020 for bank employees. This will provide the most accurate and current salary ranges for both SBI Clerks and IBPS associates.