Twice a year, the Indian Institute of Banking and Finance (IIBF) releases the official notification for the Certified Associate of India Institute of Bankers (CAIIB) Exam. The aim of this exam is to check the development methods for dynamic and general financial administration. Only qualified bankers are eligible to take this examination. The bankers with CAIIB certificates often get a handsome salary.
In addition to the salary, the employee who effectively clear the CAIIB test gets benefits like incentive, increment, promotion, etc. Go through this post to know about the CAIIB Salary 2023 along with different benefits and perks.
CAIIB Salary 2023 Highlights
|Name of the exam||Certified Associate of India Institute of Bankers (CAIIB) Exam|
|Exam conducting authority||Indian Institute of Banking and Finance (IIBF)|
|Who can appear for the exam?||Only those who are members of the Indian Institute of Banking and Finance can apply|
|Monetary Benefits of clearing the exam||Increment in the present salary|
|Non Monetary Benefits of clearing the exam||The banker will get advanced knowledge for better decision making in the field of Treasury Management, Risk Management, Balance Sheet Management, Credit Management, International Banking, Economic Analysis, etc.|
CAIIB Salary Increment
There are huge benefits that a banker gets after clearing the CAIIB exam. He not only gets the financial benefits also get many non-financial benefits. The benefits of clearing this exam can be classified into the following categories.
- Monetary Benefits
- Non – Monetary Benefits
Let’s discuss both these benefits in detail.
Monetary Benefits after clearing CAIIB Exam 2023
The monetary benefits are the financial benefits that a person gets after clearing the CAIIB exam. According to Indian Bank Association settlement guidelines, any permanent bank employee who is from PSUs (one of the members of IBA) is eligible to get salary increments after passing JAIIB & CAIIB exams.
In monetary benefits, there are two types of entitlement of increments.
In the case of a clerk (Salary increment after passing the CAIIB exams)
for clerical employee whose pay band is as follows – 11765-655/ 3-13730-815/ 3-16175-980/ 4-20095
In the pay band, you need to understand that the initial pay is around Rs. 11,765./- with an annual increment of Rs. 655/- till the basic pay reaches Rs. 13,730/-. After that, the amount of annual increment will be Rs. 815/- till the basic pay reaches Rs. 16750/- so and so forth.
After passing CAIIB exam pay structure of a bank clerk – Rs 11765 + Rs 655 x 3 (increments) = Rs 13730 /- Basic Pay.
In case of an officer (Salary increment after passing the CAIIB exams)
- Unlike a clerk, an officer gets only one increment in his after clearing the examination. However, non monetary benefits will remain the same.
Non Monetary Benefits after clearing CAIIB 2023 Exam
Non-monetary are the non financial benefits that you will get after clearing the CAIIB Exam 2023. We have listed some of the non monetary benefits after clearing the test.
- Getting the CAIIB certificate will help a banker to get the advanced knowledge required for better decision making in the field of Treasury Management, Risk Management, Balance Sheet Management, Credit Management, International Banking, Economic Analysis, etc.
- Having knowledge of these advanced aspects in the field of banking will help a banker in getting internal promotion too. Remember, this exam always has a good weightage in the promotional interviews. In simple words, we can say that clearing this exam gives you an edge over other candidates.
- Those who clear the JAIIB exam will get good knowledge in banking and financial services, banking technology, customer relations, basic accountancy, and legal aspects necessary for carrying out day to day banking operations.
- The banker will get more confidence in his/ her daily day to day activities at work.
Frequently Asked Questions
The questions in the CAIIB exam will be asked to determine the knowledge of a candidate in the following field – Knowledge testing, Case analysis, Problem-solving, and Analytical explanation. For elective paper, a candidate can choose any of the following subjects – International banking, Corporate Banking, Risk management, Human resource management, Treasury management, Central banking, Rural banking.
Any JAIIB (Junior Associate of Indian Institute of Banking and Finance) qualified banker can apply for the CAIIB ( Certified Associate of Indian Institute of Bankers).
There is a provision for two increments in the salary of a bank clear after clearing the CAIIB examination.
Yes, an officer will also get an increment in his/ her website after clearing the CAIIB exam. Unlike clerks, officers will get only one increment.
Yes, you will get advanced knowledge required for better decision making in the field of Treasury Management, Risk Management, Balance Sheet Management, Credit Management, International Banking, Economic Analysis, etc. This will definitely give you get a good chance of promotion.