We came across this question recently while answering the doubts raised by our readers – To apply for public or private bank jobs? Many public sector banks are recruiting for entry level bank jobs in huge numbers. Private banks on the other end too recruit,but mostly through campus placements & sometimes through public notice.
There are over 12 Public & 22 Private banks in India but you would see more recruitments by public banks only (refer upcoming bank exams). Why? The reasons are listed below:
* Public sector banks follow certain rules laid by government & hence recruitments conducted by these banks are advertised in newspapers to reach everyone.Also the number of vacancies are allocated among various categories (Gen/ OBC/ SC/ ST)
* Private banks are not govt-owned, so they do not have any category reservations. Mostly these banks pick up candidates directly through campus recruitments,referrals, walk-ins or through consultants.If the vacancies are more they may announce publicly, like ICICI Bank & Axis Bank – which were conducted recently.
Q: Will there be any differences in salary?
A: Public sector banks pay Rs.7200-19300 for Clerks & Rs.14500 – 25700 for PO posts (salary increased).The payscale is fixed for different scales & salary would increase as you get promoted to higher scale.
Private banks look for qualifications, experience & knowledge of the candidate before fixing salary.So it could be on the higher side & moreover they prefer MBA grads
Q: I have been selected in a public sector bank & private bank.Which is best to join?
A: There may be slight differences in recruitment & payscale but the job is almost similar in public and private banks.The banking industry is getting competitive & inorder to maintain growth – sales targets & pressures are common in both, as in other fields.
So choose a bank that provides you with good growth opportunities & not by the amount of work you have to do.
