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.
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Like!! Great article post.Really thank you! Really Cool.
Yeah
Your absolutely correct
Hi all,
Ok,,.. We are discussing about Public Sector Job and Private Sector jobs specially in Banking sector. Many say that Public sector is best and some in favour of Private banks. Isn't?
As per my openion its totally personal perception and feelings. I would like to devide people in 3 diffarent catagory then you find in which catagory you exactly fall on. Then it will be very easy to get your perfect direction i.e. Either Public Sector or Private.
There are Certain people who wants to prove themselves and always active to work hard and to get success. They want a higher growth, salary in terms of their dedication to the work. They are very energetic and broad minded. They are also less emotional more practical. So if you are one of them then I will suggest you to go for Private Sector Banks. Because there you will get adequate upportunities and Perks in your career. And finally you will get a job satisfaction too. The salary will be more and you can go up and up everytime.
The Second Catagory people are those who want a moderate Pressure in work and of course good salary. They are very prestige oriented, Power Oriented, they can't tollerate bad behaviour of their Seniors. They want a job sequirity and a peacefull life. They are emotional and very sensitive to others behaviour. They agree to prefer Prestige and power than enything else. If you belong to this catagory, then I would suggest to go for a Govt job, Public Sector Bank job or Civil Services etc etc.,..
The Last catagory people are those who doesn't want to do anything but want money to earn. They always look for shortcut. For them I would Suggest to go for "Change Your Psychology to adopt yourself in 21st Century" and then i am certain you will come any of above catagory.
I am a software engineer, getting good salary but still i am not satisfied,,.. because of the working culture of the organization. Here in our office out of 1000 employees 990 are s/w engineers and the rest 10 are Security Guards. Till today I am confused how we are getting prestige as an engineer. So I always feel why after working hard to build a good career we are still working from 9am to 11pm(may be longer if client requires). So I decided to go for either civil service or Banking Sector, where probably I can get what I want in life.,
Please Comment on my Openion.... I wish you must find youself within the 2 categories that i described above... But avoid to fall in 3rd type...:)
Hi every1, I completely agree to what Soumya said and I think govt banks have a genuine process for selection and promotion, whereas in pvt banks, the promotion process is not genuine, preference is given to people who are good at buttering and liked ones, but govt banks have only 2 major problems i.e low salary and transfers if you want promotions, if these problems are solved, then govt banks would be best place to work with. I hope for increase in salary scales in govt banks in coming years. BEST OF LUCK!!! for those who are preparing for govt bank exams
Hi Every Body I am a private bank employee. Manager. I would suggest to join a PSU Bank. Because there you will get recognition for banking job and other responsibilities. In private banks all credit goes to How many CASA you have sold or How many life insurance you have sold, with no credit to banking operations, its better to be an insurance agent rather than becoming a private bank employee. you get much more respect being a PSU bank employee. As in my case we get regular thrashing from top for the same reason as most junior employee get for not be able to meet Insurance selling target. And as per recent status getting selected in a PSU is much more harder than Private sector, so the what is harder to get is sweeter to get. PSU Banks review there salary and will be at par with private bank. I think apart from Job responsibility we also have family life and a peace of mind if you work in PSU which is rather impossible in Private sector. I sugest join PSU bank or stay with othersector such as IT/ITs
It depends solely on you which to join,why do we only negatives of everything?There is a saying...`bloom wherever you are planted` in other words plant yourself where you want but just BLOOM my friends thats what is required of us.
If u have accidentally chosen ur carrer and landed up in a Bank then it doesnt matter which bank u are in, u will never be satisfied, however if u have prepared for what u want and then have got an opportunity to work in a pvt/psu bank, u are the ulitmate judge. There is no doubt that psu banks have security of job but i must stay more pain more gain, in pvt sector this proverb holds true however in a psu bank, no matter wat pain u take or dont take u will get a average gain. job in psu bank is an investment in debt securities and in pvt banks its more like pure equity, choice is urs
HI...........
I THINK THAT PSU BANKS AS WELL AS PRIVATE SECTOR BANKS BOTH ARE BEST AS JOB. IT COMPLETELY DEPENDS ON ONES PERCEPTION WHETHER U WNT 2 JOIN PSU BANK OR PRIVATE BANK. IF U WANT JOB SECURITY THEN THERE IS NO MATCH OF PSU BANKS BUT IF U WANT FAST FORWARD GROWTH IN UR CAREER THEN PRIVATE BANKS ARE THE BEST. MOREOVER DUE 2 STIFF COMPETITION PSU BANKS R ALSO PUTTING PRESSURE ON THEIR ALL LEVELS OF EMPLOYEES..........
FIRST OF ALL BE EMPLOYED WITH ANY BANK AND PERFORM UR LEVEL BEST TO REACH THE APEX OF UR CAREER WHICH WILL TRULY SATISFY U............
ALL THE BEST 4 UR FUTURE CAREER IN BANKING.........
REGARDS
NILESH KUMAR
ICICI BANK PO
ASSISTANT MANAGER JMG1
i thnk dis reservation excuse is nli fr the lossers those who nt get selected put the bleme dat seats given under reservation.....so plz dnt gve dis pesky excusses....
as far as joining is concern so i thnk its completely a indivdual prority......if we work for 15 byrsw wid a private bank so what ll b our market value but if sum1 is in psb so still remains same at all the time .....so far promotion is concern if we see in the brances hw many pplz get promoted even lots of them retired just as a head cashier.nw days psb rcrut frm top b school fr scale 2 so hard 2 compete them.....so make ur choice wisely