Private bank Jobs or Public Bank Jobs

People who want to make a career in the banking sector are often perturbed by the fact that whether they are applying for a private bank or public sector bank. There are lot of differences between the two types of banks. The private sector banks conduct the recruitment mainly through campus placements in the leading educational institutes across the country. However, they also advertise the vacancies in newspapers and websites. The nationalized banks are currently going on a major recruitment drive and are recruiting large numbers of people at various levels. The examinations for these posts are held at national level at various centres across the country.

A major difference between the two types of banks is in public sector Banks you are assured of a more secure job than in private sector banks. Private sector banks tend to be very performance based and if you are unable to meet targets, there is every chance for you to be removed from the job. Public sector banks on the other side provide their employees considerable lengths of time to pick upon the nuances of the jobs and are rarely fired unless the employee is considered totally unfit for the job. Moreover these jobs offer a lot of perks to their employees. These include steady income, pension benefits, availability of loans at lower interests and higher interest for deposits.

On the other side, in spite of some drawbacks the private sector banks offer higher salaries than public sector banks. Even though every private banking organization has its own set of rules they tend to be more flexible than public banks. This ensures faster growth and greater pay hikes which are often performance based. Whereas the pay structure in public sector banks are lesser and the pay hikes tend to be gradual. Growth in the organization is usually according to the level of seniority. This means in spite of good performance, one cannot always expect a promotion if he or she does not have the right seniority level in terms of time. Hence, both the private and public sector bank jobs have their own advantages and disadvantages. Therefore a person needs to prioritize their needs, skills, preferences before choosing the type of bank he or she wants to work.

To conclude, a job in public sector bank means, almost a secure job for a lifetime. On the other side, the job in private sector bank do not have the job security and liable to be removed at any time on one’s career if he can not deliver the results