Public or Private Sector Bank Jobs – Which to Choose?


public sector bank jobs,govt bank jobs india,private bank jobs,jobs in private banks,jobs in indian banksWe came across this question recently while answering the doubts raised by our readers - To join a Public or Private bank? 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 20 Public & 15 Private banks in India but you would see more bank recruitments by public banks only(refer upcoming bank exams).Below are the reasons,

 

* 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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35 comments:

Nagraj said...

Public sector banks are always best,there is no option of choosing between public or private.
There is so many plus working in public sector like JOB SECURITY,LESS WORK PRESSURE,JOB SATISFACTION etc..
Private bank jobs can never really come near Public sector bank jobs.

aparna srivastava said...

public banks are best but i want to apply for both public and private. how can i come to know that is there any vacancies are available or not in private banks.

dz3nith said...

what d hell is going on here....
dere is no comparision in between public & private sector banks..
even a lame can tell you which to join after getting selected in both of them..
i request blog's admin to post some valuable information and not such craps..

Bank Jobs said...

dz3, The services of Public & Private banks cannot be compared, as both work differently.This info is limited only to their recruitment process & what candidates must look while choosing bank jobs.

shibi said...

Those who believe in hard work and adjust themself in any working environment,both public & pvt seems equal coz work is needed in both..only diff is in recruitment..and i think public sector conduct recruitment in much difficult manner which sometimes doesn't do well with the deserving candidates...

amit said...

no comparison at all , everybody knows private sector banks pressure and work environment, public sector is best option and secure one

Gagandeep said...

From my point of view, Public sector banks are better choice than private sector banks.If someone have option for both then he/she should go for private sector banks.

Anonymous said...

no doubt 100% public sector banks are the best option and job satisfaction,job security will be there...

rakesh said...

people think public sector best coz not for job security but for do nothing .. no kaam ..araam he aaram.. never think abt to give best service to ur customer but to think abt self..public sector only recruit young body not young mind

Nagraj said...

Hello man,what do you know about private banks.More than 80% of the jobs are marketing based in private banks.If you do not achieve the target,you are thrown out like a garbage.

WHAT DO YOU MEAN BY YOUNG BODY NOT YOUNG MIND?
Then why are these young minds are joining public sector banks leaving well paid jobs in softwares and BPO's.

PUBLIC SECTOR BANKS NEVER THROW OUT EMPLOYEES LIKE THEY DO IN SOFTWARES OR OTHER PRIVATE JOBS.

netaji said...

So far as work load and pressure is concerned both psu banks and private banks rank the same.Though salary and perks in psu banks are less compared to private bank yet the job security that govt banks provide is unmatchable.Job security is the main thing in any job.Today the government and psu banks are well aware that in order to retain talent the compensation package should be the best in the industry.Gradually steps are being taken. Hopefully positive results will be there within the next few years

Anonymous said...

wat rakesh said is correct.. i m wrking in a public sector bank from three years... i forgot all the things i learnt in btech and i m sure now i cant even succeed in any interviews because that is what i have learnt till now .. to do nothing sit till timings.. though pressure is there in private banks, talent will shine and it is more competitive and salary wise private banks are much high than these psb.. i prefer private banks to psb.... for those who have hard working ability and attitude private banks are best in packages... no one throws the person who has talent.. better to go for private

rajesh said...

working in public sector is somewhat less pressure than working in private sector.... in private sector they screw everyday... but considering selection process .... shibi is correct... as shibi said most of the deserved people not getting chances in the public sector selection process.... it is better if they review their selection procedure....

kiran said...

Bank jobs india site. It is very help to every body to get details about Bank recruitment.

I have got many details throw this site. Thank full to every body in working for this site.

Best of luck for all Candidates those who are writting bank exam.

Nagraj said...

I completely disagree with the option of joining private sector banks.

If you want to learn new things and be creative you should not join banks itself.

The type of jobs are regular repetitive work and after your learning process during training period there is not much to learn new things.It is a 100% regular repetitive work.THIS JOB IS ONLY FOR PERSONS WHO WANTS JOB SECURITY,LESS WORK PRESSURE AND DESCENT PAY(not huge salaries like softwares,BPO's etc)

Mainly you will not be sent out suddenly during recession or any crisis situation in our economy.

Kuldeep said...

Public sector Banks recruit candidates at the entry level(PO/ Clerks). i want to know within how much time frame a candidate promoted to the next level and to all subsequent level. also let me know the approximate salary that a person will be dawning at different levels in a public sector bank.

Anonymous said...

I'm working in a public sector bank. Those who thought that these PSU banks did not offer you to grow,are wrong.Ofcourse, salary may be less than private banks,but that is updated regularly every 5 years through Bipartite agreements. Dear friends, I worked for private sector for more than 5 years. But, right now I am in a PSU bank. Join the bank public or private, which you think will utilise your full potential and give you opportunity to grow.

Vishal said...

I agree with Naagraj. The popularity of both sectors can also be compared by having a look on the no. of comments for the recruitment of both sector banks. There is 0 comment on South Indian Bank recruitment & less than 10 in Axis Bank. Whereas any PSB recruitment is generally followed by above 20 comments. So, nothing left to say. PSB was , is & always will be the best.

rakesh said...

i dont know why few of my friend is screaming abt "JOB SECURITY , LESS WORK PRESSURE AND YES DESCENT PAY "... why dont u (Indian young blood) not thinking to capitalize the energy to change the banking sector work culture.. i m not against to join public or private sector but against to join with wrong mind frame... it is not good for our banking customer service prospective.

Musha said...

There is no doubt Public sector banks job are the best job than the private banks.I am telling from my personal experience that psu bank is best, I know during my joining in private sector bank how much work presssure was there on me as against my friends in public sector bank.

Nagraj said...

Hello Mr.Rakesh this topic is not about doing service to the banking customers.It is about joining Public or private banks jobs,which one is best.

A single a person or group of persons cannot change the work culture in public sector banks having so many branches nation wide.

If you really want to change the work culture,you itself can take initiative rather than telling others.

If you think private sector banks are doing excellent service,then you have forgot to notice the amount of money they charge for doing chotta(small) services.

Nishant...revolutionizing thoughts... said...

We need to understand that PSBs have an inherent duty of social inclusion as well and hence are definitely better than the private banks which focus on selected few and charge them higher for the petty services they offer.

Anonymous said...

I am now selected to a private bank. I am planning to join. But will I get a chance to get me to a public sector bank in the future...

sathish said...

i have been selected to clerical cadere in a private bank but the salary is not enough for me . Is there any possibility to upgrade my current position to higher position.if anyone koows tell me

ALI said...

Nw a days there is no much difference between PSB and PVT banks, but the job security and work hours(less comapred to PVT) are matchless when it comes to PSB,but the pace in growth may b slow compared to PVT Banks.In PVT banks the chances of getting recognised and moving to next level is faster.Both are good at their own places.Its upto us where we want to bbb........

Anonymous said...

santosh

my dear friend its my personal experience on joining private bank are very bad in treating there employees and put more pressure continuously after doing more than 11 to 12 hours i worked in private bank no hr policy no union to fight for employee just like we are exploited by sale pressure and work pressure after doing huge operation work i request please join public sector bank only.

shrikrishna said...

I agree with all u people that private banks give lot of pressure,nt only banks but their is great pressure in every privte sector whether it is an IT company or a bank,its really a happening oppurtunity to get selected in public bank,but this reservation for back n schedule classes gives a back for general category deserving candidates,

Anonymous said...

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

NILESH KUMAR said...

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

Anonymous said...

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

Siganglang Bosumotary said...

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.

Soumya Subhra said...

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

Anonymous said...

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

satya said...

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...:)

nag ch said...

Yeah
Your absolutely correct