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People who want to make their career in the banking industry are always perturbed by the fact whether they should apply for a public or private sector bank jobs. Most of the recruitments for private sector bank jobs are done through campus placements and sometimes they do advertisement for available positions in the newspapers and their respective websites. According to a recent survey it was found that public sector banks off late has been hiring more than the private sector banks. And this can be proved by the fact that one can easily find the advertisements for openings in public sector banks as it compared to the private sector banks.
One of the main factors which often inspire people to choose a private sector bank job is the fact that they will have a secured job there which is not the case with private sector banks. If you are an employee of a private sector bank, and if there have been a downslide in your performance then there are less chances that you will be able to sustain in the job. But this is not the case for public sector bank jobs because they give sufficient time to their employees to improve their performance and people are very less likely to get fired until and unless they commit a major blunder. Many people feel that they can secure their financial lives through a public sector bank job. There are many perks that one can enjoy through private sector bank jobs. For instance the public sector bank jobs can provide their employee with pension benefits. Being an employee of a public sector bank, one can avail loans at lower interest rates and they can also get a higher percentage of interest for deposits. Many people state that once a person has got a public sector bank job then he does not need to worry about issues like job loss. But there are certain downsides related to the public sector bank jobs as well.
As far as the pay packages are concerned one can notice that the salaries offered by the public sector banks are lesser than that of the public sector banks. Even the hikes in the salary can be quite less. Opportunities for growth in the career also depends on the basis of seniority level, so even if the person has given excellent performance during the year then he cannot expect a promotion if he does not have the right seniority level. Off late it has been noticed that a lot of job opportunities are created by the private sector banks and hence many people have opted for them. Even though with private sector banks, one cannot be assured of job security but they can rejoice about their higher pay package. Both the private and public sector bank jobs come with their own advantages and disadvantages, therefore a person needs to prioritize their needs and take the decision accordingly. If you feel that job security is more important than pay package then public sector bank jobs can be a good choice for you.
