A common question among students who are about to finish their education and embark on a new profession is whether to work for the government or for a private Job. According to the Government of India’s Labour and Employment Report, the organized sector, which includes both private and government sectors, employed 2.9 crores, people, at the end of the financial year 2010-11. With the growing number of private and public sector jobs, students want assistance in determining the best course of action. Both private and government positions offer advantages and disadvantages; the decision is yours to make. The obvious counter-argument is that private jobs pay more and are more secure than government jobs. This isn’t all, though. Let’s take a closer look at this comparison with some analysis.
Jobs in the government sector are more competitive.
Many people aspire to work for the government, but due to a lack of vacancies and stiff competition, they may not be able to do so. To get one, you’ll need to devote enough time to exam preparation and meet other requirements. There are more work opportunities in private enterprises, and people have a better chance of being hired.
This is one of the most important considerations in making a decision. In the private sector, the latter may choose to decrease the staff due to market conditions and corporate growth. Private enterprises have fired a large number of employees in recent years especially during the recession to decrease costs. You can’t guarantee that your job will still exist in five years. Government positions, on the other hand, are more stable. People are only fired if there is a serious performance problem or if they are involved in behaviors that are utterly inappropriate. With a government job, people feel more secure and can better plan their future.
A more favorable retirement policy
Unlike private sector occupations, government jobs assure that an employee’s future is safe even after retirement. When working for a private company, a person must plan for and take care of his or her retirement. The new pension plan ensures that an employee’s lifestyle and standard of living are preserved once they retire. Additionally, certain government sector professions in banks and railways continue to provide advantages to employees such as travel, lodging, and medical care long after they retire.
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Relocation does not imply a job change.
Employees in most government occupations, particularly bank jobs, have favorable re-location procedures. In contrast to private enterprises, where this is not possible, an employee can migrate to a new location while working for the same bank. This flexibility is beneficial for people who want to move closer to their parents or relocate after marriage.
National and public holidays
Government jobs have more vacation time than private-sector jobs. Government offices in India declare holidays for practically all festivals, however, private businesses do so in a limited way. While some offices allow discretionary vacations, others have a set number of holidays per year, such as ten. Additionally, if you work for a foreign-based MNC, you would not be entitled to Indian vacations. In this situation, government positions allow you to participate in most of your favorite events without sacrificing your vacation time.
More leaves and more flexibility
In comparison to private jobs, government jobs have a superior leave policy. In the government sector, there are more leaves and more types of leaves. Also, unlike private jobs, the permission of leaves is more flexible and employee-friendly. In most private companies, you will be given no more than 20 vacation days each year. The approval of leaves is also influenced by the workload and backup resources available.
Improved work-life balance
While government positions have set hours and shifts are difficult to change, most private jobs have flexible hours and shifts. The administration, on the other hand, is attempting to break the shackles. A few years ago, the RBI implemented flexible working hours for their bank officers in order to achieve a better work-life balance.
In comparison to private-sector jobs, government jobs also have shorter working hours. The majority of government offices have a 7-hour workday, whereas private businesses often have a 9-hour workday. In addition, unlike government offices, the number of login hours is strictly enforced. As a result, a government employee can work from home and spend time with family.
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Work from home
Many private companies do provide this choice to their employees. You can request and choose to work from home when you are unable to physically be present at the workplace. This is useful if you’re traveling or if you’re not feeling well enough to go to work but still want to work from home. Though this option is not available in government jobs, people are unaffected because they can afford to take vacations or sick days because they have a larger number of vacation days.
Salary and promotions
Despite the fact that private corporations pay more, government positions come with a variety of benefits, including housing, transportation, and medical care. Employees are also eligible for a variety of benefits. When all of the additional advantages that come with a government position are factored in, the wage disparity may not appear to be as significant. With the advent of the 7th pay commission, the government is also attempting to bring public sector salaries up to the line with private-sector salaries. In the private sector, you are evaluated and promoted on a regular basis based on your performance. Promotions in the public sector, on the other hand, are based on a variety of factors such as years of experience, internal examinations, and so on. However, unlike the private sector, where promotions come with a gap in employment, the rise that a government employee receives is significant.
The stress level for work in the government sector is lower than it is in private jobs. This is due to the fact that the public sector works toward long-term objectives, and job pressure changes greatly depending on the time of year, such as the end of the fiscal year or festivals. The private sector, on the other hand, is more concerned with short-term objectives and meeting deadlines. These deadlines might sometimes increase an employee’s level of stress.
These are some of the key distinctions between government and private employment. It’s now up to you to make your decision. Both private and government jobs have advantages and disadvantages, and regardless of the sector, you will have ups and downs in your career. Whatever option you choose, it is critical that you make a sensible choice.
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