With a population of 132 crore and crores of employees, not everyone is lucky enough to grab a government job so they have to settle with working in private firms. After years of studying everyone wishes a career in his field of studies that not only pays good enough pay their expenses sometimes funds their foreign trips. Today we will evaluate the perks and disadvantages of a government sector job and private sector job in India.
In Government jobs there is job security alike in private sector. Once you get into government job you receive salary and increments on time. Whether the company is running in profit or not you don’t face suspensions etc. Whereas in private sector we have seen many big MNC’s like TCS, Tech Mahindra and other big giants in past removed 56000+ employees. Whereas government these days constantly trying its best to create more job opportunities by its new initiatives like Make In India, Digital India or Direct FDI has allowed many big corporates to invest in India and create lakhs of new jobs.
Government jobs are highly paid than most of private job these days. Many Government sector companies like Indian Oil Corporation pays really heavy salaries around Rs. 8 – 10 Lac Per annum to graduates on fresher level. People on higher ranks like in department of foreign affairs, Defence etc. Get paid for their official trips and according to sources are allowed to take along luggage upto 1400 kgs. You get the same salary either you work for an hour or extra time. Though extra time pays extra bucks too. You need fear for your salary each month alike in private jobs , you receive your salary on-time each month.
Whereas in Private Jobs you get fixed salary and till you don’t prove to be valuable employee to the company you get fixed increments and no promotions. The promotions sometimes take years even paying best of your effort and time to company. In private jobs shifting comapnies with time often pays hike in salary. If the company is not running in profit you may fear for the salary of next month that is not an issue in government job.
By Career Progression we may promotions, responsibilities or maximum level of designation you may expect from your job. While in governemnt job there is a strict criteria of entrance based on experience, qualification etc. You may get promoted to upper seat even with year of experience and new fresher may get that seat but of course your salary gets rising.
Whereas in private jobs the promotions may take time but years of experience is given more value over your education . Today in many big MNC’s there are number of persons with less education qualification than their junior’s but on higher positions. In private sector jobs most of the time you have to start from minimum position as per terms that is not a case in government jobs.
Perks & Bonuses
Though you may not receive regular increments in government jobs however the pay commissions , incentives compensate that. Whereas in private jobs you get a fixed bonuses or pay commission as part of any project that helps company grow. However if you’re smart enough at your job and know the tactics to get commossions and bonuses you may get big money as part of your role in private sector jobs alike in government jobs.
In government jobs you receive not regularly sometimes another year or sometimes after 3 years. But we have seen huge increments in government jobs .
Whereas in private jobs your increment strictly depends on current condition of the company. If the company is running in profit you receive increment but if company is constantly running in loss timely receiveing your next salary is big thing. People in government job doesn’t fear this and enjoy a comfortable life.
Retirement Life Benefits
Government Department employees who have joined before 2004 will enjoy fixed pension system whereas for those who join later the government have created new NPS pension scheme which is type of contributory pension system in which monthly some part is deducted from your salary and some part is added by central government as contribution , this amount is invested for long time and a very big corpus is created. However this is less beneficial than previous pension scheme.
Private jobs these days follow the same guidelines from central government in form of EPF (Employee Provident Fund) where some part is deducted from salary and some part around 8% of your basic salary is contributed by the company and invested and is paid back on retirement in small chuncks or at once depends on you . In this way the retirement life benifits have become almost same in both cases.
In government jobs you have fixed working hours i.e 8 hours. Noone can stop you for staying after your working hours. However each government job is a service to the country and its people . We have recently seen government employees working late on instructions from central government in case your work is pending. If you are regular to your job and finishes them on-time you need not worry. Additionally there is less work load in government jobs as seen in private sector jobs.
In private sector jobs you may need to report to the office at odd hours or stay for long even after your office timings. The office stress can ruin your life. If company isn’t running in profit or regualr losses is faced the employees are targeted first and made to work for extra hours.
Government is really very generous at holidays . Government employees enjoy many holidays yearly and government holidays being add on to that. Even some governement departments like Reserve bank of India provide year long holiday for relaxation and some provide you temporary leaves in case you want to go for higher studies and salary still crediting in your account. In addition to this government deptt. Provides matarnity leaves along with bonuses and extra allowance to mothers.
While you may not get enough holidays in private jobs . Sometimes you may have to work on saturdays or sundays , work from home too. No company allows its employees to go on temporary leave for higher study and get salary as well. However matarnity leave is a compulsion for them to provide.
Government Employess perfect work and life balance because of holidays various allowances etc. Fixed working hours, timely salary , vacation times , medical allowances etc. That the employee in private job can’t expect. A happy family is where a happy life starts, and a government job can add this to you. However there are some government sectors like India Army, Naval Services they have to relocate on irregular time, long time they cant see families but they’re on national duty and they consider nothing beyond the nation.
What came along with a government job is respect in the society irrespective of your department of work people pay you respect as governement official . Often you need stand in line and get you’re work done easily. Whereas life of private company is full of struggle from beginning till end.
Other Allowances like
Government employees get allowances like housing allowances , whereever governemnt relocates you , they provide you with decent accomodation in posh areas. You’re travel expenses are also covered by the government. Medical Expenses are fully covered in many government departments irrespective of your rank along with life insurance.
While in private you yourself have to pay for your relocation, house, rent, travel etc. Most of the companies don’e even cover the medical allowances and employees are even asked to get their insurance done on their own before joining. So government job is good at this.