Public Sector Strikes Back With More and Better Jobs
There used to be a time when public sector jobs were the default options for the young and the educated in the country. After the economic liberalization of 1991, private sector grew rapidly and started generating job opportunities galore. For the well educated, private sector jobs became the default option. Of late however, the public sector has struck back. Not only with more jobs but also with jobs that pay at par with the private sector and with exciting job profiles. Konark Singhal, CEO and Co-Founder of MockBank Learning explains more. MockBank is a digital test preparation company solely focused on helping public sector job aspirants in cracking the job entrances. Konark says- “There are a few themes we are seeing in this market. All of them point towards the maturing and deepening of the public sector jobs. Firstly, of late the job profiles have been becoming more and more attractive. RBI has started direct recruiting for its Grade B Officers. Last year, probably for the first time ever, SBI recruited MMGS-II and MMGS-III officers through direct recruitment. Previously these roles were only filled via internal promotions. Besides being very attractive job profiles, these jobs also pay very well in the range of 10-15 Lakh per annum. Consequently, lured by the brand name of RBI and high salaries, best of the students are preparing for these jobs. MockBank has atleast 50 IIT and IIM graduates who have enrolled for preparatory modules for these courses. Secondly, the number of public sector jobs on offer have gone up significantly, especially in the PSU BFSI sector. The whole rural financial inclusion push and retirements of existing employees are resulting in recurring and large recruitment drives by the PSU banks and insurance companies. LIC, NICL, OICL, NIACL, UIICL have all recruited in large numbers in the last two years.” Professionals are lapping up these opportunities. Says Vipul Bansal, a recently recruited Administrative Officer in National Insurance Company who prepared with MockBank- “I was recruited from my engineering college by one of India’s most prestigious software companies. However, I gave up that job and applied for NICL AO primarily because of better work-life balance”. Neha Singhal, another software professional preparing for banking and insurance officers posts says- “I thoroughly enjoy my software job. However, I want to do something that directly contributes to the well being and living standard of the masses. What better than service and LIC or SBI. Imagine the impact!” First principles suggest that this trend is going to become even stronger. In countries like Singapore, the best prefer public sector jobs. In India, we are still far away, but atleast we have started. The author Konark Singhal is CEO and Co-Founder of www.MockBank.com, a Bangaluru based online test preparation company for government/PSU jobs
