Private sector bank Essay Example for Free

insular sector banking company Essay1. Difference of recruitmentPublic sector banks recruit mainly through bank exams and state-supported notices. Private banks, on the some other hand, prefer campus placements and referrals. For entry level jobs too, private banks usually go through campus placements. You would seldom find a unexclusive notice issued by a private bank for recruitments.2. Difference of vacanciesPublic sector banks go by the vacancy rules laid by the government. There is a certain segment of vacancies reserved for OBCs and SC/STs. There be no reservations in private sector banks. The reservations make it harder to find a job in a public sector bank.3. Difference in growthOne of the banes of public sector banks is slow growth. If you get recruited at the entry level in a public sector bank, you would take forever to reach the higher levels. There are certain rules for promotion and salary is fixed according the level you are working at. Promotions in publi c sector banks are usually not done on merit, but other criteria laid down by the government.On the other hand, growth can be warm and robust in a private sector bank job. In the private sector, you get promotions on merit, and if you are good, sky is the limit for you.4. Difference in working environmentLargely, the working environment of private and public sector banks is the same. However, private sector banks are generally more than competitive than the public sector banks, although that situation is changing fast. In a private sector bank, you usually have to meet tough targets, and stand by to the deadlines. You could be working longer hours very often in private sector banks in order to meet your targets and deadlines.The environment is more relaxed in a public sector bank, but that by no means implies you do not have work in the public sector.5. Difference in apply platefulLargely, the pay scale in private and public sector banks is the same. However, according to rece nt studies done on the field, it has been seen that public sector banks pay more compared to private sector banks, when the working hours are taken into consideration.However, since the growth in public sector banks can be slow, the advantage of higher pay scale is usually negated. As for the question, whether to work in a private sector or a public sector bank, the difference between both the sectors is fast diminishing. If you have a choice, go for a bank that offers opportunities for growth, which could be a public sector bank or a private sector bank too.