Understanding The Difference Between LIC AAO, Bank PO, SSC CGL – Which One Is The Better Job For You
Job profile of LIC AAO:
A LIC AAO job involves administrative work, which includes:
- Formulating new schemes, inspecting policies
- Managing and filing claims, client interactions
- Coordinating with other departments, provide assistance
- Perform any work specified by department head or administrative Officer.
Job profile of Bank PO:
In addition to administrative work, PO also does following:
- Provide services to customers
- Enhance business of the bank
- Handle cash activities at the bank
- Clearance of Payments
- Manage accounts of customers
- Official communication
Work Pressure:
Though AAO is more administrative work, PO in addition to administrative work also deals with customers.
But no customer dealing does not imply stress-free job when you are working in a big organization.
Working hours:
In LIC there is 5 days working in a week. While in Banks recently 2nd and 4th Saturday are declared holidays.
Salary & Allowances:
A Bank PO receives Rs 34 – 38,000/ month (in-hand) while LIC AAO gets around Rs 43-45000 /month, which is under revision.
The basic pay of LIC AAO shall be Rs.42, 000 (existing is 17,000) as per the proposed revision in pay scale.
But the salary negotiations for banks & LIC happen once in every 5 years, the current difference will continue between the two for a long time.
Benefits that LIC AAO provides are Defined Contributory Pension, Special Allowance for passing Actuarial Examination, Gratuity, LTC, Cash Medical Benefit, Group Mediclaim, Group Personal Accident Insurance, Group Insurance, Vehicle Loan (2-wheeler/4-wheeler) as per rules.
Transfer & Promotions:
Both are transferable jobs, you may get transferred every 3 or 5 year. But LIC has most branches in cities and towns while Banks are also located in rural areas.
And transfers are mostly made on seniority basis in banks and LIC. However, there could be some relaxations for women employees though which entirely depends on the sanctioning authority.
Future Growth:
In Banks you are eligible for Promotion after 3-4 years but in LIC it takes at least 8 years to become eligible for promotion.
You first join the bank as PO then Assistant Branch Manager – Branch Manager – AGM – GM- and further in scale II, III IV cadre.
LIC AAO can become AO – ADM – DM – ZM but promotion policy in LIC is not proactive like in banks.
Thus both have their own pros and cons. If you look from salary and personal life and work angle, it is certainly LIC AAO which scores more but in terms of promotions, it is Bank PO which is much better than LIC AAO.
At the end, each job has certain qualities.
Promotion in bank Po
The salary difference between bank PO and LIC AAO
The salary difference between bank PO , LIC AAO SSC CGL
