Thursday, February 20, 2014

Difference between Government officer and Bank Officer Monthly Salary

This post is pointing to the different between the doing job in central government and bank jobs in india. As the title suggest, this post will show you the different between central government salary scheme and banking jobs salary scheme. As you know I have facebook group (with 5000+ members), some members were discussing that they are preparing for central government jobs only, not going to appear in bank jobs.

Difference between Government officer and Bank Officer Monthly Salary

Difference between Government officer and Bank Officer Monthly Salary
So, I and some more members found the curiosity about the reason for targeting central government job only. Because as per me, both are equal and safe job, permanent job, but I was wrong, when I try to find the reason, it was quite surprising. So, here is the few charts that you need to look which will clearly define the difference and the reason for why bank employees go on strike again and again.

Before going to the data and charts, I would like to tell you that this data are of December, 2013 and there is talks going on for hike in wage for both the parties by 7th pay commission. Here is the salary structure of government officer and bank officer in india with salary slip.

Difference between Government officer and Bank Officer Monthly Salary
On the above table, you can find the difference between government employees salary and bank officer’s salary (as on august, 2013) for stage 1,2, and 3 and JMGS I, MMGS I and II. Education Allowance, Staff Welfare/Maintenance Expenses and Newspaper subscription paid to bank staff, which is taken in to above calculation. Some banks are used to pay 15 litter petrol allowance (much needed), which is also taken in to account. Banking Clerks are having the biggest burden in bank officer, as per the above table, right? Because, a clerk in Central Government service earns a monthly salary of Rs.33,920, whereas the monthly salary of JMGS I officers is Rs.32,471 (both at the beginning of the scale). This is height.

As you can see the difference, for Stage one officer in central government they getting salary of Rs.54,780 and in bank officer (same level) they are getting Rs.32,171 monthly (almost 22k, huge). Same difference for the stage II officer and MMGS officer and stage III and MMGS III officer in bank and central government.

All have almost 20k/ monthly salary of difference, which is huge, (fir bank wale strike na kare to kya kare? :P). And if you want to join central government, then go for SSC CGL Exam. But as mentioned above, the 7th pay will have some relief for bank officer too; yes you have also good news. So, here is the expected (projected) pay scale of officer for 7th pay commission.

Projected Pay Structure for 7th Pay Commission

Projected Pay Structure for 7th Pay Commission

How the projected pay scale is calculated?

Well, as per the past maths, every new pay commission is having 3 time’s high salary then previous one. So, the entire factor is multiplied by ‘3’ and we got the new projected (expected) salary band for each scale officer in 7th pay commission. This will be applicable if and only If the pay commission continues the same formula again and again. But I guess they will continue, as it’s a election session in India, so they won’t take much risk to reduce it and to increase it, so it will be same formula.

On more, As per the news, Indian Bank Association (IBA) and United Forum of Bank Unions (UFBU) are going to meet on 3rd march, they are going to discuss about the long term hike in bank employee’s wage.

Hope this article is helpful to you, if you have any query, feel free to ask on comment, you can join the facebook group too. :)

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