Government jobs vs. private jobs has been the topic of debate since eternity. While most people believe that a government job is all you need, there are some people who argue that private jobs make you more dynamic in your approach towards life.
In many countries, especially in India, and other third world countries, government jobs are given holy respect. Needless to say, a government employee is hugely revered. However, it’s not as if the private sector doesn’t have a charm of its own.
So, via this article, we try to find closure to the age old debate of government vs. private jobs. We’ll also discuss which sector will suit you more, depending on your skill set and personality. Take a look:
#1. Getting There
Government jobs make up to 2% of the employment sector. Gone are the days, when government jobs used to be the only option and the government used to be the biggest employer. Private jobs form around 30% of the employment sector- a data that has boomed exponentially over the last decade or so. Having said, it is extremely tough to get a government job, especially of higher cadre, due to the unavailability of many vacancies. It is comparatively easier to get into the private sector due to a huge demand of employees. Also, there are a number of exams that one has to take before making it to government offices. There is no such structure of exams for employment in the private sector.
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#2. Growth
Okay, so let’s discuss something where a government job doesn’t have an upper hand over the private sector. Government jobs are characteristically slow, and so is the growth of an individual. It is apparent that growth in the government sector is only possible via promotions which happen only through the years. In the private sector, however, there is quite some scope for rapid growth of an individual. The private sector looks for hardworking employees, and if employees perform at par the expectations, they have chances of quick ascension. So, naturally, someone who is talented and hardworking should consider the private sector as it provides rapid professional growth.
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#3. Salaries
Government jobs used to be lucrative because they provided the best salaries to their employees. However, that trend has long gone. The private sector, with funding from their billionaire owners, has become very capable of providing handsome salaries to their employees. In fact, over the last few years, the private sector has been giving more money to employees than the government sector.
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#4. Stability
One of the reasons that your parents will instantly vouch for you to take up a government job is because it is stable. Yes, government jobs provide a fairly stable life, as one is not under the constant threat of being laid off in the public sector. However, if we look at the recent incident of Cyrus Mistry being kicked out of the TATA group, we can say that even the top jobs in the private sector are not secure. The private sector demands performance and results and is also more prone to recessions. So, if any of these three things dwindles, many people come under the risk of losing their jobs.
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#5. Other Perks
Here, the government sector outshines the private sector. A government employee is entitled to several perks that include many holidays in a calendar year, LTC, vacation time among other things. Also, a government employee is entitled to a lifelong pension, so money flows in even after a person retires from his/her job. The private sector, on the other hand, seems quite demanding with lesser holidays and longer work hours.
In conclusion, yes, a government job is still kind of a big deal because of the simple fact that it brings stability to a person’s life and also assures a bright future. The private sector, on the other hand, provides options for quick growth and lucrative salaries, but that sometimes comes at an expense. Which is the better sector according to you? Let us know in the comments below.
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