Factors like job security, work-life balance, retirement benefits and social status are among the key reasons why many people prefer government jobs
For jobs across both Central and State governments, there is a heavy rush of students. This happens even when there are now plentiful opportunities present in the private sector. It makes us wonder why so many people prefer government jobs. Let us delve deeper and try to identify the key reasons.
Attractive salary – Pay packages and perks have improved significantly across government jobs. In many cases, the payout is better in comparison to a similar job in the private sector. This has happened with the 7th Pay Commission. The government has now approved the 8th Pay Commission, which will make government jobs even more attractive. It is estimated that salaries could increase up to 30%, as per the recommendations of the 8th Pay Commission.
Retirement benefits – Many people prefer government jobs, as they have a good pension scheme and other retirement benefits. In comparison, an individual working in the private sector benefits largely from only the provident fund and gratuity amount. These funds need proper investment, whereas there are no such hassles with the pension system.
Job security – A government job is usually considered more secure than a job in the private sector. An individual working in the private sector may be removed at short notice. Something like this is generally not seen in government jobs. As such, job security is one of the key reasons why many people prefer government jobs.
Matter of prestige – In many communities, government jobs are viewed as a matter of prestige. Those in government jobs often get more respect in society. This is especially true for high-ranking government positions such as IAS, IPS, public sector undertaking jobs, etc. Social status and prestige are a key reason why many people choose government jobs over private sector jobs.
Reservation benefits – Access to reservation in government jobs makes it easier for many candidates to lead a better life. Reservation for SC, ST, OBC and EWS is a key reason why government jobs are preferred. It is estimated that around 50% government jobs are filled via the reservation system. In comparison, the private sector currently does not have any reservation system. Selections in the private sector are based purely on merit.
Work-Life balance – As work timings are fixed, most government employees have a relaxed work experience. This is different from the private sector, where employees may be asked to work additional hours without any overtime. Moreover, the number of leaves is also a lot more in case of government employees. The stress of performance and achieving targets is also relatively less in government jobs. These factors explain why many people prefer government jobs.