UIIC AO VS SBI PO
Which is the better career option among the two: Insurance or Banking? The fuel never runs out from this topic and its always up for debate.
Banks prompts people for loans and deposits whereas Insurance as the name suggests makes you feel secure.Fundamentally the two jobs are different. But their examinations have striking similarities viz a viz paper pattern, difficulty level, syllabus etc. This has enabled the large exodus of banking aspirants to insurance sectors.
Let us now take a closer look at both the profiles:
UIIC AO vs SBI PO #1: Job Profile
UIIC AO: Job Profile
As an AO in UIIC, you are required to do administrative work, this would include the following
- 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.
SBI PO: Job Profile
As a Bank PO you are expected to:
- Provide services to customers
- Enhance business of the bank
- Handle cash activities at the bank
- Manage Clearance of Payments
- Manage accounts of customers
- Official communication
UIIC AO vs SBI PO #2: Work Pressure
- UIIC AO is a lower level managerial post. After joining you are allotted one/several department and the onus for getting the work done lies on your shoulder. You are taught human resource management, finance, project planning and execution. Scope of work includes underwriting, policy servicing, Marketing, IT, Actuarial, Investment, Audit, etc.
- SBI PO’s work includes General Banking, Administrative Task, or any other task bestowed by the senior management from time to time. As a PO in SBI, you will undergo rigorous training to understand the nitty-gritties of Banking and trained for accounting, marketing, investment, billing, finance, human resources, forex, agriculture banking,general banking.
- Work pressure wise the only differentiating factor is Customer Engagement. As a PO you have to interact/bring in new customers, however as an AO you are not expected to do that.
UIIC AO vs SBI PO #3: Working hours
- UIIC follows a 5 day work week pattern, enabling you to party/utilize the weekend for productive tasks.
- All Banks, including SBI have recently started a new policy according to which, 2nd and 4th Saturdays of the month are declared holidays.
- This means you miss out on two free holidays in a month and 24 holidays in a year. This is a huge difference when compared on an annual basis, you get close to a month off while working for UIIC as compared to Banks.
UIIC AO vs SBI PO #4: Transfers
- Both AO and PO are public sector jobs, making transfers a necessary evil in this comparison.
- The transfers mostly take place every 2-5 years.In both Organisations, transfer is on the basis if seniority/promotion.
- The plus point with UIIC AO is that most UIIC branches are in city as compared to SBI (which are also located in rural areas). So if you are an AO, you will spent most of your time in cities with a decent lifestyle.
UIIC AO vs SBI PO #5: Salary
- As a PO in SBI, you will receive Rs. Rs.40 – 45,000/ month.
- As an AO in UIIC, you will receive Rs. 38 – 42,000/ month.
UIIC AO vs SBI PO #6: Perks and Benefits
UIIC provides the following benefits:
- Defined Contributory Pension
- Special Allowance for passing Actuarial Examination
- Cash Medical Benefit
- Group Mediclaim
- Group Personal Accident Insurance
- Group Insurance
- Vehicle Loan (2-wheeler/4-wheeler) as per rules.
SBI provide the following perks:
- Contribution Pension Scheme/New Pension Scheme
- Medical Aid for self (100%) and for family (75%)
- Home Travel Concession/ Leave Fare Concession
- Concessional interest rates for Housing/Car/Personal Loans
So , as per this criteria, both the posts are approximately equal.
UIIC AO vs SBI PO #7: Future Growth
Promotions in UIIC happen every 3-5 years in the following scale:
Promotions in SBI happen every 3-5 years in the following scale:
- Bank PO
- Assistant Manager
- Branch Manager
UIIC AO vs SBI PO #8: Final Verdict
Thus both have their own pros and cons. If you look from salary and personal life and work angle, it is certainly UIIC AO which scores more but in terms of promotions, it is Bank PO which is much better than UIIC AO. Here’s a list of Pros and Cons of both UIIC AO and SBI PO.
- 5 Day Work Week
- Limited Workload
- Urban Postings
- Good work life balance
- Zero Customer Engagement
- Better IT infrastructure
- Low and long promotion cycles.
- Less exposure to market conditions.
- Hence less chances of personal growth.
- Lower salary than Bank PO
- High promotion chances
- Low Transfer cycle
- Overall exposure
- Better Salary
- Lower loan rates
- Rural Postings
- 24 Less holidays in an year.
- Customer Dealings