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In our comparative analysis series, we are here with a comparative analysis on SBI Clerk vs LIC Assistant. According to the official notification, around 8000 LIC Assistant vacancies are available across India while the SBI is expected to fill 8,904 posts in clerical cadre in the organisation through the last recruitment drive. Here is an attempt of a detailed comparative analysis of SBI Clerk vs LIC Assistant in terms of their job profile, responsibilities, salary and career growth.
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SBI vs LIC: Knowing the Organisation
It is essential that one understands the organisation that one seeks employment to, inorder to make a sound career decision.
LIC( Life Insurance Corporation)
LIC is a public sector undertaking under the Government of India. An opportunity to work with LIC is no less than a lavish government job. The job profile comes with a lot of perks including secured job & future, good salary & allowances, and great promotions.
LIC Assistant is an entry-level position. However, after appointment, with experience of working or their daily schedules, the employee will get huge opportunities to prove the work qualities that can provide a promotion to them and can also help them to reach the senior post.
SBI(The State Bank of India)
It is one of the most reputed banking organisation in the banking sector. SBI Clerk Main is considered to be one of the toughest banking exam to crack. SBI Clerk Main Examination was conducted on 10th of August for the year 2019 and the SBI Clerk Mains Result 2019 announced on Oct 30th 2019.
SBI Clerk vs LIC Assistant: Responsibilities
1: What does the acronym "ATM" stand for in banking?
LIC Assistant Job Profile
A LIC assistant is supposed to do all the roles of a clerical staff like,
• Cashier
• Single window operator
• Customer service executive etc
• They will have to manage cash counters, processing and approving of the files as asked by the assistant manager
• Back office work
• Account related work
• Take care of customer grievances
• Reviewing of insurance documents
• Management of all the documents like sales documents, documents related to policies, claims, settlements, accounts etc
• Manage online and offline transactions
SBI Clerk Job Profile
Clerks/Junior Associate is required to assist customers and potential customers through various banking processes. They need to be highly confident and answer every query. They are involved in
1. Document Verification
2. Managing Single Window Counter
3. Attending to Government Treasury Work
4. Update Pass Books
5. Issue Cash Receipts at Counters
6. Clearing and Transferring Cheques and Receipts as per request
7. Verification of Vernacular Signatures
LIC Assistant Salary
Basic pay of a LIC Assistant is Rs. 14435/- per month in the scale of Rs. 14435-840(1)-15275-915(2)-17105-1030(5)-22255-1195(2)-24645-1455(3)-29010-1510(2)-32030-1610(5)-40080 and other admissible allowances as per rules. Initial Basic Pay – Rs 14435 with a yearly increment of Rs 840 for 1 year
Other allowances
- Graduation Increment
- House Rent Allowance & City Compensatory Allowance
- Defined Contributory Pension
- Gratuity
- LTC
- Cash Medical Benefit
- Group Medi-claim
- Group Personal Accident Insurance
- Group Insurance
- Vehicle Loan (2-wheeler) as per rules
SBI Clerk salary
The SBI Clerk salary pay scale will be 11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110- 2120/1- 30230-1310/1-31450. This means an SBI Clerk (Junior Associate) will have a starting salary of Rs. 11,765/- with an annual increment of Rs 655/-.
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SBI Clerk salary vs LIC Assistant: Comparative Analysis
SBI Clerk
- Bank Clerk Job offers a stable and secure government job
- The newly appointed Junior Associates will be on probation for a minimum period of 6 months
- Growth rate could be very fast depending upon the performance of the employee
- The transfer policy is also quite relaxed
- Various medical and loan benefits
- Allows candidates to enjoy annual holidays
LIC Assistant
A LIC Assistant has to undergo training for a period of six months from the date of joining which can be extended up to one year. After the training, he will also have to complete a minimum of three years at the assigned places and no request for any change/transfer will be entertained. The promotions for a LIC assistant are time based. The employees are promoted based on their performance and years of experience.
The two core parts of the finance sector in the country, banking and insurance have now become a dream job platform for many of the government job aspirants. Each one has its pros and cons, so diligently decide what are your priorities are and decide to go for that job. But the choice is yours, and yours alone to make!
Whatever it is, Entri is with you every step you take. With the latest exam updates, loads of information, mock tests and other preparation material, you will be ready to ace any exam!
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