Public Sector being a Guarantor of Job Security is a Myth

Its interesting to see the all the comments. Frankly its a never ending debate "Private sector vs public sector: which is best". Both has its pros and cons. But Overall one can conclude post 2008 that life in public sector is better then private sector in long run. Why? Life is a marathon and not a sprint or jump. So one needs to look his career future for a span of 33 years atleast till age of 60 (especially for middle class families).

A Government employee can be sure from the date of joining that his job is secured till age of 60. But private sector works on "perform or perish" (this 3 words are very difficult and dangerous in private company trust me). Its very difficult for someone to achieve every goal (many times unrealistic) set by his company throughout a period of 33 years of job life. Although there are some good private companies who provide good job culture and also job security, but very few in number.

Most private sector employees in India is from IT. Trust me in IT at any moment, the world can turn upside down for you any moment. I have been working in IT for past 6 years and know the difficulties faced everyday. No stability!. You can go abroad in IT, but even with a slight hit of economic downturn, you can loose your job.

So IT will provide you good fortune including onsite in the beginning of your career (say for 10-12 years) but as you grow old, your job becomes less secured everyday as your employer will try to replace you by someone younger albeit cheaper.

I work as clerk in PSU bank and I guess my life is so much easier than officers at bank as I work from ten to five. Promotions are there depending on degree and clearance of internal exams. It is comparatively easier. My fiance works in private sector in night shift in finance stream and doesn't get time to take care of himself. My sister is in I.T and hardly gets to take breaks if the work is heavy and critical. And yet private sector guys can pursue certain passion and set up a small business of their own.

In public sector you get a little quality time but obviously not in certain PSU's where we have to work for 10 to 12 hours. Even if you want to earn some extra income, you can't do that in PSU. Challenges are very less in PSU and it is monotonous sometimes. Every job has its own difficulty. And life is sometimes not fair. Opinions differ. My sister does not prefer government job even if it seems easy because she is a risk taker and loves challenges. I regret working in bank sometimes as I am not a people oriented person.

I would rather work behind the scenes than dealing with bad mouthed customers. Very soon government sectors might have to compete with private sectors. Trend is always changing. PSU might have to change job rules to be on par with private sectors. This might happen in the future. No job is a rosy job! I think one should live and save and create buffers in times of unknown difficulties that might hit any time in thus changing trends of our times!

I guess it is more of what one is interested in, for example if an engineer is to work in a bank there will be a lot of dissatisfaction, but for a management or commerce guy PSU or any bank will give better satisfaction.

Public sector is always a guarantor of job security, it's not a myth. If the employees of public sector will loss their job without committing any crime, they will get lots of money (in the form of VRS or one time settlement).

Guys!

I want to ask one thing. Does a Government Job would make me able to earn quite good till I retire at old age or should I take my Life policy of 'Work hard and gain hard' and should go for private jobs so as to earn so much that I would enjoy my life after 40?

I worked in a PSU now working in big MNC. As far as I think government job is best and people in PSU's not lazy in fact they are smart and talented. If you choose private sector you have to go on switch your job for career growth and switching job is not an easy task.

The main premise of private sector is that those who work hard will get lucrative or higher package from those who don't as we look to other side of wall government job provides ample time to make our leg free but its make a lathagic.

Hi friends I am a B.Tech Electrical Engineer having two year experience. Actually government Job is best by above discussed. Finally I joined a government job that is primary teacher of state government Odisha. Thanks.

All those people working in govt jobs will you send your kids to govt school. Do you travel by govt bus? How about visiting a govt hospital?

If you think you are a really talented and can be pro-active throughout your life even your personal life is under turmoil and want to be rich ASAP. Then go for Private.

If you want life to be smooth, not much expectation from life or salary. Want a peaceful life without stress then go for the public sector.