Benefits of Government Jobs Over Private Jobs for BCom Graduates

After completing your BCom degree, a big question arises: Should I go for government jobs or private jobs? Both of them have certain perks, but government jobs have some special ones that seem attractive, especially for BCom graduates. So, let's see what really makes government jobs this popular and why lakhs of students are competing for them every year.

Major Benefits of Government Jobs for BCom Graduates

Read here the major benefits of government jobs for Bcom graduates over Private jobs:

1. Job Security That Lasts Forever

Once you have your government job, you are guaranteed until you retire at the age of 60. You cannot be fired without grave reasons and proper inquiry. In private jobs, any employee can be thrown out anytime without any reason because of company losses or cost reduction. During COVID-19, many private firms fired their employees, but government employees continued with their jobs and salaries. After three years of studying commerce, the next thing you want is the stability that government jobs provide.

2. Fixed Salary with Regular Increases

Government jobs are on a fixed scale of payment. The range for entry-level government jobs after the seventh pay commission is from ₹25,000-to-₹44,900 (basic pay) per month. The progression of salary happens automatically with increments of 3 percent every year, promotion after 5-7 years, and Dearness Allowance increases twice a year. Increments in private jobs are dependent on the performance of the companies, which often does not guarantee them. The amount of money you would have after ten years would be around ₹60,000 to ₹70,000 with increment and DA if you start with a basic pay of ₹30,000.

3. Pension After Retirement

The government employees receive NPS where you pay in 10% and the government adds another 14% in your name to make a retirement corpus. Private jobs offer nothing else than PF where both contribute 12% each. In government jobs, after 60 years of age and by retirement, the individual is still entitled to an income on a monthly basis, but private employees do not have such privileges.

4. Work-Life Balance You Can Actually Enjoy

Government offices work for 7 hours from 10 AM to 5 PM, including Saturday ( in some offices ) and Sunday (104 days off in a year!). Once office hours are over, you're free without any calls all night or holidays. Private jobs are charged for 9-10 hours a day, giving only Sunday, and constant email expectations. Such matching balances allow BCom graduate students to prepare for CA, CS, or higher study along with work.

5. Medical Benefits for Entire Family

There is health insurance granted by the government that covers employees and their dependents (parents, spouse, children) at an insurance coverage of ₹5-10 lakhs per annum. Treatment in government hospitals is free, while reimbursement is applicable in the case of private hospitals. Private jobs only offer ₹2-5 lakhs insurance that usually covers the employee only. In the case where a family member would need ₹3 lakh surgery, government jobs offer full coverage.

6. Generous Leave Policy

In most government jobs, 30 days Casual Leave, 20 days Sick Leave, and 15 days of Earned Leave along with holidays tap into that range of 65 to 85 for the years. Earned leaves not availed will be encashed at the time of retirement. In private jobs, an employee has to settle with around 15-24 paid leaves, which get a little more bitter considering that there is no encashment benefit.

7. Additional Allowances

Other than your basic salary, you get: House Rent Allowance (24-27% of basic), Dearness Allowance (which is currently 50%), Transport Allowance (which is ₹3,600-7,200), and Medical Allowance. So your basic with ₹30,000 goes to almost ₹55,800+ in-hand, which is nearly double! Private jobs barely give any allowances beyond basic pay.

8. Easier Loan Approvals

Banks take their employees low-risk, and thus provide house loans with interest rates lower by 0.25-0.5%, with larger amounts to spend, and even quicker processing. As a BCom graduate now employed with the government, an application for a ₹30 lakh home loan could be readily fulfilled within a few weeks. People in private jobs have to experience harsh verification and higher interest rates.

9. Social Respect and Status

Government employees enjoy great respect from society, more so in the smaller towns. These get better marriage proposals, pride for the family, and trust from the community. While respect isn't the only reason, it does count in Indian society.

10. Women Safety and Benefits

In fact, government firms provide 180 days of full pay for maternity leave, child care leave, and a safer and sound work environment with strict harassment regulations, as well as equal pay irrespective of the gender discrimination. The private sector offers maternity leave of 12-26 weeks at times, depending on the culture of the organization offering the employment and safety measures.

12. Retirement Benefits Package

Gratuities are given at retirement (₹10-20 lakhs), leave encashment, pension/NPS amount, Provident Fund with interest, and group insurance maturity. In terms of total, depending on your age, it can be sometimes up to ₹50 lakhs-1 crore after 30-35 years. In private jobs, PF and gratuity are the only benefits; there's no pension.

13. Job Transfers - Experience Different Cities

For most government jobs, an employee can be transferred to different cities, usually after every three to five years. Experience in different cultures will contribute more to expanding one's network. Transfers are subsidized by government travel expenses and accommodation support in such occasions. Such departments may offer local cadre options for employees who prefer to stay in a city for the long term.

It is important to understand that government jobs provide BCom graduates with security for long periods of time, course growth, and benefits that cannot be matched by the private sector. There is certainly no less opportunity to be explored after graduation, from banking to civil services.

Want to know which specific government jobs you can apply for? Read our article on List of Top Government Jobs after B.Com: Explore Your Options to discover all the career paths available to you!

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