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Wednesday, December 16, 2015

IT or Banking ?? Here is Best possible Answer

Working in a bank was considered as the most privileged job in 80s just like now working in an IT company. So, it all depends on what do you want from your job? Money, Satisfaction, Security, Peace, etc etc.

Definitely IT industry in India is booming since last decade. The number of opportunities, pay scale, working environment and almost everything is at par in IT. Nowadays, bank salary is also not bad at all and they get numerous allowances as you go to higher levels.
 Now, let us consider several factors:

Money: Both industries reward freshers with almost equal salary. But, if you are an outstanding engineer, chances are that you will be placed in some big MNC through campus selection with much higher salary package.  Also, you can switch often to increase your pay. In Banks, it is not possible. You need to spend certain years before you can apply for promotion, and for that also you need to give internal exams.

Working environment: Almost every IT company maintains good and friendly working environment. You can avail certain facilities like work from home, flexible timings, comp off etc. In Banks, you need to follow strict timings. Earlier, it was said that you can spend the whole day in bank without touching a pen (sit idle for entire day). Nowadays, you won't find time for your lunch. At times, you might spend 10-12 hours in the bank (which is common in IT too). In IT company, you sit in AC offices, use clean wash rooms, spend time playing indoor games, hang around with colleagues during office timings. In Banks, you are constantly facing customers, and they may not behave well with you. If you do any mistake, they are furious because it is all related to their money. You need to fill 'n' number of forms, count money, enter it in the computer and at last tally all the things before day ends. If there is any mistake, you need to correct it on that day itself. There is no 'I will look into it and get back to you' kind of statements. It is a fact that everyone gets bore of things in job after several years. So, this will happen irrespective of your comapny/salary/work culure/type of work.  

Work pressure: In both the fields, you will face work pressure at times. In IT, sometimes you need to work for extra hours daily to meet your project deadline. In Banks, it happens at financial year ends, or quarterly closures. 

Change of locations: In Banks, if you get promotion, you will be transferred to another branch. It can be rural branch or urban branch. If you are unlucky, you may get very distant branch with only one colleague. I have seen this in my mom's branch. A person was transferred from J&K to a small town in Maharashtra. And, it was very difficult for him to adjust as the two places were completely opposite in climate, culture and food. In IT also, you can be transferred to a different city/county, but mostly you will land in metro cities.   

Security: If you are working in a bank, nobody can fire you ever unless you do something really illegal or wrong. Your job is totally secure (if working in national banks). In IT, you never know when your company stops loving you. So yes, you are more secure in banks. Lay-offs are part of IT life and no one can avoid or predict it. You have to take this risk. 

If you are ready to face all this, then you can certainly join any bank, otherwise IT world is open for you.