The government sector opportunities for aspiring candidates are rising for the last few years in different segments. Banking and Insurance, which are core parts of the finance sector in the country, have seen enormous growth in the last decade. It has resulted into larger number of recruitment and manpower creation at various levels by many companies of repute. The entry level posts in the banking and insurance sector is that of a clerical one. Where there is regular recruitment of banking clerical cadres in various banks, the insurance sector has recently initiated recruiting insurance assistants to carry forward their works in the offices. Various government and private insurance companies are recruiting, candidates with very little or no experience of the finance sector. These candidates are sent for training, after which they are entitled to work as insurance assistants in various companies. They usually handle the insurance issuance, settling of claims, accepting cash from clients and routine office work. Bank clerk, is also entry level post in the banking sector, who need to carry forward the daily operation of the bank.
Pros and Cons of Bank Clerk Job
The bank clerk job offers a stable government job, that many aspiring candidates presently preparing for the entrance examinations desire for. But, many of the candidates do not remain aware of the workload, culture and prospects of the banking job. They must at first understand the life of bank clerks before joining in various banks. While the bank clerk job offers a stable and secure job option, it takes toll of the candidates physically and mentally due to the workload and stress at a regular level.
The bank clerks are often given the responsibility to handle cash. They need to carry out the work associated with various government schemes and need to serve the customers, dealing with them in a repeated manner. The job hours of the bank clerk position can vary according to the pressure at particular branch. Gone are the days when bank employees could complete their job in a limited time and take an off early from the banks. The bank clerks are also quite underpaid, as the salary (even after the 10th bipartite settlement) is quite less. Those who join as bank clerk now would get anything between Rupees 20-25 thousand per month. The initial posting of the bank clerks are generally given in the rural areas, making life even difficult for the candidates. On the other hand, the bank clerical job has a good side to it as well. The growth rate of the bank clerks could be very fast, depending upon their performances. Undergoing departmental examinations would allow them to rise higher in ranks quite quick. The transfer policy is also quite relaxed in case of bank clerks, and they usually are posted in one place for a long time. The job also offers various medical and loan benefits, allows candidates to enjoy annual holidays and grants maternal benefits to the female candidates.
Pros and Cons of Insurance Assistant Job
The profile of an insurance assistant is quite lesser known to the people in this country. Lately, quite a few organizations have come up, recruiting Insurance Assistants for the ground level work of the insurance sector. Public Sector Insurance Companies like Life Insurance Corporation of India, General Insurance Corporation of India, National Insurance Co. Ltd., Oriental Insurance Co. Ltd. , New India Assurance Co. Ltd. , United India Insurance Co. Ltd. conducts recruitment examination for hiring assistant on regular basis. The insurance assistant posts in government insurance companies are a permanent based post like bank clerks and offers a good opportunity to grow in their lifetime. The insurance assistants need to look after the creating and development of insurance and bond reports of their customers to the company. They have to create and maintain a database of clients and fill up insurance forms and documents on a regular basis. They need to provide customer service and support by accepting payments from them and settling insurance claims of clients. They often need to issue insurance policies and undergo routine office administrative work. The work load is relatively less and duty hours a fixed in the office. They get to work only five days a work and promotions to higher levels are actually very fast. The candidates need to undergo a probation period of 6 months, during which they are prepared for the job. During this period they can’t leave the job and need to serve the respective company. The initial salary of the insurance assistant is quite less (almost Rs. 20000/- pm.), but there is scope of growth and promotions very fast. The incentives and bonuses attached with issuance of policies make it a fair deal for the insurance assistants.
Though, both the posts are clerical and entry level in nature, each of them has their pros and cons. There is no clear favorite among the bank clerks and insurance assistants, as both of them need to undergo regular customer handling and cash handling. The candidates must consider the job profiles and make their decision on which financial sector they could fit in to.