Overview
This lecture compares the jobs of LIC AAO and Bank PO (Probationary Officer) to help students understand both career options.
Job Profile Comparison
- Both Bank PO and LIC AAO are desk jobs, but their tasks differ.
- Bank PO is assigned various tasks like accounts, loans, recovery, sales.
- LIC AAO mainly handles back-office, data entry, verification, claim settlement, and administration.
- LIC AAO does not have direct pressure for policy sales; the team under them handles this.
Salary and Allowances
- LIC AAO's net salary is higher than Bank PO, approximately 90,000 to 100,000 rupees.
- Bank PO's net salary is slightly lower, but the bank provides higher allowances.
- Allowances in LIC are somewhat less compared to banks.
Promotion and Career Growth
- Promotions in Bank PO happen quickly, approximately every 2-3 years.
- Promotion process in LIC AAO is slower; it may take 4-5 years.
- Career growth prospects are higher in Bank PO.
Work Pressure and Work-Life Balance
- Work pressure is less in LIC AAO; there are no sales targets.
- Work pressure and targets are higher in Bank PO.
- LIC offers 6 working days and second Saturday off; conditions are similar in banks.
- Fixed timings in LIC allow more time for family.
Posting and Transfer
- Posting and transfer can happen anywhere across India in both.
- Posting in rural or urban locations is possible in both bank and LIC.
- There is no major difference in this regard.
Job Security and Exam Pattern
- Job security is strong in both jobs.
- Both LIC AAO and Bank PO exams have three stages: Prelims, Mains, Interview.
- LIC AAO has sectional cut-offs and a qualifying English section.
- LIC AAO exam level is slightly easier than Bank PO.
Key Terms & Definitions
- LIC AAO тАФ Life Insurance Corporation Assistant Administrative Officer; back-office post in an insurance company.
- Bank PO тАФ Probationary Officer; administrative officer in a bank, working in various departments.
- Net Salary тАФ Total salary amount credited after deductions.
- Promotion тАФ Advancement to a higher position.
Action Items / Next Steps
- Fill the LIC AAO or Bank PO form on time.
- Prepare especially for GA and Insurance Awareness sections.
- Stay motivated and plan to clear cut-offs in all subjects.