Comparison of Pay between Bank employees and Central Govt. Employees after 7th Pay Commission
No doubt, careers in both Central Government as well as PSU Banks are much sought after among job aspirants. Then, which one is better among these two?
It would be an effort of comparing and apples and oranges if these two are set against each. Both these careers have different service conditions and have their own merits and demerits. While Bank Employees Pay and allowances are revised every five Years, Central Government Employees are due for pay revision every ten years.
However, salary at various levels in these sectors are being compared regularly. Prior to implementation of 10th Bipartite Settlement many bank unions and individuals from banks demanded for equating salary of bank employees with that of government employees. To justify their demand they had come up with a comparison of salary of Group C & D employees in PB-1 of Central Government Service and Sub-Staff in Banks. Like wise pay and allowances of a Graduate Assistant (clerical staff) and officers in both of these organisations were also compared.
The following tables provides those comparisons (Salary before implementation of 10th Bipartite wage Settlement)
MONTHLY SALARY OF CENTRAL GOVERNMENT STAFF AND BANK STAFF (OTHER THAN OFFICERS) AS ON 01-08-2013
MONTHLY SALARY OF OF OFFICERS IN BANKS AND CENTRAL GOVT AS ON 01-08-2013
Present Position of Salary after implementation of 10th BPC for bank employees and release of 7th Pay Commission Report
In May 2015, IBA accpted to grant overall 15% increase in pay slip component of bank employees with effect from November 2012 which will be valid for five years.
Also, we have the recommendations of 7th Pay Commission in black and white now. 7CPC has proposed an increase of 14.29% in Basic Pay alone and overall increase in Pay and allowances will be 23.55% as per Finance Ministry official press release.
In this background we have attempted here to compare the revised pay and allowances of Bank Employees and 7CPC proposed pay and allowances of Central Government Employees.
It may please be kept mind that this exercise is merely an arithmetical comparison and the same do not advocate anything relating to conclusion that one is better than the other. As we mentioned earlier, nature of work, service conditions and intrinsic benefits involved in respect of employees of these organisations are not comparable.
** As 10th BPS was implemented with effect from 2012, Basic Pay of sub-staff, Clerical Staff and officer as on 2016 will be basic pay with four increments, which are calculated to be 10,535/-, 13,730/- and 27,620/- respectively.
*** HRA proposed by 7CPC for X,Y, and Z cateogory cities is 24%, 16% and 8% respectively. We have taken 16% in this case as most of Central Government Employees would be entitled for the same. Like wise, Transport Allowance rate for which most of PB-1 and PB-2 employees would be entitled to has been taken in to account.
Category: Government Employees