NICL Administrative Officer vs SBI PO: National Insurance Company Limited is the Government owned general Insurance company established in the year 1906 and its headquarter is located in the city of Kolkata. NICL is the subsidiary of General Insurance Company Limited. On the other hand, State Bank of India is one of the oldest and most trusted bank of India. Getting job in SBI is almost like a dream come true. SBI conducts the national level recruitment exam for the appointment of Probationary Officers. The online examination consists of two stages i.e preliminary and main exam.
Both the examinations are very important for those aspirants who want to build their career in the government sector. Here, we are providing a competitive job comparison between NICL AO and SBI PO based on salary, job description, career growth, perks and benefits.
NICL Administrative Officer vs SBI PO: Job Comparison
The role of Probationary Officer (PO) in the State Bank of India and any public sector bank is almost same. Bank Probationary Officers hold many significant roles in their departments. Initially, Probationary Officers are under probation period of at least 2 years. As Probationary Officers, the candidates undergo training and their actual designation maps to the post of the Assistant Manager. On the other hand, Administrative Officer in Insurance company, do the work of verification, accounting (most of the times), claim settlements, Provide assistance to other departments etc.
Let us understand their job profile more in detail to get clarity regarding the tasks and responsibilities of this job role.
Job Profile of Probationary Officer in Banks
Customers Services: Customer service is an important, but broad concept in the banking industry. Banking business depends on the customers only. Therefore, customer service is very important for an officer. In their branches, POs will be asked to look into the concerns of the customers coming for loans, opening of new accounts, ATM services, deposits, cheque books, credit cards and online banking etc.
Adding New Business: As POs are direct channels of dealing with customers, so as a direct representative of banks, they have the responsibility of promoting various banking products. These products include Recurring Deposits, Fixed Deposits, Insurance policies, Funds, Credit Cards, Loans, etc. Initially, POs are not under any pressure of selling these products, but as they grow older in their jobs, they get targets & deadlines for selling these products.
Cash Handling: As a PO, you have to perform cash related activities like cash disbursal & cash collection from cashiers. In time of excessive work pressure, you may be required to perform the clerical duties as well. As an officer, you are also responsible for loading the cash in the ATM machines.
Payment Clearances: As an officer, you need to authorize some payments by way of cheque, DD, NEFT/ RTGS beyond a certain amount.
Maintain Reports: To avoid any mismatch, you have to close all the work on a daily basis. Officers would be assigned to generate reports that may include the deposits, withdrawals, ledger balances, etc.
Daily Work Communication: As POs need to interact with the customers, they have the key responsibility of maintaining a track of new developments to improve their product knowledge. As a PO, you will have to send official replies to other departments.
Job Profile of NICL AO
An Administrative Officer in General Insurance company is the Primary Supervisor. The Work of an AO is very simple, they need to do administrative jobs.
Which includes Claim Settlements(Mainly). As a Bank PO you are expected to:
- Provide services to customers
- Enhance business of the bank
- Handle cash activities at the bank
- Manage Clearance of Payments
- Manage accounts of customers
- Official communication
Let us now move to the salary comparison between NICL AO and SBI PO.
NICL Administrative Officer vs SBI PO: Salary Comparison
After going through this article, we are sure that you will be aware of the difference between salary, pay scale and perks of a NICL AO and SBI PO. The NICL AO and SBI PO salary breakdown is as follows:
SBI PO :The revised /initial starting basic pay is Rs.23700/- (four additional increments will also apply) in the pay scale of 23700-980/7-30560-1145/2-32850-1310/7-42020 (revised as on 1st June 2015) applicable to Junior Management Grade Scale – I.
- Basic Pay: Rs. 27620.00
- Dearness Allowance (DA): Revised DA for the quarter 2015-2016 is 39.80% of the Basic Pay. In Banks, DA is revised quarterly and is based on the CPI data as revealed by Government of India.
- CCA: This is paid @ 4%, 3% or 0% depending on the place of posting.
- Special Allowance: For officers it is paid @ rate of 7.75%
NICL AO Pay scale : Various allowances will be be admissible under the rules in force from time to time in the company.
Starting Basic pay: Rs. 32,795 /-.
Total emoluments will be approximately Rs.51,000/- p.m. in Metropolitan Centers.
Now you are clear with the salary structure of both NICL AO and SBI PO. Let us provide you the benefits provided by both the industries.
NICL Administrative Officer vs SBI PO: Perks & Benefits
Below mentioned are the benefits and perks offered by NICL and SBI PO.
SBI provide the following perks:
- Home Travel Concession/ Leave Fare Concession
- Concessional interest rates for Housing/Car/Personal Loans
- So , as per this criteria, both the posts are approximately equal.
- Contribution Pension Scheme/New Pension Scheme
- Medical Aid for self (100%) and for family (75%)
NICL provides the following benefits:
- Cash Medical Benefit
- Group Mediclaim
- Defined Contributory Pension
- Special Allowance for passing Actuarial Examination
- Group Personal Accident Insurance
- Group Insurance
- Vehicle Loan (2-wheeler/4-wheeler) as per rules.
Above mentioned are the perks and benefits provided by NICL and SBI PO. Let us now compare the career growth.
NICL Administrative Officer vs SBI PO: Career Growth and Promotion Comparison
Career Graph in SBI PO industry is as follows:
- Junior Management Grade – Scale I: Officer
- Middle Management Grade – Scale II: Manager
- Middle Management Grade – Scale III: Senior Manager
- Senior Management Grade – Scale IV: Chief Manager
- Senior Management Grade Scale V: Assistant General Manager
- Top Management Grade Scale VI: Deputy General Manager
- Top Management Grade Scale VII: General Manager
Career Graph in NICL AO is as follows:
- Administrative Officer
- Assistant Divisional Manager
- Zonal Manager
- Senior Divisional Manager
- Divisional Manager
Here we conclude our article on NICL Administrative Officer vs SBI PO: Job, Salary, Career Prospects. Stay connected for more information regarding upcoming examination.