Sense of career stability is winning over faster growth prospects in private sector as more and more B-school graduates are preferring jobs in public sector undertakings (PSUs) and central government, says a survey by industry body Assocham.
A majority of students (about 88 per cent) are getting into PSUs and central government jobs, said a pan-India survey conducted by the Assocham in February and March this year.
The survey, ‘PSUs or Central Government job seekers’, was conducted in cities like Delhi-NCR, Mumbai, Ahemdabad, Cochin, Bangalore, Hyderabad, Kolkata, Chennai, Indore, Patna, Pune, Chandigarh and Dehradun.
Aspirants from Delhi ranked first with job preference for PSUs and central government, followed by Mumbai, Ahemdabad, Chandigarh, Hyderabad, Kolkata and Chennai.
A majority of students, who gave their views on the subject, revealed that their first choice would be to join organisations like ONGC, IOC, NTPC, HPCL, BPCL, SAIL, banks and firms in manufacturing sector that provide good growth prospects with maximum stability.
The study revealed that a majority of students from management institutes felt that in PSUs and central government agencies give assignments that are exciting and provide challenges, opportunities and stability.
The survey highlighted that many PSUs are giving a generous allowance apart from car maintenance and insurance that adds up to about 20 per cent of basic salary. Apart from salaries, a number of special allowances and residential quarters are provided to the officers.
Only 4 per cent of the respondents in metros like Delhi, Bangalore, Kolkata, Mumbai, Chennai and Ahemdabad felt that leading private corporates give them a challenging culture and exposure.
They felt that in private sector, the boards and management are completely autonomous. Most of the times, their decisions are neither influenced by external factors nor do they have Government nominees on their boards other than the those of financial institutions.