Summaries Career Development Government vs. Private Jobs: Practical Benefits and Finding Your Perfect Fit ft. @AyushiChand

This is a summary of a YouTube video "Government officer & Management Consultant discuss Government vs. Private jobs ft. @AyushiChand" by Akshat Shrivastava!

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When deciding between a government job and a private job, consider the practical benefits and whether you feel suited for the job, and take risks to become a perfect fit for a gold standard job.

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  00:00

  Government jobs tend to be more qualified, while private sector jobs typically pay well due to purchasing power parity.
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  07:19

  Despite misconceptions, government jobs still require hard work and corruption has decreased over time due to initiatives like the Right to Information Act.
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  10:32

  Working in both public and private sectors has become more demanding, with governments now able to more easily let go of employees and private sector employees facing increased job uncertainty.
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  15:15

  When deciding between a government job and a private job, consider the practical benefits and whether you feel suited for the job.
• 🤔
  20:41

  Working in the government sector can offer varying levels of work-life balance depending on the job, while private sector and entrepreneurship can be more demanding.
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  25:14

  Take risks, experiment, and get good brands on your CV to become a perfect fit for a gold standard job and make more money.
• 🤔
  33:28

  Zayn should pursue his desired career path, aiming to be in the top 0.1%, while considering the pros and cons of government jobs.
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  40:10

  Thanks for joining, let us know if you have any feedback!

Detailed summary

• 🤑
  00:00

  Government jobs tend to be more qualified, while private sector jobs typically pay well due to purchasing power parity.

  • We are discussing the comparison between government and private jobs, drawing from our own experiences, and will provide an overview of the different types of government jobs.
  • Gold standard jobs are highly competitive and sought after, while silver standard jobs are less competitive and bronze standard jobs are typically lower paying IT related jobs.
  • Group A jobs offer an enhanced salary of 60-70,000 per month for fresh entrants, and can reach up to 20-25 lakhs per month at the secretary level at retirement age.
  • Group A, B, and C have salary differences of 10-20%, and transfers between groups are possible in certain services by passing internal exams.
  • Starting salaries at top tier consulting, tech, and investment banking firms are typically between 20-30 Lakhs after an undergraduate degree and 35 Lakhs after an MBA.
  • Private sector jobs typically pay well due to purchasing power parity, while government jobs tend to be more qualified.
• 🤔
  07:19

  Despite misconceptions, government jobs still require hard work and corruption has decreased over time due to initiatives like the Right to Information Act.

  • Less than .01% of the 25,000 people who write the Indian Economic Service exam each year are selected, and they must have a Masters in economics to qualify.
  • Bribery and corruption in government jobs is limited to certain sectors and jobs dealing with the public, and the corruption level has decreased over time.
  • The government has taken steps to reduce corruption, such as the Right to Information Act, and citizens have become more empowered.
  • Government employees still need to work, despite the misconception that they can retire after getting a job.
• 🤔
  10:32

  Working in both public and private sectors has become more demanding, with governments now able to more easily let go of employees and private sector employees facing increased job uncertainty.

  • The pressure of working in government jobs is immense, with multiple stakeholders to manage and strict deadlines to meet.
  • The private sector is increasingly focused on generating ROI, and those who don't are at risk of being fired.
  • Work pressure is increasing in both public and private sectors, and job uncertainty has increased in the private sector.
  • Governments are now reviewing the performance of people and have brought in rules to change the structure of permanency within government jobs, making it easier to let go of government officials compared to the private sector.
  • I used to create excellent PowerPoint presentations to help build something new and change the world.
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  15:15

  When deciding between a government job and a private job, consider the practical benefits and whether you feel suited for the job.

  • Government jobs have the potential to create a large impact on people's lives, with one scheme such as MGNREGA impacting 30,000 labourers in one year.
  • Government jobs can provide great opportunities for policy work and exposure to multilateral organizations, but may not be ideal for those seeking financial stability.
  • Salary depends on individual needs and wants, and cannot be compared between the government and private sectors.
  • When deciding between a government job and a private job, consider the practical benefits and whether you feel suited for the government job.
  • By age 35, life circumstances may lead to a need for more money, causing a shift in mindset.
  • Government jobs provide security and benefits for the official and their family, and few officials leave before retirement age.
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  20:41

  Working in the government sector can offer varying levels of work-life balance depending on the job, while private sector and entrepreneurship can be more demanding.

  • People who have cleared UPSC are not always satisfied with their salary, even if they make more than those who failed the exam.
  • At different stages of life, work life balance in the government sector can be seen as a positive or a negative depending on the individual's qualifications and salary compared to peers.
  • IIS and IPS officers typically work 10-12 hours a day, with little time for family initially, but can delegate work and supervise teams later on.
  • IES offers better work life balance than IAS and IPS, with more analysis work and less public interaction.
  • Working in the private sector often results in a lack of work-life balance, and entrepreneurship is even more demanding.
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  25:14

  Take risks, experiment, and get good brands on your CV to become a perfect fit for a gold standard job and make more money.

  • To become an IES officer, you need a Masters in Economics, good exam-cracking skills, good interviewing skills, and a holistic understanding of the economy.
  • To become an IPS, you need to have determination, perseverance, and be ready to do a lot of leg work in the field.
  • Have a plan A, B, and C, dedicating no more than one year to UPSC preparation, and get internships or part-time jobs to have something to fall back on.
  • Having money-making skills such as video editing, graphic designing, and virtual assistant work, as well as good brands on your resume, can help you get jobs in the private sector.
  • To get gold standard jobs, get good brands on your CV, be open to learning new skills, and be open to taking risks.
  • Take risks and experiment to become a perfect fit for a gold standard job and make more money.
• 🤔
  33:28

  Zayn should pursue his desired career path, aiming to be in the top 0.1%, while considering the pros and cons of government jobs.

  • Government employees have multiple exit opportunities, such as pursuing an MBA or MPP, or joining a reputed organization like the World Bank.
  • Bureaucrats' work may not be recognized, which can affect their morale and the attitude of society towards them.
  • The Modi government has introduced lateral entry jobs for young professionals to work with the government on project-specific roles.
  • Government officials often work more than the official 9-5 timings due to the workload, but there are no tips on how to stack black money.
  • I chose a career with work-life balance to avoid the long hours and extended absences of my father's job.
  • Zayn should pursue whatever career path he wants, but should strive to be in the top 0.1% of it.
• 👋
  40:10

  Thank you for joining us, please let us know if you have any comments.