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Updated on 19th February, 2019 , 4 min read
There are many times when a person is in a situation of dilemma and choosing a right career option is one of that. Bank aspirants often find themselves discussing on a very disputable topic that “whether they should go for Life Insurance Corporation of India's Assistant Administrative Officer (LIC AAO) exam or a Bank Probationary Officer (PO) exam in terms of a better career and future choice".
Institute of Banking Personnel Selection (IBPS) is the conducting authority of both LIC AAO Exams and IBPS PO. That is the reason there is so much similarity between the IBPS PO Exam Pattern and LIC AAO Exam Pattern.
As both, the exams are almost similar in their exam pattern and working profiles most of the candidates usually sit for both the examination. One more reason for so many candidates opting for both the examination can be the fact that it is difficult to pinpoint why LIC AAO is better than Bank PO and vice-versa. This particular article aims to present some of the crucial data that can help the aspirants make the right career choice. In the upcoming segments here we will highlight few silent features of both LIC AAO and Bank PO examination like SBI PO and IBPS PO along with the points of differences between the job profile, salary included, additional perks and stages of promotions.
Institute of Banking Personnel Selection is responsible for conducting both LIC AAO and IBPS PO, so, there is a lot of similarity in the exam pattern for both the examinations like segments of question paper and types of question. However, there can be a minute difference in the questions and there can be few questions specific to the sector. SBI PO, on the other hand, has the same segments to evaluate the students but types of questions may differ.
Both AAO and PO jobs include job transfers in every 3 to 5 years. LIC AAO job transfer can be little convincing as most of the LIC branches are located in major cities of the country. Bank POs, on the other hand, can be transferred to rural areas as there is always some requirements.
As both of these are government jobs and include a lot of perks (that's what government job is for, isn't?). Here are a few perks a candidate enjoys on respective post.
| LIC AAO Benefits | Bank PO Benefits |
| Defined contributory pension | Contribution pension scheme and a new pension scheme |
|
Special allowance for passing the actuarial examination |
100% Medical aid for self and for 75% for family |
| Gratuity | LTC |
| LTC | Home travel concession/ leave fare concession |
| Cash medical benefit | Concessional interest rates for housing/car/personal loans |
| Group med claim | - |
| Group personal accident insurance | - |
| Group insurance | - |
| Vehicle loan (2-wheeler/4-wheeler) as per rules. | - |
A candidate can expect much faster growth in Bank PO than LIC AAO as in banks promotions takes place in every 2 to 3 years whereas in LIC the same can take 5 years.
There are various stages of promotions in a bank:
Various stages of promotion in LIC:
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