LIC AAO vs Bank PO: Which is Better? Salary, Working Hours & Growth Comparsion

A LIC AAO job involves administrative work, which includes:

• Formulating new schemes
• Inspecting policies
• Managing and filing claims
• Client interactions
• Coordinating with other departments, provide assistance
• Perform any work specified by the department head or administrative officer.

In addition to administrative work, PO also does the following:

• Provide services to customers
• Enhance the business of the bank
• Handle cash activities at the bank
• Clearance of Payments
• Manage the accounts of the customers
• Official communication

• AAO is more about managing administrative work
• No customer dealing does not make it a stress-free job. A govt organization is always loaded with the paper works in hand.
• In LIC there are only 5 working days in a week.

• Bank PO in addition to the administrative work also deals with customers.
• Apart from customer dealing it may include several other works like file work, fieldwork, cash handling, etc.
• In Banks, 2nd & 4th Saturdays are considered as bank holidays.

• Basic Pay of LIC AAO: The basic pay of a LIC AAO is Rs. 32795/- per month in the scale of Rs. 32795- 1610(14) –55335– 1745(4) –62315 and other admissible allowances as per rules.

• The gross salary of a LIC AAO will be around Rs. 58000/- to Rs. 60000/- per month.

• The revised basic IBPS PO salary structure thus becomes – 23700 – (980 x 7) – 30560 – (1145 x 2) – 32850 – (1310 x 7) – 42020.

• Here, Rs. 23, 700 is the revised basic pay of Bank PO as applicable on 1st January 2016. Thus, a new entrant in a Bank as a PO is liable to get Rs. 23,700 as basic pay. While Rs. 980 is the annual increment that an IBPS PO will get and that will be applicable for a period of 7 years.

The benefits that LIC AAO provides are Defined Contributory Pension, Special Allowance for passing Actuarial Examination, Gratuity, LTC, Cash Medical Benefit, Group Mediclaim, Group Personal Accident Insurance, Group Insurance, Vehicle Loan (2-wheeler/4-wheeler) as per rules.

you may get transferred every 3 or 5 years.

LIC has most of its branches in the cities.

There are other allowances and variables included in the IBPS PO Salary such as,

• Leased Accommodation Reimbursement
• Traveling Allowance
• Newspaper Reimbursement
• Medical Aid: The amount is ₹ 8000/- p.a.
• Benefits under New Pension Scheme.

You may get a transfer after 3 years.

Banks are also located in rural areas.

Check here:

• LIC AAO Salary
• IBPS PO Salary

In LIC it takes at least 8 years to become eligible for the same

• AAO
• AO
• ADM
• DM
• ZM

A banker is eligible for a promotion after 3-4 years

The hierarchy of a Bank PO in terms of his/her promotion goes in this order;

• PO – Assistant Branch Manager
• Branch Manager
• AGM
• GM
• and further in scale II, III, IV cadre.