Who says the charm of PSU has died? The volatile and uncertain global scenario had forced many MBA and Engineering aspirants to settle for PSUs in 2008-09 crises but the optimism in following years forced many aspirants to go back to private honchos. In India, the best goes with the best. Be it IITs or IIMs, the best candidate gets the best as per his/her caliber. There is a very tough competition for IITs and IIMs as many students appear for the examination; however, only few candidates are able to make it. In 2011, the number of IIT aspirants was 485,000 for total seats of 9,618; thus, an average of 50 students vie a single seat in IIT. In 2010, the competition was little less i.e. 43. For IIMs, the situation is little better with an average of 69 students vying for a single seat in IIM in 2011. The total number of applicants was 206,000 for a total seat of 3,001 (approximate).
If you believe the next number, you may be in a complete surprise. In the month of Sep 2011, the Reserve Bank of India Services Board, Mumbai invited applications for Officers in Grade ‘B’ for a total seat of 75 including all reservations. To everyone surprise, the total number of accepted applicants are 154,023; thus, an average of 2,054 students will strive for each seat of offered seats on Dec 18, 2011 to appear for its first level. This, as per my knowledge is the highest average so far. The centre from which the maximum students are appearing for this prestigious exam is New Delhi (27,983) followed by Mumbai (13,613), Chennai (13,271), Hyderabad (11,623) and the list follows. Port Blair is having the least number of candidates (62).
Even in the recent past, SBI created a stir when it received a total of 20 lakh applications (approximately) for a total seat of 20,000; thus, an average of 100 students per seat. Also, for prestigious exam like UPSC, an average of 415 (approximate) students vied for a UPSC seat which had a total seat of 965 in 2011.
As per RBI advertisement, the position is a crème de la crème for any job aspirant as the successful candidates may get the opportunity to work in their Economic Policy/Monetary Policy division or other cream divisions. The total CTC as per the job advertisement claims to be Rs. 10 lakh per annum, not bad given the job security will always remain. Even in other PSUs like NTPC, the salary offered is competitive and it matches with the best paying corporate in the industry.
Corporate honchos may recruit the best candidates on day 0 or 1 in all top institutes; some government organizations like RBIs, NTPC still hold the charm in comparison to others and always remain the preferred employer for all candidates.
Fortunately, I have also been appearing for this prestigious exam and competing with other 154,022 candidates for 38 general seats; thus, competing among 4,053 candidates per seat.
Happy Reading!
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