1.7 m applications for 1500 jobs

Discussion in 'Economy & Infrastructure' started by Ash, Mar 14, 2013.

  1. Ash

    Ash Regular Member

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    Mumbai - India's largest state-run bank has received 1.7 million applications for just 1 500 entry-level clerk jobs - - and has promised to examine all of them, a report said this week.

    State Bank of India chairperson Pratip Chaudhuri attributed the huge interest to good marketing and attractive employment terms, with the number of applications underlining the appeal of "jobs for life" in the Indian public sector.

    "This time, we had given the advertisement a good profile, highlighting the position of SBI and describing the compensation package in detail, which attracted a lot of attention," Chaudhuri told The Times of India.

    For positions in Mumbai, the bank offered a starting package of 69 000 rupees ($1 270) a month for the "probationary officers" including a housing allowance - an attractive perk in the expensive local real estate market.

    Job opportunities in the Indian private sector have fallen in the last 18 months as economic growth has dropped to its lowest level in a decade due to declining business confidence and high interest rates.

    The government forecasts that India's once-booming economy will grow by just 5% in the current financial year to March 31.

    Last year, it grew by 6.2% but even that rate - while enviable by anaemic Western standards - is insufficient to create the jobs India needs for its fast-growing young population.

    India's Prime Minister Manmohan Singh, a former economist, believes that India requires at least 8% growth to create enough jobs for its expanding population, with the government keen to promote the industrial sector.

    Chaudhuri said all 1.7 million applicants - more than 1 100 per position available - would be assessed.

    "We have conducted such examinations in the past by hiring schools across the country. This time, we may have to do two shifts," he told the newspaper.

    Nine out of ten Indians are currently employed in the "informal" sector in jobs that offer no security, few perks and often illegal working conditions, government data shows
     
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  3. Splurgenxs

    Splurgenxs Regular Member

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    Re: 1.7 m applications for 1 500 jobs

    Two coveted jobs right now IB and SBI. That's all one hears.No wonder.
     
  4. Daredevil

    Daredevil On Vacation! Administrator

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    Perks and job security in SBI is perhaps the most attractive feature for POs.
     
  5. mikhail

    mikhail Senior Member Senior Member

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    ohh my goodness i didn't know that over 1.7 million applicants have applied for this job:shocked:.thank god i didn't applied for this but many of my friends have applied here in Kolkata!
     
  6. amoy

    amoy Senior Member Senior Member

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    Is usd1270 a good pay in Bombay? I doubt. And the last paragraph is quite alarming.

    Sent from my 5910 using Tapatalk 2
     
  7. indian_sukhoi

    indian_sukhoi Regular Member

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    Makes me demoralize to find that i have to compete against 1.7 million people to become Probationary Officer :scared2:
     
  8. Params7

    Params7 Regular Member

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    This is just horrible.
     
  9. p2prada

    p2prada Stars and Ambassadors Stars and Ambassadors

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    For a clerk's position, it is beyond excellent.

    An inexperienced engineering graduate will be paid around $500 a month and will probably take home around $800 after two years in a corporate company.

    Why do you think so many applied?
     
  10. Apollyon

    Apollyon Führer Senior Member

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    $500 ? :dude:
    I think it's more like Rs. 40000 to Rs. 50000 for most freshers.
     
  11. SajeevJino

    SajeevJino Long walk Elite Member

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    $1270 is enough for Big Family in India that's almost 70k in Indian Rupee ..in India Normal Revenue for a Decent Family goes $ 500 to $ 700 ..
     
  12. amoy

    amoy Senior Member Senior Member

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    Even so that's $740 to $925 then still dwarfed by SBI's $$ for the "probationary officers" plus "job security" mentioned.

    But I think many Chinese new grads have to make do with much less than $500 in most secondary cities
     
  13. p2prada

    p2prada Stars and Ambassadors Stars and Ambassadors

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    Only IITs and some NITs.

    A 40000 package is very rare when compared to a 20000-25000 package.
     
  14. Apollyon

    Apollyon Führer Senior Member

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    whoa ..I was under wrong impression.
    How much do a engineering graduate from a good university in South (SRM, Anna Univ, etc.,) get ?

    If you include all those benefits you get with a Central Government Job it's a dream job onlee for Middle Class. :D
    There's a "mehangai bhatta" (depends on inflation, increases every few month), also there's a fix increase in salary every year and then there's Pay Commission which review salary of Central Government employees and many other dynamic factors.
    (SBI is a state-owned bank, comes under central government)
     
  15. p2prada

    p2prada Stars and Ambassadors Stars and Ambassadors

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    Pretty much what I quoted in the beginning.
     

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