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I WISH A BANK PO/SBI PO  writes like this about bank PO

nicely narrated by an ao in NICL...thanks

Hello everyone, i am an AO in Nicl and today i am going to give you an idea about Life as an AO/AAO -

Brief - These are scale - 1 post in insurance sector...
AAO in lic
And AO in Nicl, niacl, oicl and uiic

Both AO and AAO are same when is comes to scale, perks salary and all
Even work life is same...

Posting -

Chances are getting hometown is high only if HQ of that company is nearby you else you will be posted to business zones like Maharashtra, gujrat, tamilnadu etc.
Not getting home town is not bad, you will learn alot..

Work timings -

Generally it is 10 to 5:45 or 9:30 to 5:15 depending upon your area...
5 days a week in case of all 4 general insurance and alternative 5 and 6 days a week in case of LIC.
You can easily manage personal life with work life

Perks, salary etc -

You will get basic of 32795
Current DA is approx 59% of basic
After that TA(transport allowances) which varries from 1000 to 2000
Then HRA - which is 7%,8%,10% of basic as per location.
A class cities and metro - 10%
B class - 8%
C class - 7%
CCA only in case of metro, a class and b class
There is no CCA which is approx 600-700 in case of C class city.
Hill station allowance only in case of hilly area posting
Lease if you don't want to take HRA -
30000 mumbai
20000 metro cities
15000 a class city
11000 b class city
8000 c class city

Total gross will be approx 56-58k including HRA

Deductions -
NPS - 10% of basic + DA
Income tax - approx 1500 per month
Mediclaim according to your sum insured

In hand will be approx 47-49k

You will get home loan, bike loan, car loan like banks
No furniture allowance
LTS means traveling in every 2 year is permissible with family
Medical facility, newspaper allowance is also there.
Maximum benefits are like banks

Promotions -

You will be eligible after every 3 year for fast track promotion but you have to clear internal exams to get extra marking in promotion examination.
You will be easily promoted in 5-7 years through normal channel.

About offices and work -

Bfsi(banking financial services and insurance) sector is not similar to pure Central govt jobs.
It is the mixture of govt + corporate lifestyle.

Maximum offices of insurance companies were non AC but in last 2-3 years, scenario is changing

Offices are getting good infrastructure same as banks.

Lower level is called branch office where you have to handle the claims and sometimes you have to handle all other departments like accounts, underwriting etc because it might be possible that you will be the only AO/AAO in that office..
So many a times in the absence of assistant, you have to handle all work but believe me working in branch offices will give you plenty of knowledge and experience, that you wouldn't get in higher offices.

Work load is less than the banks but in some areas.i.e- business zones, you will may have to work till 7pm.. but chances are very rare,.

After branch offices, Next level is called divisional office, generally there are 5-10 branches under one division and you will be given separate department, which is not like the case of branch office where you have to see all departments..
But at this level you hAve to deal with both lower level and higher level..
So you may learn less when it comes to public dealing but you will learn bit of administrative work due to connection with higher office.

Next level is RO - regional office and after fhat6 HO(head office)
You will get separate department, and may be separate cabin.
All you need to do is supervise the work of DOs/BOs under your RO.
And have to transfer the information from HO(head office to lower offices)
There is no public dealing in RO and HO
Higher the level, higher the responsibility

I hope it helped alot.

If still there is any query, do ask.. will try to answer as soon as possible


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