LIC AAO vs Bank PO: Comparison And Difference - Know Which Is Better

LIC AAO vs Bank PO 2023: In this article, we are going to compare LIC AAO vs Bank PO 2023 in detail. The banking and insurance fields are not the same but they have some similarities in their selection process but many dissimilarities in their scope of work. Banks encourage people to save and borrow money, while LIC encourages insurance, which offers social security to people both during and after their lives. The banking exam is conducted by ibps for PSB (public sector banks) and RRB (Regional Rural banks). LIC AAO vs Bank PO 2023 comparison is very important because both of them have job security, are well-paid with allowances, and have timely promotions. While comparing the LIC AAO vs Bank PO it is mandatory to compare LIC AAO vs Bank PO salary, Exam Pattern, Career Growth, Work pressure, and transfer in order to arrive at a decision and you can get LIC AAO vs Bank PO which is better?. 

In this article, we will also see about LIC AAO vs SBI PO, LIC AAO vs SBI PO salary comparison, and also we will see LIC AAO vs SBI PO which is tough, etc. Students will get clarification but somehow you have to prepare well to clear all these exams. LIC AAO has already released notification for the exams. This article will definitely boost your confidence and make you get clarified to select your suitable sector.

LIC AAO Previous Year Question Papers

LIC AAO Exam 2023

LIC AAO stands for LIC Assistant Administrative Officer. They are selected by conducting LIC AAO exams. These Officers carry out administrative work, fill claims and settlements, monitor the existence of insurance policies, and formulate new policies

Bank PO 2023

There are three types of Bank PO exams. IBPS PO, IBPS RRB PO Exams and SBI PO exams. Bank PO Officers carry out administrative work. They also provide services to customers, enhance the business of the bank, handle cash activities, and manage customer accounts. IBPS exams for probationary officer recruitment will be conducted by ibps for PSBs and RRBs. They will also conduct exams in stages like Prelims and mains. The candidates who are selected will appear for a direct interview.  SBI recruits its employees by conducting its own exams in two stages prelims and mains

LIC AAO vs Bank PO 2023 Comparison

LIC AAO vs Bank PO 2023 is a highly discussed topic among aspirants because they require which is better in career aspects. So in this article, we have compared its salary, exam pattern, promotions, working hours, etc. With the help of all this comparison, the candidates can make a career choice.

LIC AAO vs Bank PO Salary 2023

LIC AAO vs Bank PO salary 2023 comparison gives a clear and main differentiation for the candidates to choose a better career. Salary and allowances will be key decision factors to decide LIC AAO vs Bank PO which is better. We are given a table comparison between LIC AAO vs Bank PO salary and LIC AAO vs Sbi PO salary. 

LIC AAO vs Bank PO Salary 2023

 

LIC AAO

IBPS PO

SBI PO

Basic Pay

Rs. 53,600 /-

 36,000/-

41960/-

Special Allowance

Rs. 4,500 /-

5,904

4000/-

DA

Rs. 21,500 /-

8,593.20

19679/-

HRA (Minimum 7%)

Rs. 3,752 /-

3,240

8000/- (Rural)

29500/- (Urban)

Transport Allowance

Rs. 1,960 /-

-

Reimbursement for AC-2Tier (Exclusively for official travels)

Gross Salary

Rs. 92,870 /-

52,000+ 90,000+

IBPS PO basic salary will be 36000/- The IBPS PO salary covers other allowances which are extra from the basic pay.

  • Some other allowances of an IBPS PO are  House Rent Allowances, Dearness Allowances, Learning Allowances, Traveling Allowances, Newspaper Reimbursement, Medical Aid, Benefits under New Pension Scheme, etc.
  • If we sum up then the salary may be Rs. 52,000+

State Bank of India offers lucrative salary packages along with several perks to the employees which enable a huge number of candidates to apply for the exam every year. As per the SBI PO notification, the starting basic pay is 41,960/- (with 4 advance increments) on a scale of 36000-1490/7-46430-1740/2-49910-1990/7-63840. The candidates will also be eligible for allowances and perks along with an attractive salary package. 

LIC AAO basic pay is Rs 53,600/- and covers special allowances, HRA, DA, and Transport Allowance which overall covers Rs 92,870/-

 

LIC AAO Salary

LIC AAO Mock Test

LIC AAO vs Bank PO 2023 Exam Pattern

 LIC AAO vs Bank PO 2023 exam pattern comparison is done in two stages. Prelims exam comparison and mains exam comparison. we will maintain two separate tables so that it will be easy for the candidates to understand better.

LIC AAO vs Bank PO 2023 Prelims Exam Pattern

LIC AAO and Bank PO have a similar type of exam pattern. Both the authorities are clear that their employees should possess basic fundamental skills so that it is very essential in their work nature. Check the table for clearing understanding.

LIC AAO vs Bank PO Prelims Exam Pattern 2023

Section

Number of Questions

(LIC AAO / Bank PO)

Maximum Marks

(LIC AAO / Bank PO)

Duration

(LIC AAO / Bank PO)

Medium

(LIC AAO / Bank PO)

English Language

30

30

20 mins

English

Quantitative Aptitude

35

35

20 mins

English & Hindi

Reasoning Ability

35

35

20 mins

English & Hindi

Total

100

70** / 100

60 mins

 

** English Language test will be of qualifying nature and the marks in the English Language will not be counted for ranking.

LIC AAO vs Bank PO 2023 mains Exam Pattern

LIC AAO and Bank PO recruitments conduct the mains exam for the candidates who clear the prelims exams. Once testing the fundamental skills, the skills like data interpretation, Computer skills, perspective Insurance, and Banking awareness will be tested in the mains exam.

LIC AAO vs Bank PO mains Exam Pattern

Section

Number of Questions

Maximum Marks

(SBI / IBPS)

Duration

Reasoning and Computer Aptitude

40

50

50 mins

English Language

35

40

40 mins

Data Analysis and Interpretation

30

50

45 mins

General/Economy/Banking Awareness

50

60

45 mins

Total

155

200

3 hours

Letter Writing and Essay section

2

50 / 25

30 minutes

Section

Number of Questions

(LIC AAO)

Maximum Marks (LIC AAO)

Duration (LIC AAO)

Data Analysis & Interpretation

30

90

40 mins

General Knowledge and Current affairs

30

60

20 mins

Reasoning Ability 

30

90

40 mins

Insurance and Financial Market Awareness

30

60

20 mins

Total

120

300

2 hours

English Language (Letter Writing & Essay)

2

25**

30 mins

** Descriptive tests of the English Language etc. will be of qualifying nature and the marks in the English Language will not be counted for ranking.

LIC AAO vs Bank PO 2023 Eligibility criteria

Bank PO Eligibility Criteria 2023

The  Eligibility Criteria for SBI and LIC exams 2023 mainly depend on three factors mentioned below.

  • Nationality
  • Age Limit
  • Educational Qualification

LIC AAO vs Bank PO 2023 Eligibility Criteria

Eligibility Criteria

LIC AAO

Bank PO

Nationality

Indian

Indian

Age limit

The Minimum age is 21 and the Maximum age is 30 as per the date of notification released.

The Minimum age is 21 and the Maximum age is 30 as per the date of notification released.

Educational Qualification

“Bachelor’s Degree in any discipline from a recognized Indian University/Institution”

“Bachelor’s Degree in any discipline from a recognized Indian University/Institution”

As per the LIC AAO vs Bank PO 2023 Eligibility Criteria comparison both exams have the same kind of Eligibility Criteria. 

LIC AAO vs Bank PO Working Hours

Since LIC only works five days a week, you get two weekends to yourself. However, the only Saturdays off for bank personnel are the second and fourth.

LIC AAO vs Bank PO Work Pressure

  • As AAOs are not expected to connect with potential clients to bring more business to the company (that is the responsibility of a LIC Agent), work demands in LIC may not be extremely strong.
  • A PO's workday is busier because they are expected to interact with potential clients in order to gain new clients for the bank.

LIC AAO vs Bank PO Transfer

Both bank PO and LIC AAO positions are comparable to one another in terms of transfers because both include transfers in (three to five years). The majority of LIC branches are found in urban areas, giving an AAO position an edge over a bank PO position, which can be posted at a bank branch in a rural area.

LIC AAO vs Bank PO Promotions and Future Prospects

In a bank PO position, you can anticipate a promotion within two to three years, while the same thing may take much longer in the case of LIC AAO (five to eight years)

Promotions in banks happen every two to three years on the following scale:

Bank PO

Assistant Manager

Branch manager

AGM

GM

 

LIC AAO Vacancy

LIC AAO vs Bank PO Perks and Benefits

1. Defined contributory pension

2. Special allowance for passing the actuarial examination

3. Gratuity

4. LTC

5. Cash medical benefit

6. Group mediclaim

7. Group personal accident insurance

8. Group insurance

9. Vehicle loan (2-wheeler/4-wheeler) as per rules.

LIC AAO vs Bank PO FAQs

Q: What is the salary of LIC AAO?

A: LIC AAO basic pay is Rs 53,600/- and covers special allowances, HRA, DA, and Transport Allowance which overall covers Rs 92,870/-

Q: What is the salary of Bank PO?

A: basic pay is 41,960/- (with 4 advance increments) on a scale of 36000-1490/7-46430-1740/2-49910-1990/7-63840

Q: How long will LIC AAO take to get promoted?

A: LIC AAO takes a minimum of five to eight years to get promoted. 

 

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