Advantages and Disadvantages of working in the private sector

Advantages and Disadvantages of working in the private sector

 

There are pros and cons to working in the private sector as well as the public sector. Public sector brings with job security, power, and a lot of perks. However, on the contrary, there is slower growth, and often, you can feel stagnated, doing the same job over and over again.
   
Here is a detailed look at the advantages and disadvantages of working in the public sector. As for the private sector, it has both the sides of the coin too. Let’s take a look at the pros and cons of working in the private sector.

Advantages of working in the private sector

• More employment opportunities- The private sector has plenty more employment opportunities than the public sector. In fact, finding a job in the public sector is nothing short of a miracle. On the other hand, if you are skilled enough, you will be picked up by an organization in the private sector sooner or later.
    
• Good start- Private sector jobs offer a batter start than public sector jobs. Salaries for entry level jobs in private sector are relatively higher than those for public sector jobs.
    
• Fast growth- If you are looking for fast growth in your career, private sector is meant for you. In the public sector, promotions are based on experience than skills. However, in the private sector, if you have the talent, you could quickly get promoted to the higher echelons. The key is to keep working hard.
  
• Better job satisfaction- Everyday is a challenge in the private sector. There are new clients, new projects, and new deadlines to meet. That keeps the whole atmosphere very dynamic and charged up. If you are seeking job satisfaction, you are likely to find it in the private sector than the public sector.
    

Disadvantages of working in the private sector

• Stressful environment- Private sector is more stressful than the public sector. There are tough deadlines to meet, and often, employers seek perfection. There are longer working hours, and odd working shifts. All this can take a toll on you, mentally, as well as physically.
    
• Fear of job cuts- Private sector is very volatile when compared to the public sector. If the economy is weak, and the business is slow, employers in the private sector do not hesitate in laying off people. In uncertain economic times like these, working in the private sector comes with a lot of risk.
    
• Cut-throat competition- You have to face cut-throat competition in the private sector. In other words, you have to be constantly on your toes in order to keep your job and keep moving forward. Office politics is also more common in the private sector than the public sector.

That was an overview of the pros and cons of working in the private sector. That should give you a fair idea of where you are best suited, according to your priorities- the public sector or the private sector.