Comparative study of Job satisfaction of the employees of Private & Public Sector Banks

It can be said that job satisfaction is largely a matter of an individual comparing his/her job and life expectations with those being offered. In shaping such job expectations, there are economic considerations (e.g. compensation and retirement benefits) and occupational and family considerations (professional satisfaction, job satisfaction, advancement opportunities, relocation, etc.). One of the biggest preludes to the study of job satisfaction was the Hawthorne studies. These studies (1924–1933), primarily credited to Elton Mayo of the Harvard Business School, sought to find the effects of various conditions (most notably illumination) on workers’ productivity. These studies ultimately showed that novel changes in work conditions temporarily increase productivity (called the Hawthorne Effect). It was later found that this increase resulted, not from the new conditions, but from the knowledge of being observed. This finding provided strong evidence that people work for purposes other than pay, which paved the way for researchers to investigate other factors in job satisfaction. Banking sector is one of those sectors which is not only the backbone of the whole economic system but also one of the biggest employment providers. The study is conducted in the public and private sector banks of Lucknow with the objective to bring out clearly the level of job satisfaction, causes of satisfaction and dissatisfaction in both public and private sector banks. Simple tabulation is used to comprehend the data as clearly as is possible.