Salary and Promotion - Predictors of Job Satisfaction : A Comparative Study of Public and Private Sector Banks in India

Beyond the research literature and studies, job satisfaction is really considered a need. This issue is addressed on the basis of multifarious aspects of job satisfaction, which covers, salary, healthy growth of an organization, promotional techniques, and implementation of objectives, emotion regulation of employees, productivity, efficiency, turnover etc. These are found vital for the concern of job satisfaction. This is mainly due to the fact, many experts believe that, presence of job satisfaction can obviate the obnoxious environment and can result in overall development of an organization. The study is descriptive in nature and the data has been collected through a self designed questionnaire administered to 200 employees who are employed in different branches of public and private sector commercial banks. The Canara Bank was chosen to represent the public sector banks while from the private sector banks, ICICI Bank was chosen. One hundred two employees responded to the questionnaires. Out of which only 91 respondents gave correct feedback. Likert’s five point scale was used to determine the job satisfaction level of the respondents regarding salary and promotion. The respondents have been from top and middle management to lower level management. Overall, the present study reveals that employees need to be satisfied with their job to overcome the situation of absenteeism, role conflict, job induced tension, negative intention to leave the job and discrimination against them