RBI Grade B or a 18LPA Private Job?

Rather than comparing the present salary in both the jobs, I would compare career in two scenarios. The decision is individual’s, because at the end it is like what you like more:

1. RBI is a life time job and private job is daily fight- In RBI, every 3–4 months you get a reasonable salary hike, every-year you get some increment and every 5 years you get 20–30% hike due to wage settlements. This trend is going to continue till your retirement. After your retirement also there is a pension plan. While in private job you may get 0%–40% salary hike year on year. Starting today at Rs.20 lakh and with 20% increase every year you may get Rs.50 lakh pa after 5 years. You may also lose your job and may be struggling to get another good job in coming years.
2. RBI is sailing in ship and private job is roller-coaster ride - RBI is a big institution. There are well defined systems and process and job cards for every desk. Scope of your work is defined. You are not going to get out of turn promotion or a President medal for your extra-ordinary performance. In private job you will be rewarded or fired immediately for great and poor work respectively.
3. Work life balance -RBI job is a good work life balance. Office is 5 days a week and once you are back to home you hardly get disturbed by office work. In private jobs you may be working 24x7 and still struggling to save your job. But now a days good companies realize the importance of quality work and family time.
4. Power and prestige - RBI job is highly respected is no match with whatever position you have in a private company. However, society is changing and culture of Red-beacon (though RBI officer didn’t have it) and so called power is slowly dwindling. Still government jobs will always have certain prestige.
5. Black-swan events of life- Govt job is best in case of certain unfortunate events of life like critical illness or some serious accidents. In RBI your job is safe and you will be paid, but in private jobs if you are not able to work you will not get any salary; you may rather lose your job.

If you like a challenging life where you will be rewarded for your great work go for private job but be ready to face brutal failures if things are not in your favour. After the failure and struggle you can shine again.

However, if you want a peaceful and respectable life in which you can give more time to your family and friends choose RBI.