Securities and Exchange Board of India (SEBI) is an autonomous body, which has the responsibility of regulating and developing the securities market in India. SEBI is a regulatory body under the Ministry of Finance.
On the other hand, PFRDA or Pension Fund Regulatory and Development Authority is also a regulatory body which works towards the promotion and development of an organized pension system to cater to the old age income needs of the people. The PFRDA works under the Ministry of Finance.
Both SEBI and PFRDA are considered as important regulatory bodies in India because of the role they play in the growth and development of the economy. Therefore, to ensure a smooth functioning of these organizations both SEBI and PFRDA conduct recruitment drives regularly to recruit eligible candidates in Grade A (Assistant Manager) for various streams including the Legal stream. Hence, SEBI Grade A and PFRDA Grade A is a golden opportunity for law graduates who are seeking a career in the regulatory and development authorities.
In today’s article, we will shed some light on the similarities and differences between SEBI Grade A Legal and PFGRA Grade A Legal exam. If you are still confused about which one to choose, we would encourage you to stay till the end.
SEBI Grade A Legal & PFRDA Grade A Legal: First Step
The Law Officer post in SEBI as well as PFRDA is an entry-level job, wherein the selected candidates will be appointed as Assistant Managers in Grade A. In short, selection in Grade A will be the first step in the professional career of the selected candidates.
Let’s understand all the aspects of the SEBI Grade A Legal and PFRDA Grade A Legal exam in detail.
PFRDA Grade A 2022 Notification
The PFRDA Grade A 2022 notification was released on September 09, 2022. The Phase 1 exam will tentatively be held in the first week of November 2022, and the Phase 2 exam is likely to be conducted in the second week of December 2022.
SEBI Grade A 2023 Notification
Similarly, the SEBI Grade A 2023 recruitment notification is expected to come out in December 2022. Moreover, the Phase 1 exam is likely to take place in the last week of January 2023 and the Phase 2 exam is tentatively scheduled to take place in the last week of February 2023.
The SEBI Grade A Legal exam pattern and the PFRDA Grade A Legal exam pattern are quite similar. However, there is a slight difference in the minimum qualifying marks of PFRDA Grade A Legal. Both the exams will be held in three phases-
Let’s look at the Phase 1 and Phase 2 exam pattern of SEBI Grade A and PFRDA Grade A in detail.
Phase 1 Exam Pattern
The Phase 1 exam of SEBI Grade A and PFRDA Grade A will be qualifying in nature. Furthermore, the exam pattern of both the exams is the same.
SEBI Grade A Legal
|Paper||Stream / Subject||Maximum Marks||Duration(minutes)||Cut Off(%)|
|Paper 1||All Streams: Multiple choice questions on the subjects viz. General Awareness (including some questions related to Financial Sector of easy to moderate difficulty level), English Language, Quantitative Aptitude and Test of Reasoning.||100||60 minutes||30|
|Paper 2||Legal stream: Multiple choice questions on Specialized subject related to stream.||100||40 minutes||40|
PFRDA Grade A Legal
|Paper||Stream / Subject||Maximum Marks||Number of Questions||Time Duration|
|Paper 1 All Stream: Multiple choice questions on the subjects||English Language||25||20||60 minutes|
|Test of Reasoning||25||20|
|General Awareness (including some questions related to financial sector)||25||20|
|Paper 2||Legal Streams: Multiple choicequestions on Specialized subjects related to stream.||100||50||40 minutes|
Phase 2 Exam Pattern
The Phase 2 pattern of both exams is the same as well. Take a look at the Phase 2 exam pattern below-
SEBI Grade A Legal
|Paper||Stream/Subject||Maximum Marks||Duration (Minutes)||Cut-off (%)||Weightage|
|Paper 1||All streams: English (Descriptive Test) to test the drafting skills||100||60 minutes||30||1/3rd|
|Paper 2||Legal Stream: Multiple choice questions on Specialized subject related to stream.||100||40 minutes||40||2/3rd|
PFRDA Grade A Legal
|Paper||Stream/Subject||Maximum Marks||Number of Questions||Time Duration|
|Paper 1||All Stream: English (Descriptive Test) to test the drafting skills||100||3||60 minutes|
|Paper 2||Legal Stream: Multiple choice questions on Specialized subject related to stream.||100||50||40 minutes|
Similarities and Differences in Phase 1 and Phase 2
- In SEBI Grade A Legal, the candidates have to score a minimum cut-off i.e 1/3rd and 2/3rd in Phase 1 as well as Phase 2 to qualify for Phase 3 i.e. Interview. Whereas, in PFRDA Legal you will have to secure separate cut-offs in each paper as well as overall cut-off marks in Phase 1 and Phase 2, which will be decided by the Authority.
- In PFRDA Grade A Legal exam, the total number of questions to be asked are also specified in the notification, whereas, SEBI provides a separate information handout for the same prior to the exam.
- The PFRDA Grade A Legal Phase 2 to Interview ratio is the same as SEBI Grade A Legal exam i.e. 85:15.
The PFRDA Grade A Legal syllabus is largely similar to the SEBI Grade A Law Officer syllabus. However, there are two additional subjects in the syllabus of PFRDA Grade A Legal exam i.e. PFRDA Act, 2013 and IRDAI Act, 1999.
One essential thing to check before you apply for the SEBI Grade A Legal and PFRDA Grade A Legal exam is the eligibility criteria. Luckily, the SEBI Grade A Legal and PFRDA Grade A Legal eligibility criteria for both the exams are the same.
To be eligible for the SEBI Grade A Legal and PFRDA Grade A Legal, you must be a Graduate in Law. Moreover, no post qualification experience is required to apply for this post. Therefore, it is a great opportunity for freshers as well.
The age criteria for both the exams is the same as well i.e. candidates must not have exceeded the age of 30 years. Furthermore, SEBI and PFRDA also provide a relaxation in the upper age limit for candidates belonging to the reserved categories.
One of the major reasons why the SEBI Grade A Legal and PFRDA Grade A Legal exam is popular among the young aspirants is because both these organizations offer a handsome salary package along with a dynamic work environment and respectable job profile. Let’s look at the details regarding the SEBI Grade A Legal salary and PFRDA Grade A Legal salary and additional benefits.
|Parameters||SEBI Grade A (revised)||PFRDA Grade A (as per 2022 notification)|
|Pay Scale||Rs. 44500-2500(4)-54500-2850(7)-74450-EB-2850(4)-85850—3300(1)-89150 (17 years)||Rs. 44500-2500(4)-54500-2850(7)-74450-EB-2850(4)- 85850-3300(1)-89150 (17 years).|
|Perks and Allowances||Apart from the basic salary, candidates appointed in Grade A are also entitled to certain allowances: |
Special Functional Pay,
City Compensatory Allowance, Family Allowance,
Special Compensatory Allowance,
Learning Allowance, Personal Fixed Allowance
|PFRDA Grade A candidates are entitled to receive the following benefits apart from their basic salary:|
Leave Fare Concession, Medical Expenses (Hospitalization and Non-Hospitalization),
Personal Accident Insurance,
Eye Refraction/ Cost of Spectacles,
House Cleaning Allowance,
Staff Furnishing Scheme,
Scheme for Purchasing Computers, Sodexo Meal Card
|Monthly Emoluments||Rs. 1,35,000/-||Rs. 1,40,000/-|
|Qualification Allowance||No such allowance is given by SEBI||Yes, Rs. 3,500 to Rs. 80,000|
|Probation||2 years||1 year|
Apart from the handsome salary package, both SEBI and PFRDA give their employees ample opportunities to grow and excel in their career. The promotions are done on the basis of performance and number of vacancies available for that post. Therefore, to work in organizations like SEBI and PFRDA would be a dream come true for any aspirant who wishes to join the government sector. Furthermore, the order of hierarchy is also the same in both SEBI and PFRDA. So, based on your performance in SEBI/PFRDA, you will be promoted in the following order of hierarchy.
Since the SEBI Grade A Legal and PFRDA Grade A Legal exam is very similar with respect to many aspects, it would be difficult to decide which one to choose. Ultimately, the final decision will lie with you. However, given all the similarities found in both these exams, it would be wiser to apply for both SEBI Grade A Law Officer and PFRDA Grade A Legal exam. In fact, if you are preparing for SEBI Grade A Legal 2023, you can give the PFRDA Grade A Legal 2022 exam a go. So, when the time comes to appear for the SEBI Grade A Law Officer 2023 exam, you will be well prepared for it as you will have a fair idea of what to expect on the day of the exam.
Study with ixamBee
If you are preparing for SEBI Grade A Legal and PFRDA Grade A Legal, you can check out ixamBee’s individual courses for both these exams that will help you in making your preparation easier. Both the courses have been created by our expert faculty while keeping the latest exam pattern in mind. Some of the features of the SEBI Grade A Legal Online Course and PFRDA Grade A Legal Online Course are given below-
- Video Lessons covering the entire syllabus for conceptual knowledge clarity.
- Study Notes
- Full-Length Practice Tests
- Practice questions for the Legal stream with detailed solutions and explanations
- Doubt clarification with the subject experts
- Interview Guidance will also be provided
We hope that the information provided in this article helps you in making an informed decision.
All The Best!!