I'd say it depends on what you're looking for and what field you're in. I had a long career in PR in the private sector for a variety of agencies and nonprofits. I recently landed a job in public affairs with a federal agency. Though I took a slight pay cut starting out, I'm confident that, in the long run, my pay will increase much more steadily as I continue to earn good performance appraisals with step/grade increases, etc. But, really, I took the opportunity because it offers greater job security compared to the private sector as well as the flexibility to move around to different federal agencies should my promotion potential max out or I otherwise need to leave my current position. I'm 42 with a 4-year-old and a husband on disability so job security and the promise of great retirement benefits are, of course, more appealing to me than the big money with big risks associated with working at a large PR agency.
The only drawback is the fact that, while everyone kept telling me that my benefits would be "great," from what I see now, I'm not so impressed. I'm paying a higher premium and co-payment than I was in the private sector and I miss little but important things like the convenience of my FSA health benefits card (which is not yet offered in the fed...or at least by my agency.) I'm also peeved at how petty my agency -- or at least my dept. -- can be about leave, etc. I'm used to extreme flexibility -- as long as I billed a certain amount of hours per day and accounted for the rest of my time, it pretty much didn't matter where I was (i.e., I could telework in the morning if I had an appt. or make up time in the office.) Though my agency offers teleworking, it's set for one day of the week--everyone who teleworks is doing so on the same day...which I find a bit silly.
But giving up my play hard/work hard, flexible lifestyle, big salary and perks is (I'm hoping!) a small, temporary sacrifice for the longer-term benefit of to-retirement job security and guaranteed pay increases based on merit. Bottom line, you've got to decide where you are in life and decide accordingly.
Hope this helps!
Private sector are things that are owned by people. Public sector are things that are owned by the government.
Government is public sector. Corporations and partnerships are Private sector. The government wants to support both the public and private sector to improve the economy and well-offness of the people it serves.
The private sector is that part of business and commerce that is not run by the Government
Private sector's purpose is to produce; the public sector's purpose is to control, not to produce.
Most companies are in the "private sector" which means that they are not in the "public sector" (owned or operated by a government).
The difference between public sector and private sector is that when you're in the public sector you work for the government whereas private sector is not. Same applies to accounting.
It is an oxymoron. By its definition, a private sector enterprise cannot be run by government.
Private Sector
Government agencies are in the public sector while government contractors are in the private sector.
The private sector refers to non-government entities and does not generally include not-for-profit organizations.
Private sector banks refer to banks which have the majority of stock owned by private people. The government cannot own a controlling share in a bank designated as private sector.
The relevance of the private sector in the economy is to supplement the government. The private sector helps grow the economy by creating job opportunities in a given economy.