While you use .on(), it's basically a live query that you are using.
On the other hand, .ready (as in your case) is a static query. While using it, you can dynamically update data and do not have to wait for the page to load. You can simply pass on the values into your database (if required) when a particular value is entered.
The use of live queries is common in forms where we enter data (account or posts or even comments).