Competition for NPS investment division’s new hires at its lowest
Aug 26, 2016 (Gmt+09:00)
South Korea’s National Pension Service (NPS) has drawn slightly over 200 applicants for about 30 positions opened at its fund management division, hitting a record-low competition rate for the division's recruitment, an NPS source said on August 25.
“Generally, we shortlist applicants for interview to three to four times the number to be actually hired,” the source told the Korea Economic Daily. “But with that number of applicants, it is hard to make an interview pool of that size.”
It is the first time for the NPS to see the competition rate for in-house fund management jobs falling below 10:1, according to online news outlet Moneytoday. At its height, the average competition rate for those posts was 13:1.
The number of the NPS’ fund management division staff has declined to 224 since the departure of 16 workers so far this year. The division sees about 260 as the appropriate number of employees, Moneytoday reported.
“Should we fail to find qualified candidates, we cannot help but scale back this round of recruitment,” the online news quoted an unnamed NPS source as saying.