The experienced fund management hiring at the National Pension Service fund management headquarters that began in April was wrapped up on the last month, but it failed to fill the planned headcount of 26.
Competition for jobs was fierce in alternative investments, but the stocks and bonds areas either hired no one since last year or saw extremely low competition. Concerns are rising that the fund management headquarters, which requires a high level of expertise, is facing a severe hiring crunch.
According to the public institution management information system "Alio" on the 11th, the National Pension Service fund management headquarters hired 18 people in the first experienced fund management recruitment this year.
The National Pension Service conducted hiring across 13 areas: investment strategy, stewardship, domestic equities direct management (passive, quant, index), domestic bonds, overseas equities, overseas bonds, private equity, venture investment, real estate investment, infrastructure investment, alternative risk management, fund legal affairs, fund information fund information, fund information fund information AI.
The original plan was to add 26 experienced employees. But the actual number hired reached only 70% of the plan.
Final competition ratios by area ranged from 0-to-1 to 21-to-1. Alternative investments again showed high competition this year. The highest final ratio, 21-to-1, was in the private equity and venture investment area. Real estate investment and infrastructure investment also posted final ratios of 15-to-1 and 7-to-1, respectively.
In alternative investments, hiring competition has remained high since last year. In the first recruitment last year, the private equity and venture investment full-time area posted a final ratio of 8.5-to-1, and real estate investment (18-to-1) also showed high competition. The same held in the second recruitment (private equity and venture investment 12-to-1, real estate investment 27-to-1) and the third recruitment (private equity and venture investment 6-to-1, real estate investment 14.5-to-1).
By contrast, some areas have not hired a single experienced employee since last year. Domestic bonds is representative. In the first round this year, six people applied and four reached the final stage, but it ultimately failed to find the right person. It posted a final ratio of 0-to-1. The domestic bonds area did not hire in the second and third rounds last year or in the first round this year.
In domestic equities, the final competition ratio was 4-to-1 (one person hired), in overseas equities it was 3.67-to-1 (three people hired), and in overseas bonds it was 2-to-1 (one person hired), showing relatively low competition.
Compared with the third round last year, the previous recruitment, the ratios fell further. In that third round, final ratios were 7-to-1 in domestic equities research, 5-to-1 in overseas equities outsourced management, 4-to-1 in overseas equities direct management, 0-to-1 in overseas equities equity strategy, and 4-to-1 in overseas bonds.
Excluding the overseas equities equity strategy area, which hired no one, all first-round ratios this year declined.
Meanwhile, entry-level hiring for fund management at the National Pension Service held during the same period posted a final ratio of 12.40-to-1, selecting five people. Although it was the first entry-level intake in four years, only 62 applied.
A source in the financial investment industry said, "Because the National Pension Service fund management headquarters is based in Jeonju, job changes are often difficult, which appears to be causing a severe hiring crunch."