Non-Majors and No Specs Also Pass... Financial Companies Select Talent with 'Practical Skills'

Practical Skills and Financial Literacy More Important Than SKY University
Non-Majors and No-Spec Job Seekers Increasingly Joining Banks
Interviewers Also Say "Practical Verification Over Abstract Questions"

Kim Chi-hwan (29, pseudonym) applied for and passed the regional agricultural cooperative general staff level 6 recruitment held in the first half of this year. When he graduated from a non-major department at a junior college, his GPA was below 3.0. Although his so-called 'specs' were lacking compared to other applicants, he developed financial literacy by repeatedly reading finance textbooks and envelope mock exams. Kim said, "The blind recruitment was so thorough that everyone was evaluated equally based on ability, regardless of the level of their specs."

[Asia Economy Reporter Song Seung-seop] As the financial sector prepares for a joint recruitment fair, the trend of 'de-spec' hiring in finance is gradually intensifying. The practice of applying blind recruitment but effectively only hiring SKY (Seoul National University, Korea University, Yonsei University) graduates is also disappearing. Some places conduct interviews like selling products on-site. Financial companies, traditionally known for emphasizing academic background, language skills, and certifications, are now carefully evaluating practical skills and financial understanding.

According to the financial sector on the 19th, recently, so-called 'non-major and no-spec' job seekers have been entering the industry. This is the result of financial companies strictly implementing blind recruitment and issuing large-scale job announcements in the first half of this year.

NH Nonghyup Bank, which announced recruitment for about 340 new employees in February, is considered a financial company that strictly enforces blind recruitment. During open recruitment, writing information unrelated to practical skills such as name and alma mater is prohibited. Disadvantages are given if such information is revealed in self-introductions or interviews.

KB Kookmin Bank and Woori Bank conducted role-playing interviews during last year's second half recruitment process. This was to evaluate practical financial product understanding, customer service skills, and quick thinking rather than abstract abilities. Although the products were virtual, tasks included somewhat complex products such as deposits, trusts (funds), savings insurance, and loans. The method was conducted as if selling products to actual customers.

As a result, financial talents who scored high in practical skills have been passing despite lacking specs. Yang Jung-woo (36, pseudonym), who recently passed NH Nonghyup Bank's new employee recruitment, is older than typical new employees but scored high in the finance-related economic part. Although a non-major and having worked in a general company for 6 years and 6 months, it did not hinder his acceptance.

'Even without academic background, language skills, or certifications, practical experience and financial literacy are enough'

Park Seon-yang (28, pseudonym), who graduated from a non-metropolitan university, passed both KB Kookmin Bank and Woori Bank in the second half of last year without language scores or certifications. Park studied the structure by looking up each deposit, fund, ISA account, and loan product sold by the two banks. Park said, "Although the products were virtual, I studied actual products, so I could quickly understand them during the interview."

On a financial job seeker community with 540,000 members, about 150 similar final acceptance reviews were posted in the first half of this year. Most reviews said, "Since it was blind recruitment, there was no need to write university or GPA," or "They didn't even ask about certifications or language study abroad experience." Instead, simple but basic knowledge questions like explaining what the Debt-to-Income ratio (DTI) and Debt Service Ratio (DSR) are were asked.

Interviewers participating in evaluations are also tending to ask practical questions rather than abstract ones. A financial sector official explained, "Now, questions like whether you have tried something before are rarely asked. Instead, practical questions such as what to do if money is short during settlement or how to handle customers on the blacklist are mainly asked."

However, among some applicants, there are complaints that the emphasis on practical experience has increased the importance of internship experience rather than the main recruitment. In fact, many successful candidates list similar experiences or internships at financial public enterprises.

A financial job seeker said, "Unlike the main recruitment, some internships do not apply blind recruitment," and lamented, "Practical experience is the most important in open recruitment, but internship positions give high scores to good academic background, certifications, and language skills."

This content was produced with the assistance of AI translation services.