The 5th Highest Starting Salary at Public Institutions is 50.79 Million KRW at 'Shinbo'... Guess Who's Number 1

Incruit Survey of 146 Public Institutions
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The average starting salary for new employees at public institutions this year was 39.64 million KRW. Among public institutions, the highest average starting salary was at the Industrial Bank of Korea (IBK).

On the 18th, Incruit announced the results of an analysis of starting salaries for new employees at 146 public institutions that disclosed salary information, using the directory book provided at the '2024 Public Institution Recruitment Fair.' A total of 151 public institutions participated in this fair, of which 146 disclosed salary information.

On the 17th, job seekers are looking at the recruitment information board at the 2024 Public Institution Recruitment Information Fair held at the aT Center in Yangjae, Seoul. Photo by Younghan Heo younghan@

This year, the average starting salary for full-time new employees at public institutions was 39.64 million KRW. This represents a 0.8% increase compared to last year's average starting salary of 39.33 million KRW, and a 3.0% increase compared to 2021. Among the surveyed institutions, the highest full-time starting salary was at the Industrial Bank of Korea, where the average starting salary was 53.35 million KRW. The starting salary at IBK increased by 1.2% from 52.72 million KRW last year.

Following IBK were ▲Korea Atomic Energy Research Institute (52.53 million KRW) ▲Korea Investment Corporation (51.17 million KRW) ▲National Research Foundation of Korea (51.02 million KRW) ▲Korea Credit Guarantee Fund (50.79 million KRW) ▲Korea Development Bank (50.00 million KRW), all exceeding 50 million KRW in starting salary. Additionally, ▲Agency for Defense Development (49.90 million KRW) ▲Korea Institute of Nuclear Nonproliferation and Control (49.76 million KRW) ▲Korea Technology Finance Corporation (49.60 million KRW) ▲Korea Foundation for the Advancement of Science and Creativity (48.39 million KRW) ranked within the top 10 for starting salaries.

When categorizing starting salaries by range, those in the 40 million KRW range accounted for 45.9%, the largest share. Next, the 30 million KRW range accounted for 47.3%, meaning that 93.2% of public institutions had starting salaries between 30 and 40 million KRW. Other ranges included 5.0 million KRW at 4.1% and 20 million KRW at 2.7%. The lowest starting salary was 27 million KRW.

The ranking of average salaries by sector was ▲Finance (44.66 million KRW) ▲Research and Education (42.85 million KRW) ▲Energy (40.90 million KRW) ▲SOC (Social Overhead Capital) (38.78 million KRW) ▲Industrial Promotion and Informatization (38.66 million KRW) ▲Culture, Arts, Diplomacy, and Legal Affairs (37.81 million KRW) ▲Employment, Health, and Welfare (37.15 million KRW) ▲Agriculture, Forestry, Fisheries, and Environment (35.16 million KRW).

The 2024 Public Institution Recruitment Fair was held on the 17th and 18th at the aT Center in Yangjae-dong, Seocho-gu, Seoul. The Ministry of Economy and Finance, which organized the fair, announced plans to increase new hires at public institutions by 10% compared to last year, aiming to recruit more than 24,000 people this year.