Sebi eliminates over 99% of applicants in first round

The Securities and Exchange Board of India has eliminated 99.7% of the initial applicants in the first round of its recruitment drive.

The next round of interviews will eliminate seven out every ten remaining candidates.

Competition higher for a job with the market watch dog being higher than many prominent domestic and global brands. Sebi’s recruitment drive began with over one lakh applicants for a mere 75 seats.

This has been whittled down to 247, according to a notice on the Sebi’s website.The number of applicants for a Sebi post were higher than for the State Bank of India, or Google.

There were 1,333 candidates for every seat in Sebi compared to 1,133 in SBI and 130 in Google, according to figures reported in the media.

The regulator was looking to recruit officers from a pool of candidates who had a postgraduate degree or had professional qualifications. It has offered a pay package of Rs 11 lakh.

Applicants took an online examination consisting of multiple choice questions for 200 marks. It was held across 15 centers including Mumbai, New Delhi, Patna and Jaipur.

The deadline for submission of documents for the next round is October 7, 2013; according to the Sebi website.