Undeserved Privileges
On average, the 3rd and 4th generations of the families of major shareholders in the top 30 conglomerates become executives at the age of 31.5, only 3.5 years after they join the company.
CEO Score, an online company evaluation site, conducted a survey of 44 different 3rd and 4th generation linear descendants of major shareholders in the top 30 groups. It said that they become executives at the age of 31.5 on average, only 3.5 years after they joined the company at the age of 28.
Out of the 44 people surveyed, 32 are currently an executive at a company, with 27 men and 5 women. The survey had to discount Cho Hyun-ah, former executive at Korean Air.
The men joined the company at the average age of 28.5 and became an executive at 32 on average. The women joined the company at 25.6 and became executives at 29.7 years of age. The average time for them to become executives was 3.5 years for the men and 4 years for the women.
Nine of the 3rd and 4th generations persons became executives immediately, becoming involved in management as soon as they joined the company. That means one in three became executives without any other kind of experience at all.