These factors were identified as the first wave factors. The second wave is believed to revolve around three factors: corporate governance, competitiveness and the rule of law with public-private partnership as something new to look at. Overall, Brazil's SOEs are run professionally. The criterion for employment is qualification. An applicant has to write a public examination before he or she can be considered for employment. No civil servant can earn more than the Brazilian president and in actual fact people working for SOEs in Brazil earn less than those working in the private sector.