Due Dilligence on SA's
I've received an offer from a MM in New York for a summer analyst position (early, I know...they're the first I interviewed with).
How extensive are the background checks done on summer analysts?
I assume that the following will be checked:
The job titles I have on my resumes. The dates of my past positions. The locations of my past positions.
The bulelt points I have under each position.
Will they call my former employers and verify everything I SAID during interviews (that is not written on my resume)?
I may have bullshitted some numbers when asked "What discount rate did you use on this model you built?" Are they going to call the bank I worked at this past summer, repeat what I said about the models I built, and see how truthful I was?
I DID BUILD THE MODELS
All input is appreciated.
Depends on the bank... I know the process of a few MMs, having gone through their processes. Which bank are you doing?
It's seems very unlikely they'll do much more than confirm dates and titles. No one is going to ask about a discount rate in a model.
If your discount rate is off by more than 50 bps you are probably in trouble. I would stay up thinking about it and start freaking out now because theres no way you can keep your offer now.
Yea, I also heard they cut your balls off if you're off by more than 75 bps. Happened to a friend once. He hasn't recovered since...
Why the hell would they want to check a discount rate on some random financial model you worked on? The people in HR wouldn't know a discount rate if it hit them in the ass. As long as it's not grades, scores, awards...
If you're a SA they probably aren't going to be checking a whole lot anyway (depends on firm and division of the bank). Background checks are more thorough for FT positions.
Don't worry too much about the background check, as it's usually outsourced to some other firm which has tons of clients (like HireRight). They would only confirm the dates and places you list on your CV. Unless you have a big flagging error such as a undeclared criminal conviction, you'll be alright. Enjoy the rest of your break!
As said above, chill the fuck out. It'll most likely be outsourced to a 3rd party who will confirm that you worked at Company X, as Postion Y, for Period Z, and that you were a good employee. They may check extracurriculars where possible (my finance club in college has received several emails to confirm senior committee members were in fact senior committee members).
Do you really think a firm you used to work at is going to go through the bullshit of trying to work out what discount rate a SA used for some background check they place no importance on?
I understand where your coming from, and it's hard not to be paranoid, but honestly I would be surprised if they even contact your past employers. Summered at a BB last summer and none of my past employers were contacted, or student organizations for that matter. Don't get too caught up in worrying about this, chances are nothing will happen.
Adipisci numquam corrupti earum sunt et enim aspernatur ea. Eum neque quisquam aut voluptate accusantium. Neque aut itaque earum dolores. Occaecati numquam et perferendis est et.
Non labore et magnam quos consequatur sed rerum. Error est architecto numquam non aliquam eligendi. Ut sed qui non est maiores. Enim veritatis ut eveniet quia et doloribus vel.
Doloremque laborum et quidem. Beatae accusantium quia reprehenderit est.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...