Background check requested during “finalist” stage — what does this usually mean?

I’m currently in an internship recruiting process and wanted to get some clarity. I’ve already had two interviews (one with an MD and one with a VP). I just received an email saying:


“Congratulations on being considered a finalist”


“The background check process requires that we conduct a (Part 1) background check during the final round interview process.”


I’ve seen online that usually you only get asked for a background check once the offer is essentially locked in, and a friend who applied to the same firm last year said he got the same email and then received an offer like 2-3 weeks after.

But at the same time, the firm’s website says: “If you progress beyond the interview process, background checks are conducted as part of our onboarding process.” That makes me think it could still go either way.

I don’t want to get ahead of myself, but I’m a bit confused — does this generally signal that I’m basically through, or is it still very possible to get rejected after this step?
Would appreciate any insight from people who’ve been through something similar.

(I don't have anything on my record and i'm completely clean so background check shouldn't be an issue)

22 Comments
 

This is a good thing. They’re likely to formally offer you. My title is outdated, but fwiw I’m in a lateral process now where the same thing is going on (verbal offer, but no written offer until post background check)

 

Director in IB - Gen

it generally does signal that you are through. I haven't heard of any firm running parallel background checks for multiple candidates, although I technically guess they could. The reason they don't want to sound more committal over email is because they want to make sure you come back clean before verbally confirm confirming you

Makes sense. I just dont want to count the eggs before they hatch.


 

 

Hi OP, did you ever hear back from the position? I'm in the exact same boat right now, down to the wording and everything in the email haha

 

Sorry to hear that man, praying on your rise 🙏. Do you think it was truly something wrong with your background or some sort of internal candidate prioritization scheme that led to this?

 

Yeah its cheeks man. Idk what happened bc I'm 100% sure my record is completely clean. I think I would know if I had to something to worry about. 
I just think they had all of the candidates and then started discarding the ones they didn't like. 
I'm complaining here but I hate the fact that they just send over an automated email after everything and not give any feedback whatsoever. They just hand it to you.

 

Molestiae rem a itaque ut saepe voluptatem. Ut molestias alias rerum quo ut autem.

Et voluptas occaecati temporibus est consequatur fugit. Cum nobis et eligendi. Quas ex quam ipsa similique ut. Itaque eum recusandae consequatur est dolor earum. Numquam tempora quas eos ut blanditiis harum optio.

Career Advancement Opportunities

September 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Goldman Sachs 01 97.8%
  • Morgan Stanley 07 97.3%

Overall Employee Satisfaction

September 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 98.9%
  • Evercore 01 98.4%
  • Banco Santander 02 97.8%
  • BMO Capital Markets 12 97.3%

Professional Growth Opportunities

September 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 07 98.4%
  • Goldman Sachs 01 97.8%
  • JPMorgan No 97.3%

Total Avg Compensation

September 2026 Investment Banking

  • Vice President (16) $429
  • Associates (51) $260
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (26) $182
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”