New York THC/Marijuana Drug Testing Laws for IB Lateral
All,
I received an offer to lateral to a lower-tier bulge bracket IB group in the NYC office. I've been notified that the offer is contingent on successful passing of a drug test.
NYC recently passed a law (here) stating that most employers cannot pre-screen an applicant for THC/marijuana as a condition of employment.
From a legal perspective, is this being enforced, and should I expect that the test will only screen for non-marijuana drugs? Can they still make me take a THC/marijuana test? Does anyone have recent experience with this?
Thanks in advance!
This sounds like Lincoln International (not a BB but wouldn’t be surprised if you were changing facts), which if I remember correctly makes a big point of drug testing. I wouldn’t worry if in NY for THC though.
Think a lot of the midwestern MMs (Blair, Baird, Lincoln, etc.) have a bit more conservative culture than the coasts. Have definitely heard of people getting stern warnings after testing positive for weed (nobody fired tho). Don't think anyone in NYC would give a shit.
Lincoln is the only one I have heard drug tests and I know from experience that one of them doesn't. Also "Conservative" can mean a lot of things. These firms tend to be more laid back than big banks on things like drug tests and dress codes, so I don't think conservative really applies. It is really only Lincoln that is psycho about these things.
Ask HR rep what the details/logistics are for getting drug tested - the template sent may have been stale and they potentially don't do that anymore
Following
Can you name like a few banks with you’re as one of them? Ex. JPM/GS/MS
I have absolutely no idea about any of this, however... weed very recently became legal for recreational use in NYC (like within the last 7 days). I've not looked at the law nor have I read anything about it but from what I've heard it's now legal to have up to 3oz of bud on your person without running into any trouble. And so, if it's now legal, idk how much they'll care about testing for THC and if they did I'm not sure they would have any right to make a decision based on the results
Not saying they do care, but legality in NY may not be relevant when it is still illegal on a federal level. Lots of banks still won't do deals or let you even make trades in the industry because of federal laws.
I've no idea what urged me to post that comment but I definitely agree with yours. I think I meant to insinuate they may become less concerned with it going forward, as the law seems to be doing the same. "It" being testing frequency/focus. Again, no clue why I made the initial post. Not even something I indulge in haha.
Bump
How would the new law affect satellite offices like SF/HOU/CHI? Can a bank test some employees but not others?
Any word on this?
I went through pre-employment test recently in NYC for buyside. The test will either be 6-point or 9-point, however the lab instruction note clearly states 6-point minus THC or 9-point minus THC. What does that mean? Conventional tests checked for 6 prohibited compounds in urine (9 in enhanced version), but are now only testing for 5 (8 in enhanced) and not checking for THC. It’s a different matter if your employer is hell bent on testing for THC and asks to override the regulations.
Look up quickfixsynthetic.com and thank me later
Just to be clear, employers can still test for THC, they just can't legally discriminate their hiring based on the presence of it. Most banks just avoid the trouble altogether and don't test for it.
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