Worried about getting an IB job after an arrest?
I was someone who was arrested multiple times in college (underage drinking 2x, resisting arrest, fake ID, lying to an officer) and up until the day that I started my job in IB, i was very worried that these things would come up and my job would be taken away. I searched wso for someone who had a similar experience, but could never find anything.
Well I am here to assure you that misdemeanors not related to the securities industry had zero effect on my job prospect. Idk if anyone will ever read this, but even if one person 5 years from now comes across this post as their anxiously searching WSO I'll be happy that I posted this because Ik it would've helped ease my stress. Obviously I cannot speak for every bank, but this was my experience. Don't let your past define you.
EDIT: As people have pointed out in the comments, fake ID clearly can f you. I will say that my fake ID charge was with campus police and was not a felony. Nonetheless, I'm happy that people are sharing their experiences because the more information that's out there the more clarity future readers can get
Damn sounds like you had an eventful college experience
Shout out to the lads who tore it up during uni and still landed FO roles
I was charged with a fake ID (felony charge) in college and it indeed cost me multiple summer analyst positions which I had worked most of college to attain. I ended up getting canned by BofA and in hindsight I thought I was being smart by choosing the offer with the best hiring manager relationship. Ended up being the wrong choice because (obviously) BofA has a massive compliance machine. I often wonder if some of the boutiques would have cared. Anyways, since it was a felony charge, they had no choice but to terminate the offer. That was a dark senior year in college, friends. However, fought like hell to get it sealed an expunged off of my record. I checked the "no" felony box for the bulge bracket bank and multiple buyside roles since and havent heard anything about it. I also have an MIP and public intox (from being in such a dark, drunken place my senior year). That cop ruined my life for several years. Luckily we had a family connection to the judge because the shitty college town in which the court/ police station was located was notorious for ruining people's lives.
ALL THIS TO SAY: NEVER GIVE UP KINGS.
Pretty sure the moral of your story is "fuck the police." Actually so many people's lives ruined by a power tripping badge.
...or it's don't break the fucking law and you won't get in trouble? If you got caught with a fake ID that's entirely on you.
unironically true, I get the whole "hur dur get drunk in college" meme but like dude seriously? I rather be working along someone serious rather than some clown with a drinking problem (and who had to use daddy's connection to get out) but of course, life isn't really fair is it?
Lol. Got a virgin over here
Two arrests here, both misdemeanor drug possession, one 9 years ago and one 11 years ago. Both are expunged convictions but could come up on an FBI check, which they do for financial jobs. However the FBI check is by law required to only show them relevant convictions such as theft, fraud, or insider trading. I would know, I was so freaked about the first background check that I called the service they were using to ask what would show up.
I have been through 3 background checks in the financial services industry: one at an insurance company (first internship) and the other two at BB banks. None of these firms have denied me employment after the background check, and the two banks didn’t even drug test me.
I think that, in general, we all have credentials, work ethics, and skills that surpass any misdemeanor conviction’s cause for worry at these firms. Also the culture is generally pretty “work hard, party hard” across the industry and that has been the case since the seniors were juniors. I mean, fuck, Moelis takes people to Vegas after a deal. Talk about being risk tolerant.
Reminder for kids reading this thread is to never talk to the police under any circumstances without a lawyer present. You do not have to talk to them but they will try to convince you that you have to. If the cops stop you for anything: ask if you are being detained. If so, answer "I invoke the 5th". The cops know they can intimidate young college kids into incriminating themselves. A rough night in jail while waiting to get a lawyer is much better than having charges stuck on your record.