dealmaven123:
Streetluck, are you saying it took two weeks after your offer or they actually spent two weeks going through your background info?
It took them two weeks from the time I sent in my background check info (release forms, employment history, address history, etc.). Other summers I have spoken with at my bank reported a similar waiting period.

I have no idea why they needed my high school transcript. All I know is that I signed a release form giving them permission to get it.

 

Goldenstate,

The college one makes a lot of sense (see the current poll). I'm surprised high school transcripts would be used since those grades aren't really part of the picture. I'm also surprised no one has mentioned SAT reports since these might get lied about as well.

 

Yeah, my bank might have gone a little overboard on the background stuff. I had to give them 10 years of employment history, address history, education history (this itself took me about a week to get all the information together).

My roommate, who is working for a different BB, had a very simple process compared to mine. My whole process (from signing the letter to clearing the background check) took almost a month, and they still only give me "preliminary clearance". I have to give them my fingerprints during training for final approval.

 
Best Response
StreetLuck:
Yeah, my bank might have gone a little overboard on the background stuff. I had to give them 10 years of employment history, address history, education history (this itself took me about a week to get all the information together).

My roommate, who is working for a different BB, had a very simple process compared to mine. My whole process (from signing the letter to clearing the background check) took almost a month, and they still only give me "preliminary clearance". I have to give them my fingerprints during training for final approval.

I think I'll see you when we get there. Mine is still under review. School, employment and residence in several countries--info needs to be translated. ...to confuse things further I am a multi-national, one being American. HR is talking with me almost daily, they say I win the record so far for most difficult background check yet...and shit, that's only for 10 years--if they wanted to go from birth, it will take years to get done!!!! I think it has been almost six weeks and counting now. And yes, HS transcript required for me too.

 

Yeah, I was employed under the table for a long time too. Since this is obviously illegal, there's no way HR is going to confirm me working there. How do you write that in to the background information. Any thoughts? Anybody been through a similar situation?

 

StreetLuck, do you know if the process is just as intense for summers as opposed to full-time? Do you think they'll go through and call all the places I've worked? or just the financial ones? Did they really call all your former employers?

 

Why is everyone getting so stirred up over background checks? Knowing if and when your bank does a background check is not going to change whether or not you have to do it. You also can't "go back" and fix what you've said so why stress out about it? Also, why are you doing things that would put you at risk for failing a background check to begin with?

My background check was done a long time ago. I was never notified it was complete. Simply not getting a call was notification. As long as you are honest on your resume and with what you say, you shouldn't need notification, you should know you passed.

CompBanker’s Career Guidance Services: https://www.rossettiadvisors.com/
 
CompBanker:
Why is everyone getting so stirred up over background checks? Knowing if and when your bank does a background check is not going to change whether or not you have to do it. You also can't "go back" and fix what you've said so why stress out about it? Also, why are you doing things that would put you at risk for failing a background check to begin with?

Are you serious? You can't go back and fix something, but can certainly make sure your records at various places are accurate. For example, I had to remind a couple of past employers what my dates of employment were because I was an unpaid intern, and wasn't on their records. If I wouldn't have checked up with them, and reminded them of my employment, my bank would have called some place I worked 5 or 6 years ago, and thought I was lying because I wasn't in the records.

I'm not sure what type of b/g check your firm did, but if I would have just sat back and let it happen without pro-actively anticipating what might go wrong and taking care of things, my background check would probably still be going on.

 
CompBanker:
Why is everyone getting so stirred up over background checks? Knowing if and when your bank does a background check is not going to change whether or not you have to do it. You also can't "go back" and fix what you've said so why stress out about it? Also, why are you doing things that would put you at risk for failing a background check to begin with?

My background check was done a long time ago. I was never notified it was complete. Simply not getting a call was notification. As long as you are honest on your resume and with what you say, you shouldn't need notification, you should know you passed.

I'm kind of in the same boat as you Compbanker. Everyone is stressing out about background checks. I was also never notified whether my background check was complete. I also never freaked out over dates or manager's contact information. If I didn't know something, I left it blank.

 

Street, When you say absolutely, do you know multiple people who have gotten canned as a result of the BR Check? Would would mind sharing any specifics as to what aspects of the check their firing pertained to?

 
wildwestderivative:
Street, When you say absolutely, do you know multiple people who have gotten canned as a result of the BR Check? Would would mind sharing any specifics as to what aspects of the check their firing pertained to?
One for GPA, one for being unable to confirm employment details (he lied about the reason for termination) and one for lying about his activities on campus.
 
paulsonator333:
Checking on campus activities? If you're talking about clubs, that would be an absolute wild goose chase; there's so many ways to cover your tracks with that.
The guy that was turned down for lying about campus activities falsely claimed he was the president of a major organization on campus.

His offer was at a boutique where a 1st year analyst was still involved with the organization as an advisor(same college), so immediately knew the guy was lying. The background check agency didn't check for this, but he was still fired for listing false information on his resume.

 

One girl was turned down at a BB firm because she got a negative reference of one of her part time jobs in the past..

It appears we may conclude that there seems to be 3 reasons to be turned down:

  1. Criminal record/Bad credit history
  2. Lying on the resume about activities on campus or internships etc you have never done
  3. Receiving negative references from past part time or full time jobs
 

What was he thinking? is he that broke? you could at least make the minimum payment...but I personally think that wouldn't be enough to take an offer away

 

Yup, buy champagne with money you don't have is the sign of a real baller...maybe a mini-baller.

Anyway, my bank checked my credit history and I am under the assumption that is does make a difference. People who don't pay their bills and can't be responsible for their own finances and personal lives are not the types you want working under you. Too much potential drama and irresponsibility.

 

Alright, if I were to take guess, I would say you have to disclose it on the background check form because any inconsistency between the form and your resume usually raises flags. Since your boss is out of the country, I highly doubt they can track him/her down.

 

from my exp, background checks were done after you accept the offer and it's usually done by a third party. However when i worked for a certain BB firm (now a bhc), I didnt get background check results until my third month of employment (there was a discrepancy with my summer job listed as during my freshmen yr vs sophomore yr). I had to get my summer employer to contact them to reconcile the check.

 

Firms do use a 3rd party background checking service and they typically receive info 4-6 weeks after you have started employment.

They report everything. If you have some shit on your record and lied about it on your application you are likely SOL. Honesty is a big thing in finance.

Follow me on insta @FinancialDemigod
 
AssociateGuerilla:
Firms do use a 3rd party background checking service and they typically receive info 4-6 weeks after you have started employment.

They report everything. If you have some shit on your record and lied about it on your application you are likely SOL. Honesty is a big thing in finance.

Why after you started? Wouldn't it make more sense if they knew those things before you start?

 

Jack, honestly - are you implying that if you come across as a liar (read: unethical) in your application or interview, you are going to have a shot getting in the door? What you do once you are in is entirely on you - but for kids in the application process, I think it's only fair to let them know that recruiters tend to lean towards applicants who a)have a clean record or b) if they have a minor stupid conviction, disclose it fully.

Follow me on insta @FinancialDemigod
 

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