Comments (4)

 
Jun 26, 2011 - 10:38pm

If you disclose it openly and it is in the past, it should not be a problem.
The problem comes with bonding. If you have current credit problems and large amount of outstanding debt even with a perfect credit score, then it becomes a problem to get bonding for you.

 
Jun 26, 2011 - 10:42pm

Bad credit is not an issue. Even bankruptcy won't make a difference (you would have to disclose it). The problem comes with the fact that you need to be sponsored to get these licenses and more and more companies are using credit reports as an element of a background check. Having a couple CC's with high credit limits is not an issue, nor is a couple late payments. If you have serious charge offs and collection attempts you will find it hard to pass credit checks.

If you can't get hired, you can't get sponsored. Catch 22.

 
Jun 26, 2011 - 11:32pm

From what I know at least, credit means a lot more for commercial bankers than investment bankers/ traders. Commercial banks may do extensive and frequent credit checks, whereas most IB HR folks might tell you that they've never fired someone or refused to hire someone based on their credit score. Of course, the practices may vary bank to bank, but I'd say BB HR won't refuse to hire you if your credit is bad, unless you've filed bankruptcy numerous times or something extreme. Bad credit isn't going to get you kicked out the door, IMO. If anyone's experienced something different firsthand, definitely correct me though.

Start Discussion

Popular Content See all

Received my PWP rejection email!
+91IBby Prospective Monkey in Investment Banking - Mergers and Acquisitions">Prospect in IB-M&A
Is Evercore the next Bulge Bracket bank?
+24IBby Intern in Investment Banking - Mergers and Acquisitions">Intern in IB-M&A
I got a top IB SA offer thanks to WSO
+17IBby Prospective Monkey in Investment Banking - Mergers and Acquisitions">Prospect in IB-M&A
Is Liontree the next bulge bracket bank?
+17IBby 1st Year Analyst in Sales & Trading - Equities">Analyst 1 in S&T - Equities
Biggest Regret in Undergrad
+16IBby Prospective Monkey in Investment Banking - Mergers and Acquisitions">Prospect in IB-M&A
Virtual Summer Interns - which banks sent you WFH gear?
+15IBby Intern in Investment Banking - Industry/Coverage">Intern in IB - Ind

Total Avg Compensation

October 2020 Investment Banking

  • Director/MD (17) $704
  • Vice President (49) $326
  • Associates (263) $229
  • 3rd+ Year Analyst (36) $168
  • 2nd Year Analyst (147) $159
  • Intern/Summer Associate (136) $141
  • 1st Year Analyst (579) $130
  • Intern/Summer Analyst (555) $82

Leaderboard See all

1
LonLonMilk's picture
LonLonMilk
98.4
2
Jamoldo's picture
Jamoldo
98.3
3
Secyh62's picture
Secyh62
98.2
4
CompBanker's picture
CompBanker
97.8
5
redever's picture
redever
97.7
6
Addinator's picture
Addinator
97.6
7
Edifice's picture
Edifice
97.6
8
NuckFuts's picture
NuckFuts
97.5
9
frgna's picture
frgna
97.5
10
bolo up's picture
bolo up
97.5