What the question states. Is there any way for them to verify it? I've read on this site that past employers can't disclose how much you made, so I was wondering if there's any way for them to confirm that you made what you said you made with your own business.
Don't get any ideas, I'm just wondering what's preventing somebody from claiming that they grossed $100,000 when they only got $15,000.
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100,000 gross and 15,000 profit is actually possible. So it could actually be both at the same time.
Well I meant they say they grossed $100,000 when they only grossed $15,000
Yea, I figured that was just saying that its a question that you can squeak out by saying that. Not that I support out right lying on your application like that.
If this came up at interview, you'd get grilled on the numbers and intricacies of the business. If they think you're talking shit, they'd ask for verification.
It would be tough to verify. But the reason they ask for income verification is usually so they can tailor your pay package accordingly, and if your only prior employment is self-employment they probably have a baseline pay package for you. You can claim that you made $100k a year as a private SAT tutor or something, but there's no point in that lie.
They can simply ask you to provide W2's or paystubs, ect.
ah... alright, I didn't know if places did that
No comment.
Please don't tell them that your business was selling weed out of your dorm....
Oh don't worry, my paranoia will not allow me to lie about something like this
I'm doing a lawn care business so it'll be pretty hard to fail seeing as how I already have all the equipment and all I need to buy is gas + spare parts + some marketing stuff (cheap)... so if anything I'll just be making a pathetic amount of money if things go badly
You made $200,000 and your looking to work in banking, before you bring your business expertise to the hedge fund industry.
not sure I understand what you're getting at...
Delete. Nevermind.
ah... see the tax records thing could be bad, but then you could always say that you made more when doing your taxes correct?
It's very easy to manipulate numbers in an all cash business. I'm just not sure if I wanna be the guy to tell you how to do it.
well I'm not looking for instructions lol
I've never been asked to provide taxes or any type of financial records, but potential employers have definitely asked what my annual sales & profits were, as well as average transaction amounts and number of clients... From there, you can tell they're doing a little mental math to make sure your sales numbers align with the number of clients and avg. prices of the goods/services you sold...
In my case, I sold the businesses so employers can look them up online/talk to the current owners to get an idea of where sales numbers were.
Congrats on the lawn care business! All the best.
Oh and numbers are easily fudgeable but if they ask for tax paperwork, that's equivalent to lying about your GPA and then having to provide transcripts.
Thanks for the congrats even though I haven't done much yet haha... but yeah, I mean I could probably lie on my tax paperwork and figure out what I would tell an interviewer regarding sales/clients/prices, but as long as I make more than I would with a normal job I'd be happy.
Always gonna push for more than that, but lawn care's an easy business to break into which = lots o competition
I still don't see why you feel the need to lie.....it will also affect any financial aid if you can't pay tuition in cash. How are you going to explain yourself if you get caught.....and how do you explain that you are to be trusted with OTM? What do you think you're going to gain?
Do I need to specify that I don't intend on doing this in every one of my posts in this thread?
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