Is IB Possible? Top MBA but possible legal issues
I'm a first year MBA student at a target school (Top 5) and wonder if full-time IB recruiting for Associate positions is possible (and advisable). Pre-MBA, I worked in finance (back office to front office) and have my CFA. So certainly, the quant skills are there. I grew up in NYC so IB seems like a great fit for me, not only professionally but personally as well. However, I will be doing a consulting internship this summer (not the Big 3) and did not recruit for IB *at all* last fall. Why would I all of a sudden be interested in IB when I was not before?
Two years ago, I was arrested for misdemeanor fraud. Long story short, I was a ticket scalper and was accused of selling fraudulent tickets. The case was eventually dismissed (false accusation) so I don't have a criminal record. However, I do have an arrest record for fraud and do have to disclose it if I were to recruit for IB. My thought process was - "Why would a bank hire someone with an arrest record for fraud when there are plenty of other qualified applicants without one?" That is why originally, I didn't recruit for IB during the fall.
Now, with a consulting internship (and possibly FT offer) under my belt, I may be "playing with house money" here and wonder if I should throw my hat in the IB ring this fall? Any advice would be appreciated. Thank you.
my advice is that you absolutely should not you could potentially lose everything if your arrest came back up as an issue again all you would get is maybe an extra 30-50k per year
not worth it
How could he "lose everything"?
I don't understand the downside. Worst case they don't extend you an offer. You do in fact have a clean criminal record insofar as you have never been convicted of a crime.
Your lack of a criminal record won't be a problem. Go ahead and apply.
You have a clean record. People get through with much worse. You're fine.
Correct me if I'm wrong OP, but it sounds like you went through some sort of pretrial diversion /deferred adjudication program. This often still needs to be disclosed, though I have no idea how it's treated.
No pretrial diversion / deferred adjudication program - charges were dropped and case was dismissed (never went to trial). You are correct in that (for FINRA/FDIC purposes) it needs to be disclosed.
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