Investment bank recruiters forgive minor misdeeds

Graduates with convictions for drunk driving or who have very high debts are sometimes offered a job.

Candidates must satisfy investment banking recruiters that they have integrity, despite a blemish on their record. &quotWe look pretty hard at anyone that doesn't have a clean bill of health,&quot says the head of graduate recruitment at a bulge bracket bank. &quotBut if an event was a one-off, we may be prepared to overlook it on a case by case basis.&quot

Having high debts can be acceptable, as long as they are under control. &quotWe credit check everyone that comes into the bank,&quot says another graduate recruiter. &quotIt's OK to have loans - but you cannot have unpaid county court judgements against you.&quot

Regulators are prepared to let minor felons through the net. A spokesperson for the UK's Financial Services Authority says: &quotNon-finance related criminal convictions would not be a bar to authorisation from our point of view. But the company must be happy that the candidate is someone of integrity.&quot

The most important thing is not to lie. Mike Whittington, managing director of the screening company Financial and Personnel Research, says applicants need to be open about past debts and misdeeds from the outset. He says county court judgements that have been resolved are not a problem. &quotIf you are honest about debt problems and you can provide evidence that you are servicing those debts, it should be OK.&quot

Complete honesty may not be necessary, however. Whittington says that a police caution that did not result in a conviction will not show up on most background checks.

But overall, applicants who have irregularities in their past are likely to be at a disadvantage to those who don't. &quotWe take the view that if you have difficulties managing your private life, you may well also have difficulties managing your public life,&quot says one recruiter.