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twofish
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Entry-level quant job prospects with "criminal" record

September 20th, 2008, 1:59 pm

QuoteOriginally posted by: foiasYes, potential employers of quants do care about a criminal record, for at least two reasons. One is that the regulators are going to ask about it if they register you. The other is that the most important thing they need most from quants, even above competence, is honesty.At the same time:1) there is a difference between not paying a train ticket and selling crystal meth2) Wall Street and New York City is the center of second, third, and fourth chances. There are people who have done far worse things that not pay a train ticket that are in the business, and the really imporant thing is not that you are a moral paragon of virtue than that you are honest about what you did and sorry about it.
 
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Paul
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Entry-level quant job prospects with "criminal" record

September 20th, 2008, 7:00 pm

I really wish they did lock up people who didn't pay for train tickets since both Blair and Mrs Blair have been caught at this. I think the latter got a ten pound fine. Both of those are professional liars (being barristers they lie on behalf of the highest bidder, Tony Blair later advanced on to lying to gain power), and so managed to use their oily skills to avoid the sort of consequences that their subjects have to put up with.P
 
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farmer
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Entry-level quant job prospects with "criminal" record

September 21st, 2008, 2:41 pm

QuoteOriginally posted by: iggy101My question is will a conviction for a relatively minor offence such as this have a large adverse impact on my job chances? Will I have the chance to explain myself or is any mark on your record enough for you to be rejected outright? Any advice would be much appreciated. I'm obviously quite stressed about this.It's not a general criminal record, but rather a money crime. If I found out about this, I wouldn't and couldn't hire you to work for a financial firm. If you ran someone over driving drunk, or imported cocaine, or kicked someone to death, it would look better. You are a cheater.
 
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Cuchulainn
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Entry-level quant job prospects with "criminal" record

September 21st, 2008, 6:16 pm

QuoteI think the latter got a ten pound fine. What about speeding on the highways? Any views on that? It's against the law as well.
Last edited by Cuchulainn on September 20th, 2008, 10:00 pm, edited 1 time in total.
 
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Paul
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Entry-level quant job prospects with "criminal" record

September 21st, 2008, 7:01 pm

The connection between right and wrong and the law is not as strong as it was, or should be. If I may make a misquotation: "Justice must be relative and seen to be relative." I understand that the middle class in the UK, once very strong supporters of the police, now see the police as part of the problem with Society: Politically correct, supporters of criminals instead of victims, cowardly, spying on the innocent, target chasing, and incompetent. If someone will hire a drunk driving, cocaine importing, murderer then they deserve everything they get. Maybe there are rules saying that financial firms can hire a murderer but not someone who forgot to buy a ticket, but as we have seen lately, and as any sensible thinking person already knew, rules these days are just so the cigar smokers at the top can shaft everyone under them.P
 
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farmer
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Entry-level quant job prospects with "criminal" record

September 21st, 2008, 9:45 pm

QuoteOriginally posted by: Paulsomeone who forgot to buy a ticketAre, you moonlighting as a barrister?
 
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iggy101
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September 21st, 2008, 11:04 pm

Not that I expect anyone on this forum to believe me but I didnt intend to travel without paying that day. Its a journey I make and pay for many times a week.Given at least the potential for this to happen to someone innocent and the seemingly arbitrary decision about whether to issue a fine or prosecute, I would hope that people would keep an open mind when seeing something like this on someone's record.
 
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farmer
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Entry-level quant job prospects with "criminal" record

September 21st, 2008, 11:22 pm

QuoteOriginally posted by: iggy101I didnt intend to travel without paying that dayYou didn't take paying very seriously. You didn't live in fear of the consequences of your own forgetfulness. When you are the only one monitoring - when no one else is watching - you have a special responsibility to make sure you don't forget.When there is no one else to catch your error, you have to take it more seriously, not less seriously.
 
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twofish
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Entry-level quant job prospects with "criminal" record

September 21st, 2008, 11:27 pm

QuoteOriginally posted by: iggy101I would hope that people would keep an open mind when seeing something like this on someone's record.One thing that should make you feel a little better is that people in financial services tend to be very good about compartmentalizing information. Firms will run background checks and credit searches, but the people who are interviewing you don't see any of that and they are doing to just be interested in your technical skills, and aren't going to even see personal information.The standard procedure is not to run the credit report or background check until after the firm is very close to a hiring decision, and the main purpose of the background check is to make sure that the resume is accurate.
 
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Gmike2000
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Entry-level quant job prospects with "criminal" record

September 21st, 2008, 11:40 pm

QuoteOriginally posted by: iggy101I'm currently facing a possible court appearance for fare evasion of a train ticket. It was all an unintentional, stupid mistake and I intend to defend myself. However I am aware that if found guilty for intentionally evading a train fare then I face having a criminal record.I'm coming to the end of a Physics PhD working on an economics model and was hoping to start looking for quant jobs soon (current turmoil in the financial markets notwithstanding!)My question is will a conviction for a relatively minor offence such as this have a large adverse impact on my job chances? Will I have the chance to explain myself or is any mark on your record enough for you to be rejected outright?Any advice would be much appreciated. I'm obviously quite stressed about this.Half of corporate america are greedy unethical crooks (enron, tyco, worldcom, etc etc etc). The percentage is probably higher in finance, so you will be in good company (dont take it personal).So if you got a criminal record for not paying your train ticket, you must actually live in the US. Such things can only happen in the US.I once got a ticket for "disorderly housing" (beer keg party, neighbors complained) and "indecent exposure" (i gave water behind a bush, cop saw it). As a European living in the US it made me wonder....but now I am no longer surprised by anything anymore. The US is the country where everything is possible! And it is the land of the free.....my ass.
 
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twofish
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Entry-level quant job prospects with "criminal" record

September 22nd, 2008, 3:41 am

QuoteOriginally posted by: Gmike2000Half of corporate america are greedy unethical crooks (enron, tyco, worldcom, etc etc etc). The percentage is probably higher in finance, so you will be in good company (dont take it personal).I don't think this is the case at all. About 95% of the people that I've met in corporate America or in finance are basically decent, ethical human beings. You just have to be careful not to put yourself in situations were to advance career-wise you have to be in the 5% that aren't.
 
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toquants
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Entry-level quant job prospects with "criminal" record

September 24th, 2008, 9:24 am

Hi:I have a related question. What about your FICO score? What if it's low? Do they check your credit, too? Do you need to have excellent credit to get hired as a quant? I'm wondering because quants work in the financial industry.Thanks.
 
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Cuchulainn
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Entry-level quant job prospects with "criminal" record

September 24th, 2008, 10:16 am

QuoteOriginally posted by: twofishQuoteOriginally posted by: Gmike2000Half of corporate america are greedy unethical crooks (enron, tyco, worldcom, etc etc etc). The percentage is probably higher in finance, so you will be in good company (dont take it personal).I don't think this is the case at all. About 95% of the people that I've met in corporate America or in finance are basically decent, ethical human beings. You just have to be careful not to put yourself in situations were to advance career-wise you have to be in the 5% that aren't.So, a gaussian distribution?
 
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Cuchulainn
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Entry-level quant job prospects with "criminal" record

September 24th, 2008, 10:21 am

In the Netherlands you (also as an individual) can take out insurance for a few hundred a year and be represented by lawyers. This is good for a number of reasons, not the least of which being that heavy-handed, bully-boy tactics and threats tend to have less impact than what they otherwise might have. And this is reassuring for someone with a small stipendium and lack of experience in these matters. The severity of the initial letter is usually inversely proportional to the final judgement. And judges decide that.
Last edited by Cuchulainn on September 23rd, 2008, 10:00 pm, edited 1 time in total.
 
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twofish
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Entry-level quant job prospects with "criminal" record

September 24th, 2008, 1:56 pm

QuoteOriginally posted by: toquantsI have a related question. What about your FICO score? What if it's low? Do they check your credit, too? Do you need to have excellent credit to get hired as a quant? I'm wondering because quants work in the financial industry.They do check credit reports, but it doesn't affect the job application unless there is something, really really bad. If you are on the verge of bankruptcy, and appear to be making odd payments to unnamed accounts in Colombia, may be a factor, but for most people it doesn't matter. Also the people interviewing don't get to see personal information. These reports are run by HR, and usually the manager is told only if there appears to be a major problem.
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