Inflating / Lying on Your CV - What Actually Happens?
To preface: I have not and am not considering doing so... but I am intrigued to know what would happen if you were caught lying in the background screening stage about, for example, achieving a 1st vs 2:1? President of a society vs member? Do the screening company notice any discrepancies and then report such findings to HR, who then have to make the ultimate judgment call?
Answer seems somewhat self-explanatory, but would be intrigued to know if anyone has any stories on the contrary. Not without the realm of reason to imagine a bank (or rather, HR) turning a blind eye after numerous rounds of interviews, tests, ACs and whatnot when a candidate is highly desirable / has connections etc.
Based on the most helpful WSO content, lying on your resume can have serious consequences, especially during the background check stage. Here's what typically happens if discrepancies are found:
Background Check Process: When you're in the running for a position, especially in finance, a thorough background check is usually conducted. This can include verifying your educational credentials, past employment history, and any claims you've made on your CV.
Discrepancy Detection: If the screening company notices any discrepancies, such as a difference in the degree classification or a position held in a society, they will report these findings to the HR department of the firm you're applying to.
HR's Judgment Call: HR will then have to make a decision based on the findings. If the lie is considered significant, it could lead to the withdrawal of the job offer. In finance, integrity is highly valued, and any questions about honesty can be a deal-breaker.
Potential for Leniency: While it's not out of the realm of possibility for a bank to overlook minor discrepancies if a candidate is highly desirable or well-connected, this is risky and not something to count on. The industry is small and reputation is key, so being caught in a lie can have long-term career implications.
Real-World Outcomes: There are stories on WSO and other forums where candidates have been caught lying about their qualifications or experience, and it almost invariably ends poorly for the candidate. Offers can be rescinded, and in some cases, the candidate's reputation can be damaged within the industry.
In conclusion, the advice from WSO threads is clear: honesty is the best policy. The risk of being caught in a lie is not worth the potential short-term gain, as the finance industry places a high premium on trust and integrity.
Sources: Everything You Need To Know About Background Checks and Lying on your Resume, Everything You Need To Know About Background Checks and Lying on your Resume, https://www.wallstreetoasis.com/forum/job-search/suing-a-former-employer?customgpt=1, What I Learned From Lying On My Resume
The best thing to do is to not lie/exaggerate.
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