Don't be a Sucker: Spot a Scam

When you’re looking for a job in finance it’s easy to get excited about every opportunity that comes your way especially if your search has extended past your initial expectations. Don’t let fatigue fool you into being so naïve as to think everyone out there has your best intentions in mind when extending an offer. Pyramid and Ponzi schemes are built on the backs of those who are too trusting. People pull some pretty shady stunts so don’t get sucked into any of them.

When I was young and entering the work force I fell for an ad that promised all I hoped for in a job and more. I thought I was helping young sailors invest in their future but apparently when it was all said and done we were pulling people fresh off the boat into an office and asking them to sign for an allotment that would never really be delivered.

It broke my heart because it sounded like something I could really get behind and would help people out in the long run. Fortunately however in the short time I was there I never closed a sale so I don’t feel like I directly ripped anyone off but I definitely became more skeptical of anyone I was willing to work with after that.

Here are some things that now send up red flags when I am presented with more than picture perfect opportunities:

1. You can’t purchase the product.



2. Any obstacle you have they can work around until after you’ve signed up.



3. They have a big presentation that offers little concrete information.



4. Potential clients were previously warned to watch out for company representatives.



5. You are expected to operate by cold calling outdated lists or approaching strangers in public places.



6. None of your coworkers have been at the company long enough to see an transaction completed.



7. The ad for the position uses ALL CAPS or terms like “rock and roll atmosphere.”



8. You need to invest a large sum of money to be included in the opportunity.

Use your best judgment and go with your gut. If you have a sneaking suspicion that something is amiss, it probably is. To be on the safe side, cross reference your potential employer with the Better Business Bureau’s database and see what comes up.

Are you looking for a job in Finance? Be sure to visit FinancialJobBank.com

By Heather Fairchild - Heather is a multimedia developer with experience in web, film, photography and animation as well as traditional fine arts like painting and sculpting. In addition to writing for FinancialJobBankBlog.com, she is co-founder of design and promotion company, Creative Kazoo with fellow Nexxt blogger, Staci Dennis. Heather’s spare time consists of making puppets, teaching Sunday School, building Legos and doing science experiments with her children.