There is a rumour that every investment bank has an oracle database shared across industry. This database consists of blacklisted employees. Is it true?

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I wouldn't credit that rumor. People gossip and talk and word gets around, but putting a blacklist in writing would be incredibly reckless. It would leak and people on the list would sue over it and so on. Potential employers will, of course, do background checks and check with FINRA or wherever else. But a secret database of the blacklisted seems fanciful.

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Agree, also if you just think at a higher level if VPs or MDs are concentrating on a tracker of analysts and associates they worked with five years ago instead of the upcoming pitch in a week, they are the epitome of the definition of petty, bitter, and vengeful as well as grown children

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I can confirm that this does not exist. But everyone essentially knows everyone and if you burn a bridge it can haunt you since we informal reference check (eg call people we know who have worked with you) all the time and I've personally canceled an offer that was about to be extended based on these calls

Edit: it was because of sketchy frequent and unwanted advances on their coworkers at social events. Nothing petty - but didn't want to potentially employ a predator

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This is 100% true. Informal reference checks are pretty standard and probably gave way to this rumor in the first place

It’s not in Oracle

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Thank you for the reply! What exactly do you mean? Not Oracle?

I have heard there is a blacklist of recruiters and employees. But not sure if its true or false.

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I would highly doubt that. Not true.

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