Too Poor for a High Paying Job

I wrote about how poor people are punished regarding rent vs mortgage. A couple weeks later, I got an even better example -

Dear Raymond,  

Unfortunately, due in part to information received from the consumer report previously provided to you, the decision has been made that we cannot give you further consideration for assignment to [unnamed big bank].

Sincerely,
[unnamed big bank]

How did we get here?

A recruiter reached out to me on LinkedIn for a Director of Engineering role at [unnamed big bank]. She explained how my resume fits the role because they need someone with upper management experience, who still codes, and wants to 🙋‍♂️. She also liked that I worked at startups because I'd be leading a newish team without many senior developers. Their tech stack matches my expertise ✅, the salary is good ✅, I’m picky but on the market ✅. Let’s talk!

The phone screen included LeetCode questions over the phone, that’s weird. I still got all but one right 💯. On to the interviews - 4 rounds, 2 technical - all A+. I liked them and they really liked me. So much so, they gave me a verbal offer two hours after my last interview 🤑.

As luck would have it, I got another job offer the day before. That helps salary negotiations but I didn’t go as hardline as usual because the job market is terrible. I had to choose between a startup (working remotely) or [unnamed big bank] (going to the office 3 days a week). Both paid about the same. I’m tired of startups so I went with the major corporation 🏦.

Formalities

After I signed the offer letter, I had to take a drug test (they still have those?), get my fingerprints scanned, and take the standard security training. They wanted me to start in one week, if I was willing.

They ran my background check, called my current and previous employers. Everything got approved. Great.

Them: “We just need one more thing.”

Me: “What’s that?”

Them: “Your W-2s from 2019 and 2014.”

(I’ll paraphrase the rest but know that I was very polite and professional.)

What? Why would I let my new job know how much I made at my old job? That would put me at a disadvantage for salary negotiations. I’m not telling you how much money I made, just like you’re not telling me my co-worker's salaries. Secrecy is a two-way street.

They said I could redact numbers, it’s just a formality. 🙄

Cool, here’s 2019’s W-2. I don’t have 2014. I don’t know if you noticed but 2014 was 10 YEARS AGO! Iggy Azalea was more famous than Donald Trump and Pharrell was singing Happy. Remember when we were happy?

Absurdities

Here is when things started to go crazy. Because I don’t have my 2014 W-2, they asked me to get it from the IRS. Again, what!?

The IRS doesn’t have my W-2s, they have my tax returns. I don’t want to give you my tax returns. You already asked how much I made from employment, now you’re trying to see how much I made from my businesses and investments? How much I deducted? How much I paid in taxes? 10 years ago? For a job?

I told the recruiter I don’t feel comfortable giving all this information. I asked her to tell the background check guy to chill out or maybe she could get her boss to do it. She assured me everything is fine, we just need this one part so I can start Monday.

Me: Fine. Here’s the fucking 2014 tax return.

Them: Um, we need 2019 too.

Me: I already gave you my 2019 W-2.

Them: We need the tax return too.

Me: Fine. Here. You asshole.

Ok, all is well.

Surrealism

All was not well. The background check guy asked why the company name wasn’t on my tax return. I had to explain to him that’s not how it works, employer names are never on personal tax returns.

He didn’t believe me. He thought I gave him the wrong documents.

I literally took a video of me on irs.gov clicking my tax returns, downloading the pdf, attaching it to my email reply to him (very insecure btw 🚩).

Still not good enough.

I told the recruiter - I don’t know what else you want from me. This has gone too far. Am I hired or not?

She said - of course you are, it’s no problem.

Magically, my employment was approved. Ready to go! 🏁

One More Thing ...

Steve Jobs used to make Apple fans go wild by saying, "One more thing ..." after presenting new products. Well instead of pulling a MacBook Air out of a manila envelope, they asked me for more paperwork.

We just need your proof of education. Cool, here is my high school diploma.

What about Hampton University? Look at the application you had me fill out, my highest education is high school, you have my diploma.

You should be able to get your college transcripts from Hampton. I’m sorry, I don’t think you understand. I didn’t graduate from college, my education is high school. I’m not getting transcripts from a college I didn’t graduate from.

My background check was complete ... again. Start at 9:00am Monday.

You’re Joking Right?

After I got the job, signed the offer letter, passed the drug, criminal, employment, education, and financial background check, AND got my start date ... then I got this email -

Please respond to this email by 11/05/2024 with a letter of explanation that includes the following details:

The current status of each highlighted item on the attached report. Reason why each item(s) originally fell behind. What your intentions are to remedy the balance(s)? Any previously made payment plans set up or in progress? Please identify which accounts are on a plan, the date each arrangement began and provide proof of most recent payment.

Please be prepared to provide documentation to support any circumstances you claim. If you experienced extenuating circumstances that led the items to fall behind, be as detailed as possible, including what happened and time frames when the event was occurring.

They ran my credit, found some credit cards I’m behind on, highlighted them, and told me to explain.

How embarrassing.

Why are you poor Ray?

I replied with this -

The reason these accounts fell behind is I lost my job at [previous company] and have not generated enough income to pay all my bills since. I will pay my outstanding balances with my income going forward.

The tech industry has experienced mass layoffs over the last year plus. My situation is not uncommon. However, my credit was perfect before and will be good again soon.

Thank you for allowing me to explain.

Raymond Traylor

What I didn’t tell them is I got laid off a month after I closed on my first house, my mom got breast cancer the month after that, my dad fell and hit his head badly around the same time. Flights back and forth across the country are expensive, taking care of elderly parents is expensive, and it’s none of your goddamn business. As a matter of fact, my dad is in the hospital right now with a broken hip after suffering a massive heart attack.

I take care of my family and my work doesn’t suffer, my credit score did, temporarily.

Bureaucracy

My explanation that people need a job to pay bills, and with this job I can pay bills, didn’t work.

Request 1 -

Thank you so much for your explanation. Additional information will be needed to know if/what documents are needed to support your explanation. Please answer all of the following questions (as applicable):

In what year did you become unemployed? (Need specifically month and year)

What was your annual income the year before your income loss, the year the loss occurred and each consecutive year thereafter and year-to-date?

Was the job loss voluntary or due to a lay off/termination?

If laid off: did you receive a severance? If so, for how long? Did you apply for or receive unemployment after the severance ended? How long have you been collecting? When does it run out?

If terminated: did you apply for unemployment? If denied, why? If approved, are you collecting unemployment? How long have you been collecting? When does it run out?

If voluntary, why? Did you apply for unemployment? If denied, why? If approved, are you collecting unemployment? How long have you been collecting? When does it run out?

Do you have any additional income? For example, business.

Request 2 -

Thank you so much for answering the questions asked of you. I would like additional clarification if I have an understanding of your income. Please correct me if I am wrong.

Year 2022 salary: $[redacted]

Year 2023 salary: $[redacted]

Year 2024: Kindly advise how much income you have received year to date.

Request 3 -

Thank you for providing clarification on your income. Kindly requesting you to provide the following documents (as applicable) to support your mitigating circumstance:

Your tax returns from year 2022 and 2023. You may obtain a copy of these statements at https://www.irs.gov/individuals/get-transcript. If you have not filed, please provide an explanation as to why.

Pay stubs for YTD only (from all employers including spouses if joint returns were filed)

Proof of layoff such as severance letter

Request 4 -

Thank you so much for submitting the documents you have so far. I received you 2023 W-2 from [previous company], however, I am missing your year 2023 Tax Return. Did you file your 2023 Tax Return?

Request 5 -

Thank you for providing your 2023 Tax Return. Regarding the work you did this year with start-up companies: What were the companies names? Did you try to contact the companies to obtain access to payment system. Proof will be required to support the income you reported being received year-to-date (2024).

We went back and forth 12 times over 10 days until I got the email at the top of this article telling me I didn’t get the job.

No human to contact, no explanation, no appeal, no empathy, no compensation for wasting my time, no idea what they are doing with all of my financial data. Is it secure? Will it be deleted? Will they use it against me as a consumer? Will they sell it to other banks, insurance companies, Facebook?

In 22 states, and every civilized country, it is illegal for your employer to ask about your personal finances. Maybe it’s ok because they are a bank. I wouldn’t be surprised if all big corporations start doing this pretty soon.

Conclusion

I’m big on taking accountability for my actions and not making excuses. No one told me to buy an expensive house or work for risky startups or get into credit card debt.

The promise of America is if you are smart and work hard, even if you make mistakes or fail, you’ll be punished, but you will get opportunities.

This seems to be eroding.

When getting back on your feet requires you to already be on your feet, that is the same as saying only the rich can get rich. We are going from income inequality to income impossibility.