A recent survey by Powerchex, a leading pre-employment screening service for the financial services industry, has revealed that an alarming percentage of CVs may not be all that they seem.

The survey identified trends in the attempts of candidates for jobs in the financial sector to deceive potential employers by lying or embellishing the truth on their CVs or on job application forms. 4,735 applicants were surveyed over the period between June 2008 and May 2009.

The main findings were as follows:

  • Almost one in five (19%) of all CVs contained a discrepancy. This was the highest level found in three years.
  • The number of candidates who did not disclose bankruptcies or CCJs on their CV rose by 50% compared to last year.
  • Women are more likely to lie on their CV than men are.
  • State-educated applicants are 25% more likely to lie on their CV than those educated in the private sector.
  • Perhaps unsurprisingly, candidates who attended more prestigious universities were less likely to have lied on their CV. Fewer than 10% of Oxbridge-educated applicants had discrepancies in their CVs, while almost a quarter of applicants from universities beyond the top 100 had a discrepancy.
  • The most common discrepancies related to employment duties, directorships, academic record and qualifications.

While one may speculate that the current poor economic climate and depressed job market could be responsible for an increase applicants being more "creative" when drafting their CV, it is important to remember that making false claims or deliberately exaggerating elements of your employment history can have potentially serious consequences, as detailed in a previous blog post.

The survey also provides clear evidence that employers should not take an applicant's CV at face value. In order to prevent potential problems in the future, some form of screening or fact-checking should be applied.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.