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Employment Verification for a defunct operation?

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New answer on Aug 30, 2022
5 Answers
509 Views
Anonymous A asked on Aug 21, 2022

Hi!

I am applying to MBB and in my CV I plan to put down an informal cash-only one-person business that I ran for 9 months (think tutoring-type of business). This business didn't generate enough revenue for it to be taxed. As hence, the business is basically a ghost now. How would employment verification work in this case? Will an offer not be made/rescinded because I simply will not be able to prove that I ran this?

I still think I have a chance at MBB because I have gotten a first class honours from Imperial in Mathematics and have military experience with the special forces and stuff. 

(edited)

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Cristian
Expert
Content Creator
replied on Aug 22, 2022
#1 rated MBB & McKinsey Coach

Hi there, 

I wouldn't worry about it. Just explain them the situation if they ask about it, but I doubt they will. 

Best,

Cristian

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Emily
Expert
Content Creator
replied on Aug 21, 2022
Ex McKinsey EM & interviewer (5 yrs) USA & UK| Coached / interviewed 300 +|Free 15 min intro| Stanford MBA|Non-trad

I agree with Ian - if it's a registered company then you can list it (I can't comment on the tax side but I assume that you should at least have filled in a return, even if it ultimately wasn't subject to tax if the profits were too small). If not then I'd list it in interests. 

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Pedro
Expert
replied on Aug 30, 2022
30% off in April 2024 | Bain | EY-Parthenon | Roland Berger | Market Sizing | DARDEN MBA

If this was a registered company, you should state it. Otherwise, put it as a hobby / personal venture. 

In general, you won't have problems by stating the truth.

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Sofia
Expert
replied on Aug 21, 2022
Top-Ranked Coach on PrepLounge for 3 years| McKinsey San Francisco | Harvard graduate | 6+ years of coaching

Hello,

I would probably list something like this as a side-hustle / self-employment, and make it very clear what the nature of the operations were. I.e. you did tutoring, but more in your own capacity rather than for some large corporate entity.

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Ian
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Content Creator
replied on Aug 21, 2022
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate

Hi there,

From a legal perspective I am a bit concerned…no business is tax-exempt (at least from my understanding of US tax law). Double check this one.

I think you can include it, but be careful how you list it. You can't claim that it's a company if you're just tutoring people, mowing lawns etc. Unless you have a real website and a registered business, make sure to list it more as a hobby/side job.

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