Is it legal in the USA to make it a hiring requirement for the applicant to hold investments?
Posted by admin on 28 Jun 2008 4:16 pm. Filed under Law & Ethics.
Janet S asked:
I applied for a job as a copy editor with an investment firm. I am highly qualified. I was tested, then interviewed by a comittee of five. After an hour of interviewing, I was told that I was no longer under consideration because I did not meet the requirement (NOT stated in the ad) of owning investments myself. Through no fault of mine, I have not been paid a living wage in seven years. The requirement that I hold investments – to edit copy – seems absurd and of doubtful legality. It discriminates against those trying to make a comeback, and those from the lower middle class who are “afraid” of investments and who need exposure to them in order to understand them.
I applied for a job as a copy editor with an investment firm. I am highly qualified. I was tested, then interviewed by a comittee of five. After an hour of interviewing, I was told that I was no longer under consideration because I did not meet the requirement (NOT stated in the ad) of owning investments myself. Through no fault of mine, I have not been paid a living wage in seven years. The requirement that I hold investments – to edit copy – seems absurd and of doubtful legality. It discriminates against those trying to make a comeback, and those from the lower middle class who are “afraid” of investments and who need exposure to them in order to understand them.
On July 1st, 2008 at 12:20 am
It’s legal for them to use that excuse. There could be a number of reasons you weren’t hired, they may have had someones relative or best friend also up for the position. I know interviewing sucks, but this company wasn’t the right one for you. Better luck next time.
On July 4th, 2008 at 7:47 am
“Through no fault of mine, I have not been paid a living wage in seven years”
First, there is no such thing as a “living wage”. Second, that company has no reason to help those trying to make a comeback, nor helping those who are afraid of investments. They want someone who fits in their business and understands it well. Third, through no fault of your own? What?
On July 5th, 2008 at 3:44 am
Yes, certain corperations require you to hold a certain amount of stock in order to keep atleast 51% of the company vote in the hands of the employees.
On July 5th, 2008 at 4:29 am
It is absolutely legal.
On July 8th, 2008 at 3:37 am
Whoever told you that was stupid. They do have the right but he should have just said we decided to go in a nother direction and hire someone else.