Recruiting in a Down Market, Part 5: How to Avoid Desperation and Shooting Yourself in the Foot, and How to Deliver a Convincing Recruiting Performance
As part of our “Recruiting in a Down Market” presentations, Kevin and I fielded questions on recruiting topics, including how to network without looking desperate or shooting yourself in the foot, and how to properly make cold-calls, send cold-emails, and set up informational interviews – among other recruiting worries in a downturn.
We can’t replicate that online 100% (unless we implement that live chat room one day) but we can go over the more relevant questions that everyone is wondering about.
How to Avoid Turning Into a “Desperate Networker”
Recruiting in a Down Market, Part 4: How to Weigh Your “Plan B” Options and Ensure That You Don’t End Up with “Plan Z” Instead
Sure, it’s great if you can defy all odds and get into finance in the midst of a recession.
But let’s be honest: there’s always a chance that things may not work out, simply due to probability, bad luck, and the general lack of hiring.
So, if you don’t get into investment banking, private equity, hedge funds, or whatever else you’re after, what are your best alternatives?
In other words, how do you decide which “Plan B” option is best and which one you can actually leverage to move onto something better?
Rather than giving generic advice, we’ll go through a couple common “Plan B” options and look at the advantages, drawbacks, and key considerations for each one.
The Problem with “Plan B” Planning
In the last article in this series, we looked at 4 ways you can move from “check the box” recruiting to actual recruiting: casting a wide net, considering other geographies, thinking outside banking / consulting, and networking.
The first 3 are straightforward, but “networking” often gives prospective financiers more trouble than a shuriken to the back.
We said it’s a simple process: develop a set of contacts, begin emailing, calling, and meeting them, develop the relationship, stay in touch, and ask about opportunities when appropriate.
But that’s very high-level, so now let’s get into specifics with 5 strategies you can use to go from networking newbie to networking ninja.