How to Use Investment Banking Informational Interviews to Break In
I’ve referenced informational interviews many times, but have never given a step-by-step tutorial – or even said what exactly an informational interview is.
So let’s change that.
There’s more detail within Breaking Into Wall Street, but I wanted to put this guide out there to answer the most common questions on informational interviews – and show you how to use them to break into investment banking.
Why Informational Interviews?
A banker is looking through a stack of 200 resumes.
It’s 3 AM and he’s also working on a last-minute pitch book for his crazy MD who only sleeps 2 hours a night.
At 3:23 AM his eyes begin to close and everyone’s resume starts looking the same…
PWM internship, 3.7 GPA from target school… F500 internship, 3.5 GPA from non-target school…
As he’s dozing off, he comes across your resume.
He sees your name written at the top and remembers meeting you at an information session a few months ago, then meeting up with you 2 weeks ago and how you got into a discussion about the World Cup.
Rather than reading the rest of your resume and analyzing your experience, he says, “You’re cool” and puts you in the “interview” pile.
That’s why you do informational interviews.
Predictably Irrational?
In case you think the story above is an anomaly, think again: the interview selection process is not rational at all.
The good news, though, is that it’s predictably irrational – or at least easier to predict than the stock market or the next trending topic on Twitter.
And unlike other events, with informational interviews you can easily tip the scales in your favor with a small amount of effort.
If you know people at the office you’re applying to, you stand a 10x better chance of getting interviews there.
Do Informational Interviews Really Work?
I’ve seen a couple common objections, so let’s address them head-on:
- Objection #1: Even if I meet someone, how do I know that he’ll actually see my resume and select me for an interview?
- Objection #2: Won’t the bankers I approach think I’m using them?
- Objection #3: Does this work at all levels? What if I’m applying for Associate positions?
- Objection #4: I’m outside the US – I heard networking doesn’t work as well in other countries.
For objection #1, I’ll admit it: there are no guarantees that the same exact bankers you meet will review your resume and make an interview / no interview decision.
To get an idea of specific numbers and what it will take to get noticed, check out this interview with an engineer who broke into investment banking via informational interviews.
Also note that even if your contact doesn’t pick you for an interview directly, he can tell other bankers about you, get you referrals, and help in other ways.
On objection #2, yes, bankers will think that you’re contacting them to win interviews at their firm…
…and there’s nothing wrong with that.
Bankers don’t do this for love – they won’t care that you’re “using” them if hiring you means less work for them.
On objection #3, informational interviews work at both the Analyst and Associate levels – you almost have to do them at the Associate level because your competition certainly will be.
Outside the US
This objection has more truth to it than the others – networking into finance and going around the formal processes is not as common in regions like the UK and Australia.
Banks there are more focused on traditional recruiting – interviews, online tests, assessment centers and case studies, and so on.
But it’s not that networking “doesn’t work” – it just doesn’t work as well.
You may not want to spend as much time on networking in other countries, but you still need to do more than earn high grades and hope that’s enough to get you in.
The ROI
The bottom-line is that there are no guarantees that any strategy will “work,” but it’s hard to beat the ROI of informational interviews:
- Informational Interviews: 10-20 hours of work might result in multiple interviews.
- CFA: 500 hours of study will result in… an additional bullet point on your resume.
- Cold-calling: 10-20 hours of calling boutiques… may result in nothing or maybe a few potential leads.
So think like a banker and invest in the area with the highest ROI.
What is an Informational Interview?
Wow, we made it all the way here without even defining what an informational interview is.
First, you find the contact information of a banker from your alumni database, from a referral, from student or professional groups, and so on.
Next, you email the person, introduce yourself, say where you found them, and ask if they can chat for 10-15 minutes on the phone or in-person.
If they don’t get back to you, try a few more times.
Then, go in and ask the questions you have about them, make a good impression, stay in touch afterward, and then ask for explicit help with recruiting when the time comes.
When to Set Them Up
You should begin 3-6 months in advance of recruiting – that gives you time to get to know them without feeling pressured to follow-up 24/7.
So if you’re a summer intern preparing for full-time recruiting, start just before your internship or as your internship is beginning.
You can start earlier, but setting up interviews too far in advance – say, 2 years before you recruit – is not a good idea because:
- It’s harder to stay in touch over that length of time and people may forget who you are.
- Finance has extremely high turnover and hardly anyone sticks around for 2 years in the same group at the same bank.
At the MBA-level, you should start before you even arrive at school – just conduct your interviews over the phone in your spare time if necessary.
Your competition is also thinking about networking, so starting even further in advance may be helpful – alumni at top schools get contacted by lots of students.
How to Set Up Informational Interviews
So you’ve found contact information for 5 alumni and you have 4 months until recruiting begins. What now?
Send a 5-sentence email to your contacts that proposes specific dates and times to speak:
- Sentence 1: Who you are
- Sentence 2: How you found them
- Sentence 3: What you want to ask them about
- Sentence 4: Propose 3-4 dates and times (and places if you want to meet in-person) to speak with them
- Sentence 5: Thank them for their help in advance
Do not attach your resume / CV, as that annoys bankers by creating extra work.
Resist the urge to write your life story – normal people don’t even have time for that, and bankers certainly don’t.
Think, “Can he/she read this on a Blackberry without scrolling?”
Phone vs. In-Person
Should you go for informational interviews on the phone? Or in-person?
In-person is the way to go if you’re local or you can make a weekend trip to consolidate your visits; the phone is better if you’re new and want to “warm up.”
Overall, in-person is more effective for all the reasons that meeting your friends in-person is more fun than calling them: the subtleties and non-verbal communication that you don’t get on the phone.
Plus, in-person meetings sometimes lead to in-person tours of the office and meeting even more bankers there.
Questions to Ask and Questions Not to Ask
So now you’re set to speak with a banker at JP Morgan next Tuesday at 2 PM – what questions do you ask?
First, do a few minutes of research on him beforehand (Google and LinkedIn are fine, Capital IQ / Bloomberg are better if you have access) and figure out where he went to school and where he worked (geography / company / group) before.
Once you’ve done that, you can plan out the questions you want to ask.
Personal questions work the best – though if you’re networking with traders, you should make your discussion more markets-focused.
Good Questions:
- Can you tell me about how you got started at [Bank Name]?
- I noticed that you studied abroad in [Place Name] according to our alumni database – what was that like?
- I saw that you worked in [Industry 1] before switching to [Industry 2] – can you tell me how you did that?
- I noticed that your group was involved with [Announced Deal Name] – did you work on that?
People, and especially bankers, love to talk about themselves, so the questions above are much better than the “What does an investment banker do?” / “How do you break in?” variety.
Bad questions consist of anything that you can find out in 5 seconds elsewhere or “questions” that are really attempts to brag about yourself.
Bad Questions:
- What’s it like being an investment banker?
- How many hours per week do you work?
- Where can I read more about the industry?
- By the way, I have a 4.0 GPA in my Finance classes – do you think I should mention that on my resume?
Your new banker friend could also test you by asking technical or fit questions in the beginning, just like in a normal interview – so be prepared with your story and accounting/finance knowledge.
As your 10 – 15 minutes are drawing to a close and you’ve asked your questions, make a mini-request.
People are just like dogs: we need to be trained.
If you don’t ask for something small – a suggestion to meet on a weekend trip in the future, a referral, or even if it’s OK to send follow-up questions – the banker will assume you just want to be “friends.”
As with dating, you need to avoid the “friend zone” from the very beginning.
NOTE: Please do not do this if you email me – I’m already inundated with emails and requests, and sorry, but I do not make introductions.
Banker Having a Bad Hair Day?
Don’t expect that everyone will respond favorably – they won’t.
The banker might be having a bad hair day, might have just lost a client, might have broken up with his significant other, or might be suffering from dozens of other calamities.
You can’t take it personally because this has nothing to do with you 99% of the time.
Put the ones who don’t want to speak with you lower on your priority list and focus on the ones who seem more helpful.
What to Do After the Interview
The biggest mistake you can make: following up repeatedly for no reason.
Sure, it’s good to stay on bankers’ radar every 2-3 months if you’re networking far in advance, but don’t go crazy sending 2 articles every every day because that will annoy them.
You should follow-up with specific questions, requests for referrals, or to ask for help getting an interview.
Some networking “experts” advise you to constantly ping everyone you know, but that is a mistake because:
- Bankers are 10x busier than the average person.
- You’re on a short time frame – months rather than years.
And yes, when it’s recruiting season you really can just say:
“With recruiting approaching, I wanted to see how I could best position myself for an interview at your firm.”
What Now?
First, go to your alumni database, or ask your friends, family, or organizations you’re in for bankers’ contact information.
Email 5 of them to set up informational interviews, use the guidelines above, get referrals from those 5 to expand your list, and keep doing that until you’ve met a few dozen bankers.
Then when recruiting begins, ask for their help directly and persist if you don’t hear back.
When you’re done, post a comment below telling us how many interviews and offers you’ve won via networking.
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Thanks for the response. I was wondering how long in advance I could schedule the informational interview. Could it be 3-4 weeks in advance? Also, if my knowledge of finance is limited because no finance courses are offered at my school and I only recently developed interest in banking, how should I go about preparing for the technical aspects of the interview? Should I give up on the contact if I fail to answer his technical questions?
You could do that but I would keep it to 1-2 weeks at the most. To prepare for finance, check out some of the books or other resources recommended here. I wouldn’t give up necessarily but focus on others if the interview doesn’t go well.
I just did my first informational interview today, and I was wondering if I should follow up as soon as possible saying it was nice to speak with him, or if I should wait 2-3 months with specific questions.
Thanks for all the help so far.
I would wait a few weeks.
Why don’t investment bankers every say “No”. It is really aggravating when you have a string of great conversation, and then suddenly they just disappear and expect you to take a hint. Should I keep bugging them? When do I take the hint and give up (in terms of finding out if I got rejected/finding out if I got an interview)
Why don’t girls/guys ever say no? It’s human nature to hesitate. If you call 3-4 times and get no response, move on.
Hey there
At an information session recently, I met a guy who recently completed a BB internship (he spoke at the presentation about his internship). He is completing one more year of uni (same uni as me) before starting work next year.
Where do I go from here?
Cheers
See the suggestions here: http://www.mergersandinquisitions.com/investment-banking-informational-interviews/
Setting up an informational interview with a current student?
It’s fine but not the most effective strategy.
Hi Brian,
Say I have an informational with someone from FIG(he was the only contact I could make at the bank). But I am actually interested in TMT, so at the end of the informational would it be ok if I ask him to introduce me to someone from TMT? Or should I just pretend I am interested in FIG?
Just say you’re interested in meeting anyone else he knows in FIG or TMT who’d be willing to speak with you – say those are the 2 areas you’re most interested in so it doesn’t seem like you’re uninterested in him
I met that person from FIG. I did a lot of research on FIGs and talked to him about it. Infact we hit it off so well he mentioned that “if you need any help during recruiting just let me know”. So I guess I am gonna stick to FIG now.
BTW you are so right about talking to bankers about non banking topics as well. Talking to him about European soccer clubs really helped!
Great site!
Cool glad to hear it
If I try to set something up with a few bankers and only get one response, how long should I wait to follow up with the others? I don’t think they’re purposely ignoring me because I had something measurable in common with all of them (alum, same background, etc.), and if I remind them enough I feel like they will get back to me for at least a phone call, but how long should I wait to try to follow up? I sent out the originals 3 days ago. Thanks!
Wait a week.
I had interned at a BB last summer but wasnt given an offer. I had interview with all of capital markets ECM,DCM, and High yield/Leverage. I worked in ECM (they had us set up an 123 choice). Is it strange to network with another group you interviewed with but didnt work in? My choice was made because my initial referral to the bank told me to.
No I think it’s fairly common
I noticed that many of the good questions are personal and banker specific. Aside from asking about a particular deal, what are some things we should try to find out about the business of a particular bank?
I have an informational interview next week. How would you prepare for an informational interview/make the most out it?
Many thanks for the great article and your advice in advance.
I don’t really have much to add over what’s already mentioned above – read the bank’s website, look for recent deals, etc., do research on the person via searches online, Bloomberg, and so on
Hi,
Who shall I reach out to do infomational inverviews? Shall I talk to MDs and Directors or VP and associates? Thanks!
Any of those are fine but try to focus on senior bankers if possible
I’m in Houston doing an Oil & Gas internship and looking at investment banking very seriously.
You mentioned getting started 2-3 prior. Any advice on how to quickly catch up when starting late? Is the recruiting season at the end of August or do they decide by September?
Regards,
Josh
Some banks do start recruiting in August so you’d have to act quickly. Just set up phone calls now and maybe do a weekend trip and just be more direct about what you ask for.
How do bankers affect the recruiting process in terms of position location and banker location? Could a banker in NY get me an interview for a job in Chi?
Should I concentrate my networking efforts on the city that I want to work in?
I would like to work in Chicago FT, but my internship is in New York. aka I can’t have any face to face informational interviews with Chi bankers, only calls. I can, (and have) had face to face informational interviews with bankers in NY.
What should I do?
Also, I see that my school has some alumni that are HR VPs at various banks… worth trying to network with them or no?
Thanks for the help
Potentially yes but they have more influence locally. HR VPs generally useless. Try to make a weekend trip to Chicago after speaking on the phone with bankers, maybe right after the internship ends.
Hey great post as always!
I am currently interning a BB for an IBD internship but do not like my group/my firm. I think I have a fairly good chance of getting a returning offer, so I think I should start networking with other banks right now so that I can get interview/other offers before my return offer explodes. How can I get accelerated interviews with other banks?
Also, I interviewed with other BB during internship recruiting. Do you think it is a good idea to contact my previous interviewers, ask for feedback and even network with them? I am concerned that they did not give me an offer for a reason, and if I contact them and say that I am still interested in their bank, they would just deny my chance on full-time recruiting based on the impression they had on me when they interviewed me. Would really appreciate your thought! Thanks in advance.
AJ
Contact them and ask directly and say you need to know soon or you’ll have to accept an offer elsewhere. Sure go ahead and contact previous interviewers
Hey Brian,
I’m just wondering, for someone who plans on doing SA next summer, what would be the right time to start setting up informational interviews?
End of summer / early fall
This is a bit of an odd question. I have been actively networking in every way possible and this weekend I sent a number of e-mails to alumni from my university that I found on our alumni database. I received an e-mail back from a woman telling me:
“I’m not sure how this happened, but I am not an alumni of XXX, and I am not a Mr! Good Luck to you. Best, ________.
I noticed in her e-mail signature that she is in fact a SVP of the large boutique I thought I had found an alumni at. I responded to her e-mail:
I am completely embarrassed about the mishap. I went back into the alumni database and it lists a ________ at ______. I sincerely apologize for the inconvenience. I hope you have a nice Sunday.
I then received an e-mail from her saying:
Glad there is someone at _____ you can reach out too. Good luck!
While she is not an alumni of my school and I did get call her a Mr., she still seemed quite supportive. Would it be crazy of me to wait a few weeks and possibly reach out to her and try to get an informational interview? Any thoughts would be extremely beneficial. Thanks
You could try but I wouldn’t put too much effort into it, not likely to respond if she’s not a real alum.
I have been interning in NYC for the summer and have been working hard to make connections with alumni while living here. Recently I was contacted by my main contact at ABC bank a year or two older than me saying I should not spam people with emails and to wait at least a week in between emails. I emailed people once a week trying to set up times to grab coffee or speak about banking if I didn’t hear back, and I think the people he referred me to must have said complained to him. Do I just apologize and wait a little longer to get in contact or just move on?
Yeah I would just apologize and move on and focus more on other contacts.
Hi, when does recruiting season usually start for full-time offers? I am getting contradictory information. If I start now would it be too late? I am in the middle of my summer internship at a wealth management bank.
August/September
Would it be too late to start networking/doing info interviews?
It is quite late but you could still start now if you wanted and have some success at boutiques
Hi Brian,
I did an informational interview and sent a thank you email in which I had expressed my desire to meet him at a future date. Normally I get a “likewise” reply back. But I never got a reply back from him. Is this a bad sign? I added that person on a professional social networking site and he did add me back. So I am not sure.
You have to follow-up more specifically and propose a date/time to meet… would you ask a girl (or guy if you’re a girl) on a date and not give a date/time? No, you have to be definitive.
Hi Brian,
This might be common sense, but I personally am unsure…if I were to ask someone to coffee for informational interview, am I buying the coffee for that person?
Would it be the same if it were to be a lunch informational interview?
Thanks
If they are working they should offer to pay for it. You can offer first but they will probably not let you.
This alumni in my school said he’s happy to speak with me but would prefer to respond through email. Should I press him to speak on the phone since, like you’ve mentioned multiple times, email is too impersonal? And for this other alumni, he asked me to send my resume to him before we speak, why do you think he’s asking for my resume? And if my finance gpa (3.7) trumps my low cumulative gpa, would that put him off? Thanks for your time.
Sorry, but also, what would you say my chances are going into FT interviews with that GPA and having had an marketing + accounting internship at a F500 company?
Depends how low your GPA is. Chances are not great but you still might have a shot with aggressive networking.
Yes still press to speak on the phone and say it may be faster. For your resume just make sure your finance GPA is listed separately, he just wants to get an idea of your background first
An MD recently asked for my resume, but I am in the middle of an internship and havent done too much. How should I write it onto my resume? Just write like what I have done so far?
Yes, see the resume templates here and use one of them
I work as an intern in a different field than IBD for a BB. For the part where it says I tell them where I found them, can I say I used the company’s directory to find them? I work in the same company so I have access to directories. Will it seem too intrusive?
Yes just say you came across them while looking for something else
I am in the same situation as Peter. Since I have the contact info of the entire IB department, how many bankers would be too many to cold email for an informational interview/weekend trip?
Presume you hv the info for the whole department across industry teams? If so, email bankers from each industry team to get a sense of how the department works, which team fits better etc. As long as you don’t “harass” people or leave them a bad impression, I think you can contact a few. Try to scoop out which team is hiring etc.
Hi, a lot has been said about how you need to network so bankers know who you are, so at 3:00 AM when they are going through resumes and selecting who gets an interview, they will remember meeting you and you will get chosen. My question is, how do you apply for an investment banking/other finance job to being with, how do you become one of their hundreds of resumes in that pile? Not that that is my end goal, I plan on doing plenty of networking, but if I don’t get to the “how can I position myself for an interview” stage with everyone I meet, how do I at least apply and get them my resume in the stack with everyone else so that I am at least considered, possibly by someone who has met me?
You can apply directly on the bank’s website, or more likely through the official on-campus recruiting system if you’re at a top school. If you’re not at a top school you need to get bankers to pass your resume along to HR so they have it
Hi,
I am a rising junior and just began sending out emails to basically everyone I could find in investment banking or private equity, whether they are an alumni of my school or not. I recieved a response from a CEO of one of these top firms and was shocked. I sent out an email to this person as almost a joke, never thinking I would get a response. I now have a meeting with him in a few weeks and am flying to NY for it. I am extremely nervous and unsure on how to prepare in order to impress someone of this stature. I mean can I really follow up with all the same questions regarding internships when it is the CEO?
Any advice will be greatly appreciated,
Zach
Sure, just treat him like a normal person… do some research beforehand but don’t lose sleep over it.
Hi,
First of all, thank you for sharing all this with us. I just have a question on networking. I come from a non-target school. I am not really sure how to make contacts in bb’s.
Should I just cold email / call analysts and associates?
Don’t bother at large banks. Focus on smaller ones and cold call extensively. Do a search on this site for “cold call”.
I see. What if I’m working as a summer analyst at a local boutique already and have some connections in BB? (I’m a rising-Junior, and plan to hopefully work at a bb or the prestigious bounties for my Junior year summer).
Just do it. Don’t over analyze it. Just cold call them and see how it goes.
Thanks!
Hi,
I go to a target/semi-target school. most of the bbs don’t host information sessions until late in the Fall but a lot of boutiques are coming to our career fair/hosting info sessions in sept/oct. for the boutiques should i start requesting informational interviews now (before the sessions at my school) or should i meet them at the sessions and then ask to follow up?
Could do either one but I would probably contact at least a few now just to get a head start on everyone else.
Just contacted an associate I found at a hedge fund I’m interested in working in. I sent him a few lines telling him I found him on linkedin, had found a job posting for a position at the firm on OCR, and was interested in a short informational interview if he had the time for it. Is that good?
I can’t help but feeling like a total stalker. I see why a lot of people are reluctant to cold emailing/calling.
Yes that’s fine, you have to get used to feeling like a stalker if you want to break in.
I did some work shadowing with a VP at a BB and he gave me his business card. I had an informational interview with him on the phone. In the end of the conversation he offered to help me get an interview at the bank, asked for my CV and said he’ll refer me to HR and will get back to me about their response. A day later, I received an email from him but he didn’t mention anything about the referral. Have I blown my chances?
Thanks in advance,
Vini
Um, no, just ask about it again in a week or so to remind him.
Hi Brian,
I e-mailed a banker asking for some of his time to talk about his experiences and his firm, and he responded extremely quickly saying to call him sometime in the week. Should I follow up with an e-mail suggesting times, or just call him whenever I’m free in a few days?
Thanks for your help.
Follow up with an email and ask him when he is free cause bankers are typically very busy. Thank him for his time in advance btw. If he doesn’t respond in a few days, then call him to follow up.
Hi Brian,
I took your advice during my information meeting with a banker at GS. Normally I am accustomed to having a conversation but I ended up mostly listening and absorbing his answers to my questions.
He did offer to meet up again in person if I had any follow-up questions or needed advice. Of course I assured him we would see each other soon.
I was thrown off by his initiative to maintain contact but I believe I was able to break away from the friend-zone.
Thank you for the advice, we shall see where this leads.
My only question is, should I shoot him a thank you email? I still want him to know that I would like to meet with him in a month or so.
Yes. Always always send a thank you note immediately after meeting someone who wants to help. Why not take on his offer and see where this leads? He might genuinely want to help.
Hi,
I have a phone call tomorrow with a banker I met at a networking event. I asked if he could have a look at my CV and cover letter before I apply. Is there anything I should specifically prepare for? I’m planning to look up recent deals they’ve done and questions I want to ask. Anything else?
Hopefully if it goes well, when I apply, I’ll drop him a line asking if he could mention/refer my name to HR and thus getting a first round interview. Is this the way to go about things? I’ve not done this before. (I’m in the UK)
Thanks.
Focus on yourself – be able to articulate why you want to get into banking, how you can add value (your leadership experience, ability to be attentive to details, diligence, etc.)
You can do that. If he has the power to hire you, I’d also try to impress him so much that he wants to hire you. But if you sense that he is a bit “hesitant” to help, I would not push it.
Hi, I have very good relations with a recruiter. How much power does a recruiter have in terms of getting you an interview and perhaps getting you an offer? I understand that MDs make the decisions but dont know how much power a recruiter has.
They have some power in getting you an interview but in terms of getting you an offer that’s a different story – the MDs have the hiring power, not the recruiters
Hi Brian,
I am a recent graduate from school and recently moved to a new city. Am I too late for networking with people? Is there anything I could do to get myself prepared for the fall recruiting?
Its never too late to network. Just network now! Yes, know your story, know why you want to get into IB, present yourself well, dress appropriately, be nice and easy going
Hi,
Thank you for the tips! I’ve actually got into the habit of doing this early on in my college years, but it’s always great to get validation! (haha) I’m a personable person so I talk to anyone that is approachable and it is a SMALL world…I’m at the beginning of recruitment, but I have several internships at major record labels and studios all from networking and I had zero connections when I started college. THESE TIPS ARE NOT JUST FOR INVESTMENT BANKING, IT APPLIES TO EVERYTHING. Great advice!!! Thanks again. Good luck to everyone!
Thanks Angela. Yep job hunting = networking = applies everywhere
Hi,
I had a scheduled lunch with one of the VPs at a bank I was interested in. However, he then told me he would be really busy this week so we should do it on the phone instead for the next day. He scheduled me in for a very specific time and I called but he didn’t answer. I left a VM and emailed him but I haven’t gotten a response.
I know I was scheduled in because his secretary sent me an apt reminder.
Should I follow up again or should I take a hint?
Try calling him 1-2 more times but if he doesn’t respond after that, move on.
Is it possible that you reach out to alumni after you apply and didn’t get through CV screening but later the alum helped out and give your CV to HR? Or this only works before you apply?
Thanks alot!
I think if the alum helped the timing doesn’t really matter
Hi,
So i just go ahead and apply now to not miss the deadline? and then just keep networking?
How explicit should i be in asking the alumni? for eg:” Could you help passing my cv along to the HR? “. Moreover, I should only network with the people in the division i want to be at, right? for eg: i want to go into IM, so i shouldn’t contact people from IBD, S& T?
Thanks Nicole
Yes. Or just ask the alum if he or she is hiring, or if he or she knows anyone who is hiring. Yes. Network w people in the division you want to work for.
Thanks Nicole,
Should I wait for firms to come to my school for info sessions and then apply? Or I just go ahead and apply because it is a rolling basis?
Moreover, If i get a referral from an alum, then I could skip all the application and questions online?
Just apply now – no pt in waiting if application is on rolling basis
I believe the alum will still ask you to submit the application formally
Hi Nicole,
Thanks! So If I get rejected, then if the alum interferes, I could apply again? Moreover, if I didn’t get through resume screening, could I apply again when the firm comes to my school or it is just one shot and then over?
Thanks alot. I am sorry for bombarding with so many questions but I am really confused how to go about this recruitment process.
That I’m not sure – if you are sure that your alum will vouch for you then I speak to him/her before you apply. But if your alum doesn’t have much say in the hiring process, I would not wait for him/her to apply. If you don’t get through resume screening, I don’t think you can apply again.
Hi, 2 short questions:
1. what do you mean exactly with getting referrals?
2. I was searching for alumni at linkedin and did find some. But they aren’t in my network. Would it be too rough to just send them a networking request and write there why I did add them? The problem is that it isn’t possible to write them a normal message/email (I guess you know). How should I proceed here?
Best,
Malibu
1. Getting referrals: meaning getting you other contacts in the industry
2. Introduce yourself briefly (very briefly). Say you came across their profile on linked in, are interested in what they are doing and wanted to connect. Try to build an online dialogue then move it to emailing -> phone conversation
Hi, I have scheduled a couple of meetings with bankers that could be considered informational interviews, I guess. Basically the meetings will consist of having a coffee to talk about their careers and get some advice. One of them is a VP and the other is an Analyst. I previously talked to them on the phone and they were really nice. I am already in the recruiting process in their two firms, and one of them even asked me to send my resume to him. I am from Italy, if that helps by any means.
My question is: how should I dress for these meetings? When talking on the phone to them they were really nice, and I don’t want to look distant by wearing a suit (I think it would be kind of overdressing), but, on the other hand, I don’t want to “underdress” either. What would you recommend?
Thanks a lot in advance.
If you want to be safe, wear business formal (suit). If it’s just an analyst you might be able to get away with wearing business attire, but not necessarily a suit. But it’s usually more of a problem to be under-dressed than it is to be over-dressed.
So even if our meeting is more like to talk about their careers and get some advice on mine, and not an interview, should I wear a suit? For the analyst would dressing pants + nice shoes + shirt work? thanks again
Not necessarily a suit, just something business casual. If you want to go all out, you can wear a suit but I don’t think its necessary. I think dressing pants, nice shoes & shirt work
Sorry to resurrect this thread, but I’m wondering when is the best time of day to talk with a Banker? Thinking of an extended weekend trip to network, so I want to know when to ask them for time.
Will they have moments to break away during the day?
Yes they do! I think morning times work. Bankers work long and odd hours so it is very hard to say – depends on whether they are staffed on a deal etc. However, if you want to talk to a trader/institutional salesperson, try to talk to them after market hours.
Hey,
Really useful information, but I am struggling with the part where you say that we should not attach our resume when emailing to set up the information session. If I am trying to set up a meeting with someone that has never spoken to me before, wouldn’t they want to make sure I am at least worth their time, and not some screwball with a 2.5 GPA and majoring in psychology?
You wouldn’t want to attach your resume to the email particularly in your situation.
Hi,
I’ve been using your website for a few weeks now & found it to be extremely helpful. THANK YOU!
I had a few Qs & could not find these answered in the FAQs or anywhere else :-
1. If I share a mutual friend with a banker on linkedin, can I just message the banker saying that we have this mutual friend, or should I ask the mutual friend to make a referral ?
Very often, one of my friends on linkedin is connected to a lot of bankers, so it is hard to ask him for so many referrals.
2. You mentioned that resumes are shortlisted by analysts & associates (specially alumni from the same school). Yet you suggest that if possible, we should contact senior bankers (MDs etc). Isn’t that contradictory advice ??
3. I have some friends on linkedin who have worked at Goldman, but left about 3-4 yrs back. Would it make any sense to ask them for help ?
4. Also, I know some ppl who work at big banks, but in more of backoffice roles. How helpful can they be with getting me an interview / referring me to ppl who can get me an interview ?
Thanks!
Shweta
1. The later is better. If its hard to do so, try the first option
2. No. Because once senior bankers like you, you will get an interview regardless of whether analysts/associates like you or not
3. Yes because they might have other contacts
4. Not too useful
Hi
I have a lot of information interviews set up, but I am struggling with how to make it clear that i don’t want to be “friends”, and I actually want them to help me get a first round interview. Is there any wording that you recommend I could use to get the message across, but at the same time not sound too pushy? Do you think it would be better to mention that I would like their help to get an interview at the end of the call, or perhaps in my follow-up email? Thanks
Just ask them if they could help you get a first round interview – no need to beat around the bushes
Hi,
I had a couple of questions regarding informational interviews :-
1. Should we attach a resume with an initial email ? Why/why not?
2. In one of the articles, you suggested that during informational interviews, we should focus more on the other person’s background & such stuff, and avoid talking more about finance/banking etc.
Maybe I am wrong in thinking this way – but if the other person is a complete stranger (school alumni or somebody’s referral), wouldn’t it be odd to ask him these “fluffy” questions ?
I have a few informational interviews in the coming days. In case I DO ask these background-related & other “fluffy” (please pardon the term) questions, how should I handle a situation when someone is blunt enough to say to me “Dont waste my time. I know you want a job, so why don’t you cut the s**t and come straight to the point”.
Please advice.
Thanks !!
Rahul
1. Yes – it gives people a background snapshot of who you are
2. In a way yes but you still need to talk about topics other than finance/banking to build rapport – something that should come naturally.
In regards to your last question, yes. While you should still try to develop a genuine relationship w that person talking about non finance related work, get straight to the point and make the ask!
Hi,
I’m looking to get a summer internship but it’s already recruiting season. Should I still be trying to get information sessions or should I just directly ask in emails how I can get an internship at xxx firm?
Thanks
Just ask for an internship
What is the standard dress code for informational interviews?
To be safe, business formal (suits for men).
Hi Brian,
Would informational interviews be any different for someone who is a recent college graduate and looking to switch jobs (from Middle Office to Front Office)?
Yes, they could still be helpful especially if a lot of alumni work in the industry.
Hi,
I’m a grad student at a “Target school” & am graduating in 3 months, so I’m looking for a FT position.
One of the BBs has a Full-Time position posted on my univ’s career site, and through linkedin, I found one of my undergrad alumni working in the IB dept at the same office as the job posting.
The application deadline is today, and I have never spoken to this alumni (he is 12 yrs senior to me).
What should my strategy be ?
Thanks !!
Approach 1
Should I email him & ask for an informational interview, and after the interview, tell him that I’m interested in applying for this position ?
–> With this approach, he may feel that I am only interested in applying for the job, so am trying to use him to help me.
Approach 2
I just email him that I am interested in applying for this position, and ask how I can “best position myself for an interview with his firm” ?
PS: I am also trying to contact other people in this bank through my n/w.
Apply first and then speak to him.
Better than approach 1 or 2
Hello Brian,
I had an interview with an Investment Bank. I feel I was good in the interview. They said it will be a long process.
It’s been a week and I have not heard from them. I’m not worried, I’m just trying to increase my chances.
Do you think I should add them to my linkedin network? Here, I have 3 thoughts: 1. I don’t want to be insistent. 2. It’s been a week, isn’t it too late to add them? (Maybe I should have done it before and now it’s too late), and 3. Linkedin is only for people you really now, not for those with whom you just have talked for an hour.
Thanks in advance for your help.
I don’t think adding them to your linkedin network will increase your chances. Just be patient and wait
Dear Nicole,
It’s been a month and I haven’t heard from them.
Would it be a good or bad move write them an e-mail asking the situation?
Thank you,
Yes, ask them. Good move. If they don’t respond, call them.
MANY THANKS..EXTREMELY USEFUL WEBSITE
My situation is quite different… Apartly ill-adviced.. I am from a non-fianacial background .. Pharmaceutical industry and I will be completing an MBA from a target school in London – wanting to break-into the IB/PE/Hedge fund industry.
1.) Is it too late to break – in at mid 30′s?
2.) I will want earn CAF after my MBA – is it necessary? given my poor financial background?
3.) I am writing to several banks for internship – what is the best approach given my circumstance – I have 3 Master degrees – will they see me as overqualified mid-life crisis individual?
4.) I have just created LinkedIn, what other network websites can I join?
1. Maybe; depends on how badly you want it and why
2. Not necessary http://www.mergersandinquisitions.com/cfa-investment-banking/
3. Maybe. There’s no best approach – just apply and see how it goes
4. Readers may be able to offer you better insights. Linkedin is good but sometimes its best to network with bankers by attending events with them or hanging out in places where they hang out
“NOTE: Please do not do this if you email me – I’m already inundated with emails and requests, and sorry, but I do not make introductions.”
Hahahaha… you really had to see that coming :)