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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Will it also work for shifting from a regional Boutique to a Bulge bracket?
When you are already into Investment Banking, asking questions about work and other related stuff becomes difficult. You might just have very little to talk about from an informational interview point of view!
That’s a good point – info. interviews don’t work as well for lateral hires because, as you pointed out, you’re already in the industry.
Obviously you still want to network, but you should be more direct and skip to the, “Is your group hiring?” part rather than asking to chat about their background. That applies for more senior levels as well, at that point you have to be more direct.
When do you think is the time to ask contacts to pass along resume for this coming full time recruiting?I wouldn’t want to do it so early as summer internship only ends this week at most firms.Also when I know multiple contacts at one firm, whom should I ask to do that (they don’t know each other but all told me to send it along when summer ends)? Just don’t wanna cause any unnecessary chaos and shoot myself in the foot :)
Probably a week or two before the official deadline… target your more senior contacts, maybe ask more than 1 but don’t ask 10 or that will backfire.
A
Can i ask how to got in contact with your contacts?
Thanks for your time.
When do you think is an appropriate time to ask for an interview? mid-september, or when classes begin? Also how effective would networking with alum in Hong kong would be?
Probably a week or 2 before the official deadline / start of recruiting. HK networking would work well, as long as it’s someone fairly Westernized (aka pretty much everyone in banking in HK) then you won’t have any problems.
So you consider the application deadline the start of recruiting? Or is the start of recruiting around the time the opening is posted?
Usually the deadline is the start of recruiting because that’s when they begin selecting people for interviews
Hi Brian. So how about Asia? Does networking work well?
I just arranged an informational interview with a junior analyst from a global boutique investment bank. He’s from my school and just graduated last year. What can I talk about? Should I ask more about his life in school?
thanks
Yes it does as long as it’s not someone who grew up in an Asian country, spent their whole life there, never went to the US or other countries, etc. because they tend to be very traditional. For someone who graduated last year you will be fine, just ask about what he has been up to since graduating, times at school and so on.
I have a very close contact who is a MD (fixed rates, not IB) at a BB who put me in touch with the head of campus recruitment the beginning of this year. I corresponded very briefly with the HR contact, who also gave me her telephone number and offered to speak with me via telephone if I had any questions. I am wondering how I would go about using these two contacts to better my chances for a IB SA position next summer.
Thanks for your help.
Chat with the HR contact and then ask directly at the end the question I listed above about positioning yourself for an interview. For the MD, do the same thing and set up a time to speak and then at the end directly ask him about interviews there.
What if most of the alumni working in banking is in NY, while my location is quite far from NY and I would not be able to jet over to the city for a brief meeting?
Would a phone interview work better?
Thanks.
Yes
Somebody asked about the deadline above and you mentioned one or two weeks. Does that apply to non-target? There is no info about the deadline on most banks’ website yet, and for a few that has, they only say “we begin FT recruiting at the beginning of Sep”. I should ask contacts right from the end of August/beginning Sep right?
Yes, try shortly before recruiting begins elsewhere
Hi Brian,
You mentioned not to start TOO early to network since it’s tough to keep in contact for a long period of time and the high turnover in finance. What timeline would you suggest for people like me whom just started working for about a year? And strategy-wise, would you recommend asking directly, or try to develop a longer term contact?
Still contact people 3-6 months in advance of when you actually want to interview / move elsewhere (maybe closer to a year actually since it can take that long). If you’re already working you can be more direct especially if you’re in finance already.
Good post Brian,
but I did not understand the following sentence:
“get referrals from those 5 to expand your list”
As I am not an english native, referral means that the contact tells other bankers that I am a fit/smart, correct?
So how do I expand my “list” thereby?
Thx in advance!
I think in context, to ‘get referrals’ is to ask one banker for names and contact information of other bankers you could email/call up to talk to, do informational interviews, keep in touch etc.
You ask the 5 bankers you contacted to give you information for other bankers who might be willing to speak with you.
Thanks again for your help. Networking helped me land a summer IBD position at a strong mid market bank and now I’m trying to leverage that in to a BB full-time offer. One thing I’m never sure about in networking is what to talk about with HR people before you ask them how to set yourself up for an interview? Would it come off as insincere to ask them about how they got to where they are since they know you’re not interested in doing what they do? I haven’t been reaching out to HR since I don’t know what to talk to them about and don’t want to mess up my first impression with the gatekeeper to the firm
Yeah don’t ask HR people about their backgrounds since you’re not trying to get there, just stay focused on interviews and how to set yourself apart.
Hi Brian, thanks for the post. I was curious of what you think about using past interviewers as contacts for info interviews? I am applying in the fall recruiting cycle and have plenty of email addresses from my rounds in the spring. Especially since I know these people are in recruiting – is it a good idea to email them first?
That is fine and can actually be much better than the alumni database since you already know them.
This post is really helpful, thanks!
In my business comm. class, they told us to be very formal in our emails when contacting business people. For example, to always start every email with “Dear Mr. Smith: ”
Should you be that formal in your emails or can you be more relaxed with bankers?
What about the info interview itself? Does being formal help or can you relax more?
You don’t need to do that with analysts or associates… maybe for more senior bankers (VPs and up) you can. I always laughed when people addressed me as “Mr.” as a junior banker. You don’t need to go overboard on formality, but you do want to look decent if you’re meeting in person (business formal if you can, otherwise at least dress pants + shirt).
Address people as you yourself would want to be addressed from someone you don’t know. If someone addresses me as “Mr…” then the conversation feels distant and too formal. Be polite and respectful but remember that bankers are (mostly?) normal folks that approach relationships the same way everyone else does.
What would an appropriate subject for these emails be? I don’t want to be too wordy, and at the same time, I do not want to come across as childish with a mere “Hi”
Thanks, this was a great article!
“Inquiry – [School Name] Student” or “Introduction – Referral from [Person Name]” and so on.
Hi
I live in the Netherlands and came across a list of alumni from my school. There, I found three persons with email-addresses that hinted that they worked for Bulge Brackets Banks – all of them. Without hesitation I emailed them, asking if I might call them to ask some questions – one of them responded within five minutes. Another five minutes later we were on the phone and after another 10 minutes when we hang up, he promised he would look closely for my application and – unless my Resume looked like shit – make sure I receive an interview. In all, it took 20 minutes and made a deeper impact than anything I previously done, including studying for exams.
Just wanted to share that with you.
Awesome, thanks for sharing. See folks… networking works, even in Europe where it’s supposedly “less effective”…
Hi, Patrick. It’s a great surprise to see someone from Holland here. I’m an international student studying at a Dutch business school, now on exchange in the US, and I’m looking for a summer internship in i-banking in London. I just thought it would be great if we could get in touch and share our ideas regarding our common goal. If you’re interested, please, respond to this post and I’ll give you my contacts. Thank you very much.
Regards,
Ilya
Do you think that a recommendation from the head of a regional division for PWM in a BB can help to get into the investment bank of the same firm? Other than the introductions that can be provided, do you know of any circumstances where strings can be pulled across different business lines to get someone into the bank?
Thanks
It might help, but would be more meaningful if it came from someone within IBD. Sometimes people have relationships across different divisions so you’d have to look for situations like that – otherwise they don’t have much say.
When you say IBD, what groups are you referring to exactly (M&A, Debt Capital Markets, Equity Capital Markets, Public Finance, Leveraged Finance, etc.)? Thanks!
Everything except public finance
Really? I work in Public Finance and my day-to-day looks about 90% the same as your description of a day in the life of M&A. What exit opportunities do you think exist for Public Finance (debt capital markets, restructuring, derivative sales, etc.)?
I don’t know much about it but it’s different because governments operate differently from companies… PE firms do not invest in governments, for example, so PE would be more difficult to get into. You’d pretty much be doing more public finance or could go into another division at the bank.
Brian what do you think about Spring Insights/Weeks at BBs? e.g. (I think they are not common, even not available in America)
http://www.morganstanley.com/about/careers/careers/programs/articles/25234328.html
http://careers.jpmorgan.com/student/jpmorgan/careers/springweek
I am about to start my studying in september and I guess that there are no summer analyst internship for people in their first year of three, right? So would you consider a spring week?
Thank you!
They can be very good networking opportunities so you should definitely do them if possible.
Oh (you need an edit button :))
When can you generally start as summer intern analyst when you do a three year bachelor degree? in
1/2 Semester (1st year)
3/4 Semester (2nd year)
5/6 Semester (3rd year)
?
Thank you very much!
Usually after your 2nd year, right before graduating in year 3
So how do people manage to do so many IB internships at different bb’s? I mean you only have one summer than for one internship so far? Do they consider wintern internships? Or after graduation internships?
Greets
School-year internships, some people start freshman or sophomore year, some people do master’s programs…
I think the answer is obvious, but does this apply for junior year internships also?
Yes it does
Hi Brian,
I’m wondering what’s the best preparation an offer to one’s first investment banking internship? Specifically, what types of work/internships have the most impact (in Los Angeles, if possible)? Thanks.
Anything finance/business-related… private wealth management, corporate finance at a normal company, business development, and so on.
Hey I had an undiagnosed learning disability up until 4th year of undergrad, and as a result my grades suffered. After diagnosis and treatment my marks improved significantly, but overall my GPA is bad.
Is the learning disability an acceptable explanation for low grades? I don’t want to sound like I’m not taking responsibility for my actions. Is it possible to network my way in given my current situation? Should I forget about finance in the meantime and focus on developing a track record of success in another industry?
Personally I would not say that because it’s open to interpretation… you can still network in, you just have to explain how you’ve improved significantly in recent years.
Hello Brian,
I’ve been in touch with an MD from a BB. He is really helpful and nice. However, besides this BB, i wanna apply for another BB which I have zero contact. Would it be so bad to ask this MD for a referral? If no, how should I phrase it to make it sound better? Thanks.
You can ask him for a referral but I would not say, “By the way, can you refer me to anyone you know at your competitors?” or give a specific bank name as that might sound odd… just leave it open-ended and see where he knows people, otherwise you risk stepping on toes.
Brian.
For position titles, I saw the template indicated [position title], then [group name] for professional working experience.
If I worked as a Financial Analyst under the Financial Planning & Analysis unit, should I put Financial Analyst, Financial Planning & Analysis or should I loose the Financial under my title and just put it as Analyst, FPA?
Reason I am asking is because I have 2 other analyst titles, both with Something prior, and that might make it redundant or annoying… what do you think? ie. One is for Marketing, and one is for Accounting… so i’m not sure whether I just put down Analyst for all 3, and as you mentioned, but like FPA, Accounting, Marketing for the Group Name
You can do it either way, doesn’t matter much
If ABC Corp has a subsidiary named XYZ… and I am currently working for XYZ. On my resume, can I just put ABC Corp since it’s more recognized?
Or should I do ABC Corp – XYZ … or ABC Corp (XYZ)… or just XYZ?
Thanks a lot, great article, great website. keep up the good work!
Doesn’t matter, you can list ABC Corp first and then give the division name
Is it necessary to have a summary sentence stating what you did and the results below your position titles? Or can you dive right into the 3 point results…
- Also, is it a MUST that you have to write… Reported to “who and who”?
Thanks,
LL
No and no, you’re fine leaving both out
Hey Brian, I’m a starting sophmore year in sept. and hope to land a internship on bay st. next summer. I know your experise might not be north of the border but do you have any idea when recruiting season starts in Toronto. thanks
It is usually the same as recruiting anywhere else, Dec – Jan into Feb for summer internships.
Hi there,
I have an informational interview with a VP which I set up pretty much right at the end of our first conversation. I am just curious what you think about dropping the “how can I best position myself for an interview with your firm” line? Do you think it would be too soon considering I’m only meeting this guy for the first time, or is it suitable considering that recruiting season is almost underway? Thanks for your assistance.
I would just drop the line anyway since recruiting season is underway.
Hey there-
Just wanted to drop a line thanking you for this post. Coming from a non-target school, I have only a few alums that I can contact and was weary of how I should follow up without alienating them. After I read this post, I figured the more direct route you suggest was worth a shot and have received nothing but positive feedback thus far. I really appreciate it.
Awesome, glad to hear it.
Hi there,
I guess this happens all the time but lots of people I met told me to send my resume this time so they could forward it. Now that I emailed them to ask about that, they don’t reply at all. There are some who appeared extremely nice and helpful during informational interviews, and I have emailed them twice to ask about resume referral but no reply. I’ve no idea what’s going on (though one thing I realized is people change places in this industry pretty frequently like analysts leaving, higher-up moving across regions so maybe it isn’t that they don’t wanna help). How many times should I bug them and will a phone call work?
Another thing is if I can find the name of the recruiter of a firm through google/linkedin, should I email them directly instead of applying online? Not sure how much this helps b/c there is no connection and they probably receive lots of emails?
You can contact the recruiter directly if you have the info. RE: follow-up, go for 3-4 times and if they don’t respond after that, move onto more responsive contacts.
Oh I forgot, does the “how can I increase my chance of…” sound too blunt? :)
No
Hi, Brian, thx for this awesome post. How to impress the banker by saying something funny besides the knowing-banking-staff questions? Usually what’re the topics they feel interest in, especially for bankers in HongKong?
Travel, sports (maybe not as much in HK), technology, possibly art or food depending on the banker…
How Long should I wait after I sent a first email asking the “question”? And how should I word the second email politely?
You should base it on the recruiting calendar, not length of time between communications… send it before the resume drop. You can write a brief 2-sentence email – no need to write an essay as no bankers have time for that
What if a contact already forwarded my resume to HR, and I still have yet to hear from HR. Should I contact him again.
Yes.
Hi Brian,
Thanks for the article – I can testify that networking pays off!
I interned at a top bank’s capital markets group (under IBD) in New York this summer, but found out over the course that the industry groups seem more interesting. Now that full-time recruiting is underway, I am starting another round of networking.
A few questions:
1. I attended almost all the information sessions last fall and spring when looking for internships, and got many contacts that way. For the banks where I didn’t get interviews, or where I didn’t receive offers, can I apply again to their coverage groups now that I have had a prestigious internship? Would it be okay to get back in touch with past contacts, update them on my summer, or even ask the “how to position myself for interviews” question directly?
2. If I expect past contacts to come back to campus again for info sessions soon, should I still ask for one-on-one meetings? And how should I approach them at the presentations?
3. For the couple places whose offers I turned down, is it a terrible idea to contact them now that I am interested again? One alum was extremely senior and helped me a lot, but never replied to me after I decided to go elsewhere…
That’s a very long comment… Thanks so much for your help!!
Yes you can apply / reach out again, you can still approach them for 1-on-1 meetings, just approach it as a casual update. Contacting places where you turned down offers is fine
Thanks!
Hi,
I’ve been asked to stop by for coffee to chat with an analyst as an informational interview. Is turning up in a suit going overboard (she knows I’m on my way to uni)? Would smart casual/jeans and nice shirt suffice or would it make me seem less serious about the company?
Cheers
I would not show up in a suit, just do business casual.
Hi Brian, if I have requested an info interview from a banker and have not heard back, how long is it appropriate to wait before sending a follow up email request? Thanks in advance!
Wait a week
Hi,
I am a Management Graduate and curently working for Public Sector Bank in India in Retail Banking 2 yrs. I feel my USP is Relationship Building and have a great passion towards Invetsment Banking. I am willing to work towards the sales in Investmemt Banking.
But I am unaware whether retail banking exp will be consider for the same and how much will be the initial remuneration?
Kindly guide me.
Retail banking is completely different – I don’t have exact #s for you but compensation is far lower than at investment banks because profit margins are lower. You can still get into IB via retail banking, but it takes networking and possibly an MBA.
Hi Brian,
First of all thank you for the fantastic posts! I used the technique you mentioned and contacted an MD of Global Market and Research Tech from Bank of America Merrill Lynch. He agreed to meet up with me this coming Friday! But I really have no idea of what I am going to discuss with him! I desperately need answers of the following questions:
1) Because I have no background in IT (math and econ is my major) any questions I ask about his background would seem irrelevant to me…. if I ask him questions about how he started his career wouldn’t he be thinking : “why is she interested since she is not a IT major??” So what can I ask ??
2) We just have a huge gap between us! He is over 40, and any types of questions I asked him would be so way back for him…..what exactly should I be talking to him?
2) I want to work at IBD division, and he is not the head of that division. If I ask him for internship opportunities would it be strange?
3) Should I ask for passing on resume directly after the first meeting? We met and talked during the info session and I am actually really surprised that he agreed to meet up with me. In the email I mentioned my difficulty of finding an internship at this late of stage because I have no experience whatsoever. If he agreed to see me, I guess I could ask him for help for landing me an intern?? but at the same time I found it too soon and blunt….
I seriously have no idea what we will be discussing….since I want to work in IBD and he is IT head. But I also feel it’s such a waste since he is an MD….
Desperately need help! Thanks! A timely reply would be greatly appreicated….
You still want to ask about his background… pretend like you’re interested in IT, and then casually weave in your requests for help in other areas in the future after you’ve gotten to know him. I wouldn’t ask for anything upfront like a resume or internship help because he’s in IT. Other than that, again just keep it casual and ignore the age gap… talk about topics like travel, activities, sports, etc. that anyone would be interested in.
I talked to those bankers and got good suggestions. But nobody realized the things that they would do for me. Even I contacted, they did not reply.
What should I do now? What are good strategies to follow up?
Not sure I understand your question – you have to be very direct e.g. “How can I get an interview at your firm?” otherwise they will think you’re just asking for general advice. I would just follow-up again and ask that.
I asked them “I need your help to land an interview”. Most of them told me that they will check with HR to see how to get people in from off the circle. since I am recently graduated.
But nobody replied me what the result is and they did not pick up the phone when i followed up.
What should I do?
If you’ve already graduated you would be better off targeting small firms and cold-calling boutiques in your area – at large firms the process is so standardized that it’s tough to break in when you’re already out of school.
Hey,
Do you know what is the dress code for an info interview with buy-side? Do I have to wear a suit or will dress shirt and dress pant be ok?
Thanks,
Curious
Usually business casual is fine but if you’re meeting someone higher level like a Partner you might want to be more conservative and go with a suit and tie.
Hi Brian,
i’m a junior looking for summer interns. i know you suggested starting networking 4 months before recruiting process, but i didn’t get a chance to read this AWESOME website until just now :( is it good for me to start contacting them now (early Dec)? or it’s better to wait for next recruiting season (full-time)?
Thanks!
You can still do them now but you have to be more direct and/or focus on smaller banks as well to boost your odds.
Hi Brian, can you tell me if this is good emails structure?
Good Morning Ms./Mr. XXX,
My name is Marc, I am a junior majoring in finance at Non-Target University.
Upon researching alumni in the New York City area, I came across your name on our alumni website.
I was wondering if it would be okay If I can either call, or meet with you somewhere in the city and talk to you about career advice regarding financial sector.
My schedule is very open, and I can fit any date and time to meet or speak with you.
I would greatly appreciate any help.
Thank you very much.
-Marc
“Sentence 4: Propose 3-4 dates and times (and places if you want to meet in-person) to speak with them”
Brian,
I’ve set up a call with an alumni from my non-target school and he works in DCM. I have applied online 3 weeks ago and have yet to receive a response from the bank’s HR. This is the first time I am reaching out to this guy – do you think it is a reasonable ‘ask/mini request’ for me to say “By the way, I applied to your bank and have yet to hear back, do you think you can speed up my process. I really want to interview at your bank.” Is this okay or too forward?
Thanks.
You should have followed up within a week – definitely not too forward. Do it now.
Hi Brian,
I am a student at one of the leading engineering schools(top 5) in India. The traditional procedure is followed at my school for recruitment ( assessment centre, case studies …) .I am from an engineering background but want to start my career in Investment Banking and some 5-6 of the top 10 IBs come here for recruitment. Is CFA really helpful here in India to get me the job. If not, can u suggest any other certifications/courses. I hold some key positions at the university level and have a gpa of 7.5 on a scale of 10.
P.S: I am a penultimate year student.
Thank you.
http://www.mergersandinquisitions.com/investment-banking-india/
Hello Brian,
I been reading the site for a while and have been pursuing the strategy of finding alumni on Linkedin and emailing for informational interviews, but so far my efforts have yielded no results. I also have a special dilemma in that I am in the process of creating a M&A Case Competition for Undergraduates in my business school. I was wondering a few things:
1. Should I continue to mention the M&A Case Competition in the emails I send?
2. I was wondering about the proper etiquette for following up to the non response to the the emails I have sent?
Thanks for any advice you can provide.
Yes it’s fine to mention, email twice and then call to follow-up. Keep your emails extremely short (< 5 sentences) or no one will read them.
Thanks for the reply. I will make sure to tell about the progress of the case competition and networking efforts.Also one other thing, If I made a mistake in the email I sent, how badly would this count against me even If I apologize for the error in a follow up email?
Don’t draw attention to it by apologizing, doesn’t matter and looks worse if you bring it up
Hi there,
I am French and soon to get my green card (couple months). Reading through your website, it seems it’s dead to try and land a full-time position at a BB because deadlines are all over. Is that right? Same for boutiques or can I try via an alternative approach (i.e. be bold and contact people directly and not just apply online)? I should be in the US around March/April. Is it just too late to get an IB/M&A job?
Thanks,
D.
As of now (late January) most deadlines have passed. If you’re arriving in March/April all you can do is go for boutiques or hope that someone reneges on his/her BB offer at the last moment.
Brian,
There is a strong possibility that I might go into public finance after college. While I’m excited to do this for a few years, my dream would be to run for public office. What are your thoughts on this? Could one effectively solicit campaign contributions from former (and wealthy) colleagues? Is Wall Street as good a training ground as any for Washington or a local city hall or state capitol?
I suppose so, but these days most people hate bankers and want them all to die painful deaths, so you’d probably want to de-emphasize your background in finance when actually running for office.
I’m currently a sophomore in college and attended a few info sessions for summer analyst programs. I was able to get a few business cards from analysts while there. However, most of these summer programs are targeted at juniors. Should I still set up informational interviews this year (as a sophomore) so that they remember me for next recruiting season? If so, when should I contact them and is it too late to contact them if it’s been 2/3 weeks after I met them at the info sessions?
Thanks for your help.
Yes still contact them, do it now so they don’t forget anymore. Then send a reminder or two between now and recruiting next year.
I’ve been trying to do some informational interviews with alumni, but I have ran into some problems using the methods described.
One alumnus I contacted criticized me for not being direct with him. I had spent much of the informational interview asking him personal questions on his background and his life at the bulge bracket where he worked, and he stated he was wondering why I was doing this.
In this case, I have decided to be more direct with him and submit my resume instead after his bit of critique. But, how do I know when it’s okay to be direct or indirect when I am networking? Apparently some people like to be more direct.
Yeah sometimes people will want you to be more direct, other times they want you to be more indirect… depends on the person. You have to read them and tell whether or not they’re getting impatient – if they seem confused when you ask those types of questions, switch and make your questions more professionally-focused.