How to Network Your Way Into Investment Banking in 5 Simple Steps
Here it is – the step-by-process you’ve been waiting for:
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There’s too much material in this video (email readers, please click through to view) to transcribe here, so here are the highlights – and my evil scheme to incentivize you to watch rather than just skimming through the text:
Why?
You need to learn this step-by-step networking process for 3 reasons:
- Networking is actually simpler than most people would have you believe. It’s more about learning the fundamentals and practicing a lot rather than getting your Ph.D. in quantum physics.
- When times are bad, you need networking to find work and to set yourself apart from the thousands of other unemployed financiers.
- But even when times are good, you still need networking to set yourself apart from the thousands of people who suddenly “got interested” in finance.
What?
For our purposes, “networking” refers to 2 strategies:
- Developing relationships with informational interviews, speaking with alumni, going to information sessions, and going on weekend trips.
- Asking for jobs directly via cold-calling.
You might think that these are completely different processes, but there’s a surprising amount of overlap – and the steps in this video apply to both strategies, with a few differences that we’ll point out.
How?
Here’s where you have to watch the video to see the magical 5-step formula that will lead to your success networking.
Key points:
- Why your “story” must be different from the “story” you tell when interviewing – and how to make sure yours gets results.
- Why you need a “list” from day 1, where to find the names, how to prioritize them, and whether to go for junior or senior bankers.
- The 3 most important points in informational interviews – and why a lot of “conventional” advice is completely wrong.
- Why you need to “train” bankers to expect requests from you – and how to do this from day 1.
- How to make your cold-calls successful, including 2 ninja strategies for getting through to the right people and speaking with them live.
- How and when to follow-up effectively – and how you can “make your ask” without embarrassing yourself or coming across as too aggressive.
So watch the video right now to learn all this and more.
What Next?
Simple: practice.
Once you’ve watched this video and learned all the steps within, figure out how to apply them to your own situation.
How will you tell your “story” differently? Where will you find names, and who will you contact first? What are you going to request from bankers to “train” them to expect future requests from you?
Don’t wait, and don’t aim for perfection – go for “good enough” and adapt along the way so that you start winning interviews and landing offers.
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Is networking with people at bulge banks but not in IBD worth it?
Networking is always worthwhile because those peeps might know people in IB. However, networking w bankers in IBD may be more effective & time-efficient
When asking for informational interviews, would it be best to contact someone at the Analyst/Associate or VP/MD level?
VP level + to get a job
Analyst / associate level to scoop info
Do you think I would have any shot at medium-sized MM banks (not on the level of Jefferies, Baird, Harris Williams, and other companies that likely have online career pages, but below that) by cold-calling HR and asking if I could speak to someone about internship opportunities? Or does cold-calling the main line really only work for small boutiques?
I don’t think HR will forward key contacts at the firm to you. I would suggest you to find out the contacts of the key people you want to work for and contact them directly instead
Do I only network via meetings held by universities?
Or are there other ways for me to do so?
(Aside from cold calling.)
Go to places, events where bankers congregate.
Could you please provide examples?
All I know are networking events in university (as I’ll be attending a non-target I won’t have access to all these events as some universities hold some events for strictly to their own students).
Though I do plan to go to a target for a masters, I’d be more comfortable doing all I can along the way. Inclusive to cold-calling and working hard to get into a target.
Hang out where bankers congregate (i.e. clubs, bars, restaurants, gyms) chill and be friends with them!
Oh I see. Thanks. :D
Now time to find where they do hang….
I’m presently working full time in a BB firm (not in IBD, but it’s a front office role)… I’m a little weary of “aggresively networking” for a lateral move into IBD, because it could backfire if someone from my firm finds out about my efforts to move? Don’t want to jeopardize my current position and job.
This is the only factor that stops me from really ramping up any networking attempts; I have a clear plan and bunch of names to contact otherwise. You think I should go ahead and take a chance anyway? FYI, I’m based in an Asian financial hub.
True. Network discretely but diligently. You should always be networking and “sniffing” for information. Doesn’t hurt to get to know those names of yours and ask them out for a drink or sth. Get to know them through your contacts/events/places they hang out at