Investment banking networking is defined as:
“The process of finding, contacting, and speaking with investment banking professionals to build relationships, gain knowledge, and eventually win interviews and job offers via those relationships.”
The value of networking is to build personal connections to augment your resume and skills. By doing so, you tip the odds in your favour and increase your chances of landing the internship or job offer you want.
Investment banking informational interviews are also known as “investment banking coffee chats” or “investment banking networking events,” but the purpose is always the same: to get to know bankers before recruiting, and to use your relationships to win interviews.
Ideally, you should commence your informational interview strategy 3 to 6 months in advance of recruiting.
Below we outline how to set up informational interviews via email, phone or LinkedIn.
While it may be easy to dismiss cold emailing as “spam”, many readers of M&I have achieved success with this strategy.
A great example of cold emailing, with email templates included, can be found here:
You can also find several proven and effective Investment Banking Networking Email Best Practices here, including downloadable email networking templates (DOCX.)
Cold calling is the other main channel to reaching potential targets in the industry.
While we see cold calling as a secondary (and more challenging) strategy to cold email, many of our readers have used the telephone to great effect, so it can’t be dismissed.
We unpack these steps further in our article on Calling Your Way Into Investment Banking. The best reader story about the cold-calling process is in this interview:
Some future investment bankers try their hand at networking, but then complain that “networking doesn’t work in investment banking”.
This is clearly not the case, as we have documented dozens if not hundreds of success stories from customers of this site.
The problem is that many people make mistakes that destroy their chances of success. The top 6 mistakes are:
Investment banking has become a highly-competitive and sought-after field, and nothing happens until you “get your foot in the door”.
Networking is one of the key strategies for landing banking interviews, and over the years we have developed a comprehensive toolkit for making your networking journey as effective as possible.
Because many customers use their new-found networking chops to land interviews, many people choose to invest in the Networking Toolkit and Interview Guide Bundle, saving $50 in the process.
You could try to work this out yourself, or you could follow a proven process and system for getting the job in investment banking that you desire.