Importance of Networking in the UK?
There's a lot of information on WSO about how to network with alumni and people in the industry to get a job in IB, and sometimes networking is portrayed as the most important aspect in securing a job. A lot of the networking advice here seems to be more related to the US, which isn't surprising since that's probably where most users are from.
However, can some of the monkeys with experience working in the UK (or other Western European markets) speak to the importance of networking there and how the whole process differs to that in the US? For example, I haven't heard of anyone in London or Frankfurt who cold-called or invited an alumni at a firm for a coffee chat.
All of the stories on here I've read about non-target monkeys making it into IB or buy-side by networking their asses off were US-based, so would be interesting to hear about UK/Western Europe experiences.
Bump
Been told that cold calling is the absolute worst thing you can do. Randomly ringing up bankers in the middle of the day is not going to result in a good conversation. Email/Linkedin and set up a call, even if it can't influence your app, it still shows initiative
to be fair, cold calling in the US would annoy anyone as well.
Why is it not only common, but also the most popular and recommended networking method in the States then?
From experience no one gets an interview through an alumni. And "campus recruiting" gives it a misleading name as it is essentially firms promoting their programmes on campus and does not take note of specific students. Best way to network is through invite-only firm-specific events . (where you have to submit a CV to register before getting an invite)
Can confirm that there are some unis that do have OCR in continental europe, where you attend to their promoting events, they receive your CV and can call you for an interview afterwards.
(In some other unis it goes the other way round, you send them your CV beforehands and they invite you for the 1st round of interviews which happens right before / after the event)
If we're talking about standardised recruitment at BBs, then probably the best networking you could do would be via events (e.g. dinners) that the banks organise. You can always reach out by email for a chat/call to ask about the industry etc but chances of being invited to interview are lower (still, helps).
That said, I DID get my first M&A interview following a coffee chat with the alumnus of one of my exchange unis. So the link we had wasn't even that strong, but I guess he appreciated my eagerness.
Cold calling is too tricky. Coffee chats can work if you're lucky. Maybe they work better at places where they recruit simply via linkedin post/email etc
Networking helped me get my summer internship. I don’t really know if my contacts forwarded my cv but I did name drop em on all my applications and subsequent interviews.
very important in the UK who you know. most ppl at BBs London are well connected. u occasionally get a pleb too among the ranks
I must have been that pleb but people at my BB this summer didn’t network to get in.
It's not important at all. I know plenty of people who went the full route of spring week -> SA -> FT without networking even once.
I guess it doesn't hurt though.
can confirm - i know people who didn't even have a technical interview and managed to get gs/jpm/ms grad as they got the spring conversion to summer and then to grad
Yes, there a lot of people who are not technical at all because they broke in through spring weeks. And then London in general places less emphasis on technicals than other offices.
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