I am going to speak with an analyst at a reputable, regional, boutique tomorrow afternoon. To ensure that the call isn't a fiasco (as my last one was), I have some general questions that I would really appreciate help on:
Should I be the one to end the conversation? Serious question. If we have been talking for 10-15 minutes, should I end the conversation or keep firing questions until he decides to hang up?
Is it fair to ask if he can refer me to other analysts/associates he works with? I figure the more people I know at the firm, the better my chances of getting an interview/job.
Who should be asking the questions primarily? My last networking call essentially became a mini-interview, but I wasn't expecting the caliber of questions.
How would I go about meeting the analyst for lunch/talking again in the future. I want to build a lasting relationship, not just a 10 minute phone call.
That should be good for now. Thanks in advance.
Sounds like you're taking this way too seriously and trying to make it far too formulaic. I tend to have a few questions to ask if it gets to the point of an awkward silence, but other than that just ask about their background/what they do/how they got there. If they focus on a specific group (ie restructuring), ask if that was a specific choice of theirs or if they just fell into it.
Get to know the person, be social, sound interested in what they do. As for ending the the conversation, I generally do that myself when I feel that I've gotten a good amount of info out of them and displayed my desire/intent... there's no real answer to this question... hopefully your social skills are developed to the point that you can tell when someone is no longer really interested in speaking with you. At that point, just let them know that that's all you've got to ask them, and thank them for their time.
Agree with meph. (Q1) Also, I tend to do this: If it was planned for 15-20 minutes, just say "Well, I originally asked for only 20 minutes of your time. Unless you're able to talk a bit more, I won't take any more of your time." But like above, ONLY do this if you have more to say or the conversation was going well. I used to just talk to people (especially higher level ones like MDs) just because they were willing to talk to me. But they are extremely busy and you should (at least pretend) to have things to do, as well.
*EDIT: Didn't notice the following questions the first time around. (Q2) I've asked for referrals before, but it's pretty touchy. I pretty much ask for one specific person or group. Never just in general. (Q3) Normally, you'd be asking the questions. It typically depends on whether the other person really feels you just want advice and how close it is to recruiting. Conversation shouldn't be 100% IB-focused, so that would help to make it a conversation. (I talk about college sports every single time.) (Q4) The way to do that is related to the first question, actually. The conversation should end before it feels everything has been said, i.e. no awkward pauses. This way, you just say that you'd like to catch up when you are either in the city a few months down the road or if you have any more questions.
Let the conversation run its natural course. But don't take up all of the guys time, 15 minutes should be plenty to get your questions off and build some rapport.
You can say, "Mr. XXX, do you know of anyone else that I should speak with to get a good picture and some more insight about your firm and XYZ group". But if you already know the conversation is not personal and more "rigid", I wouldn't ask. If the dude finds you interesting, he'll tell you about other people.
Have a list of questions and talk through them. If he asks you a question you answer, then go back and forth.
You don't ask for a meeting. You say, "It was a pleasure speaking with you, I will definetely keep in contact with you during the next few months." Then you drop an email from time to time to say whats up, talk about how your shit is going, ask a few more questions. If you get a good response then you say, "Hey i'd love to talk about some more things over lunch if your available"
Networking is NOT hard. If you're a friendly and outgoing person, it should come naturally. And if you don't have those skills already, you should either learn or get out more.
Whenever I talk to anyone (I had a call earlier today with a very senior person at a BB, and all we talked about was fit type stuff and he eventually told me he was going to try to help me get an interview), the first thing you should be able to do is build rapport.
I did this when applying to Bschool.
Time Management: Be very cognizant of the person's time by using phrases like "does now still work for us to talk", and "I want to be appreciative of the time you are taking out of your busy schedule".
Questions: Have an outline of questions in front of you, as well as some info on the group that you can leverage in the convo. Also...always have your resume in front of you in case it turns into an interview, so you're prepared.
The ideal Q&A session is one where you not only learn about the group, but one where you can sell yourself through a conversation that doesn't feel like it was a waste of time for your interviewer.
Totally agree with the previous posts.
Regarding referrals, always ask if they can refer me to other people, in or outside the company. Outside because most people that i've spoken to work alone but do have connections.
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