IBD SA Networking Prior to Group Placement
I go to a target and landed an IBD SA position at a large MM firm last semester. Group placement for the summer is fairly random (I can submit a couple preferences later in the spring), but I'm not sure yet if I'm leaning towards product or coverage.
I'm currently abroad but is there any merit to reaching out to connections I've already made to ask more about group dynamics/specifics? How many different analysts can I reach out to without being a pain? Not quite sure what the protocol is for this or if it'll be seen as a bother.
Hey there ! I've always heard mixed feelings regarding reaching out to analysts before the commencing date of the SA. There's people who really like it and there's people who hate it. I would definitely exclude reaching out to lots of analysts, keep the list the short and if possible just reach out to analysts to whom you've spoken to/networked with already.
Networking prior to joining as an SA (Originally Posted: 02/07/2013)
Fellas,
I'm trying to make a checklist of all of the things that I should be doing to prepare for my summer analyst position that begins in a few months. One of the items on that list is networking at the bank that I'll be working at, and trying to get to know some more people prior to starting. I've already established good contacts with my school's alumni at the bank. Would it be advisable to go beyond that and speak to more people? It seems like there's a fine line between being networked and enthusiastic for the job, and being annoying.
I'm sure that many of you have been through this process, and it'd be great to get your advice on the subject. I'd also appreciate the insight of any current analysts/associates as to what the protocol in this situation is.
Doesn't the bank sort of help do this for you? I know my bb has a Facebook group and emails and such that go around before training. I think doing anything on your own (especially this early) would be weird tbh, but that's just my opinion. I also wouldn't want to be the first and possibly only person in the group that does it. Low upside, high downside.
Yeah I haven't heard anything from my firm but an SA last year told me the bbs do this. I also got asked to fill out a survey and submit a picture and such when I accepted my offer, so I'm fairly sure they will contact you closer to training start date for things like this. Also depends on how small your group is/what your location is. Reaching out to other interns might make more sense at a smaller group or at a regional office than in NY.
Bump!
Do it as early as possible, but don't come off as desperate. It's good to be ahead of the pack before analysts are innundated with cold emails, but make sure you present yourself well..
I'd just relax. The bank will probably set up something a month or so down the line once they've finalized the intern class, and you'll get plenty of chances to meet people. (And trust me, once you start during the summer you'll have more than enough time to get to know everyone...)
Exception is if you're networking for a specific group. That's the best way to get your top choice come Sell Day.
Thanks for your thoughts, fellas. Will relax for a little while and catch up on schoolwork in the meantime!
Group Selection/Networking for BB SA (Originally Posted: 10/24/2014)
Hi everyone,
Accepted a BB SA offer for investment banking. The summer internship is group-specific but the actual group selection doesn't take place until later. Does anyone have any advice on how the process works and any things I should do to increase my chances of getting into a specific group?
Thanks in advance
Definitely interested in hearing about this too. I'm in the same situation.
bump
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My SA was generalist so this isn't personal experience, but essentially from what my friends said and what I've read you'll have a sell day of sorts much closer to the internship where you'll network with groups and then rank your preference and groups will do the same I believe - basically a matching process. While others will know more I can only imagine networking in advance with peppe in groups you're especially interested in can only help your chances of getting a group you really want
bump
networking. that's it.
networking. that's it.
In my case, we didn't have anything arranged but were just asked to put in our preferences online. I asked some people I had met during the interviews what their opinions were on the teams I was interested in, picked a favorite and asked HR to put me in contact with the staffer. Very straightforward though my experience was that very few people actually took the time to do this.
Edit: double post.
Choosing groups in IBD: how to do this politely? (Originally Posted: 01/04/2011)
I've accepted my SA offer and over the past few weeks, I've gotten calls from people in different groups reaching out and trying to encourage me to work with them this summer.
I am very torn between the two options (public sector IBD vs. traditional corporate IBD), and getting to know more corporate groups hasn't helped much either...
Eventually I (or they) will make a decision, but until then, what's the appropriate way to talk to these people? Act very interested all the time? Let them know when I accept my offer/which group I end up in? I really appreciate all of them contacting me, even though sometimes I'm not interested in their group, and don't want to reflect poorly on myself.
Sounds like you know exactly what to do, why even waste a post if you include the right answer as part of it.
Well my concern is that if I act very interested in their group to be polite now but I don't end up there, will they be annoyed?
It goes both ways, just like recruiting for the job. They'll rank their candidates just like you rank your preferences.
You may end up with a sell-day, which is when they bring all their candidates in and there's essentially a matchmaking process. You speak with people from a number of groups, they rank their favorite candidates, the candidates rank their favorite groups, and then decisions are made.
Well try to focus on traditional IBD... public finance is different... go from there...
Find your top group, make it clear, you want the group with the people you like best and good dealflow.
You may end up with a sell-day, which is when they bring all their candidates in and there's essentially a matchmaking process. You speak with people from a number of groups, they rank their favorite candidates, the candidates rank their favorite groups, and then decisions are made.
IBD SA Group Selection (Originally Posted: 02/01/2012)
Hi Folks,
Not sure how the group selection process works in Asia. Apart from the personal preference and capability, it seems to me that banks will usually place top candidates to stronger groups like M&A or harder/ more specialized groups like FIG.
What if you are placed at one of the following mentioned groups, but you do have a strong preferennce of other groups? Will you (or is it recommended to) raise the preference to the HR?
Would much appreciate if someone can share the insights with us!
Undesirable internship group placement (Originally Posted: 05/09/2014)
How does one go about getting placed in what seems to be a shitty group for a summer internship at a MM bank?
By being at the mercy of HR and the needs of the firm
If I dislike it and get a full time offer, should I accept the offer and try to move around the bank or just go look elsewhere? It's not IBD and I don't know if my GPA is strong enough for anyone in IBD to get me, though I did some ibd interviews.
How to network after getting a SA offer? (Originally Posted: 03/16/2015)
Hey guys, what do you do after getting a SA offer? How do you network with people at the firm you are working for and other firms?
I wouldn't worry too much about that if you're already in a group. Alternatively, if you have an upcoming sell-day or you will be in a pool / rotational program, then it could be helpful to reach out to your contact(s) at the firm so they can connect you with people in the right groups.
Network exactly the same way as before, only this time around it will be much easier given people know you aren't basically trying to harass them for a job as you already have a sa lined up. In most cases they'll be more receptive to speaking to you
Thanks for the input!
As MD8 said, if you're in a group already, there isn't much to do except maybe get in touch just before the internship and ask if there is anything you can do to prepare for their group or ask them to send you an old pitch book just to familiarise yourself with the nuances each group has as a far as formatting and layout is concerned.
If you're pooled, might be worth reaching out to your contacts for a phone call/coffee before you start to get their view on different groups.
It's likely that they'll give you a buddy or mentor. I wouldn't necessarily wait till you're through with training week to get in touch. I reached out to my mentor for a coffee during training week to ask about things such as staffing, the review process, offers etc. Did the same thing for my buddy. Except he told me to forget the coffee and said to come in for a quick chat. He then recommended I find my cubicle, log in, set emails up and sort out IT issues, find a headset (you might find yourself typing up investor calls), map the closest printers and find the printing room. In hindsight, this was probably the best piece of advice because on the first day, when people are eager to staff you, it helped to have my shit together. Again, this is rare and it by no means has any bearing on the offer process but it was just my buddy being proactive.
Networking after accepting SA offer (Originally Posted: 04/24/2013)
So what is the consensus view on networking and/or handing out a resume with some folks after accepting internship. I will be starting at a BB in the summer for PWM. I am a junior, so if this summer does not work out in my favor I am scared of being left up the creek with no paddle. Am I wrong to go to career day at school and hand out my resume or network? I am hearing some say that I should just leave it alone and not attend the events. Is it normal to risk my FT future on a SA turning into FT?
I don't recommend attending events but I would definitely be making friends with as many people as possible that could be of use at the appropriate time
Connect with the division you are interested in.
Internship Group Selection (Originally Posted: 03/20/2013)
I have accepted an internship offer at an investment bank where upon completion, FT candidates go into a rotational program. With that being said, group placement does mean as much if I decided to stay on. However, if I were to reach out to other banks for FT recruitment, I was curious about how previous group experience played into the mix. Should I go with the top/best group at my bank, even if it is not where I would want to be at a BB bank? Would a product group (M&A or LevFin) be more appealing broadly, than by going with a particular industry group? Any thoughts are appreciated.
Pm me
SA Group Selection; Does it play a role in landing FT offer? (Originally Posted: 02/05/2008)
How are groups chosen for the summer? Are there politics involved in getting into a good group? I come from a non-target school and networked my way into a BB. Does not bearing the Harvard name on my resume mean I will be treated like a second class citizen? Will people in my group act more favorable to SA's who went to the same school as they did? I want to ensure a full-time offer so would it be wise of me to try and get into the group where my contact is, even though it may not be the group that is my first choice (it is second or third)? Thanks in advance.
I would be curious to see responses to this topic as well.
Once you get the SA offer, you're on an even playing field WRT full-time offers. That being said, you're at a disadvantage when it comes to group selection coming from a non-target. You'll have a sell-day where you meet with all the groups for a little bit, and then they'll rank you and you'll rank them. Some groups are definitely more difficult to land in, with advantages going to kids who've networked and have alums from their schools in the groups.
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