Dinner with MDs

I had this problem last summer, when I attended several "private equity breakfasts" hosted by law firms. I learned to stick by whoever invited me (presumably your boss or somebody experienced in the field) and just shut up and listen. Believe me, you're not going to wow them with any insight anyways, so just learn as much as you can.

Just smile and nod....

You're right. MD's are ridiculously insightful. You should just sit like a mute, absorb their wisdom. In a few years after standing dumbly by, you can say a sentence or two. You don't want to damage your career by speaking or anything. These are risks you can't afford.

You're not going to wow them with your market acumen and predictions, but I think you can leave an impression by asking some intelligent questions. That way you're contributing and learning at the same time, shows interest.

Or you could just improve your general knowledge and ask them insightful questions about their private tours. For instance, if he was talking about Italy, ask him if he visited the Colosseum and what he thought about it.

In my experience in alot of these situations, the MD's will make an effort to reach out to the undergrad and ask about where they go to school, what they are studying, what their career aspirations are, college sports, etc. Granted, there is a fair amount of business banter and shop talk, vacation talk, etc. But seeing as how there is someone significantly younger at the table, I'm surprised they didn't reach out to include you knowing it was an intimidating situation.

Just sit and listen, don't try and add any input. I would agree that asking some intelligent questions would be the best bet, or if in the proper setting, just ask one of the MDs how they ended up in PE or what was a motivating factor that drove them to the top. Something semi cheesy like that.

Questions are good, but make sure they're well thought out. When in doubt, just listen. It also depends upon the MD/person you're talking to...

thanks guys. by the way, a goldman md i met at the dinner invited me to have lunch with him. naturally, i said yes. how should i approach the lunch? should i attempt to pay for it and what should i talk about?

Well, don't insist on paying for it. This guy will know that he is better equipped to pay for the meal, not to mention that he invited you. If the waiter/server asks whether the check should be together or separate, just say together with the intention of paying for it. This is by far the best way to show some class. However, I wouldn't worry, when I eat out with any of my partners they always pay but I never go with the intention they will.

Congrats on the lunch invite and good luck.

There is absolutely no way a Goldman (or any for that matter) MD would ever allow you to pay or split a preliminary meal. Ever. Politely offer once, but do not fight over the bill, it is severely disrespectful.

Thanks for the advice. Ended up eating a very pleasant and tasty lunch courtesy of the MD. Learned some stuff too.

What'd ya learn?

actually nothing that i didn't know already. just a bit about the markets, and that hardwork and a bit of luck and friendliness is necessary for success. yeah, i know, but it sure sounds a lot more brilliant coming from a BB MD.

"OO you went to Italy, did you see the Colosseum?"
"My, what an insightful question, young man, however did you know?"

MD asking you to lunch already. Nice. Seems like you've done a bang-up job of positioning yourself for a spot at an ibank already. Keep those grades up and don't be afraid to email a question or two down the road to the MD.