Reaching out to alumni

Ok, I’m looking for an internship in PWM this summer and there are plenty of alumni from my school in this field. What is the best way to go about this search, should I:
-contact alumni asking if there is a time they could sit down and speak with me. OR
-take a more indirect approach, asking them to answer a few questions (via email) and than try to turn that into a informational interview either via phone or in person.

 

I did a PWM internship at ML. I was straightforward when I asked my boss if he needed interns, he said yes, I sent my resume/interviewed with him and got an internship. Being direct isn't a bad thing, it saves a lot of time and if the person can help you they will, if they can't they won't

My boss was not an alumni of my school or friend/family member for that matter.

 

First idea is good if the person you contact is an Analyst/Associate who has enough time to pass on some advice and help. Of course, the better you know the person the easier it gets to crab a coffee with them.

I once established a relationship first via e-mail/network, then followed-up with a coffee (this approach may take some time, remember this!!)

 

I have had success with the email as the first point of contact approach, but from there shoot for a time to speak on the phone or in person. It is much easier to move forward if you are actually speaking with them especially in person.

-An opportunity not taken is an opportunity lost.
 

Thanks for the responses, since it is already January and I have limited time i think im going to go with the first strategy and request an informational interview in the initial email. By the way this approach is strictly for alumni I will be more direct with everyone else. Any other opinions are welcome.

 

Just search the site. This has been covered many times. Basically, find them on Linked In. Use the company email database on WSO to get the email format and then email them.

http://DollarDrip.com Username: Knowledge Kick
 

Why should it being out of state that matter? People move around job wise, location shouldn't matter.

Just do a search on your standard alumni email. I'm not sure if you really want to be that specific about working in your hometown when speaking with alumni. I assume you are trying for a certain industry, and ideally you want to work in your hometown. I would suggest focusing more broadly first when contacting the alumni, and then when you actually have some dialogue going, mention you'd like to work in your hometown, if that's possible.

Without knowing your circumstances, I don't know how appropriate it is for you to be so specific in your demands

 

When I contact alumni I come across as wanting to pick their brain instead of asking for an opportunity. They already KNOW you are looking for an opportunity. Just send them an email or linkedin message stating that you're interested in getting into ____ and you'd appreciate any advice/stories they could give you about how they started in the industry/what they do now.

 

Hi Hickory,

Why not call them?

If you only have an email address, I would advise stating any similarities you might have and your objective. Then try to set up a phone or face-to-face meeting.

 

I really don't give out much information in an initial e-mail, except for maybe my major. I usually just say that I go to whatever school, that I'm interested in learning more about a career in banking or whatever, and ask if they might have a few minutes to answer some questions. I usually go more into my background and such if they get back to me. I think everyone does it a little different, but this has worked pretty well for me.

 

Hey Guys, I appreciate the feedback. Based on my understanding, something like the following should suffice then as an introductory email?

Dear Mr. / Ms. X,

My name is John Doe. I am a rising senior at University College pursuing a double major in ecnomics and political science. I found your contact information in the University College Alumni Directory. I have a strong interest in pursuing consulting after graduation. As the beginning of my senior year is approaching, I am eager to learn more about your field and what your work entails.

I would appreciate the opportunity to ask you some questions regarding your career path via email or perhaps a phone call.

Thank you for your time.

Sincerely,

John Doe

 
<span class=keyword_link><a href=/finance-dictionary/what-is-london-interbank-offer-rate-libor>LIBOR</a></span>:
GOB mentioned this in another thread, but I wanted to bring it to your guys attention. One of the best things to do to reach out to alumni is to go to the career services office and search through the database looking for alumni. You can search by bank, and also by office address. Office address might come in handy if you are looking for alumni in a particular department (For example, Citi's Investment bank is located on Greenwich street, but there Retail/Corporate Groups are uptown - not sure about GTS, maybe GOB can fill in). Another thing I like to do is find the person's name in the alumni database, and then look them up on LinkedIn to see if they are in an area you want.

Typically, its tough to meet contacts between divisions. People from trading generally don't know people from IB. They are more likely to know traders at other banks. My advice is to find someone in the area you want to be in (IB/S&T/Research/AM etc) and then ask that person if they have contacts in other areas.

If you guys are Freshman and Sophomore, you really need to start networking now. Your first goal should be to find out in which area you'd like to be working. If you guys are interested, I can do a post on the different areas, personalities, etc. My personal advice is to go to the alumni database and find someone in each area. If you need a little help, I can guide you to some alumni who are more willing to help out. I will do a post on the proper way to meet with people if you guys are interested.

The key is to get started now. Learn about the different areas of finance, and find out the ones you would be most interested in working. I remember my problem is that I wanted to work in ANY area, and really had no idea or direction. This meant meeting with people was difficult because I seemed like I am all over the place.

In summary, if you are a Frosh

  1. Go to alumni base, find a list of people from each of the different areas.
  2. Meet with alumni in each of the area to learn more about the lifestyle, exit ops, etc. I will also write a post on proper informational interview techniques, etc.
  3. Before your junior year begins, decide which area you want to be in, and stick to it. It doesn't necessarily mean you will do that for life or that you have to do that or nothing else, but it is very important that you have a clear goal that you can articulate to potential contacts. Do not be afraid to say you want to work in IB. If you find that type of lifestyle appealing, then go for it. My problem is that I wanted to work wherever I knew people who could help me get a job, which didn't work out well.

Finally, try and find a close friend also interested in working on WS as well. It is good to be able to have someone to talk to about this stuff. Have him or her sign up for WSO as well. It might seem counterintuitive because you are competing for the same jobs, but it really isn't. My friend and I worked together and talked about potential strategies and informational interview techniques. We talked about the market and valuation methods. He wound up with SA interviews in IBD and Capital Markets, I had interviews in S&T and Research.

PM me if you have any questions. I want to see the school succeed and I have a lot of knowledge about getting a job on the street (although it didn't work out for me, I certainly learned a lot and can teach you a bit from mistakes).

Good advice. The alumni directory just went to full swing recently, so not many ppl know about it yet.

Do what you want not what you can!
 

....get over your shyness/social anxiety of the situation and just call the guy.....ask to talk for a few moments and then ask questions about the industry/how he got started etc....if he likes you, he could set you up.........I hope you have a near perfect GPA or go to a target school.....because...how do you expect to get into the industry with 0% business experience...without at least SOME experience, it will be hard to prove your case as to why you want ibanking/are a candidate for it...how do you even know that ibanking is for you?

 

I'm at a semi-target.

As for my sudden interest in I-banking, it was there even this past year. I had applied to several banks and landed 2 interviews with BB's and MM's each. But when I couldn't land an internship, I got dejected and pursued engineering internship.

My GPA is 3.8+ and I've got various other EC's that are comparable to those of the people who did land an internship.

 

I first went to my career center and asked for names and emails. Then tell the alumni you got their name from the career office. I introduced myself in an email and the I asked about the timing for the recruiting and about the available positions.

 

I generally contacted alums and asked for resume help/advice on breaking into the industry. From there, they would either offer or ask if I planned to apply at their firm, or I said I was interested and wanted to know if they could help.

Then again, as an Ex-Bear SA, I contacted a couple people and basically asked if they knew if their firm was hiring, or who I could contact, etc. I don't see anything wrong with this, as long as you don't say something to the effect of, "Can you get me a job?".

 

I've had great responses from alumni.

Send them an email expressing your interest in banking. Ask them if they're willing to talk to you on the phone to talk about their own experience and if they can offer you any advice. Sound genuine. Usually, they'll at least give you the time of day, and from there, good luck! They'll usually ask for your resume; otherwise, steer the conversation in a direction where you end up talking about your near-term career plans.

 

Speaking of networking, is there an ideal time to start contacting alumni for SA recruiting this upcoming winter? Would e-mailing them now and creating a relationship with them be too early?

 

Ive also had a great experience. When I was in the recruiting process, the alumni I talked to even called the recruiting manager and I think that helped a lot. I would say most of the people I talked to were very open to questions and to help you, but dont bring stupid questions. Ask specific questions about what they do, and about how they see the market.

 

I'm more or less in the same boat as you. Rising junior, non-target, decent GPA. I compiled a list of alumni, as you did, at all types of IBs. I've emailed quite a few of them basically introducing myself, saying I'm interested in IB, and asking if I could ask them a few questions about the industry from someone who has first-hand experience. So far the responses have been fairly positive, most seem to be eager to help/answer questions. I've talked over the phone with several of those I emailed and at the end of the conversation, usually about 20-30 minutes long, I ask if they would critique my resume. I believe they all know what I'm looking for (an in to their IB SA program), but I feel its a little to early, both in the recruiting season and in our relationship, to ask them to pass my resume onto HR or what have you.

Basically, my advice would be don't hesitate contacting anyone. The worse that could happen is they don't email you back, but most will be impressed with your initiative. Ask good questions, be short and sweet in your emails (busy IBers don't want to read a thesis about yourself), be polite and professional in all your interactions, and overall build a good rapport. As recuriting season picks up and you become closer with your contact, ask more direct questions about a career at their company and see what they can do to help you.

Hope this helps. Any more advice would be appreciated because I'm pretty much going into this blind as well.

 

Badger hit it on the head. as a rising junior from a target im doing the same thing. the alumni have been very responsive and its fun getting to know new people. be relaxed and respectful and you are sure to make a good impression. and read "How to Win Friends and Influence People" it has helped my networking skills a lot.

 

Take a look at my blog (only one post so far) - your background sounds similar to mine, and I strongly believe that alumni were the key to getting me a job. To clarify, none of them hooked me up with a job, but their advice was invaluable and the primary reason I was able to break in. Also, don't shun bulge brackets, as I've heard the philosophy that because they're so big, they may be more willing "to take a chance" on you than a tiny place where you're marginally much more important.


http://ibankinglife.blogspot.com

 

Don't assume that because you are from a nontarget that you cannot get a BB interview. Yes, many/all banks are scaling back recruiting, but that doesn't mean you should just write them off. Make sure that you exercise any and all options available to you, and the BBs hire more than anyone else.

That being said, boutiques and MMs that have alumni from your college (and even HS, if it was a prep/private school) will be more receptive in all likelihood. They didn't get as affected by the mortgage situation (if at all), and they often hire in a less traditional fashion than the big boys.

Just be as affable and receptive to your alumni as possible. Be persistent, but don't sound whiney. Never ask for a job right off the bat, but be sure to let them know you are a smart kid who is very interested in the job. The better your relationship is with your alumni, the more likely they are to go to bat for you. Most nontarget alumni LOVE to hear from kids looking to get into their industry, because they obviously don't get nearly as much recruiting from their campus as the HYPS kids.

 

How frequently do you talk to the alumni. I always wondered this. You call them once make the introduction and have maybe an informational type phone conversation. Then how often to you keep contacting them, and what do you talk about in subsequent phone conversations? I feel like after 1 or two conversations I can cover most of the standard questions. Do you just keep asking other question you already know to sound like you are interested, talk about current events?

 

If you have built up a decent relationship with an alum or contact, I'd email them or call them every couple of weeks. Just ask them how things are going, ask a few more questions you've been thinking about, maybe send them a funny/interesting article he/she might like, etc. Don't let them forget about you, but don't fill up their inbox either.

 

Right now im working in PWM. Not ideal but its something.

I've been talking with a VC guy for the past year or so. I email him probably twice a month to see how everything is going and ask new questions. I know where you are coming from with the whole, running out of questions after 2-3 contacts. After every conversation I usually end with asking them if they don't mind me contacting them in the future if questions should arise. So far all have been more than willing to stay in touch. My plan is to email them about twice a month with new questions. Even if they don't respond or take a while to do so, I feel that getting your name in that inbox can only attest to your persistence and once recruiting season comes around, they will see a familiar name.

Some more advice I picked up along the way: It can be very nerve-racking contacting alumni. To calm my nerves I usually have a sheet with several questions laid out in front of me. I use them as more of a guidline and to make sure there isn't any awkward silences while I try to think up questions. I would suggest contacting alumni lower on the totem pole (analysts and associates) first for a few reasons. One, I feel a lot more comfortable speaking with younger IBers, closer to my age. I see it almost as practice for when I decide to contact VPs, MDs... If you make mistakes or freeze when talking to A&As, I think it wouldn't matter as much compared to doing the same thing with VPs&MDs, who ultimately have the power when deciding who gets the job or not. Also, I try to add in an everyday topic in a conversation (local sports if their from the area, their/your hobbies, etc...). Remember, fit is extremely important to IBs and being able to carry on a conversation about subjects other than work is a great way to show you will be a good fit in their environment.

Again, I'm experimenting as well, just my two cents.

 

How much do you suggest we know about the person we're contacting beyond what the alumni network tells us? Also, if we are asking for an informational, do we have to be experts in the field when we do call and ask? When it comes to IBD I'm ok, but I want to try and mail alums in other divisions too, and I don't know much about those divisions. Advice?

 

To add what tuaj asked, is it OK to make contacts at the same firm but in different groups? Also, is august too early to start contacting alumni (for SA internship)?

 

I wouldn't do it. Frankly I'm surprised at the volume of email people on this thread have been talking about. I save my emails for specific questions and "occasion-based" information, such as taking a new job and updating contact info, etc. Checking in is fine if it's very infrequent - heck, I even hate it when my friends back home "check in" with frequent phone calls.


http://ibankinglife.blogspot.com

 

With regards to how much you need to know about an alumnus, I would think as long as you know where they work and their position (both of which should be on the alumni website) that should suffice. I'm not really sure where else you could find any more information on them than this, especially if their A&As. The ideal situation would be to find some deals they worked on and ask questions about them. Again, this information is probably not very easy to locate.

I think alumni pretty much assume that we're not experts in the field, especially when applying for SA spots. However, you should have enough knowledge about the industry to ask intelligent questions and carry-on a good conversation. I would recommend reading the Vault report for the respective industry at least once. As you read through it, have some paper handy to write down questions to ask on things you don't truly understand or need clarification. I've heard mixed reactions about the reports, but if you are a newbie to IB, like I am, I found it was very helpful in creating a good knowledge base about IB.

I would think that making more than one contact at a firm would only help. What negative could come out of it? The more contacts the better, especially in this market.

I have been told that it is definately not too early to contact alumni. The earlier you start, the longer and deeper the relationship with the alumnus can get. Plus they will most likely be impressed with your headstart and enthusiasm (comments that I received almost every time).

Personally, I feel that sending out Thanksgiving/Christmas emails would be a little strange and unnecessary. Most likely you haven't even met the person. If anything, I would include a holiday greeting or wish at the end of an email if you happen to contact the person around a holiday.

Just a side note on contacting alumni via emails. I hope this is common sense but make sure you are extremely profeesional and quadruple-check for spelling, punctuation..etc errors in your email. That can't be stressed enough due to the detail-oriented nature of IB. End your emails with a professional salutation as well. The alumnus will usually respond in a more casual manner, but as is the case with attire, if there is any doubt always choose to be more professional.

Again, my opinions.

 

I always wrote and said who I was, that I was at their alma mater, and that I am looking to make the transition into banking and wanted their input regarding their experience.

They know why you're emailing, so just play the game a little bit.

And not to be a dick, but you have to spell check your emails and then have a buddy read them for you one last time to check for spelling/grammar. I am not the best speller, especially on here with no spell check, but I noticed some errors in your post and I just thought I'd bring it to your attention that you need to tripple check your emails before you send them out.

 

My success story is essentially that the alumni I contacted told me exactly how to ace an interview. There were specific points in interviews when I thought of the alumni and their advice on how to handle these questions.

A near-success story (though near-success doesn't cut it) is an instance where I really connected with a (non-alumni) associate after a single chat, and this associate rocketed me through her firm's interview process.


http://ibankinglife.blogspot.com

 

I mentioned that I don't have great spelling especially on here when I don't have spell check.

Remember, dude, I've already been successful at what you're trying to do. You're welcome for the advice although most of what you're asking is common sense and the process is built to screen out people who don't have it. Good luck.

 

Great comments so far.

Just got in touch with 2 Alumni from my school, one is in equity research and one at a boutique IB. I am calling them at the end of this week. I am a little nervous though. I don't want it to be awkward.

I have some quesitons lined up to ask them, but does anyone know of any hotspots that I should hit during our convo? Also, how far is to far on the first call, should I ask when their firm is hiring/ recruiting?

All help is appreciated. Thanks

 

Hey,

I've recently contacted some alumni from my school and most of the questions I try to cover are:

  • General questions about their specific job at the bank, if there's a specific industry they cover...
  • What type of qualities banks find to be attractive in a candidate.
  • What type of internships are viewed as more useful or substantial by the banks (this is usually where they will comment on the hiring/recruiting opportunities at their specific bank)
 

This is all pretty basic networking information. Read Carnegie's book or "Never Eat Alone" if you need more ideas.

I always give them a quick rundown of my undergrad, what school, what year, and then what I want. That's cold calling/emailing. It's a bit easier if you don't have to do that.

Plus, once you talk to one, it's likely that they may recommend someone else that is a better match for you to talk to. This extends your network, gives you a name to drop when you contact the next person (hence, no cold call), and lets you know that the first person probably doesn't think you're a dbag...at least not yet.

It helps to know what the person you are contacting does for a living, and googling them doesn't hurt to find out hobbies/clubs in college etc. I've contacted alumni and have been able to mention that I am doing the same kind of job they did right after graduation, was in the same club, interested in the same stuff, etc. The more you know, the better...though not creepy knowledge. don't ask them how their 8 year old neice is enjoying summer camp in Connecticut if you've never met the guy....

And if you find you have something to offer them, a client or a contact, that's even better.

And the post about not contacting people from time to time is ridiculous. You need to maintain any relationship that you created. It can be as infrequent as a quarterly/annual email to say hi, but you should do it.

If you don't like old friends calling you from time to time to check up, maybe you'd be a better fit living in a log cabin, making mail-bombs...

 

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[quote]The HBS guys have MAD SWAGGER. They frequently wear their class jackets to boston bars, strutting and acting like they own the joint. They just ooze success, confidence, swagger, basically attributes of alpha males.[/quote]
 

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