I go to a semi-target university and a lot of people tell me that networking is the way to get into IB. How do you network, though? I used to think that networking was only using your immediate connections to get something you want (e.i family and friends).
My question is how do you network assuming you have absolutely no family and friends who could help you get placed somewhere?
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I'd recommend putting down the few bucks of cash and buying the WSO networking guide.
It's a better manual than anything I've ever seen from career coaches, career services offices, headhunters, military transition offices, or anyone else who makes their living off of job searches.
You're right to an extent that your family and friends are your network. You should make your intentions loud and clear with your friends and family because you never know who their fraternity brothers were or what their childhood friend is doing. Just tell them that you're looking to get into IB and that you're curious if they know anyone that works on M&A or Capital Raising. It's important you do this because these people are going to really fight for you.
Also, cold email your alums. They should be responsive and willing to speak to you.
This is the way I networked: I used my fraternity, organizations on school and alumni of the business college at my school to get in. I'm fortunate to have a fraternity who has multitudes of alumni on the street, so this was my biggest resource. I talked to probably 50-60 guys who were a huge help in the recruiting process, with many of them pulling me through to first rounds. My school and organizations alumni were less helpful, but still aided me nonetheless. Also, see if absolutely anyone you know or are related to have any sort of connection to someone who works on wall street. I am lucky to have a Dad who works in finance, and hooked me up with some unreal connections, but I guarantee someone you know or are related to knows someone who works in finance. It's all about developing relationships and getting your contacts to refer you to other people. Even if your only resource is someone who works in some other field within finance (Wealth management, Asset Management, etc.) I guarantee that person knows people who work in IB or who can at least point you in the right direction.
At the end of the day, it's all about exhausting every possible resource and organization you have access to, and then working your ass off in the process.
Thank you for the response. When you say that you talked to 50-60 people who helped you, that sounds very intimidating. If it makes a difference, I am on the west coast and intend to stay in the west so I know its not as competitive as NY.
I should clarify, all 50-60 didn't necessarily help me, but out of that count, probably 6-8 went to bat for me when it came around to their respective recruiting seasons. I talked to people on the west coast, from texas, chicago, canada and NY, just try to spread a net as wide as possible. You never know, the person you talk to from NY could have a good buddy working on the west coast he could connect you with. That's how networking works, just keep asking your connections for people to talk with, the more the better.
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