MM Networking
So this summer I networked with a recently graduated analyst at a top MM (think Harris Williams/HLHZ/etc.) who just finished his 2 years and was on his way to PE. He was really nice and helped set me up with a phone interview with 2 of the recruiters at the bank, the phone interview went very well. The problem is, I am just starting my sophomore year now so I don't really know how I should approach this relationship in the future. I may as well try to submit my resume for SA consideration for next summer but that would be when I was a sophomore, not a junior. Or should I just keep in touch with the recruiters every now and then until this time next year when it would be more useful? Would they consider someone for an SA spot in their soph-junior summer rather than junior-senior?
It's possible to get IBD internships as a sophomore. Not common, obviously, given that the point of internships from the perspective of the bank is essentially to provide a 10 week interview process to vet potential full time candidates, but there were a couple kids that I went to school with that found SA's at solid banks as sophomores, all of them through networking.
All in all, it can't hurt to ask to be considered for SA slots as a sophomore; the worst they can do is say, "No, we're actually not looking at sophomores." at which point, you just hit up the same guys again, and if they liked you, they'll give you a solid shot.
If you don't apply, you have a 100% chance of not getting the position as a sophomore.
thanks. I will definitely apply. should I just send the recruiters I talked to a quick email saying that I enjoyed talking to them earlier, am applying and lookign forward to hearing from them? should I include a cover letter? any advice on the phrasing of the email? thanks.
MM IB Networking (Originally Posted: 10/09/2013)
I am in the process of networking/interviewing for summer analyst positions. I have an interest in the middle market, and have almost exclusively built my contacts and efforts in that area.
Although I have contacts at a few firms, I don't want to put all my eggs in that basket. I have tried to reach out to a number of other top/middle MM firms, but can't find a way to get my resume in front of an actual person. I am from a large state non-target, but have, according to the people I've talked with, a competitive resume with previous capital markets internships, good GPA, ECs, etc.
Does anyone have any advice on how to initiate contact with firms where I don't know anyone? I am confident in myself once I get attention, just not sure how to do so. The website resume drops and HR emails seem to be a dead end, and I want to contact Analysts/Associates as opposed to the MD's with emails listed on the websites. LinkedIn is good for locating Analysts, but at that point do I just copy the MD's email format with the analysts name?
Thanks in advance for any help! Longtime lurker that really enjoys the contribution that a number of people make to this site.
Does your school have any alumni that are at these firms? Start from here and include the school in the subject line of the email. Secondly, check LinkedIn to see if anyone you know knows someone at these firms. You don't need to ask for an introduction, but say - for example - "Hi Bob, I saw that you know Fred at XYZ. Would you be willing to see if he would be willing to chat with me."
Lastly, with respect to contacting the seniors at the firm, its really hit or miss. In my experience, many MDs are more than willing to meet or at least speak with you (it truly is a nice break in the middle of the day), especially at MM firms where there aren't armies of people watching your every move. Although they can provide sage advice, they are typically a little more removed from the hiring process (they will interview you if you get a second round) it is typically directors or senior VPs that run the recruiting process.
What I did in the past with mediocre success was start with more senior people (I would start at the director level) and if you don't get a reply, move down the chain to an associate/analyst. If you blast the entire office with a resume/networking request, people will likely realize it. If you do it methodically, you seem slightly less creepy.
This jackoff stole my username.
And my picture... I think we'd probably get along.
Thanks for the info. I'm probably being too considerate in thinking that my email to senior level employees will bother them. Rather have an awkward initial interaction and an internship than no internship.
Mike Bolton, change your name or I will fight you.
your resume has little to do with whether you get an interview or not, especially from a non-target where networking is key
sounds like you either have not put in enough effort to network or not making a good impression when you get the chance to do so
Just don't be awkward. We had a kid email the president of our firm with a bizarre note about how he was considering our firm for FT recruiting (we don't generally recruit out of undergrad). Get this - he CC'ed me, one of the other analysts in my office, and a 3rd random analyst in one of our regional offices. Not a good strategy.
My advice - reach out to the mid to upper level guys with a well thought out note. Ask them to meet in person or do a phone call, and if you can, find some commonality between the two. Worst case scenario: a deal is hitting the fan, they are stressed out and they ignore you. Best case, you meet them for a chat and hit it off.
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