Networking Approach
Hi, since it is that time of year I wanted to ask you all if this was a good networking approach. I compiled a list in excel of all the alumni from my HS and University at various banks and since I don't have most of their emails I will be using this approach
- Connect on LinkedIn
- Contact the alumni that have accepted invitation
- Ask to connect in person or at the very least a phone call
Is this a good approach? Since, I attend a non-target and don't have the email addresses of the current bankers I will use Mailtester.com and hopefully get some responses. I will also contact bankers that have their information/emails listed on their company website. And finally I will contact high priority people (VPs and 3rd year associates) with the 15 emails I get with the linkedin premium account.
Is there anything I am missing? I am currently a rising junior and my school doesn't have OCR for any of banks. This summer I was able to secure an internship at a PWM firm (not BB) in a very small farm-town 3 hours outside of Chicago. Also, I am going to start with VPs then move to Associates and then move on to Analysts depending on the responses. Is it beneficial to connect with ex-banker (people that worked at BB then move to PE) ?
Thanks you
Solid approach.
Just remember, even if there are 10,000 no's you only need 1 yes to get laid (employed).
Don't connect before emailing them. Connect after you've had a call and when you send a thank you note. Don't inmail anyone because they don't check it. Use linkedin search to scout out other nontarget people to talk to. Add a friend that's gone through the process and look through his connections for each bank, those will probably be people who are receptive to speaking with you. Figuring out the email of BB people is very easy since the formats are virtually uniform.
Is there a reason I shouldn't connect with them on LinkedIn before a call or email? Does it send a wrong message or make me look too eager? I already sent some invitations to connect so I am kinda worried.
It's not a big deal. To me it doesn't make any sense to connect with someone unless you've actually met/spoken with them. Also these people don't check linkedin very often so getting people to connect will be difficult. Also they might just turn it down cuz there's no context.
I put together a master spreadsheet of 530 IB analysts that I sent connection requests to on LinkedIn. After waiting several weeks all of the concrete data is as follows:
38% of analysts will connect with you from a random request 4.34% of the 530 will respond to your message 11.46% of the ones who connected with you will respond 2% of those who responded, responded negatively, the rest were willing to answer questions
Do what you want with the data, but at very least it proves that hit rates are pretty low and you need to be playing a mad numbers game and ramp up volume if you plan to network into a bank this way. My response rate with alums and other school alums in my state has been almost 100% if you have their emails, so you don't need the same volume to connect with the same number of people in the end. Work hard, but also work smart.
This, 100%. It's incredibly awkward.
Completely agree. there nothing I hate more than receiving a blank invitation to connect from someone I don't know. I agree that the bar to connect on LinkedIn is pretty low, but you need to establish some sort of connection before connecting or at the very least, include a message with your invitation to connect.
Is networking with HS alumni acceptable? I've never heard it mentioned before.
Don't see why it would not be. If anything, attending the same HS is a much stronger link than attending the same college with 1000s of kids.
I suppose. Is this under the condition that you were friends with the individual in high school?
What type of people are you guys emailing from the firms ? I'm not in IB but curious.
Recruiters from said firm? Associates? VPs?
Associates and VP's that were alumni. I think I am going to start emailing recruiters as well.
My tactic has been working very well so far I have dinner with a Blackstone Partner this week, had a calls with two guys in BB during the week by personalising the connection request. I delete the "Hi I'd like to....." and say my name is X , I'm studying at Y and really interested in getting into XX. I was wondering if you would be interested in have a 10 minute chat about your own experience of breaking and day to day work.
If they accept the request I send a follow up say as mentioned in the request would you be up for a call/coffee. I send out hundreds most don't accept but those 1 in 50 that do have counted and will be very valuable contacts going forward. It's all about the perseverance!!!
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