Is it WRONG/ILLEGAL to build personal networks with your company's clients?!

I'm meeting Goldman Sachs Asset Management tomorrow through a private client meeting (I'm interning at a consulting firm). Would it be wrong/wierd for me to email those people personally at home through my own private email? The people coming include senior portfolio managers and directors - it seems like a good opportunity to build a network for full-time recruitment...but at the same time, some people told me you should not abuse your firm's rights and contacts for your own use since they are giving me business cards solely because I am representing the firm I am at now.

What would you do?

Note: I am currently an intern at my firm..and the reason why I felt that I need to do this is because GS never visits or recruits from my school. I've never encountered an opportunity like to even meet someone frmo there. If you do agree that I should do this, how should I email them in a way to not make me initially look desperate/aggressive?

 

I wouldnt do it if I was in your situation, I think that the GSAM people would see what you are doing and would be reluctant to hire you because in their mind they would think that you would do the same thing if working at GSAM and meeting with their clients and trying to get a better role behind their back. I would stay away.

Chances are the people you are meeting with from GSAM have nothing to do with the recruiting anyway.

The GS recruiting process is very formal at your level. So I would advise against it.

 

Keep in contact with them during your internship, but do not specifically ask them about recruitment possibilities. Once you're done with your internship, you should have had some good communication with your contacts, and then you can consider asking them if they know of any positions you might be able to fill.

 

Definitely be impressive during the meetings - it'll come up at some point that you're "the intern" and after that seem really enthusiastic about whats going on and just smile like a dumbass.

Then, you should just keep in touch if you can.. this is a little bit awkward so don't push it. Then, after the internship, explain how you liked gsam and what your views on ft work for you should be, and see if they can put you in touch with the right people.

If they thought you had the right stuff when you met them initially they will definitely email a recruiter your cv and try to set up an interview.

 

I really wouldn't do it at your job, people can see through you easily and its not the first time GS has met with smaller firms and had even the FTs ask for job openings. It is very unprofessional and GS is big on professionalism. If the GS seniors are dicks they can even bring it up jokingly to your manager or firm later on (if they have more contact with them) that their interns hate working there. Its happened before and the result isn't pretty. (Story about Bear Stearn interns trying to get into GS).

Going into a spiel at the end of your meeting about how you like THEIR job is not recommended IMO. I don't know exactly what you'll be discussing or who you'll be talking to but it can definitely rub people the wrong way because they are there to do their job and so should you (instead of trying to find a new one).

I think the best way is to just do your job and be friendly and AFTER your position ends perhaps send them an email saying how you loved your job (consulting) and keep in touch later to apply for the FT next fall.

 

Clarification - I was not planning to immediately discuss recruitment opportunities..I was thinking of just building a relationhip and asking them about their life, etc, and eventually being able to ask them about recruitment..

Update - I met with them today, and the consultant basically implied that I shouldn't give any opinions or speak during their discussion..So all I did was introduce myself in the beginning...The managing director and vice presidents asked me about where I studied etc, gave me their business cards and that was it...I'm worried that if I email them later they might not remember me. I don't know how to not make this awkward =S

I really want to go through the formal recruitment process but unfortunately without networks I am unable to be even be noticed...This is really my only hope but I don't want to piss my firm off.

Their pitch books for us included all their bibliography of their past and credentials...I was thinking, would it be a good conversation starter to ask about their inputs on something like their designations, or masters degree and whether they found it helpful? Or would it be considered abusing confidential information?

 
baystreetbanker:
Or would it be considered abusing confidential information?

Do you need a cheerleader shouting encouragement at you? Be aggressive bud. You have no other chance and therefore, nothing to lose

 

Do it. Just be smart about it...as a junior person the chances of your email not sounding ridiculous and actually being effective are really very small, but clearly better then 0. 99.9% of the time all that will happen is that the person you email will roll their eyes and hit delete or maybe politely tell you that they cant help. The other .1% is split evenly between them calling your current job, informing them of your clearly inappropriate email, and trying to screw you over on one hand and GS putting you in the hopper to get an interview there on the other. So go for it but understand the odds of it leading to anything (positive or negative) are close to zero. As a disclaimer, if you are an attractive female the odds are much better that this approach will work.

 

So what would be my best bet to lateral to a larger company, if I had 7months of work experience? I know that there are tons of graduates out there that are looking but at the current job market, I would assume, anybody that does off-cycle hiring would put somebody with experience before any 2010 grad. I might be totally off, but isn't hiring starting to pick up? How badly am I underestimating the number of experienced analysts looking for a job right now (I am not talking about the ones that got pissed about bonuses and went to a different company, because they just move around and supposedly more analysts are needed altogether)? Should I start calling headhunters or apply to BBs online? Any thoughts?

 
Financier4Hire:

The deal is with the PE and one of the PE's portfolio companies

- What exactly does that mean ? You work at a company that's being evaluated by the PE ?

I'm guessing it's a sell side mandate for a private equity firm's portfolio company. Either that or a buy side mandate for an add-on acquisition.

Would be interested in responses as well.

"For I am a sinner in the hands of an angry God. Bloody Mary full of vodka, blessed are you among cocktails. Pray for me now and at the hour of my death, which I hope is soon. Amen."
 

Depends on the structure of your group, if you have a lean group with direct interaction regarding the client, just keep in touch and change over the conversation to a more informal relationship, asking some questions before the fund goes to start recruiting.

Something to always keep in mind is the relationship between the fund and your senior staff. If you were ever to move, they would probably talk with your group head and/or whomever generated the relationship in your group. I've also seen some analysts ask their group head for a recommendation or introduction to certain PE funds.

Play the long game - give back, help out, mentor - just don't ever forget where you came from. #Bootstrapped
 
duffmt6:
Financier4Hire:

The deal is with the PE and one of the PE's portfolio companies

- What exactly does that mean ? You work at a company that's being evaluated by the PE ?

I'm guessing it's a sell side mandate for a private equity firm's portfolio company. Either that or a buy side mandate for an add-on acquisition.

Would be interested in responses as well.

This is correct

 
seamlessftw:

Sometimes it's tough as the analyst, but try to get some visibility (go to meetings, speak up on calls) when appropriate. Make a great impression on whomever you interact with, even if it's only the associate. This includes making sure all of your numbers are right.

n1 seamlessftw gr8 Advice. Always

"so i herd u liek mudkipz" - sum kid "I'd watergun the **** outta that." - Kassad
 
seamlessftw:

Sometimes it's tough as the analyst, but try to get some visibility (go to meetings, speak up on calls) when appropriate. Make a great impression on whomever you interact with, even if it's only the associate. This includes making sure all of your numbers are right.

Thanks for the advice. I'm the only analyst on the transaction but it's a pretty involved one and have had the opportunity to drop and pick up some cards and shoot the breeze with a few of the guys. What about going forward? Obviously this is a relationship to foster for when recruiting happens, but what types of communication is appropriate once (if) the deal closes in a few months?

 
brownbear1257:
seamlessftw:

Sometimes it's tough as the analyst, but try to get some visibility (go to meetings, speak up on calls) when appropriate. Make a great impression on whomever you interact with, even if it's only the associate. This includes making sure all of your numbers are right.

Thanks for the advice. I'm the only analyst on the transaction but it's a pretty involved one and have had the opportunity to drop and pick up some cards and shoot the breeze with a few of the guys. What about going forward? Obviously this is a relationship to foster for when recruiting happens, but what types of communication is appropriate once (if) the deal closes in a few months?

grab a quick cffee - try keeping in contact every few months - holidays esp. good 4 this snce excuse to wish them happy new yrs

"so i herd u liek mudkipz" - sum kid "I'd watergun the **** outta that." - Kassad
 
mudkipz:
brownbear1257:


seamlessftw:

Sometimes it's tough as the analyst, but try to get some visibility (go to meetings, speak up on calls) when appropriate. Make a great impression on whomever you interact with, even if it's only the associate. This includes making sure all of your numbers are right.

Thanks for the advice. I'm the only analyst on the transaction but it's a pretty involved one and have had the opportunity to drop and pick up some cards and shoot the breeze with a few of the guys. What about going forward? Obviously this is a relationship to foster for when recruiting happens, but what types of communication is appropriate once (if) the deal closes in a few months?

grab a quick cffee - try keeping in contact every few months - holidays esp. good 4 this snce excuse to wish them happy new yrs

Agree with this. Also, if the deal closes, hopefully you will need to do design and logistics for the deal toy. That process can take a long time and is another good excuse to stay in touch.

 

depends, is it a 1 on 1 relationship like where you are the go to person for the client? or, is it more like you're part of a team that works with a company and you're a small part of the "advisor" part of the relationship.

I'm thinking specifically of something like a prime broker operations analyst wanting to work for a hedge fund, that wouldn't be out of line, but if it's like someone's financial advisor or RE property manager wanting to jump ship, that's completely out of line. make sense?

 

I would say that this would be a good tactic, if you were no longer working in the position you are in and are searching for something else and still had their contact information. Since you are still working, I wouldn't use them for your job search.

make it hard to spot the general by working like a soldier
 

Is the company working actively to fill a position or do you just want to put your name out there for future reference in case something comes up? I wouldn't bring this up directly to them if your acting in an advisory capacity, but you could bring this up in a "long term goals" discussion. If you have a good relationship with this person they should catch the drift

 
Best Response

There really isn't a macro answer to this. The other replies are spot on. It completely depends on your role with regard to the client on an operational level and your relationship with that client on a personal level. If you're the junior fourth member of the team and you don't interact with them much beyond processing orders (or whatever) via brief calls and emails, it may be awkward to bring it up. Completely on the other side, if you're their go to man, you spend half the day on the phone or in meetings with them and you regularly grab drinks with them, then go for it. If you're the former rather than the latter, try to move towards the latter.

Also figure out if it's a common move for someone in your position to move to the client's side. I don't know what business you're in, but in my field it's very common for IB'ers to network with and move to client PE firms and there's very little awkwardness about it because it's expected and you don't have to be beer buddies with someone to make the ask. They've built the skills to make the transition. If someone from the third party firm who does our marketing material asked for a job as a PE associate on the investment side (and not as an in-house marketing person) it would be awkward because I'd have to say no (because they don't have the skills) and continue to work with that person at their marketing firm. The confidentiality issue with co-workers runs along these same lines. Very few senior people at the IB are going to be shocked that an analyst/associate is networking with and trying to get a job in PE: it's completely expected. The marketing person's superior, however, would probably be pissed off that they're going to mess up the overall business relationship.

 

Very helpful commentary all around, thanks. I'm the #2 guy on the team--not the head point of contact but interact fairly regularly with clients. Generally am not the head shot-caller for the team but am authorized/confident enough to do so when senior partner is busy. My question was more concerned with a "dropping a hint" of interest approach, so it sounds like I either need to foster a much more personal relationship with my point of contact or wait until I am no longer associated with the team.

 

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I used to do Asia-Pacific PE (kind of like FoF). Now I do something else but happy to try and answer questions on that stuff.

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