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Non-Target, Cold e-mailing to Multiple BB / MM SA Offers -- Yes it can be Done!
 

Whiskey5's picture
IB
(Gorilla, 700
 
Points)
 on 2/14/12 at 2:07pm
1282247354-whiskey.jpg

All,

I've been reading WSO for quite a long time, but this is my first and perhaps my last serious post about myself.

A bit about my background: I am a junior studying finance at a 200% Non-Target university (yes, there are baby sitting positions on my school's career site, that's how non-target it is!).

I originally wanted to work for the federal government, but after couple of internships with a very well known Senator and a lesser known Congressman, I decided it was not for me. I had a friend pull a CapIQ screen of all broker/dealers in NYC and started cold calling right away.

I landed my first M&A internship at some bull shit no-name boutique and was literally cold calling high net worth clients asking if they wanted to invest in $2mm deals. It was bull shit, but it builds character and helps you build your story when you do informational or first round interviews.

Second, and a more relevant internship was with a decent (at the time) boutique in FIG. No offense to you FIGers, but that shit sucks. I learned a ton, but it still is boring. I built a great relationship with a senior VP but he is no longer a banker.

Finally, I had my most recent internship. This time around, it was no joke. I was actually working on live deals, building real models, and talking to CFOs explaining my models. Shit got real. Two weeks in, I got chewed out for not formatting a spreadsheet the way a MD wanted. I thought they were going to tell me to pack my shit and leave. Instead at the end of the chew out, he sat me down and explained that he really cared about my career development and wanted to see me do well. I'm still not sure whether this was true or just for him to save face, but whatever.

At the end of my third banking relevant internship, it brings me to the make or break point: Junior SA recruiting.

When I started to reach out to new people, many essentially told me to fuck off, but others gave me a hand.

I met and spoke with many successful bankers via means of introduction and referrals including many of Ken Moelis' deputies and Frank Quattrone. Yes, the famous Quattrone and others.

While I was networking with the hard-hitting bankers, I also cold e-mailed many Senior Associates and Junior VPs. I knew they were the ones running the campus recruitment process, so my e-mails were very brief. I included my GPA, relevant internships, and why they should hire me.

My e-mails were VERY good and still, I was only getting about a 40% response rate. Cold e-mails led to responses, responses led to informational interviews. Informational interviews led to more informational interviews, and then, the first round phone interview. At one BB, I had 5, yes, FIVE rounds of informational interviews before they officially put me into the process to be considered for a first round.

Having relevant experiences on your resume, especially transaction experiences can be a curse, so you have to know technical questions cold and be ready to talk about the deal(s). Some of the questions I got were probably more appropriate for a first year lateral hire rather than a summer intern.

In the end, I interviewed at the following banks:

Citi
CS (HQ and two regional offices)
BarCap
DB
Rothschild
RW Baird
BMO Capital Markets
Jefferies

Of all the shops above, Rothschild was the only one that I did not make it to a super day and strangely enough, Rothschild M&A was actually my first choice.

Of all of my "getting through the gatekeepers (HR), CS was the most interesting. One campus recruiting lady essentially told me to stop annoying / calling her. In retrospect, I should have told her to fuck off on the spot, but I refrained from doing so. Instead, I went above her head and e-mailed actual bankers that got me in for the first round interview.

And of all of my interviews, the most memorable one was the super day at Baird Chicago. One of the VP looked at my resume and asked me, "what the fuck is University of xxxx / xxxx University, and how did you get here?" I knew from that point on, no matter what I said, I would not have gotten the offer. So I told him I took a cab from the hotel to get there. No smile, no smirk, you could smell the tension in the room. Whatever, dickhead.

Its a very long post (maybe WSO longest post?), but I want to mention the select few I met here on WSO whom I consider friends.

Flake, WallStreetOasis (Patrick), Determined, WellPlayed and Febreeze (yes, even you two), Gnome, Nouveau Richie, and some other guys I forgot.

In fact, Flake was actually the first person to know about my decision.

Hope this write up is a bit of inspiration for some of you all who are trying to break in either as a SA or first year analyst. I promise, it is possible.

I'd be happy to provide guidance / advice to those still trying to break in, but do not ask me to share my 'networking' secrets. If everyone sounded the same with the same pitch, we'd sound like robots.

Cheers,
Whiskey

Tags:
M Friedman's picture

First off, what you did takes

(King Kong, 1,007
 
Points)
 on 2/14/12 at 2:52pm

First off, what you did takes more than two balls. I think even the experience of just cold calling makes a huge difference, and at the same time can be extremely humbling. It was not really clear in the post but did you get an offer?

See my WSO blogs here.

Whiskey5's picture

I guess I missed the most

IB
(Gorilla, 700
 
Points)
 on 2/14/12 at 2:55pm

I guess I missed the most important part in my post, lol.

Yes, I did get multiple offers.

Flake's picture

(No subject)

ER
(Neanderthal, 3,574
 
Points)
 on 2/14/12 at 3:00pm

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.

blastoise's picture

kill it gratz op

O
 
Points)
 on 2/14/12 at 3:04pm

kill it gratz op

rothyman's picture

Post made me wet. no really,

HF
(King Kong, 1,163
 
Points)
 on 2/14/12 at 3:07pm

Post made me wet.

no really, very impressive and good for you. glad to see more people with balls on wso.

APAE's picture

This is what more people need

(Neanderthal, 3,660
 
Points)
 on 2/14/12 at 3:14pm

This is what more people need to emulate. Congratulations to you, well-earned.

A lot of people do certain things to add days to their life. I do things to add life to my days.

nauprillion's picture

Congrats!

ST
 
Points)
 on 2/14/12 at 3:18pm

Congrats!

Hoogerman's picture

how did you acquire

O
 
Points)
 on 2/14/12 at 3:23pm

how did you acquire everyone's email...linkedin? Or people's name.

Where did you start actually?

I banana back

Hoogerman's picture

also how did you ask for

O
 
Points)
 on 2/14/12 at 3:24pm

also how did you ask for referrals?

I banana back

duffmt6's picture

Congrats Whiskey.

IB
(Neanderthal, 2,312
 
Points)
 on 2/14/12 at 3:29pm

Congrats Whiskey.

"Social cohesion and puritanical morality place roughly on my list of concerns between whether I'll pick up jock itch at the gym this week (not likely, since I don't go the gym) and whether it'll rain in Christchurch, New Zealand next Tuesday."
-Eddie

Whiskey5's picture

Thanks all for the kind

IB
(Gorilla, 700
 
Points)
 on 2/14/12 at 4:05pm

Thanks all for the kind words!

speakingsputnik's picture

Well if this doesn't put shit

IB
(Monkey, 39
 
Points)
 on 2/14/12 at 4:18pm

Well if this doesn't put shit in perspective I don't know what does. Congrats!

KNICKS020's picture

...

(Baboon, 155
 
Points)
 on 5/9/12 at 8:15pm

...

BigBucks's picture

Is anyone else wondering how

IB
(Gorilla, 509
 
Points)
 on 2/14/12 at 4:38pm

Is anyone else wondering how this guy got internships w. congressmen and senators going to University of Bumfuck nowhere?

duffmt6's picture

BigBucks wrote: Is anyone

IB
(Neanderthal, 2,312
 
Points)
 on 2/14/12 at 4:42pm
BigBucks:

Is anyone else wondering how this guy got internships w. congressmen and senators going to University of Bumfuck nowhere?

No, not really.

"Social cohesion and puritanical morality place roughly on my list of concerns between whether I'll pick up jock itch at the gym this week (not likely, since I don't go the gym) and whether it'll rain in Christchurch, New Zealand next Tuesday."
-Eddie

SECfinance's picture

BigBucks wrote: Is anyone

IB
(King Kong, 1,414
 
Points)
 on 2/14/12 at 5:06pm
Nouveau Richie's picture

Well done Whiskey, you've

IB
(Neanderthal, 2,778
 
Points)
 on 2/14/12 at 8:24pm
shynic89's picture

Congrats man! This indeed is

IB
 
Points)
 on 2/14/12 at 8:42pm
leveRAGE.'s picture

congrats dude--love hearing

ST
(King Kong, 1,161
 
Points)
 on 2/14/12 at 10:00pm
Vancouver Canucks 2011's picture

Silver Banana for you.

IB
(Orangutan, 305
 
Points)
 on 2/14/12 at 10:28pm
Febreeze's picture

GATDAMN WHISKEY! I thought

(King Kong, 1,151
 
Points)
 on 2/15/12 at 12:30am

RIP WSO Chat.

Whiskey5's picture

Vancouver, thanks for the

IB
(Gorilla, 700
 
Points)
 on 2/15/12 at 12:11pm
Wasserstag526's picture

LMAO I did the same thing as

CF
 
Points)
 on 2/16/12 at 8:26am

'We're bigger than U.S. Steel"

neanderthal's picture

Wow, what a crazy few years

IB
(Baboon, 101
 
Points)
 on 2/16/12 at 7:52pm
prospie's picture

And of all of my interviews,

(King Kong, 1,676
 
Points)
 on 2/17/12 at 11:32am

Financial Modeling Training
Guide to Finance Interviews
Banking Resume

BCbanker's picture

where did you end up?

IB
(Gorilla, 633
 
Points)
 on 2/17/12 at 3:36pm
Bernankey's picture

So did you get an offer?

ST
(Gorilla, 613
 
Points)
 on 2/17/12 at 3:44pm
Whiskey5's picture

Haven't officially accepted

IB
(Gorilla, 700
 
Points)
 on 2/17/12 at 4:24pm
ah's picture

pshhhh i got more ballz than

ST
 
Points)
 on 3/21/12 at 3:03am

I don't accept sacrifices and I don't make them. ... If ever the pleasure of one has to be bought by the pain of the other, there better be no trade at all. A trade by which one gains and the other loses is a fraud.

orangebull's picture

Just wondering if you could

 
Points)
 on 3/23/12 at 1:43am
Wegener's picture

Inspirational story. Love it.

(Chimp, 6
 
Points)
 on 5/23/12 at 1:46am
Wegener's picture

Inspirational story. Love it.

(Chimp, 6
 
Points)
 on 5/23/12 at 1:46am
Eurodealer's picture

Am I the only one wondering

O
(Baboon, 117
 
Points)
 on 6/1/12 at 7:14pm
leveragedbanker's picture

Did you really have a 3.2

IB
(Monkey, 40
 
Points)
 on 6/7/12 at 1:01pm
Whiskey5's picture

leveragedbanker: Did you

IB
(Gorilla, 700
 
Points)
 on 6/9/12 at 12:26pm
JimmyDnFFX's picture

I say "good on ya, Whiskey!"

O
(Baboon, 137
 
Points)
 on 7/24/12 at 10:39pm

80% of life is just showing up

-Woody Allen-

atlaswaved's picture

Very inspiring stuff, thanks

(Monkey, 58
 
Points)
 on 7/24/12 at 10:44pm
Vin917's picture

Congrats, definitely an

AM
(Monkey, 45
 
Points)
 on 8/1/12 at 5:36pm
soccerlife11's picture

Great job man! Great story!

IB
(Monkey, 39
 
Points)
 on 8/1/12 at 5:44pm
blackberry89's picture

Congrats! Very inspirational

 
Points)
 on 8/3/12 at 11:29am
BigTalkinWalker's picture

can't you get that

 
Points)
 on 5/6/13 at 1:24am

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