Reaching Out to Recruiters/Headhunters
I understand that it is still quite early to be considering this, but I was curious about the process of reaching out to headhunters early on. I'm a first year analyst at a BB in ER, and was wondering if it would be a good idea to reach out to/network with some recruiters just to touch base and get my name out there. Does this make sense at this point, or am I better off waiting until I am closer to finishing my first year?
My experience was less than positive, but maybe you'll have better luck. I started reaching out to them after being at my shop (BB ER) for ~18-24 months. Most of them didn't give me the time of day and quite a few said that if I didn't have a buyside job that they couldn't help me (kind of a catch-22 there). Having said that, if you're coming from a better BB than I did, you may have better luck. Based solely on my experience, my guess is they won't give you the time of day, but it probably doesn't hurt to ask if you have any friends in the recruiting business or specific connections you can use.
Reach out within your first year but well before summer BC all those recruiters go away bc their clients go away then. You probably want to reach out Feb / March for HF positions. Unlike HFs there isn't a typical recruiting cycle but there tends to be more movement around year end bonuses for firing / switching jobs.
Sweet, appreciate the input.
Do you guys happen to know of any west coast recruiters specifically, or a place I can look for some?
Carter Pierce is W. Coast based. Not sure if they slant more PE/HF. Oxbridge and Dynamics will recruit for a decent amount of W. Coast positions and have offices out there despite NYC bias. They both set me up w/ multiple W. Coast interviews, and I admittedly had an E. Coast bias.
Great, really appreciate it. Out of curiosity, what was your path into the industry?
I recently reached out to a headhunter just to cover my bases for when I graduate next spring. She said that she should be my last resort and that hopefully I won't have to use her, for what it's worth.
if you want to bounce from a BB to the buyside...the typical route is
IB 1-2 years and then bounce ER - 4-5+ years and then bounce, but only if you have a good track record. Trader - 2-5+ years, but again, only if you have a good track record.
ER takes more time because the buyside gets to read your research reports / watch your recommendation track record over time (which is what you are advertising)....vs in IB, you are just crunching numbers / modeling but not making investment decisions. Most ER analysts are actually not very good...so just because you have this job does not guarantee a move to the buyside.
The ER career path is into making investment decisions as a PM. If you just want to be a support analyst for somebody else's investment decisions, then you should have gone the classic IB route.
Both Research and Trading are implicitly a longer/slower path to the buyside. However, once you get to the buyside, the comp potential is much greater...because you are going straight for the PM role, vs just being an analyst.
In research, your immediate goal should be to 1) get published so that buyside clients can read your individual views, and be aware that you exist 2) build a shadow book track record...essentially, you are paper trading on a longer time horizon than average "traders" because you can only publish trade ideas every so often.
This track record is essentially your interview...buyside funds will read and track your trade ideas and your performance history over time (you should publish your trade ideas over time with a model PnL, based on a 100mm portfolio)...and after 2-4 years of good performance / track record, then you will be in a position to reach out to funds / headhunters with that track record / body of research work in hand.
So, at the end of every research report, you should have a table with all your trade recommendations over time (entry date & price - exit date & price - assumed PnL on 100mm portfolio) For open positions, list the securities closing price for that day, and the mark-to-market PnL.
You are interviewing for a PM position...so you have to act like a PM...if you want to eventually be offered a position as a PM.
Thanks for the input. I was thinking more of an investment analyst role vs. PM, but the way you put it definitely makes sense to me. I assumed a couple years in ER and then move to a shop focused on fundamentals since the work is presumably (somewhat) similar, especially when compared to what I would be doing in IB.
unfortunately, since you are in a position where the results of your work (your research and analysis) are published, the buyside gets to choose to read your work output over time, and then decide if they want you or not. If you were just an IB analyst/associate, your work product would not have the same visibility, but it is assumed that most IB analysts/associates have similar experience (until the actual interview).
The typical recruiting process for Research to the buyside is to actually publish unique research with good results, the go visit and talk to clients (after you publish a number of great reports, sales will start asking you to visit clients). This takes both time, and actual performance.
So, the question is...have you actually had any good performance yet? Have you been publishing both your analysis and your trade recommendations? If not, then you need to start doing that. Come up with a model portfolio (assume 100mm), with clearly defined investment thesis for both positions as well as trade entry / exit.
There really is no other alternative...just espousing on risks and potential surprises is not good enough...at the end of the day, in any security, you either, buy, sell, or are flat.
To be considered a "rockstar research analyst" you need to do more than publish an opinion and price targets. You need to publish TRADES, with both STOP levels and EXIT price targets if you want to be taken seriously by the buyside. Not all research analysts do this...but then most of them also don't get to go to the buyside.
If you just want to analyze companies, then you should go into IB. Research is a much "easier" job than IB in terms of pressure and day-to-day work product (which i'm sure you know)...but then the output is very different...because Research is really more closely aligned with Trading than it is to IB, but without the actual PnL pressure of a trader. If you think and publish like a trader, you will find a much more receptive audience.
PE headhunter here.
It doesn't hurt to reach out to recruiters (most will accept connecting on LinkedIn even if you've never met, as long as you work for a BB or elite IB boutique). That being said, I'm asked almost daily by IB analysts whether they can have a coffee or jump on a call with me - while I'd love to, I usually have to decline. The reason is simple: what my clients require is extremely narrow and focused, and the odds that you have exactly what they're looking for are quite low. I need to make the best use of my time, and spending it with candidates unlikely to match my clients requirements is not the best strategy. Each executive search firm has established relationships with a comparatively small number of clients. To maximize your chances of success, you should be connected with as many headhunters focused on your interests as possible. My best advice: be on headhunters radar (i.e. connect on LinkedIn or send them an email) and let them come to you. While touching base with headhunters once a year or so is probably a sound strategy, shaking the tree constantly will ultimately annoy them and possibly lessen your odds of them reaching out.
The fruit will fall when it's ripe.
Good luck!
When to reach out to HH's (Originally Posted: 03/25/2017)
I will be joining a lesser recognized but prestigious boutique for FT this summer (think HL/ROTH/GH). I have my sights set on recruiting for upper MM or MF private equity - essentially the biggest fund attainable for me. With the slight handicap mentioned above, I am planning on being very aggressive with recruiting to get looks that might not naturally come to me.
Having said that, I've been thinking about starting to reach out to headhunters throughout the spring before I start work to introduce myself, tell them my goals, etc. Would this be a good move or would I come off as being way too intense? I want to be on their radar but am scared that this to backfire and work against me. Would welcome any and all opinions and advice.
Thanks in advance.
Let the headhunters email you first - trust me, everyone (ie recruiters, PE guys) already finds it pretty weird that on cycle recruiting happens so early nowadays. You don't want to be that kid whose reaching out to headhunters before you even start work.
Go into your introductory meetings and come across as (1) certain in what kind of PE you want (size, sector, type of associate experience) and why; (2) knowledgeable about the PE landscape; (3) polished and getting a good experience at your bank so far; and (4) likable and not boring. This way, you not only won't just be another name on their listserv who receives the standard headhunter mass emails, but a personality they actually remember and feel like they have a decent relationship with. The hope is that when a fund like LG&P comes knocking, the first thought by their recruiter will be "Hey, there was that kid from HLHZ/Roths/GHL who wanted to work with a fund that invests in companies of $X size, seems like s/he is really interested in retail and definitely has a standout personality - I'll put him/her in front of LG&P and see what happens."
Reach out to Recruiters (post-IB) (Originally Posted: 01/12/2012)
So I am interested to hear from anyone who has had experience reaching out to recruiters either during or after their time as an IB analyst. I know a lot of the analysts at the BB firms have the recruiters directly reach out to the, but what kind of stories does everyone have sending e-mails, cold-calling, etc. the recruiting firms?
If you were to reach out to them, what would be the best way to do it? How would you structure an e-mail or message? I know some of them have resume submittal links on their sites, do those work or do you have to still reach out in person?
Also does anyone have advice one way or another on firms that have been more or less helpful to them?
I was in a small product group (but at a top BB) that got overlooked by a couple of the recruiting firms. I just asked analysts in other groups for the contacts at the firms I didn't hear from. I emailed them my resume with what I was looking to do, and they were more than happy to work with me. After my initial email, they usually asked to set-up a call/meeting.
I'm not sure if they'd care whether or not you were still in an analyst program, but I'd recommend doing it while you were still employed.
Contacting Recruiters (Originally Posted: 06/19/2012)
This may be a dumb question but is there any way to connect with old recruiters in hopes to get interviews for FT positions if you didn't get the offer from their firm?
I interviewed at an accelerated superday due to study abroad for a SA position last winter at a BB for IB. Didn't get an offer. HR called to let me know, etc. Said I should contact them anyway and let them know what I'm doing for the summer and such. I figure it is a bunch of bs and that they don't care too much...but is there any way I can follow up with them and actually tell them now...or any way to try and gain another interview from this for FT?
I am still bamboozled on how I got that superday...I hadn't contacted any alumni and really had no contacts at the bank who could've helped. I applied to take a shot in the dark for accelerated and landed it.
Anyway, are there possibilities? I'd love another shot at it but I dont know how to land another interview without contacts, even though I managed to get one originally.
Thanks
HR doesn't really make decisions. It's usually the MD's, D', VPs and sometimes Associates. HR just passes on the good/bad news
Recruiters - Contact? (Originally Posted: 01/23/2013)
Anyone know a contact in recruiting at BMO Capital Markets? I spoke to a great person over the summer but she's not there now. Can't reach anyone in NYC or Chicago offices. Should I email a banker who visited my school?
which group?
I want to collect some basic info on groups - I'm fairly open but leaning towards M&A and tech.
i know that the bmo ppl in nyc are very responsive just put together a nice succinct email. never dealt with the chicago office.
Are you a student? I've talked to a couple of other people with same problem. Can you ping me with a contact name?
Reach out to recruiters (Originally Posted: 08/23/2016)
I go to a non-target school. What is the best way to reach out for recruiters for full-time ib interviews? Already landed an interview with GS through an alumni connection, but I want to keep my options open in case that dose not work out. Aside from GS I am looking into MS, JPM, and Citi.
What GS office was this? So far I've talked to people in the NY and CHI office and they say they're not recruiting full-time.
I would say best way is to network. Set up informational interviews with someone you have a connection with at the bank you're looking into and then ask them if they know anything about the full-time hiring process, or see if they can put you in touch with anyone who does know.
This post spews of misinformation and confusion.
Contact alum recruiter? (Originally Posted: 07/03/2017)
Rising junior at a non-target- has anybody had success with contacting alumni working in HR, specifically recruiting? My school network, especially for IB, is very small and there are no alumni working in IB at quite a few MMs. Should I reach out to alumni in HR or try to find someone in IB through another connection?
Contacting a BB Recruiter (Originally Posted: 06/10/2009)
My friend gave me the contact information for a BB Head of IB Recruiting. I plan on e-mailing first then calling him if I don’t get a response? Should I just introduce myself and let him know what I can do to better position myself for an IB SA interview for next summer. Any questions in particular I should ask? Thanks.
First, don't underestimate the value of recruiters. While obvious, it's worth repeating that if they like you, they can get you the interview. So with that, I'd recommend going straight to phone, since e-mail can be far too easily ignored. While on the phone, try to have it as a normal conversation rather than a Q&A. Finally, when you're wrapping up, see if he can refer you to any bankers in groups that you might be interested in at said BB.
Good luck!
Calling a BB recruiter is pointless. If they even respond to you that will be a miracle. Calling them won't do you any good considering that they know why you're calling and asking them what you can do to better position yourself is kinda obvious. Go to a target school, have good grades, and have relevant experience in the industry.
If this is their personal contact information then I take back what I said, however, if you're cold calling recruiting then GOOD LUCK!
Posting the same message three times in a row is pointless, dumbdick.
were you talking to me? Or one of the respondents.
Does anyone know whether calling a BB recruiter is pointless? Anyone???
Been in the situation before. Though i usually email.
But if you call them, introduce yourself properly, (who you are, why your calling) have good answers for general questions like why IB. Then end the call by asking if you can grab coffee with him or a banker when you visit NY (or whereever) sometime.
Haha a quad post?
Not sure about your inquiry. However, if you go to IU, talk to Haeberle if you're interested in BB IBs. He'd have some advice, and could maybe hook you up with contact info of his former students at BBs (not sure if he'd do that).
Contacting Headhunters (Originally Posted: 07/26/2016)
Can college kids contact headhunters for IB internships? A friend of mine used one to find insurance internship/job. Will the banking head hunters even waste their time with a college kid?
not for internships, they place for FT.
They likely will not be able to help you as firms typically hire head hunters to fill roles that can't be filled via campus recruiting i.e. experienced hire roles requiring -- at the very least -- 1-2 years FT experience.
Good group, worth reaching out to headhunters? (Originally Posted: 08/30/2016)
So I'm a 1Y at a pretty good boutique (MoCo/Laz/Evercore/Gugg) that traditionally has had gotten good upper-MM/even MF looks over the years. Headhunter love is usually present even if at BX ("PJT") RR levels, and the older guys at the firms have been getting inbounds for a few weeks asking for my class' contact info.
I figured the conventional wisdom in this spot was to sit tight for now, but I listened to a webinar where a guy at a similarly solid group claimed that his adding recruiters on LinkedIn (rather extremely, right after his summer offer came through) paid dividends the next winter when it came to getting looks, hearing about things earlier than the rest of his class, etc.
Where do people stand on whether this is actually effective? Could it be perceived as over-eager, and will people even respond beyond perhaps accepting a LI connection? If it could work, who among the dozens of recruiters even at a firm would be best to target?
As quick background, I have a dece (~3.7) GPA from a top target. Didn't intern at my current group, so though I'm getting progressively better assignments, they're not quite the caliber some of the superstar returners have been on since we started.
Bump, I'm sure you guys can take a break from giving kids proper formats for post-interview thank you notes to give me some kind of an answer here
If you're set on buy side, maximize your chances by improving your interactions with hhs.
Probably wouldn't hurt if you handle it the right way.
"So I'm a 1Y at a pretty good boutique (MoCo/Laz/Evercore/Gugg)"
So... you're at Gugg?
So by first year you mean you hit the desk like a month ago, after factoring in training, right? If so, you're fine.
As ridiculous as it sounds, the headhunters will start to reach out to you as early as October. That shocked me considering I literally had no idea what the hell I was doing at that stage of my career. I don't see a need for you to reach out to them at this point, and honestly, I think there is some downside to it. You don't want a HH to think that 1 month on the job you're already so focused on getting out that you won't bother to build a real skill set.
Spend the next month or two prepping for those initial conversations with HHs. Talk to the kids in the class above you, ask them about the process and how it's worked out for them. They are going to be your best resource. If the emails don't start to come by late fall, ask them to introduce you to the HHs that they have spoken with. You're super early in the process, slow down and focus on making yourself a strong candidate. You're going to be more than fine.
Is It Okay to Contact Recruiters Who Didn't Give You Their Info? (Originally Posted: 12/14/2009)
So I've met some recruiters whose business cards I don't have because I made the mistake of not asking them for their cards after the events. I figured it might be considered strange for a freshman to be following up after an informational session anyway, but I decided that I might want to demonstrate my interest early and enthusiastically so they're more likely to remember me later.
Is it appropriate etiquette to research the emails of people who with whom you want to follow-up?
Definitely, stalk them out, get their contact info by whatever means necessary and try to take advantage of the opportunities they've been tasked with filling.
Recruiters aren't that important, better to e-mail alumni that don't push papers all day.
ANYONE at a company (except the janitor maybe) is a contact, and is worth reaching out to. Try to network with both alumni and recruiters.
If they were giving out their cards to other people, and you just forgot to ask for one, just e-mail them anyway because its not like they are going to remember that they specifically didn't give you their contact info. If they weren't giving cards out to anybody, definitely still try to reach out, but anytime I send out a "cold-email", I always make sure to say where I got their contact info.
Hope this helps.
I was given the recruiter's contact info - now what? (Originally Posted: 11/08/2010)
After networking with alumni and family friends I was given names/emails for recruiters at a few BB's. My question is this - What is the most effective way to reach out to these people to ensure that they will review my resume and consider me for the interview process for SA's? Would a phone call be appropriate? If it's an email do I attach my resume? Is applying online still a must before any contact is made?
I have a general idea of how to best proceed, but any advice on proven ways to reach out to HR to improve the chances your resume gets a look is always appreciated.
Thanks everyone
Email them and ask for a time when you can have an informational discussion (in person is best but if not then over the phone)...
And start reading M&I... it covers all this shit
ill send you a pm in a bit
@rufiolove - found a very helpful article on M&I.
@LIBOR - FU Nation haha.
How to connect my friend with headhunter (Originally Posted: 05/29/2012)
My friend just quit and is searching for a new job in IR or general finance role (have rich experience in both). I have a few finance headhunter contacts that used to contact me for some job opportunities (turned them down but got their emails or connected on linkedin).
How do I go about helping my friend? Should I just email these headhunters out of blue introducing my friend (copy his linkedin profile and roughly mention he is looking for A,B,C field and please keep an eye if there are any matches?)
Don't want to be too abrut or rude as I don't know these headhunters well, also don't want to hard sell my friend (might look too desperate)
Anyone has experience in this?
Thanks a lot!
I misread this as "how to hook up with my friend's headhunter." Woulda had some better advice had that been the question...
Should I contact the recruiter? (Originally Posted: 07/15/2015)
...
Transferring now? Abso-fucking-lutely not. But I'm sure they would be more than happy to talk to you and tell you how you can leverage current and past experiences for a position in IBD in the future.
Thanks for the response.
I should clarify sorry. I meant starting full time in the IBD. So I want to ask the recruiter if there's a possibility to interview with the banking group. Not transfer from my group mid-internship
.
Good group, worth reaching out to HH's? (Originally Posted: 08/27/2016)
So I'm a 1Y at a pretty good boutique (MoCo/Laz/Evercore/Gugg) that traditionally has had gotten good upper-MM/even MF looks over the years. Headhunter love is usually present even if at BX ("PJT") RR levels, and the older guys at the firms have been getting inbounds for a few weeks asking for my class' contact info.
I figured the conventional wisdom in this spot was to sit tight for now, but I listened to a webinar where a guy at a similarly solid group claimed that his adding recruiters on LinkedIn (rather extremely, right after his summer offer came through) paid dividends the next winter when it came to getting looks, hearing about things earlier than the rest of his class, etc.
Where do people stand on whether this is actually effective? Could it be perceived as over-eager, and will people even respond beyond perhaps accepting a LI connection? If it could work, who among the dozens of recruiters even at a firm would be best to target?
As quick background, I have a dece (~3.7) GPA from a top target. Didn't intern at my current group, so though I'm getting progressively better assignments, they're not quite the caliber some of the superstar returners have been on since we started.
Bump
How to retain recruiters (Originally Posted: 02/24/2018)
Hi,
I am a 3rd year event driven analyst focused on special situations (catalystic long/short and distressed debt) and merger arbitrage. I work in Canada and would like to transition to the US at this point. Looking for some strategy/insights from the folks at WSO. I am thinking of using recruiters. Can anyone recommend a list of good ones that I should introduce myself to? More importantly, how do I deal/retain recruiters? Should I call to introduce myself or just email with my resume? What should I say in my emails? Love anyone who have experience with this share some tips here.
Thank You,
halfstep, have you checked out these or run a search:
No promises, but thought I'd mention a few relevant users that work in the industry: Ryan-McIver Bfoster82 fundinvestoraz
Fingers crossed that one of those helps you.
Working with Recruiters in Finance (Originally Posted: 06/05/2012)
We're curious to get feedback... what has your experience been working with recruiters in Finance?
From over 25 years of experience recruiting project based consultants we have learned ALOT and want to keep improving the experience for our candidates in the recruiting, application, and selection process. Your insights are MUCH appreciated. Thank you in advance.
Message me directly...I would be happy to share my thoughts with you!
Best Way to Find a Recruiter in the South (Originally Posted: 12/02/2015)
Hey WSO,
What would be the best method to engage a headhunter in the South? I'm looking specifically at New Orleans, Houston and Dallas, and really looking for either an equity analyst role, foundation/ fund of funds, or FP&A.
Thanks,
interested as well.
Well oil and gas is in mainly New Orleans and Houston. Which right now is really, really bad. I know there are other industries that do banking in Nola. Not sure about Houston.
Dallas has a lot of random stuff. Maybe try there?
I would guess LinkedIn.
Hmm, well I'm on the east coast so trying to apply online tends to be a black hole, since they'd obviously prefer someone local. Should I start with the usuals like glocap?
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