How to network over the summer?

Hi guys,

I've been reading the posts on this site for a while and they definitely have been very helpful to me. Anyway, I was wondering how (if possible) to network with other firms over the summer? Given IBD hours....will I ever have time to go out and meet people at other banks?

Thanks!

 

I am very interested as well. I have an internship at a large MM shop but I aspire to work at a BB (Its just the drive in me) and networking is so crucial in applying for a full time position especially since firm hire 50-70% of their full time class from their internship group.

Any help/thoughts/ or insight would be greatly appreciated

 

The summer will be a 10-week interview for you. You have to make sure people like you and the work you do. So, a few rules to keep in mind:

1) Keep a positive attitude (can't emphasize this enough)

2) Introduce yourself to people and remember their names

3) Don't eat lunch alone - feel it out and try to go out with different groups of people, or just ask one of the analysts/associates if they'd like to go out and chat. People love to talk about themselves, so just ask them about how they got there and make small talk.

4) Don't ever be socially awkward. Sadly, this is hard to work on.

5) VPs and MDs are busy people, but if one of them seems like he is friendly and open to you chatting with him, take advantage of that. If you can make friends with a VP or MD, they can really help you out when the entire group decides on whether or not you get the FT offer.

6) HR can't get you the offer, but they can keep you from getting it, so don't be a dick to HR people. Get to know them and be friendly, always.

Wall Street leaders now understand that they made a mistake, one born of their innocent and trusting nature. They trusted ordinary Americans to behave more responsibly than they themselves ever would, and these ordinary Americans betrayed their trust.
 

Personally I wouldn't focus on networking with other firms over the summer. Focus on doing a good job at your firm and getting the offer there.

If you get a FT offer where you intern, you will be able to leverage that when FT recruiting starts in the Fall. You will have plenty of opportunities to attend info sessions and network with people at other firms once your internship ends.

Other people may have other perspectives on this, but I think focus on networking with other firms during your summer internship is bad form. If an opportunity presents itself, by all means go grab coffee with someone from another firm. But I wouldn't focus on that...

Wall Street leaders now understand that they made a mistake, one born of their innocent and trusting nature. They trusted ordinary Americans to behave more responsibly than they themselves ever would, and these ordinary Americans betrayed their trust.
 

Yeah if you're doing IBD it will be tough to network during your internship. You should focus on your current internship first- if you don't get a FT offer here, then you will have zero leverage at other firms and the networking will be for nothing.

In another month or so, start reaching out and making connections with people at firms you'd like to work at FT. Just be like "hey, I'm working at this bank over the summer, noticed you were an alumni, and wanted to get some advice for the summer internship." Keep up with people and do this right up until your internship starts. Then go to your internship, crush it, get the offer, and reach back out to all of these connections.

 

makers mark, do you think the bank I will be working this summer, will be offended (and not give me a FT offer) if they find out I am networking with other firms? Is it necessary to even mention where I will be interning?

 

I would imagine that most people would get a little pissed if they found out-yes. But again- this isn't the reason to not do it. Last summer I did a middle office internship and didn't work long hours so I did a ton of networking during my internship and nobody found out. I'm just saying that if you're doing IB, you'll have practically no time on your hands so get it done before you start. And it will be almost impossible to sneak away for lunch with someone when you don't know what weekends you're working and stuff like that.

And I see no harm in mentioning your firm name to the people you're networking with- it should come up in conversation anyway.

 

Definitely. The summer can also be a good time to connect with seniors from your school who received offers at these banks. However, your number one priority should be to make sure you get a return offer from your Big 4 firm. One in the hand is worth two in the bush.

"Money doesn't talk, it swears." -Bob Dylan
 

1) I have never heard of banks having receptions for interns from other banks. There are intern events where you have interns from different divisions mix (like S&T, Banking, Risk, ect)

2) No.

"Greed, in all of its forms; greed for life, for money, for love, for knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA."
 

No, it would not. What you can do is attend the Veuve Clicquot on the 5th of June. That might be one of your only networking opportunities with execs. Or you could buy lunch for analysts/associates who review your resumes come recreuiting.

 

What is the Veuve Clicquot? When I google it all that comes up is champagne.

I figured that it would be inappropriate to ask for some time on the weekend. I guess I will just wait until fall and make some trips to NYC to network then.

Thanks.

 

I'd say it's easy to network with other groups/divisions during your internship. They key is to know, or make friends with, interns in other groups who can put you in touch with the right people. As for networking with other banks, again, it's easier if you know interns that work there. Some banks have networking events where you can invite your friends who are working at other firms, at least mine did. Remember, it's all about who you know.

Thank you for your advice. I won't have to leave work for it, but the chances of my current bank finding out are pretty high. Besides, I really don't like going behind their backs, but then again, they haven't placed me in the groups I wanted either. I guess it would probably be best to suck it up and make the most out of my current internship.

 

I have a similar query for a hypothetic situation. If you had a SA stint at a bank you really didn't want to work for full time and also had an invitation to a 1/2 day program at another bank which you would want to work for full time, with the latter program's date coinciding with work days in your internship, what would you do?

 

I've done this last summer, basically I stayed for about half an hour (6:30-7PM) towards the end when they finished their presentations (2 hours is overkill) Also I interned in midtown so it was easier. But don't make this a habit, go to 1-2 Only. To CT banker: hr usually sets these up and email candidates under their radar, those who rejected their offer, or those recommended by current employees.

 

If I were you, I wouldn't miss your internship to do it. I'd try my best to slip into anything after work or any networking things on the weekend. The HR for my internship frowned upon ANY missed days for ANY reason and I wouldn't risk a good opportunity with the firm you're at. Just keep it to after work hours.

"He was the guy who always won the game of chicken because his opponents suspected he might actually enjoy a head-on collision."
 

Absolutely. There is nothing wrong with some networking during the internship since nothing is guaranteed and nothing is official until you've got the FT offer in your hand. While some people think that every banker you talk to is going to run back to your employer and tell on you, that is just not the case. Networking is an essential part of the business and if done tactfully, a very successful part of it.

Keeping that in mind, you don't want to confuse networking with free socializing - in other words, you don't want to start badmouthing your current employer, the SA opp, your group, any specific bankers, etc - that is the garbage that can come back to bite you in the backside if for no other reason than it reflects poorly on your character.

To the first part of your question, you want to reach out to your contacts. In other words, alumni, friends, past interviewers, etc from other banks to "catch up." A quick update on what you're doing, a quick question or two for them to keep the convo going (in the event of past interviewers and alumni - friends is an easy-enough category) is really all it takes - when they see that you are in banking it will definitely make you more appealing and provide conversation points going forward as you approach FT recruiting if you need it. At the worst, the banker will ignore you - simply move on and don't give it a second thought. Not every contact is going to welcome you with open arms and that is ok - as a SA you will be very busy just like they are busy - be patient and considerate.

 

try to find an internship using ocr in a more finance related analytical field. I don't recommend randomly approaching strangers for meets. not everyone that walks around financial district is a banker. start targeting networking events, utilize your alumni database, join a finance club, etc. most importantly make sure you can back up your aspirations. read books, get more familiar with the industry. show initiative.

 

Get a friend in IB to run a CapIQ screen of alumni in the city, or get an alumni (current) list from your school. Since you have free time, tee up all of these emails and keep them in your draft box, then every Monday once your summer starts shoot off whatever number of those drafts you think is appropriate (e.g. 10 or 20 -- seeing as how only 10%, 25%, 50% may respond, and less than that will talk on the phone, and less than that will actually meet for coffee, drinks, lunch, etc.)

Good luck.

"They are all former investment bankers that were laid off in the economic collapse that Nancy Pelosi caused. They have no marketable skills, but by God they work hard."
 

That does not seem like networking ballmouse. Contacting alumni or people who you are introduced to is networking. Look up your alumni database and search for contacts at BofA. Do for every bank and then search general terms such as investments, banking, research etc. etc. and start contact people. Linkedin can be extremely helpful.

Good luck

 

Thanks. It's not necessarily impossible to get a fall/summer internship with no finance experience even though I'm about to be a senior, is it? Is there anything in particular I should look into if I'm in this scenario? Like something to do after my junior summer?

 

Try getting in contact w/ a friend in the firm. Or just search kids from your school on facebook or something.

Banking > VC > Tech PE; PM me if you would like any advice I'm happy to help
 

its important to get a buddy to recommend you for one of these. and better make sure its someone credible too, because no matter how good you come across, they will inevitably judge you on the basis of who has brought you along.

"Living the dream 24/7 on http://theallnighter.blogspot.com"

____________________________________________________________ "LIVING THE DREAM 24/7 ON http://THEALLNIGHTER.BLOGSPOT.COM" ____________________________________________________________
 

wait how exactly does this work? are these events meant to be for other interns from other banks or no? and so the current bank interns go to the events as well?

AllNighter:
its important to get a buddy to recommend you for one of these. and better make sure its someone credible too, because no matter how good you come across, they will inevitably judge you on the basis of who has brought you along.

"Living the dream 24/7 on http://theallnighter.blogspot.com"

 

I want to ask the same question. I currently work 9 - 6, lunchbreak is only 30 mins. I think it is impossible to do it over lunchtime as sometimes conversaton will easily go on for an hour (happened to me before which made me miss my train).

Is it possible (rude) to ask to meet up after 6pm? So pretty much make it like a after-work meetup at a cafe or a quiet bar. What bout Saturday as some MDs do work on Saturdays?

 

Currently work at a very small boutique in NYC, rising junior at a target school. I don't typically meet up with people in person, but I very frequently set up calls during the day that I take whenever I have downtime.

If your office has phone booths or rooms that aren't being used, just pop into one, talk to people for 15-20 minutes, and go back to your desk like nothing happened. Obviously you can't do this if you're working on something but in downtime it's not too hard.

Usually meeting up in person is harder because people are usually busy around the clock- infrequently I have met people on the weekends, but this is usually at their request, not mine.

 

Put together a list of people you want to email, and type up and save the drafts in your email, and get to work a few minutes early and send them out in the morning. In my experiences people like to talk in the morning on the way to work, or during lunch breaks, so it really shouldn't interfere with your work too much.

 

do such events exist in NY?I thought there are events only for interns of the Ibank that organizes them (at least this happens where I work).if yes i'd be interested too.

 

when i did my summer, the networking events were strictly for the people working in that particular bank, they would make sure no one else got in at the door...I dont think anything like that exits, except for SEO networking events. But, I did s&t so who knows. doubt it though, good luck anyway.

 

i attended a DB summer networking event that was intended for interns from other banks. not sure how they found my name / details, so not sure how you would go about securing an invite. i also know (from somebody who asked if they could just turn up and wasn't allowed to attend) that you had to actually be invited in order to go. this was in london, btw.

 

banks host these events and invite people who they liked during recruiting but who went to other banks for the summer. So, if you interviewed w/ a few places, the ones you didn't select will likely invite you out for a social event. It's pretty unusual for you to just be invited out of the blue to another bank's social if you don't already have relationships there.

 

do these people that attend these events get an offer right there on the spot if they like them? Or they have to go through the whole interview process and everything again.

 

are you from a target? a bank will typically host a summer networking event for all finance/consulting interns from a particular school. the invite list was pretty open - even if you weren't already on their radar from past interviews, it seemed that any rising senior from my school could attend.

 

I work hard and then after I get as drunk as possible and I try to tell as many dirty stories to whoever will listen.

If you call that networking then i guess, I am

Eventus stultorum magister.
 

re Q2, I think you should target analysts. You are going to screw up a few coffees until you get the hang of it so why risk it with an MD? Also - if you ask the right questions you can get a better feeling of what it is to work for bank X as an analyst. In interviews they will ask you things like "why bank X?" - have your coffee date (analyst) answer that for you by asking him/her what he/she likes about working for firm X, etc..

 

Alright imma bump this since the answers so far have been pretty weak.

Thanks rshelef13, appreciate the input.

Im thinking (and hoping) that these questions are pretty relevant to us people who go to non-HYPSW (and the other bunch) schools. especially when we want to take advantage of the time we have during the summer to do this.

 

wait until you finish your internship, and start making calls/setting up meetings. Trust me, in all likelihood they will not remember you anyways, and its not as if they'll think, "Oh, I remember that kid from the FoF, but he said he was an analyst there. He should have said he was only a summer." If the guys you met are nice enough to take a meeting with you, you'll likely be starting from square zero. On the other hand, if you can get one of your bosses to introduce you to his contacts, you will be in infinitely better shape than calling off of business cards.

 

Did they tell you to say anything about your position - did they tell you to lie, or just say nothing? If they have you say nothing, then just reach out to your contacts once the internship ends and try to refresh their memory, etc. If they told you to say that you were an analyst/associate, then when emailing them instead of referring to yourself as an intern, refer to yourself as a summer analyst/associate, and do the exact same thing - refresh their memory, reintroduce yourself, express an interest, etc.

This is, however, a bit confusing without knowing more of the details, or knowing what you are hoping to get out of these relationships - are you looking for a summer internship next year, or are you planning to stay with your current hedge fund for another summer - at the end of the day, you will probably be starting over from scratch, but with the upper hand of a business card and a past connection - if you get some positive responses, great, if not, nothing lost nothing gained.

IBanker www.BankonBanking.com [email protected] Articles, News, Advice and More Break Into Investment Banking

 

here are a few networking tips:

  1. wait til you're done with your internship so you can concentrate on your work - i assume you still want a FT offer from the FoF. Also, you'll have a much more flexible schedule since you don't have to be working from 8 to 6. These guys are busy so you're going to have to be flexible to meet their schedule.

  2. Figure out what you're going to say about what you're doing, what you're interested in, your internship experience, etc. You want to make a good impression.

  3. Hedge Funds don't have a structured recruiting cycle so don't expect immediate interviews. You may not get the opportunity/offer until you get closer to graduation. So adjust your expectations accordingly and don't get bummed if the results aren't immediate.

Good luck.


I'm making it up as I go along.

------------ I'm making it up as I go along.
 

Thanks for the advice guys. To clear things up, I am going into my senior year and graduating in January. I will continue to work at this FoF during the fall, but they will not be offering a full time position (it's a small group). My bosses are very cool about it and know that I will be looking for a job in the fall. They have introduced me as an analyst at meetings.

Any additional advice would be appreciated. Thanks.

 

As much as you might like to think you made an impression, Yuntsucks is right that they are unlikely to remember you, and even less likely to remember your stated title.

Don't worry about that and when your internship is up, or whenever appropriate, begin the conversation with them. Remind them you had an opportunity to work with them with abs FoF or whatever, and it will at least get you an opportunity to maybe show them your resume. Don't expect much more than that.

Good Luck!

 

Dude, you're networking. Everyone in business does it. If you want to meet people, go out and meet people. Just don't do it on your company's time.

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 

Tell them exactly what you want to do. If you want to know what they do, ask if you can work there or shadow someone. If you want to meet them and make connections, find someone that can get you 'in' to a lunch or w/e other event they might have (even drinks).

If you want to work there, do both.

Put simply: imagine you're on the receiving end of your phone call. How would you react? Be more creative since you're already in the company and don't want to be seen as "that guy from back office that cold calls the front for no reason."

in it 2 win it
 

If you literally work 2x and 3x harder than anyone else, and ask good questions. Analysts and Associates will buy you lunch and invite you to bar nights.

I did Corp. Fin. internship at a BB and the fastest way to network with Analysts and Associates was to work harder than anyone else. Some of them were even eager to write me references and recommendations at the end of my internship.

Eventually, they will the ones who will tell VPs and MDs about your contribution. (Or, if you don't work hard and they get yelled at, they don't think highly of you.)

 

Several banks do these events... out of the top of my head I think last summer, GS, CS, and BX had these events. I knew mostly from my friends who worked at those firms. Additionally, I don't think you need an invitation to go per se. I definitely knew some people who just showed up.

 
James07:
Several banks do these events... out of the top of my head I think last summer, GS, CS, and BX had these events. I knew mostly from my friends who worked at those firms. Additionally, I don't think you need an invitation to go per se. I definitely knew some people who just showed up.

do you guys know of any such events in Houston? I would love to go out there and just explore.

 

Completely fine - get in touch with alumni from your school and ask whether they'll meet up for coffee.

Also, when you do meet up, ask them whether they know any other alumni from your school who you could reach out to.

 

Dude, really? You can be friendly with them like a normal human being without it affecting your chances of getting a return offer. With that attitude it's going to be obvious that you can't be easy to work with, so I'd suggest changing it or hopefully that's not how you look at it and you're just asking for help.

You don't "network" with other SAs, you hang out with them. What do you do in your free time? All my friends are my co-workers, not competition...

I hate victims who respect their executioners
 
BlackHat:
Dude, really? You can be friendly with them like a normal human being without it affecting your chances of getting a return offer. With that attitude it's going to be obvious that you can't be easy to work with, so I'd suggest changing it or hopefully that's not how you look at it and you're just asking for help.

You don't "network" with other SAs, you hang out with them. What do you do in your free time? All my friends are my co-workers, not competition...

Forgive if I didn't make my point clear enough. Of course I can be friendly with other SAs and naturally I will be, but what I'm asking if there are any benefits to being friendly beyond just "hanging out". Obviously I'm going to do everything I can to maximize my chances of securing a return offer, just wondering if networking with the other SAs will help towards that aim.

You know you've been working too hard when you stop dreaming about bottles of champagne and hordes of naked women, and start dreaming about conditional formatting and circular references.
 

I spent the past summer at a PE firm and coming from a non-target networking was a high priority task for me.

I wish there was a better answer and maybe someone else will have one, but there is no magic formula to networking. Unlike the calculating the WACC you don't put X, Y, and Z components together and magically end up with the result. IMO you go about networking in the same way that you go about making new friends, but with some deference for your contact because they have connections, experience, and are actually doing 'it'.

You're essentially growing a relationship with someone that you don't know so you need to have a good pitch, be personable, and just not be weird. It's touch-and-go really so you might have a script and a few questions prepared, but you've got to be able to make conversation and flexible, but have the ability to steer a conversation. I'm sure you're not an awkward person so again approach it like you're making a friend, but with all the tact and respect that a contact deserves. To your specific example, I think if you've introduced yourself as a 'like-able' person and openly communicate with your contact they'll probably understand your situation. If you get jammed up with a ton of work right before a phone call and you can't put it off for 15-20 minutes, email them or call them anyways. Thank them for their time and willingness to speak and try to reschedule. Just use your common sense and think about how you'd like to be treated.

It's like a small flower, take care of it and grow it!

'Before you enter... be willing to pay the price'
 

This is a great question..

Although I've never worked in IB, I can relate to networking while in certain internships/other finance related jobs.

It's a tough dilemma, because you don't want to disrespect those you are networking with who may be far busier than you and may go out of their way a considerable amount to schedule a call or a meeting.

I guess a lot of it is learning your schedule and when the typical down times are. If things tend to not be so busy near lunchtime or early in the morning, try to schedule your introductory calls around then. A lot of times these don't last for much longer than 10 - 20 minutes anyways since your goal should simply me to schedule a time to meet these individuals.

From there, try to schedule the meetings for times in which you know you won't be in the office.. think early morning before you come in (grab a coffee) or later in the day after work (grab a beer).

Furthermore, make sure your using your time efficiently when talking/meeting with these individuals. Prepare questions so you can as quickly as possible extract information and project what your interests are in the industry.

Sorry I can't give a more pointed answer, but like I said this is a tough situation. There is no answer that is going to work all the time.

 

Priority #1 is crushing your SA. Never forget that. One of the first questions that any interviewer will ask you is "did you get a FT offer from XXX boutique?" Being able to say "Yes!" to that question will be worth more than almost any networking you can do. Besides, it is always nice to have an offer in the back pocket.

I would try and network before / after your SA stint.

 

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