What's the goal of networking if you're already at a target with a very strong resume?
Let's say I go to a top target (H/W), have a 3.8+ GPA, prior IBD internship, other finance internships, clubs/activities, etc. Basically a resume strong enough to guarantee first round interviews at almost any BB.
So my question is, what should I be trying to gain from networking with alums and others in the industry?
It felt awkward to try and get them to pass my resume along since I already go to a target and I would just be applying through the usual OCR process in a few weeks anyways, so there isn't much they can really do for me before then.
Basically, all I did during my phone conversations with them was talk some bs about firm culture, interview tips, etc. I have a few more phone calls scheduled, but right now it just seems like a waste of time. Any advice/thoughts?
plant seeds mother-effer
any and all support can help...well you may be from a target with good grades you may still be an idiot
if you have a 3.8 at h/w, you don't need to network
i highly disagree
yeah because that high gpa and your schools name will solely carry you and open up every and all doors ad infinitum in your life
junior guys / college kids tend to be very short sighted. networking is about opportunities down the road not just the immediate post-grad job.
you never know where someone you met / kept in touch with will end up or where you may end up
Good reading about life on Wall Street from an old school Wall Streeter. http://www.scribd.com/doc/2566651/Wall-Street-living
wow shorttheworld since when have you had trade4size's comment as your signature. that's a little sick...
It's not trade4size...its trade4life's comment. Trade4size could be getting gangbanged by 4 dudes, and he still would not say something that gay.
To the original poster, you network to make friends, have an excuse to go and have a beer with a guy who works at the bank. And if anything, you make connections so that you can have more options when it comes to picking your group or your contact knows someone in a group that you want to be in. Being from a target with an amazing GPA and resume gets you plenty of interviews and a few offers, but its the networking that can guarantee you the group of your choice.
At the analyst level it is perfectly fine to be a huge dork with great grades and few connections. You are a robot, nothing more.
At the associate level, fit becomes much more important. There are many people in my MBA class who would have had an easy route to IB analyst, but they wont get interviews for associate.
would you agree soft skills and overall getting the big picture are a plus at the assoicate level?
honestly i graduated from an ivy with a 3.9+ GPA and had a solid hedge fund internship during my sophomore summer which i found through OCR. I did zero networking.
while I did manage to get a LOT of interviews, I still probably only got around 60-70% of the total ones I applied for. For example, for SA I didn't get GS IBD, Citi IBD, JPM IBD, BoA IBD, though I did get MS IBD, Merrill IBD, Barcap IBD, MS S&T, GS S&T, Bain...etc.
The short answer is networking can only help you get more interviews. Yes I felt I was one of the top kids in my class and was surprised I didn't get a lot of interviews, but had I networked at all (I did zero networking) I probably could have secured a lot more.
On the other side, I was interested in boutiques as well (Evercore / Greenhill / Blackstone) but most of them did not do SA recruiting at my school, and obviously I never was able to get interviews with them.
So in short, networking only helps, but is not essential if you're super qualified.
you sound super qualified and didnt even get interviews at the most of the shops people on this board shoot to work at.
As an Associate who just finished interviewing prospective full-time analysts, I can tell you for sure nothing beats networking. We had about 15 analysts come in for 1 spot in my group; all from target schools and all with top grades like yourself. You know who got the job at the end? The one kid who had spent time getting to know one MD; they both played lacrosse so I wouldn't be surprised if that had something to do with it.
Again, this kid wasn't dumb by any means but he was definitely middle of the road both on paper and in person compared to the other 14. However, before we even started interviewing it was made pretty clear that unless he f'd up royally, that the path was paved for him.
Fair or not, that's life.
agree 100%....
Network to get to know what kind of people work in each group, and which of them you want to work with. You can also talk to them about what opportunities they see from higher up the ladder, that's valuable info and sometimes can be very different than the sales pitch at the info night/interview. If your grades and everything are solid, I wouldn't ask them to pass around your resume, just concentrate on the info aspect. Knowledge is power.
(Power corrupts. Absolute power corrupts absolutely. Study, be evil)
wow thanks for the insight 99, really hits the message on the spot.
There are so many analysts in my group who are super smart but who just don't get it; life IS a meritocracy, but knowing the right people, knowing how to play office politics, how to present the right image to the right person are also merits. In fact, as people advance in their careers, being able to do those things can cover for LOTS of substantive deficiencies.
Cumque earum doloremque velit corrupti. Neque qui deserunt occaecati nam iure. Voluptatem sunt sint incidunt et minus corrupti voluptates. Repudiandae unde voluptatem eum dolor omnis. Blanditiis placeat enim nam id in doloribus ut.
Impedit et saepe magnam sint eos quia. Aut velit et a non excepturi quae. Tempora voluptatem ut possimus voluptatem cum quis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...