20 Comments
 

I don't know why "networking" is even an issue for most people

it's the equivalent of 1) being a functioning human being, 2) showing interest in an area that interests you.

Slightly appalling that networking is so "mystical".

 
Best Response
SolidarityI don't know why "networking" is even an issue for most people

it's the equivalent of 1) being a functioning human being, 2) showing interest in an area that interests you.

Slightly appalling that networking is so "mystical".

I think most people fear looking like a jackass. This was something I had to overcome myself. Having genuine interest in a particular field but fearing looking/sounding like a jackass in front of people with expertise in said field. It's not always so simple, especially if you are worried about a perceived weakness (i.e. Low GPA, non-relevant work exp, non-target school, etc.). The key is overcoming these fears and being assertive/confident.

 

I paid for an event like this once, but it also covered modeling (specifically, DCF valuation). I did it through one of my school's undergrad finance clubs.

The guy that hosted it is a PE guy that does workshops like these on the side. He really cleaned up too, people were paying between $300 and $500 (depending on whether or not they registered on time) for the session and there were like 30 people there. I might want to note though that the workshop was over nine hours long (continuously).

If you want to get something like this going, the best approach would be to contact all the undergrad business organizations in your area to negotiate a deal. I think you'll find that semi and non-targets will be your biggest customers, since they need to go further out of their way to break in.

I feel like you could still run this program if you didn't even cover any modeling (but you probably wouldn't be able to charge $300+ per head), it also wouldn't have to be nine hours long that way.

"If you can count your money, you don't have a billion dollars." - J. Paul Getty
 
monty09I am thinking $100-$200 and having HR folks from all BB;s speak as well as Vitol, BP , CoP etc etc

I can def hit up every texas school but curious if kids would travel from out of state.

Houston was ranked best city to start a career and energy seems to be a hot sector for most college and undergrad students

If you have the ability to arrange that, then you would certainly draw a big crowd.

Another idea that would make the event better would be to have a company name under which you host this event. If you have a company name, then it's easier for attendees to list their participation on a resume. That way they can write something like:

"Participated in the Monty Group's financial recruitment and networking seminar"

"If you can count your money, you don't have a billion dollars." - J. Paul Getty
 
San Franciscan
monty09I am thinking $100-$200 and having HR folks from all BB;s speak as well as Vitol, BP , CoP etc etc

I can def hit up every texas school but curious if kids would travel from out of state.

Houston was ranked best city to start a career and energy seems to be a hot sector for most college and undergrad students

If you have the ability to arrange that, then you would certainly draw a big crowd.

Another idea that would make the event better would be to have a company name under which you host this event. If you have a company name, then it's easier for attendees to list their participation on a resume. That way they can write something like:

"Participated in the Monty Group's financial recruitment and networking seminar"

company names means company say it how it is ran. I am planning this event with 1-2 other wso members

 

I have sort of a mental block when it comes to networking. I'm interested in trading (for the excitement and $), but so much of it seems to be guesswork.

Monty since you're an energy guy you can relate to this - take Amaranth v. Centaurus for example, basically betting in opposite directions on natural gas. Smart people with good track records, and it comes down to being lucky. How about prop traders, Boaz Weinstein has 10 good years then loses $1.8B in 1 year. Christian Siva-Jothy hasn't been doing too hot after breaking away from GS to start his own fund. How about quants? Massive drawdowns in GSAM Global Alpha, MS PDT, AQR and Citadel back in 2008.

This is a very bad attitude to have, but seeing these guys who were at the top of their game just blow up makes you wonder how much of this is luck or skill. I don't know what's the point of even talking to other people. (Add to that the fact that banks are falling over each other to spin off their prop operations.)

I guess you could grind it out day after day, but a lot of us want to get into this business to hit home runs. And you could always do poker or IBD if you want to grind it out.

 
chewingumI have sort of a mental block when it comes to networking. I'm interested in trading (for the excitement and $), but so much of it seems to be guesswork.

Monty since you're an energy guy you can relate to this - take Amaranth v. Centaurus for example, basically betting in opposite directions on natural gas. Smart people with good track records, and it comes down to being lucky. How about prop traders, Boaz Weinstein has 10 good years then loses $1.8B in 1 year. Christian Siva-Jothy hasn't been doing too hot after breaking away from GS to start his own fund. How about quants? Massive drawdowns in GSAM Global Alpha, MS PDT, AQR and Citadel back in 2008.

This is a very bad attitude to have, but seeing these guys who were at the top of their game just blow up makes you wonder how much of this is luck or skill. I don't know what's the point of even talking to other people.

I guess you could grind it out day after day, but a lot of us want to get into this business to hit home runs. And you could always do poker or IBD if you want to grind it out.

i tend to agree but you have to take in account that you are talking about very smart people. They pick a side and put their money behind it. Well they tend to win... they lose from time to time.. does not make them bad traders but you have to have chips on the table if you want to play.

 

Also want to add that I mean no disrespect to anybody. Look at how many people are even capable of compiling track records that can get them that much money to lose...not a lot. I guess my point is that even IF one is able to make it to that elite circle of traders (the chances of which are minute), how do you square with yourself? I wonder if they ask themselves, did I make all that money because I was smart and right, or did I get lucky?

 

Yeah, that's what I meant; I wasn't implying it would say:

"Participated in Morgan Stanley's financial recruitment and networking seminar"

What I meant was that you and those other WSO members should name your group because it's difficult to write:

"Participated in John Doe and Joe Schmoe's financial recruitment and networking seminar"

"If you can count your money, you don't have a billion dollars." - J. Paul Getty
 

I GO TO TEXAS TECH AND GOD YES I WOULD PAY FOR THIS. EVERYDAY I DIE WORRYING ABOUT HOW THE FK IM GOING TO GET INTO BANKING FROM THIS SCHOOL.

 

@Solidarity Effective networking is easier said than done. I graduated college in 03, got my MBA in 06 and I have old classmates on fb and linkedin contacting me out of nowhere to "network", once they found out I work at a bank. My advice to any college kid is to be nice to everyone bc the person you disrespect today might be the ass you have to kiss tomorrow. Don't wait until you need to network to start networking.

@monty. I would first focus on finding some real movers and shakers and then up the admission price. Once word gets around that you're not selling a bucket full of dreams, people will gladly pay that.

 

I wouldn't. Strategically, why would I want to pay to be in a room packed full of competitors. When I used to be an undergrad at Penn I would go to all the career presentations until I eventually realized most were pointless and reviewing for midterms would be a better use of my time.

 

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