Networking 101 – 8 tips from a “non-target” school student

Journals of a "Non-Target" University Student

Networking in the Finance or Investment Banking industry is incredibly difficult. Whether you’re a rising sophomore trying to get your hand at any bank or company that will take you on as an intern or a graduating senior in a rush to secure your final internship or job that will kick start your career, networking is the key to getting there. But it’s not always easy, especially if you’re from what the Wall Streeters call a “non-target” university.

After months of research and testing different strategies I’ve compiled a list of unique networking concepts I think could take anyone’s networking to the next level. While I won’t give you a comprehensive step-by-step (that’s something you have to personalize to your strengths), this list will help you turn your networking into effective job-securing strategies.

Your Contacts

Building and compiling a list of warm connections that you can contact is pivotal in developing an effective networking method.

1. An important organizational strategy is building a list of contacts in an excel document and sorting each contact by defining characteristics. This is usually high value conversational information such as similar interests and hobbies, alumni status, or interesting career accomplishments. This helps you organize thoughts and conversational directors to effectively appeal to your connection.

2. Compiling in an excel sheet is especially beneficial because it optimizes self analysis process and monitoring results of each strategy you deploy. For example, if a certain networking template works incredibly well with bankers from a certain bank or state but only in that bank or state then I know to change strategies for potential contacts outside of those characteristics.

3. Finally go beyond the easy list. It’s common knowledge to use university alumni, former internship coordinators, and family or parental connections but most people will stop there. That’s usually not enough, especially if you come from a “non-target school.” Taking it a step forward and browsing through 2nd/3rd connections on LinkedIn to find bankers that to connect with by leveraging similar interests, LinkedIn posts, or career paths can revolutionize networking strategies

Building the Network

Now that you have a solid list its time to get up and network.

4. Creating the perfect template isn't the goal. It's to create a few great ones. You'll never find the one emailing or networking template that lands you every job or internship you want, but you can find 5-6 that work incredibly well. Your goal is to leverage those in a variety of situations based off the analysis you do as described in our first tip. There are plenty of templates out there that tell you exactly how to communicate effectively and earn a respectable return on networking, I recommend parsing through them and finding the top 5 templates you like to develop your personalized strategy.

5. Networking is about maximizing your initial outreach. Connections must mutual, not one sided. So what makes it interesting or valuable for potential connections to talk to you? The first step is playing your strengths. Do you work best in person or over email, are you spontaneous or do you prefer refining your discussion topics? Understanding these nuances can help you steer conversations onto your playing field. For example, if you’re better at creating connections in person than leverage that by setting up a coffee date. If you’re better at online networking than keep the connection to calls and emails.

Developing meaningful relationships

While having a network is incredibly important it doesn’t really mean anything unless you can transition those key short-term connections into meaningful long-term relationships. Keep in mind, we’re not building personal but business relationships so our goal isn’t to become their best friends, rather to engage with them in a professional manner.

7. Professional relationships come from a sense of mutual respect and value that you have to build on your own. Developing those requires a keen and rigorous demonstration of interest in self growth and career development, understanding of your industry, and respectable charisma are the basics that make up networking. Connections want to know that if they're investing resources into you, that you'll be able to leverage those resources effectively.

8. Finally displaying consistency is incredibly important in transitioning potential relationships from the initial rapport to long term connections in your network. Keep in contact. Follow up every 2-3 months with individuals that seemed interested in you. Send emails, set up coffee chats and phone calls, or even send a text message (if they’ve given you their number), anything to help remind connections about you and your interest in them and the industry. The relationship is professional so keep the conversation directed towards your career growth, industry trends and standards, and mini-asks (resume editing, career advice, etc)

~ That's my take on the topic I'd love to hear y'alls tips and thoughts on these strategies

 
Best Response

yep I agree w/ the excel spreadsheet tip. when I was a freshman a senior in the finance club showed us his laptop - detailed spreadsheet of 100+ places he's applied to w/ all sorts of info.... its a numbers game one would argue. good tip.

i'd also argue it would be good to get to know the people that work in one's OCR office. getting to know them and having them in your, so to speak, 'corner' can be a good thing.

i'd add branding oneself, its is important b/c when you get to superdays everyone there can arguably do the job, its just a matter of how well you can connect to the interviewers. for some that connection could be going to the same school as the interviewer, it could be an inspiring story of going from a 3.0 freshman gpa to 3.7 by senior year, it could be on how you're big into volunteering / being well-rounded, and for a select few it could be simple name-dropping to the interviewer. to each their own I suppose.

 

I definitely agree with branding. Building a mutual connection is incredibly important and I think leveraging platforms like Linkedin to get a better insight into the minds of potential connections allows you to more effectively steer your branding strategy towards something that becomes appealing to interviewers and connections alike.

 

Not really sure how long this is sustainable.

I'm from a non-target and I met a Columbia professor + Columbia MBA at a CFA Society event. I read his book and reached out to thank him for writing it , he stopped responding after 2 emails. And this was just a book he wrote that was at the center of discussion.

People that matter don't really like to spend time on people that don't matter imho.

D.I.
 

It's all about breadth I think. You're right of course most people at that caliber of success don't usually have the time, interest in helping students or individuals attempting to further their career. But what you've got to remember is all it takes is 1-2 positive responses to help you achieve your goals. Keep at it eventually you'll find he positive relationships that keep their interest. Also I like to use failed relationships as an opportunity to be self reflexive. Look back at conversations, events etc and see what you could have done to keep the mutual interest constant. Obviously sometimes that's not always possible but most of the time there's opportunities for effective improvement in your networking strategy!

 

Here is a story for you. 65 y.o., former Head of Global ER @ Credit Suisse. He landed me an interview with Jim Simons' family office. (which didn't go anywhere, unfortunately).

My referral to him was really far-fetched but he seemed to appreciate my attitude. Met with him for lunch about 3 times. We never discussed work or finance, only economy, politics, and art. When I asked for help, he didn't hesitate, saying I was a "great guy".

Caliber, selfishness or even the setting doesn't really matter, as long as you're coming with an attitude.

"The strongest of all warriors are these two - Time and Patience" (Leo Tolstoy)
 

Really impressed by your hustle and positive attitude -- keep up the great work! Looking forward to hearing where you end up.

 

Thanks dcrowoar!

I have been getting a few messages asking more details about my academic background. I guess part of my success rate can be attributed to my actual stats: high GPA, high test scores, above average involvement, and part-time job. I do think this comes with the territory though. MBB already has an school brand elitist culture (I think more-so than even BB IB), so you really have to show that you're going above and beyond in as many categories as you can. However, I also think another huge factor has been my ability to convey enthusiasm and willingness to learn in my emails.

Feel free to continue personal messaging or commenting here if you have any questions. Thanks :)

 

Or you can just take the heaviest hitting senior broker at your office out to lunch, pound some brews with him, and tell him his last deal w Macy's was childish. Then you'll get to hear how he rose to the top AND you'll score a free buzz (he's paying of course, cuz, grandeurity).

“Bestow pardon for many things; seek pardon for none.”
 

Let's get some good juices flowing in here.

Came from a non-target from the NW, had the option to do FP&A for F500 companies or Big 4 advisory (region). Decide to risk it and came to NYC and work for a small consulting firm that does Financial Advisory. First client was at a MM and recently got into contact with a PrimeBrokerage (PB) MD by the sheerest of luck.(will update if things pan out well)

Always hustle, because someone else is. In a big metro city like NY, brand name school matters. But more importantly, bring the right attitude, a solid work ethic and a set of cajones, be prepared to make a name for yourself.

i'm not smart enough to do everything, but dumb enough to try anything
 

Hi guys, I'm a freshman at a non-target state school with a decent business program. Finance major now, but looking to add Accounting or Information systems to that. Don't have an internship this summer, but will be working at the same summer job that I have been at for the last 3 years. What advice do you have for someone in my shoes? Also a linkedin page for this thread would be great.

 

Connecting on LinkedIn sounds like a good idea. For an intro I am a first semester MS in Finance student at a school in DFW. I previously worked for an NHL and NBA franchise. After working long hours and poor pay, I figured out that you actually get compensated for the time worked in the world of finance so I am now back in school. As others have mentioned I have quickly figured out that networking is the way to go and made contact with some alumni that work at MS, several Hedge Funds and some MD's at smaller funds. If you really put in the effort to look for alumni you might be surprised to find people that you wouldn't have found just by relying on your Career Center at school. A lot of people fall through the cracks.

 

I'd like to join this group as well. Here's a brief intro. I'm currently working at a boutique investment bank in the south. I got accepted to a few good state schools, but decided to take a scholarship at a non-target school. When I graduated I worked at an investment management firm at first, but networked my way into a boutique.

@"ValueBanker14" @"MJK" I want to ask you guys something. I'll PM you guys.

 

Hey guys I am a Junior at a non-target in the New England area. Studying finance and currently interning at a large custody bank for the past 5 months. Iv done two other internships, one in M&A and the other an accounting internship at a large construction firm. This next few months will be big for me in trying to get into the industry. What advice do you guys have for someone in my position?

 

Hey guys, new to WSO, but I've been reading for a while, and loving this already. I'm a rising sophomore at a non-target. Currently working a summer internship and heading to China for a program later in the summer. Looking to meet people for advice and discussion on breaking into IB, and networking with those non-target hustlers like myself. I am very interested in making a linkedin group for this/joining one if there is one already!

 

Hey all,

Been reading these forums in my downtime and am loving the energy. Really fires me up to be a Finance major. That being said you guys seem really helpful and I would appreciate some advice.

I'm at a semi-non target school with a 3.7 GPA. Right now I'm in a summer internship for BAML Credit Risk. I've had two other past internships in boutique PWM and BO at a MM bank, respectively. I feel like I have a good foundation of experience but am a bit all over the place.

Using what I have, where do you guys think I can take this? Ideally I'd want to do BB S&T/IBD but feel as though my chances are slim UNLESS I could leverage my networking here at BAML. Do referrals work between offices or would I have to know someone directly on the desk? I see this risk internship as a stepping stone and am wondering how I could use this as leverage in some way since I'd like to move into FO.

If you guys have any insights I'd appreciate any wisdom you can throw my way.

 

I'd like to join this group as well. Quick background, I'm from a non-target school in Queens NY, rising junior and a Finance major looking for networking opportunities. Since I'm an international student (I know, I just made it this much harder for myself to land an internship in a BB), I've been looking for ways to land work experience and reach out to others in similar situations. I'm open to any tips/ suggestions and really looking forward to talking to you guys here!

 

I would also like to join the group. I will be attending well respected, but small and a non target, Liberal Arts College on a full ride. Majoring in Economics and a possible major in Computer Science. Very eager to talk to and learn from everyone as well

 

Hello all - looking to join the group here.

Quick story about me: I've recently graduated from a non target, 3.76 GPA majoring in Business Management. I've had the opportunity to study abroad in Shanghai, China and have 3 internships to date:

  1. With AXA Advisors training under a financial consultant
  2. Working for a Chinese business website that reported on Chinese economic, political and technological developments
  3. Working for a Venture Capital Fund my University is starting

I've been interviewing all around but am curious on if I should hold out for the recruitment drives of the major firms that begin in the fall - and bide my time with some WSO Training courses (primarily financial valuation and modeling).

Would love to hear some feedback.

"Hope, the quintessential human delusion. Simultaneously the source of your greatest strength and your greatest weakness."
 

Hey all,

I would like to join this group as well, I'm a upcoming junior and I go to a large public non-target school near Oklahoma City. Right now I'm interning at a small firm(non-finance) and would love to meet new people for advice and networking.

 

I am a sophomore attending a nontarget in the state of Pennsylvania majoring in Finance and Accounting with minors in economics and math. This summer I did an internship for Ernst and Young, but after the internship concluded, I decided that I'd like to explore investment banking more so than accounting. I'd love to hear about others' experiences and what they've done to reach their goals.

 

Chicago native looking to break in to the industry. If there any other locals out there in the WSO universe, please PM me. I'd love to network.

A little background: •Graduated with a BSc in Finance back in 2011 from a school in Chicago, above a 3.0 but nothing to brag about. •Was active in the school's Student Finance Association •I've been working as a Financial Analyst for over two years now, not anything bank-related (small company first out of school, now a large health care organization.) •Unfortunately no relevant internship exerperience.

 

Definitely interested. I'm coming from a non-traditional background, with my education plans not settled but most likely school I'll be matriculating from is a non-target for finance, but very well connected and respected MBA program....so being able to use that network effectively is going to be the make or break factor for me.

 

I'll give this a shot to jump start the conversation. About me: currently in a Business Development role with a F500 O&G company (Equipment and Services...one of the majors) with a non-target, dual background in Finance (Energy focus) and Supply Chain Management. Finished a 2 Year Leadership Development Program prior to my current role in Biz Development.

My main focus is to transition to IB and as such, I've reached out to various people in Investment Banking and have been told to aim for BBs, get an MBA, or find someone else that is hiring because they are currently fully staffed.

What do I bring to the table? I have experience with sourcing for M&A deals and opportunities, I've also presented findings to executives and understand my sector well. Currently I am taking some courses online and going through an Investment Banking book to brush up on my finance and modeling skills.

Any tips or suggestions would be greatly appreciated for someone looking to joining an IB. Thanks in advance.

 

Hello everyone, I am a junior at a private, non-target in Virginia and am looking to network with anyone in finance with an emphasis on private equity in the Charlotte, NC region.

Thanks!

“Let me issue and control a nation’s money and I care not who writes the laws.” Mayer Amschel Rothschild Don't be afraid to give up the good to go for the great.-John D. Rockefeller
 

Thing is, if you're from a non-target you need another reason that people should talk with you beside that they're coming to your school.

Some non-targets have great alumni networks. Great. Use them.

If not you need to find something else. It's easier for me because I'm a veteran, and the veteran network is extremely powerful and responsive.

You don't have either? make something else. Join a fraternity: that's a great way to tap into a "universal" network with people from all sorts of different schools at different firms. Participate in large charitable organizations, that's another commonality you can build. Play a sport: if you've got the balls for it, sports like Rugby or Badminton can be a great way to both put sports on your resume, have fun, and build a commonality with the (surprisingly large number of) athletes on Wall Street.

Even being a non-target itself can be a great commonality for some people.

Just make sure that you've got some "hook" that makes you interesting. Even that can go a long way

For example, I'm in the process with a well reputed MM firm, with zero networking or OCR opportunities done, simply because I had something very unique in my background that caught their attention. Not that I'd recommend counting on that happening but you will need that to make people move the cursor up towards"reply" on that email.

 

Hey guys,

Any older recent graduates here? I just finished school in Feb and moving to the Boston area soon for better chances of landing a job in IB/AM. Anyone in a similar situation? Would love to network with you guys if possible.

 

Tail of the tape: Undergraduate (life sciences) Worked in the pharma/biotech/technology industries Graduate (MBA class of 2015 non target school) Looking to break into the financial industry (Ideal Asset Management) Currently offered Financial advisory role but have to study/take the exams for series 7, 66 and life and health insurance (non sponsored have to pay for myself).

Any help would be very helpful.

Want to Lose the body fat, keep the muscles, I can help.
 

I had trouble finding you guys on linkedin, there are others which use the same name, can you include the link? Plus the ones that I found do not have a group to join only to follow.

Thanks!

Want to Lose the body fat, keep the muscles, I can help.
 

I think this is great.

I'm going to be a junior at a non-target in the South, our career center is not the best. Finance and Accounting double major with 3.8 GPA. Currently working a summer internship at a F500.

Still trying to decide what I want to do, whether something in finance or accounting.

If there are any professionals that would like to share their story please do!

Would love to connect with everyone here!

 

At the end of the day, we're all selfish, and if someone is going to help you, there is at least, perhaps in a minimal way, some selfish benefit to them. Maybe a VP getting you a job or interview will make him feel good about doing something good for about a day or two. Maybe you remind an MD about himself when he was younger. Maybe an alum wants to get more guys from his school and show his colleague that went to a rival school whats up and that his school's analysts are the best. Even if someone does good for you, there is something that they take away from it. When you give a homeless guy a dollar, there is some level of consumption to it. You saw his face, and for the next 25 minutes you feel good and that dollar that you spend giving it to him is almost some sort of "happiness" that you are buying for yourself.

Figure out what selfish benefits the other person will have when they help you, and capitalize on it.

We're not lawyers. We're investment bankers. We didn't go to Harvard. We Went to Wharton!
 

You have informational interviews over the phone with as many people as you can, then when you've spoken to a lot of people, follow up with them in a couple of months and say you're interested in planning a trip to NY to meet with them. Schedule all the coffee calls over a span of one week.

There are a lot of guides on this. Yes, it'll cost some money to fly out and meet all of them, but they'll see your dedication, and as long as you're doing well in school and having good conversations with the people you meet, it'll probably be worth it in the end.

 

Follow up/piggy back question: What if my school doesn't offer an alumni network and searching on my own hasn't produced any people in the financial industry with any clout?

Hoping for hedge life.
 

Adding up to the spreadsheet point - use your calendar apps to set follow-up reminders. Schedule them a year ahead, and stick to the game plan. Attach e-mails to those reminders, so you never lose track of the conversation. If you spoke in person - make notes, and open your follow-up on those.

I also recommend using the same routine for your job applications.

"The strongest of all warriors are these two - Time and Patience" (Leo Tolstoy)
 

I was also a student at a non-target in the Southeast. Ultimately got my door in because of an alumni working IB. He was impressed that as a sophomore studying at our infamous party school, I took the time and effort to find and connect with him. Chances are, unless if your school really is completely non-target to the extent that it's nearly unknown, there's bound of be some people working either on the street or with experiences on the street. Reach out and don't be afraid. Especially since you're from a non-target, it's expected that the few alumni on the street wouldn't have as many students knocking on their LinkedIn page, as opposed to in HYP.

Join the investing/finance/banking club in your school, or start one if there's not an active one. Keep a nigh-perfect GPA. Be casual when talking to bankers (especially the upper level ones). Polish up your story. Join the CFA society or any other major event around your city (this is in spite of the fact that you will most likely never get the CFA, but I digress).

 

Beggars can't be choosers man. Why are you so set on IB? Lots of kids would kill to have potential contacts in ER or S&T.

Networking is more than just asking someone to help you get a job. Go to the other guys, say you are interested in banking but you want to learn more about ER, S&T, whatever. Give them open, unbiased ears and see what they have to say. Maybe they will tell you something you didn't know about ER/S&T that you might find interesting. And if you meet with them and afterward are sure that you don't like what they do, tell them that you aren't sure if you are definitely interested in that field, and ask them if they know someone in another area that you could talk to.

looking for that pick-me-up to power through an all-nighter?
 

Talk over the phone or meet in person if they work in your current city. After you know them a little better then ask for any possible summer opportunities.

Roll Tide

"Better to remain silent and be thought a fool than to speak out and remove all doubt." --Abraham Lincoln
 

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The heights by great men reached and kept were not obtained by sudden flight. But they, while their companions slept, were toiling upward in the night. -Thomas S. Monson
 

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