Hi, I recently started working at a small L/S hedge fund. What would be the best approach to network with sell side analysts and PMs to learn more? I have been trying LinkedIn but it is not yielding much results.
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Ah, networking, the art of mingling with the jungle's finest to climb those corporate trees! Here's some ripe advice based on the most helpful WSO content:
Get in Front of PMs/Analysts: When you're on the sell-side, it's crucial to build relationships with buy-side folks. Since you're already on the buy-side, try to leverage any sell-side research to gain additional color on a company and use that as a conversation starter.
Networking Post-Quarantine: Suggest grabbing a drink or a coffee to get to know them better. Face-to-face interactions can be more fruitful than online messages.
Discuss Interesting Names: Be prepared to talk about companies you may not cover but find intriguing. This shows initiative and a proactive approach to your work.
Networking Calls: At the end of a call, always have an "ask." It could be about open positions, future opportunities, or referrals. This ensures the conversation has a purpose and could lead to more concrete outcomes.
Cultural Fit: Use conversations to gauge whether you'd fit in with their culture. If you're a slow, deliberate thinker, for example, you might not enjoy a fast-paced environment.
Persistence: Networking is often a numbers game. Keep reaching out, and don't be discouraged by a low response rate.
Show Genuine Interest: When you do get in touch with someone, focus on having a natural conversation rather than trying to impress them with knowledge. Be curious about their experiences and insights.
Trade Your Own Ideas: If you get friendly with a PM, don't hesitate to pitch them. It's a way to win respect and get noticed if done correctly.
Remember, networking is like swinging from vine to vine – it takes practice, timing, and a bit of courage. Keep at it, and you'll find your tribe in no time!
Sources: Network (In)to The Sell-side - How to Source Job Leads and Charm the Interviewer, Ask Me Anything : Anon1254, Breaking into buy-side equity research - my experience, https://www.wallstreetoasis.com/forum/asset-management/qa-equity-research-analyst-at-top-3-am?customgpt=1, Networking with the buyside
Do u live / work in nyc or like another major city- If so there are like sell side events every night of the week basically - go out with sales / publishing analysts / sector specialists
I always felt like it was easy to follow up with other analysts I was on dell side zoom calls or at conferences with
Yeah understandable, Unfortunately, I don't live in a big city, hence not sure how to get in touch with the analysts.
Why are you trying to network with sell side analysts and not buy side analysts? Buy side analysts are often far more skilled than sell side analysts, and buy side analysts could actually help you get a job on the buy side if you needed to make a change
Try chatting to sell side analysts you like on Bloomberg or emailing them.
Do you have budget for conferences? That’s the main way to meet people. As a small fund in flyover country you probably won’t be able to get calls regularly with analysts or go to these networking dinners hosted in NYC.
Also remember you aren’t a student anymore, best way to make connections is to give people great ideas that work. Meet a guy at a conference, pitch him an alpha pair, he’ll want to chat more and make intros.
Thank you for the advice! I am allowed to join the webcasts for these conferences. I do that regularly.
Webcasts are cheap and free but you ain’t meeting anyone. The drinks after meetings are to a degree more important than the meeting itself when you’re building a network. I was sent to events as a junior explicitly to make friends, that was seen as an investment in my human capital
I do 3-4 company site visits a year and have met a ton of buy siders in the space that way. I hate NYC hedge fund idea dinners (all pods, all bullsht ideas) so avoid them like the plague.
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