What to ask in coffee chats?
Hey! When networking with PMs or analysts at both SM and MM firms, what kinds of questions do they generally respond best to? Would it come across poorly to ask more foundational (or I guess basic) questions, like their process for generating new investment ideas? Would they prefer more specific or "advanced" questions?
My goal isn’t to ask for a job, which I know is pretty common in networking, but rather to build a genuine relationship and just learn as much as I can from these professionals. Any advice helps, thanks!
When networking with PMs or analysts, the key is to ask thoughtful questions that show genuine curiosity and respect for their expertise. Based on the most helpful WSO content, here are some tips and examples of questions to ask during coffee chats:
1. Focus on Their Experiences and Insights
People enjoy talking about themselves and their journey. Asking about their experiences can help you build rapport: - "What initially drew you to this role/firm, and how has your perspective evolved over time?" - "What do you find most rewarding or challenging about your current role?" - "How did you develop your investment philosophy or approach?"
2. Ask About Their Process and Expertise
Foundational questions, like their process for generating investment ideas, are perfectly fine as long as they are framed thoughtfully: - "How do you typically approach generating new investment ideas? Are there specific frameworks or strategies you rely on?" - "What trends or sectors are you currently most excited about, and why?" - "How do you balance conviction in an idea with the need to remain flexible in your approach?"
3. Show Interest in Their Industry Knowledge
Demonstrating curiosity about their industry or market insights can lead to engaging conversations: - "What do you think are the biggest misconceptions about [specific sector/market]?" - "Are there any recent developments in the market that you think are being overlooked or misunderstood?"
4. Learn About Their Career Path
Understanding their journey can provide valuable lessons for your own career: - "Looking back, is there anything you would have done differently in your career?" - "What advice would you give to someone looking to break into this space?"
5. Build Genuine Connections
Ask about their interests outside of work to humanize the conversation: - "What do you enjoy doing outside of the office? Any hobbies or interests that help you unwind?"
Additional Tips:
By asking thoughtful, open-ended questions and actively listening, you’ll leave a positive impression and build a genuine connection.
Sources: Good questions to Ask in Coffee Chats for Investment Banking, Want to build a startup & raise some money? Part II, What Do You Even Do During Coffee Chats????
General coffee chat recommendations
1. Don’t ask questions that sound like you ripped them off the internet or ChatGPT. Everybody asks them and they’re usually not even helpful. They’re generic questions but you want to be specific to them AND you
2. Frame it as asking for advice. There’s no shortage of people looking to give it
3. Ask good follow ups that flow with the conversation. Just asking prepared questions makes it awkward/rigid and can make it seem less genuine
Also don’t be afraid to take a casual or personal turn (just be mindful). If your goal is truly a genuine relationship, think of it as “making friends” instead of “networking”
Just bullshit with them talk about sports and college. Have them live vicariously through your youth.
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