Coffee Chat With CFO of BB
Hi All,
I'm a 4th-year Electrical Engineering student at a non-target in the Northeast and am currently interning at FAANG as a software engineering intern, graduating in December with a 3.9ish.
I've enjoyed reading threads on WSO which ultimately spurred me to cold-email a bunch of people at different BBs. I honestly didn't really expect any responses, but, to my surprise, a CFO from one of the BBs responded and agreed to a phone call which is happening this Thursday.
Outside of losing large amounts of money on the stock market and thumping my chest a la Matthew McConaughey, I basically have no financial knowledge.
Despite having I guess some success in Eng, I really dislike the software and hardware internships I've had, and IB sounds pretty cool, so I'd like to try it if possible.
WSO, what can I do to parlay this into a full-time job/interview for an IB gig?
Appreciate all the help!
I’m not expert here as i’m only a 2nd year student at a non target and about to start IB recruiting. I was in ur shoes before, having barely any finance knowledge. Not to say that I have an abundant amount now, but I think I have the basics down. These are some things I regularly still ask/say in networking calls. The most senior calls i’ve had were with CFO’s, COO’s, and senior managing directors. Take everything with a grain of salt.
- First, most senior folks are either super nice or very mean (in my experience). I’ve had calls where i’ve been cursed out and yelled at and calls where these ppl wanted me to get informational interviews and actually got me sophomore programs at their respective firms (both actually true).
- Second, make sure to call them Mr./Mrs. at first. If they say to call you by first name then drop the Mr./Mrs. act. Some people find it super offensive if u don’t call them by Mr. and others think it’s weird if u don’t call them by their first name.
- Third, make sure you thank them for their time. What I usually say is , “To start off, I really wanted thank you for your time. I am sure you are fairly busy, and it means a great deal for you to speak with me”.
- Fourth, I personally wouldn’t ask these ppl technical questions. The higher up u go the more it is about sales and reputation u carry for the firm. Ask them things like “where u see urself in 5 years, why X firm, describe your leadership style, etc”
- Fifth, probably the most important one. SOUND ENTHUSIASTIC. These ppl love when u have genuine care for their work assuming they aren’t stuck up and mean. Laugh a bit when appropriate and have a smile thru the phone (yes ppl can tell when u r excited)
- Sixth, try not to use any ums or likes or you knows in your call. It’s hard at first but u can’t sound like a moron.
- Seventh, research as much as possible about the person and firm as u possibly can. Read up on basic concepts of IB and some key phrases.
- Eigth, be confident. When a person senses confidence in an answer they believe it more (atleast i think so). If you say a lot of ums or likes when asked why IB, they won’t believe u. When you are clear and confident in ur answer, they will like u.
- Ninth, try to ask them for a resume push at the end of the call. This is basically the only reason u wanted the call in the first place if we r honest. Say something along the lines of “It was great speaking with you and learning more about the firm. Would it be alright if I emailed you when I submit my application to your firm?” or if the call is going amazing i would say something more direct.
- And for the love of god, do not mix their firm up with someone else’s.
There is a lot more stuff i can type out, but these are the basics i keep in mind. I have networked with 175+ ppl since freshman year of college, and these tips help me for the most part (no joke, but first 50-75 calls sucked as I didn’t know how to talk to professionals lol). Take what I said with a grain of salt. Monkeys, please add more to this if anything come to ur head. good luck OP!
Not really a comment about your reply but wanted to say this was an excellent reply.
+2
Dude, thank you so much for all this, I really appreciate it.
Only thing I would add to the above comment is to prepare a brief “walk me thru your resume” to offfer up after thanking them for their time so they have some basic background on yourself i.e. “I thought it might be helpful if I gave you 30 seconds on myself and my background to kick things off”
Forgot about that, good point
Yup. Senior people always want to know “who they’re speaking with”. Don’t ramble but give a brief enough background so they can know who you are a tiny bit and why you’re calling - “I grew up in X and went to school at y, study engineering and previously interned here, because of __ and ___ I’m now focused on careers in IB and would love to learn more about you and X bank”
I will definitely prepare a short intro like this, thanks for the advice.
Thank you
Stick to thematic questions. Rich Handler did a Q&A on Insta that I think should still be saved in his highlights - take a skim and steal any of the really good questions.
I would personally stick to an advice call instead of asking him to push your resume or advice on landing IB etc. Down the line you may be able to ask for that, but the main goal here should be impressing him and having a good conversation rather than landing anything out of it. He gets why you are calling and may bring it up himself, but IMO this is like straight up asking a girl to sleep with you on the first date - it's a privilege to talk to someone so senior, don't end the call by seeming like an internship is all you wanted
And obviously send an incredibly nice and humble thank you
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