CRM for IB networking?
Undergrad IB recruiting has gotten so competitive these days, and yet everyone I see is still using Excel to track networking/applications. Curious if folks would pay for a simple CRM tool that allows you to track networking, provide follow-ups, and other IB-recruiting specific functionality?
My theory of the case is that IB recruiting is such a high-leverage moment in your life, that spending an incremental few hundred dollars (subscription cost over 1-2 years) is very high ROI if it even leads to 1-2 incremental real connections made, which should be possible if a clean CRM eliminates even some of the edge friction.
Curious if anyone else has thought of this before? I know personal CRMs exist but nothing IB specific.
Based on the most helpful WSO content, the idea of using a CRM for IB networking is not only viable but could be a game-changer for undergrad IB recruiting. Networking is a critical component of breaking into investment banking, and tools that streamline the process can provide a significant edge. Here are some insights:
Existing Tools and Gaps: While many candidates still rely on Excel, there are mentions of tools like Hubspot (free CRM) and Waalaxy being used for networking at scale. These tools help track emails, calls, and follow-ups, but they are not tailored specifically for IB recruiting.
High ROI Potential: Your theory holds weight. IB recruiting is indeed a high-leverage moment, and a tool that reduces friction in networking and follow-ups could lead to incremental connections that make a difference. The cost of such a tool would likely be justified if it helps secure even one additional interview or offer.
Key Features to Include:
Market Need: The competitive nature of IB recruiting, especially for undergrads, creates a demand for tools that can provide even a slight edge. A CRM tailored to IB recruiting could fill a niche that general-purpose CRMs do not address.
If you’re considering building such a tool, focusing on simplicity, IB-specific functionality, and affordability would likely resonate with your target audience.
Sources: I got an offer, heres how you can too! (MM NYC), Want to get me on the phone? Here's how - a networking overview., The Best Networking, Cold Calling and Cold Emailing Posts on WSO, https://www.wallstreetoasis.com/forum/investment-banking/non-target-to-bb-ib-sa?customgpt=1, On Campus Recruitment and Networking: A guide
Agree with your point on ROI. It sounds like a good idea, are you thinking of creating one yourself? I’m recruiting for IB and I have an extremely large and intricate Excel file (two sheets, emails and calls) with various functions and formulas. It was a process to create (I didn’t just make it all at once - I tweaked it as I went, creating new columns or doing conditional formatting based on what I thought would make my life easier) and it’s a pain to manually update it every time. It also makes my laptop lag like crazy every time I open it. The one upside to creating my own tracker is full personalization. Hard to explain in words but I could send / upload a picture if helpful
Yep - I'm current associate in IB in a chill team so have some time to work through projects in my free time.
Would love to connect if you're open, I went to a nontarget so my idea of how the median student networks is a bit hazy. And my own networking journey was probably not as tight as the best students.
Yes, I’d love to connect! Feel free to PM. I also go to a heavy non-target.
Sent you a PM
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