Dealing with Follow-Ups in Networking for Lateral IB Roles
Hey everyone,
I’ve been trying to lateral into investment banking for a few months now and could really use some advice. I'm a few months out of school, working full-time, and have been putting in the effort to network and cold-email people in the industry.
A few times, I've had VPs or MDs refer me to an analyst or another team member to set up a call. Most of the time, this works out, and we get the call scheduled. But occasionally, after being introduced, the person doesn’t follow up, or respond to me reaching out to them after the MD email asking to set up a call and I’m left wondering what to do next. It feels awkward to go back to the MD and say, “Hey, the analyst hasn’t reached out yet.” I’m stuck on how to handle these situations without coming across as pushy or annoying.
On the flip side, I’ve also had cases where someone does set up a call, we have a good conversation, and they respond to my thank-you email, but then they don’t follow through on what they promised—whether it’s forwarding a contact or sharing information about the recruiting process. I know they might not have any updates, but it’s still frustrating because it feels like I’m hitting a dead end
Any advice on how to navigate these situations would be greatly appreciated. How do you keep the momentum going without overstepping? I don't want to come across as desperate or a jealous ex, but this honestly feels like it. And I have had this happen to me at every major BB/EB, which means I am getting traction but none of that is converting to any interviews or opportunities. I do understand that the job market for lateral is nonexistent, but is that bad, or am I doing something wrong?
Thanks in advance!
tldr: Not trying to complain; my question is really about how to follow up with these people who were referred to me or forwarded without seeming dumb or desperate, and not having to go and complain because neither option works well for me in the end and i get the boot anyway and I know they dont want to talk with me sometimes and have to because they are being forced to
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Bumping for visibility
Based on previous WSO threads, here are some strategies to effectively handle follow-ups in networking for lateral investment banking roles:
Handling Non-Responsive Contacts
Polite Persistence:
Leverage the MD's Name:
Maintaining Momentum After Initial Calls
Scheduled Follow-Ups:
Express Gratitude and Patience:
General Tips for Networking
Stay Organized:
Be Respectful of Their Time:
Offer Value:
Network Broadly:
By following these strategies, you can maintain momentum in your networking efforts without coming across as pushy or desperate. Remember, persistence and professionalism are key in building and maintaining valuable industry connections.
Sources: How do you continue a linkedin relationship?, How To Really Network And Land That Offer, Non-Target to MM IB: My Advice, Associate at a small bank, didn't get offer at BB internship, what do I do now?, Guide to Lateraling in 2021
I’ve had someone do the same to me. It turns out she just forgot at the moment and forwarded my resume when I followed up with her when recruiting kicked off
Yeah, I know people tend to forget. I am going through a An lateral process, so it's less structured and not really a kickoff, more on a need basis.
I wouldn't take it too personally. Some analysts are just jaded and don't do networking calls, even if their MD tells them to.
I don't think there is anything wrong with following up once with the analyst and then saying to MD "Hey, have not been able to connect with JohnDoe to find a time, but still very interested in joining the team. Is there someone else you'd recommend speaking to?"
You can also reach out to other people in the group yourself if you hit that dead end. It's more of a warm intro anyway if you say "I've spoken to JohnDoe and PeterPiper, was hoping you might have some additional insight"
Also some of this may be just that these groups are not hiring, and MD may not have much visibility into the puts and takes of junior hiring. Are you networking with groups with open roles posted, or just shots in the dark? I would stick to groups that have active roles open as people will be able to redirect you to that team quickly. It's a fool's errand right now to try and lateral by having a thousand convos with groups that have no hiring budget for the rest of the year.
Thanks for the advice—I appreciate it. I’ve noticed that some analysts on these calls seem either tired or overworked. For one of the groups I mentioned, I did exactly what you said I said I should: after the analyst didn’t respond, I reached out to the staffer, thanked him for the connection, and mentioned that I enjoyed the conversation with the analyst and look forward to staying in touch. I plan to keep in touch and see what happens when their recruitment process opens since none of these places have open positions. I understand it’s a tough market,
I hope to secure a spot when they start hiring for the 2025 class in September or October. Since I graduate in December, I aim to land a position early or maintain these connections for a future lateral role.
Since I am focusing on specific sectors and product groups esp at some of the EBs, which are pretty small and specialized, my concern is that, because these teams are so small, I might come across as too annoying or piss people off if I keep emailing or follow up too much. In one instance, the MD CC’d five people, all of whom were VPs or senior associates, who he specifically mentioned managing the recruitment process and then asked me to follow up with one of them specifically for the next steps. I’m worried that if I go back to the MD to mention a lack of response, it might blowback on me, which is why I’m feeling a bit unsure about how to proceed, and I have also already cold-emailed most of them - I had tried cold emailing one of the Vp in the chain when I was a sophomore in college and he didn’t respond after four emails so running out of people too
Edit: how would you advice to go about networking than? I didn’t go to a target and do a corporate banking internship and now work in software so usually when I apply or start reaching out after apps open no one bothers to respond why I have been trying to go early
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