Do Referrals from outside the team count?

Hello everyone! I'm in the process of applying for jobs and trying to network my way in. I'm sending some cold emails and adding people on LinkedIn and want to focus my efforts on what matters. In other words, I am trying to optimise my networking process in order to secure high quality referrals. With this in mind, I was wondering whether referrals from outside the team itself are equal to those that come from within the team? Another question I might have is if Analyst/Associate referrals count at all? Thanks!

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  • Are referrals from outside of the team equal to those from within the team?
    • No. There is some nuance here. If you're being ref'd by a partner outside of the team, this carries more weight than an associate within the team---assuming that proximity is fairly close i.e. not mid/back office.
  • Do Analyst/Associate referrals count?
    • Yes, but not as much as you'd think. A D/MD ref is likely to guarantee your application gets looked at, and depending on how positive your interaction is, could guarantee a first round interview. Having said that, this is becoming less likely and you need to have a genuinely strong application regardless. Analyst and associate referrals don't have the same weight, but the hiring team will add a point to your application. It's a positive hygiene factor.

The holy grail is, of course, a partner/D/MD referral from within the team. I have networking tips and tricks, insider knowledge and some guidance on how to ask for a referral from well-tenured bankers. Happy to take mentoring sessions to cover all of this, which can be booked here.

 

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