Do you need wealthy connections to be a career banker?
Hey monkeys,
Recently signed a summer analyst offer with a MM group that has a great reputation. Really like the guys in the office and am excited to come in. I’m also going to do a SA stint at a smaller MM this summer with good deal-flow so I’ll see if I’m able to stomach the junior banking hours relatively soon.
I haven’t really been thinking about exits from IB and truthfully want to stick it out in banking for the long term. I am curious how successful senior bankers are able to source deals with no previous connections in the industry.
I come from a low-class background and am 99% certain that my current circle will not end up in the C-suite at any point of their career. If I am ever promoted to a senior banking position, how will I be able to source deals if I don’t know any business owners/executives? Will there be enough opportunity to create these relationships before that eventual promotion?
nah take it from me all you need is the GRIND
You make over 100k right, as you make more go buy memberships at the country clubs and stuff. You do not have to start off rich and well connected to get that way. You meet one rich guy that likes you odds are he knows other.
You are in your 20s I assume? No reason you can not be super well connected by your 40s its a long time to build connections you do not have to know anyone right now.
I strongly disagree with the way to meet people is at a Country club. Most people who are wealthy worked hard at some point and probably don't want to be bothered during their leisure time. Conferences/networking events will get you much further.
No, especially in the middle market start going to industry specific conferences and network beyond the traditional C-suite and corp dev/PE folks. Great referrals can come from commercial bankers, CPAs, wealth managers, lawyers.
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