Currently an SA at a MM. Non target and not diversity. No alumni on street.
I am in a role that I do not like and want to go in Debt Capital Markets. I have been networking heavily with current Analyst, Associates, and VP's in both the MM I am at and some BB's in the same city. I have been meeting up with my growing network on a frequent basis (3 coffee chats a week). However, after the typical 30 minute chat and getting to know you BS, when I ask them for help or advice, they all say the same thing. "You're doing great. Keep it up. Something will com eventually".
Don't get me wrong, I appreciate the time they took to speak to me, but even when I was networking on LinkedIn, no one would give me a push to a recruiter or tell me to give them my resume. They all would just say the same "Keep it up" and "stay in contact with me" but to no tangible result. I have spoken to around 600 people across different industries and their response is always the same. I do not know if I am doing something wrong, I have had bad luck, or I am just not asking/approaching being hired correctly.
Does anyone have more experience on this matter or was in a similar situation?
The key really is as simple as following up. Many students simply make the initial connection, but fail to ever reach out again until they need something, i.e., a resume push. The goal of networking it to foster professional friendships with people by continually "giving" them something, until eventually they can return the favor when you need that resume push. Of course, there isn't really anything that a student can give to a banker that is of value; however, in my experience, even a simple update via email on a new job/internship that you are starting shows that you have kept someone in mind, and want to stay connected with them. The trick is to not come across as too-eager, while still keeping your name is the back of their mind.
It's also extremely beneficial to make trips to meet people in person. The percentage of non-target students who connect in person out of the ones who simply speak on the phone once is incredibly low, so it is the surest way to stand out.
The last piece of advice I have is to ask for referrals. If you feel like you've really hit it off well with someone after one or two conversations, ask if they would be willing to refer you to one of their analyst classmates (or one of their group's analysts, if they are a senior). I would ask for a junior to start off, as it comes across as self-interested if you ask for an MD referral right off the bat. Many students also get complacent and rely on a single connection to be willing to go to bat for them. Asking for referrals shows that you are genuinely interested in a specific group, and gives you a chance to prove that you are competent and likable to other members of the team. It's a lot easier for someone to vouch for a student when they have already spoken with several analysts in your group, and their name is instantly recognized by multiple people, vs. the student who only spoke with one VP and stopped trying afterwards.
what if we have nothing to update them on?
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