For context, have 4.0 at low ivy (brown, Dartmouth, Cornell) in math Econ with a future IB internship. Is networking at all of these firms really that essential for me to get a first round, or would resume alone be enough?
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If I had to ballpark, feel like I've been through 10-15 processes where I've gotten actual interviews (not counting HireVues, OAs, screens), and I think for every single one I had a referral. Never recruited with an EB but I can definitely imagine it being the exact same story if not even harder.
Hey, do you have any networking tips? How did you get those referrals? Any unique advice for coffee chats besides try to make it a convo, ask not only banking questions, etc? Anything would be greatly appreciated!
Might be unpopular advice but try to limit your reach to alumni and people with things in common. I come from a school with a good amt of alumni but not an insane amount either to the point where you could find one at any bank so if there was a team I was targeting, I would opt to network w people that had same interests.
what i think really helped me as well was also just keeping it chill. there is a big hardo problem and most of the people i networked w appreciated it since i kept it short and kept convos very informal and chill.
Practically 0%. Don’t be lazy
No I promise I am networking as much as I can, just struggling to get some firms on the phone rn
Nobody can give you a precise percentage as for your odds.
Networking increases your odds demonstrably. I will add to the anecdotal evidence here and say that I had probably 4-5 total processes before landing my role, all but one of which were “warm” intros. I probably launched 10-15 applications, and got into only one process “cold.” I didn’t get past the first round despite making it much further in much more “prestigious” processes, and I suspect that’s because I lost out to people who did network.
Point is: it is important. Really important.
It’s also not that hard. My bank is literally begging analysts and associates right not to have as many coffee chats/calls as we can, and we have tons of alumni from all three of the schools you mention here.
How many reach-outs are you sending each day? And to how many banks?
5-10 every day between like 4-6 banks usually, alums haven't been super responsive past couple of weeks tho has me worried
Is it still like this?
I ran recruiting at EVR/MOE and I never once had someone get an interview without networking. It matters more if someone is willing to go to bat for you then the quantity of calls. i.e. one MD/VP who actually pushes for your is much better than having a 15 call with 6 analysts who never pass you along because they have their own cohort to help out.
How can I get a connection with any of these people in recruiting if alums aren't responding, cold email just to people at the firm?
Need to ask yourself why they aren't responding? Most likely if you are sending them out it could be 1.) your email format is not good or too long 2.) your resume isn't super strong and they don't feel good about your chances 3.) there was a finance club on your campus that you weren't a part of that helps place most kids so they are focusing on helping students of the club 4.) bad luck. Either way keep at it but don't spam people at the bank. There was always one or two students every year who would blast the whole bullpen and then we would all laugh for 2 min before going back to work and not responding to said person because you need to be targeted in your emails to people
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