Have ppl always been helpful in high finance?
Having done a couple of internships in IB at small boutiques and BB I always hear people emphasising how important your network can be but how much of it is true in practice?
I am someone who prefers having a small circle and sort of stay to myself. I have noticed that the peer intern relationships that I had made have fizzled out as people have been caught up with their lives etc (which seems normal?)
Would appreciate some perspectives from more senior folks on this because at the same time I don’t want to miss out on the opportunities that people say they can get from having a ‘good network’.
I feel people only help you if you are currently in their firm or have something to gain in return.
Your network can indeed play a significant role in your career trajectory, but its value depends on how you cultivate and leverage it. Based on the most helpful WSO content, here are some key insights:
Networking is About Relationships, Not Transactions
Networking isn't just about knowing people; it's about forming genuine relationships. As one WSO contributor noted, people are unlikely to "go to bat" for you after a single conversation. Building trust and rapport over time is essential. This means staying in touch, being thoughtful, and offering value to others when possible.
Quality Over Quantity
Having a small circle isn't necessarily a disadvantage. A well-maintained, high-quality network can be more impactful than a large, superficial one. For example, a CFO landed a top role because he maintained a strong relationship with a former CEO over the years. It's about depth, not breadth.
Networking is a Long-Term Game
Relationships may fizzle out if not nurtured, but that’s normal. The key is to focus on meaningful connections and keep in touch periodically. Even if someone isn’t immediately helpful, they might be in the future—or vice versa. Networking is about staying in motion, as opportunities often arise unexpectedly.
Your Network Can Work for You
A strong network can amplify your reputation. If you portray yourself as reliable, competent, and approachable, people are more likely to recommend you to others. This creates a ripple effect, where your network grows organically through positive word-of-mouth.
Networking Beyond Immediate Gains
While it’s true that some people may only help if there’s something in it for them, many professionals genuinely enjoy mentoring or assisting others. For example, attending industry events, joining affinity groups, or leveraging alumni networks can connect you with mentors who are open to helping without expecting anything in return.
Networking is Not Just for Job Hunting
Networking isn’t just about landing your next role. It’s also about learning, gaining insights, and staying informed about industry trends. For instance, some professionals have used their networks to source deals, learn about new markets, or even collaborate on projects.
In summary, while your network isn’t the sole determinant of your success, it can significantly enhance your opportunities if approached strategically. Focus on building authentic relationships, staying consistent, and offering value to others. Over time, your network can become a powerful asset in your career.
Sources: Don't Throw Away Your Shot - Networking with Senior Professionals as an MBA, Some Thoughts on Networking, Some Thoughts on Networking, https://www.wallstreetoasis.com/forum/asset-management/qa-breaking-into-the-asset-management-industry?customgpt=1, Don't Throw Away Your Shot - Networking with Senior Professionals as an MBA
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No. Everyone is fake and will act like you are dead ~3-months after you leave.
Personally experienced this.
Facts
Have you made an effort to stay in touch with these "fizzled out relationships"?
Are you genuinely interested in these people or do you only want to stay in touch as it may benefit your career?
I only want to stay in touch as it may benefit my career. Fuck I look like?
Fair enough.
I recommend reading How to Win Friends and Influence People by Dale Carnegie.
With some that I felt like I had a genuine connection with yes. With others it is a bit forced and they only reach out to keep tabs or find out if I am doing better than them.
Some have moved counties and some industries so the conversation is a bit surface level
You really do this at your peril. No one'd expecting you to be everyone's best friend but "you" are, in part, your network and pretending otherwise is foolish. Who you know and who knows you matters. This has been the case in every society of every scale. Can people be vain or self-important? Sure. That isn't new and doesn't diminish the fact that teams and networks matter.
LinkedIn is a good intelligence-gathering tool but actually keeping in touch with people is important. Look at your seniors, a lot of them know each other. When someone starts a new firm or team, the first instinct is to turn to the people they know and trust to either hire them or source applicants. The same goes for other types of business opportunities. Without doing this, you are basically going to rely on cold calling for the rest of you life. Consider too that you would be doing this while others get the upper hand on you because they maintained and developed a network.
I'm employed and happy, but just yesterday an analyst who worked with me while I was a VP reached out for a role at their very notable fund where he is now a partner. We haven't talked in a few years, but I spent a ton of time working with him 15 years ago. We caught up, and it wasn't like a day had passed.
The value of the network is real. Most of the early investors in the company I started were friends from my trading/banking days. I hadn't kept up all that well with some of them, but the shared history and work experiences together mean a lot, particularly as you get older.
Your network is going to be made of the people who do not fizzle out. Try your best to be a good person to be around and talk to, and the rest is out of your control.
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