IB networking questions
Have been networking a lot and had some general questions.
1. How many people should I am to speak with at each bank? from reading other forums on here it seems like its a bit more quality over quantity. Is there a certain threshold i should be aiming toward?
2. How does the referral process work? When apps open up, do I just reach out to them and let them know Im applying or do i directly ask for it. Some people have offered over the phone.
3. Has anyone else on here noticed a significant slow down in response rates? I got to a LAC so more alumni respond that bigger schools. In october/november i had around an 80% response rate. Now its much lower and hardly anyone replies. Some people who have offered to speak with me now are not replying when I follow up to schedule a time. Any thoughts on this? are people just busier at the end of the year?
Really appreciate any feedback.
Based on the most helpful WSO content, the ideal number of people to speak with at each bank is around 4-5. This ensures you have enough internal support for your candidacy without overextending yourself or becoming inefficient. Quality over quantity is key—focus on building meaningful connections rather than just hitting a high number.
For the referral process, it's best to approach it tactfully. If someone has offered a referral during a call, you can follow up closer to the application opening and remind them of your conversation. If they haven’t explicitly offered, you can politely ask if they’d be willing to support your application. Always frame it as a request for guidance or advice, which makes the ask feel more natural.
A slowdown in response rates is not uncommon toward the end of the year. Bankers are often busier with year-end tasks, holiday schedules, and bonus season. Additionally, the earlier months like October/November tend to have higher engagement as recruiting is more top-of-mind. To combat this, try to keep your follow-ups polite and spaced out, and consider reaching out to new contacts to keep your momentum going.
Sources: Networking 101 – 8 tips from a “non-target” school student, 10 Friendly Reminders While Networking for SA Programs (from a BB Analyst Perspective), Alumni just don't care, Advice for Networking Calls for SA Recruiting, How helpful is your bank's (BB/EB) alumni network down the line?
Here's what I'd say based on my experience (networked mostly with BBs and landed an offer earlier this year):
1. Generally 3+ although that's not set in stone. You're definitely right about the quality over quantity part - I only spoke with 2 analysts at one of the BBs I got an offer from (both were fantastic 40+ min chats) but I know people who chatted with 10+ analysts/associates and didn't even get a Hirevue.
2. Definitely don't ask for a referral. The analysts aren't dumb - they know you're calling them to get pushed forward in the application process and they'll refer you if they like you. You can mention that you've applied but you don't have to... I personally didn't.
3. Didn't really experience this when I recruited but my guess would be that it's due to a combo of EOY deadlines and the fact that tons of people are reaching out now for chats. Don't take it personally.
To follow up on the second point, I've found it useful to attach your resume within your initial email or thank you email. It could be something along the lines of "Hey I'm XYZ, I've gathered experience in A, B, and C, see resume attached for further context. Through those experience, I've garnered an interest in XYZ and would greatly appreciate the opportunity to chat about your experience". Keep in mind this is paraphrasing.
While some may disagree, I've found this to be a real game changer in my networking process (received a offer from an EB in NYC). By no means am I suggesting you be to forward with this tactic, but rather try to phrase it as providing the banker with more background on yourself. I've found that people I've networked with are more responsive because they can basically screen your resume ahead of time to see if you are a qualified candidate and worth speaking to.
Just curious. Let's say you're a H/W student. What are the chances of getting an interview at a BB/EB firm if you just apply without having chatted with anyone from there? What about at a MM? What if you're not a target student?
I ask this because I'm at H/W and I've only networked a bit, so I'm planning on just targeting a few firms and networking hard there rather than spraying and praying everywhere which I think would be a waste of time this late into the game.
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