Is there a list of what banks lean the most/least on networking?
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Based on the most helpful WSO content, there isn't a specific compiled list that ranks banks by how much they rely on networking. However, there are some general insights that can guide your efforts:
Networking Importance Varies by Bank: Some banks, like Goldman Sachs (GS), are often perceived as more networking-dependent due to their competitive nature and the value placed on personal connections. On the other hand, banks like JPMorgan (JPM) may have a more structured recruitment process where networking might play a slightly lesser role, though it is still beneficial.
Networking is Always Useful: Regardless of the bank, networking can help you stand out, especially if you're from a non-target school or have a non-traditional background. Even at banks where networking might seem less critical, it can still provide an edge by getting your resume flagged or giving you insights into the culture and expectations.
Focus on Alumni and Creative Networking: For non-target candidates, leveraging alumni networks, LinkedIn connections, and even professionals in adjacent fields (e.g., accounting or law) can be a game-changer. Referrals and introductions from these connections can open doors at any bank.
Tailor Your Efforts: If you're unsure where to focus, prioritize banks where you have existing connections or where alumni from your school have had success. Additionally, consider reaching out to professionals at all levels, not just senior bankers, as analysts and associates often play a role in recruiting.
While there isn't a definitive list, the key takeaway is that networking is valuable across the board, but its impact may vary depending on the bank's culture and recruitment style.
Sources: Some Thoughts on Networking, Some Thoughts on Networking, Networking 101 – 8 tips from a “non-target” school student, Want to get me on the phone? Here's how - a networking overview.
Probably depends more on your school recruiting team than the bank. At my target networking is huge for JPM
"networking is useless at JPM" is such a common cop-out for lazy students to justify not reaching out lmao. Networking is valuable everywhere and a strong chat with a decision maker will get you an interview at 99% of shops. Point being: reach out everywhere and don't cross banks off your retarded list
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