Network Building at VP Level

Based on the most helpful WSO content, here are some key insights and best practices for network building at the VP level in a middle-market investment bank:

General Thoughts on Network Building:

1. Network Across All Levels:

   • It's crucial to network not just with senior bankers but also with analysts and associates. These individuals are often involved in recruiting and can provide valuable insights and connections.
   • Networking across different levels ensures that your network is robust and sustainable as people move up in their careers.

2. Get Creative:

   • Be creative about who you network with. Even if you come from a non-target school, alumni in related fields like accounting or law can be valuable connections. They might know bankers or other professionals who can help you.
   • Always ask for referrals. An audit partner, for example, might not be directly involved in M&A but could refer you to someone who is.

3. Preparation:

   • Have intelligent questions ready when you network. Focus on topics that aren't easily found through a simple Google search, such as group culture and strategy.
   • Avoid asking about compensation directly, as it can be off-putting and unprofessional.

Split Between Executing and Networking/BD:

• As a VP, your role will increasingly involve business development (BD) alongside execution. The balance between these activities will evolve as you gain more experience and build your network.
• Initially, you might spend more time on execution, but gradually, networking and BD should take up a larger portion of your time. This shift is essential for career progression and securing new business opportunities.

Internal Marketing Goals:

• Networking Meetings:

  • Aim to have at least two networking meetings per month. This frequency helps maintain and grow your network without being overwhelming.
  • Try to meet in person whenever possible, as face-to-face interactions are generally more effective than phone calls.

• Internal Networking:

  • Network internally within your firm, especially with directors and other senior leaders. They often focus on big-picture strategy and can provide valuable career guidance.
  • Set up 30-minute meetings with directors to discuss your career and learn more about their roles. Most directors are receptive to such meetings and appreciate proactive engagement.

Additional Tips:

• Use LinkedIn Effectively:

  • Create a professional LinkedIn profile and use it to connect with bankers across different levels and firms. Start with alumni and then look for commonalities, such as attending the same non-target school.
  • Don't hesitate to network with random people if they can provide valuable insights or connections.

• Track Your Networking Efforts:

  • Maintain a tracker to keep tabs on your networking activities. This helps you stay organized and ensures you follow up with contacts regularly.

By following these best practices, you can effectively build and maintain a strong network, which is crucial for your success as a VP in investment banking.

Sources: Some Thoughts on Networking, Some Thoughts on Networking, Want to get me on the phone? Here's how - a networking overview., Guide to building a successful career at ONE company: Internal Networking, IB Associate and VP Exits - Where are you now?