Networking as a Freshman
Hi All, I’m looking for some insight about networking at a young age. Background info: I’m at a very non-target state school and might transfer if I could get into a top program. I’ve been in contact with quite a few bankers (mostly alum) and had mixed reviews. Many people have said I am too early in the process but others say it’s never too early.
I feel like establishing connections with people at banks now by reaching out for informational interviews is only a good thing. Is this the right thought process?
Additionally, what should my end game with networking be? What benefit should I see when I am applying to internships over the next couple years?
Bump
Any banking contact is helpful. I've worked with and maintained good relationships with all-stars that have moved on to other banks. But could go back to them for a job should my shit go south, or want a better opportunity. In my experience it's been all about performing and everything else will fall into place.
I'm a nontarget junior who was in your shoes 2 years ago. First of all, I highly recommend transferring. My freshman year I made a lot of friends, was in a relationship, and built a lot of ties to my school, but as a junior I wish I transferred. It would have made everything a million times easier and if I put half the effort I did networking as a nontarget at a semi or full target than I could've ended up anywhere.
With that being said, I have an offer at a low tier BB this summer that I accepted so it is still very much possible from a nontarget. As a freshman I networked with about 100 people (about 20 actually responded) and I had one interview that didn't work out. I solely reached out to people at boutique banks in my hometown and college town as well as LMM PE firms in the same areas. I would recommend against contacting people in BBs or EBs so early. When I networked as a freshman I learned as I went and made a bunch of mistakes. There's also less to talk about as a freshman, and if a call goes well you have to maintain that relationship for a year and a half before it actually becomes useful when recruiting begins.
All in all, I would recommend transferring. If you're at a semitarget or a target then there will be info sessions you can go to and maintain those relationships much easier than through cold emailing. Regardless, I would network as a freshman but only with local firms for an internship and ntohing long term. Build up your skills first.
This is some shit advice. Don't listen to the part about not reaching out to BBs/EBs. Work on your why banking, your story, and understanding what banking actually is. Once you have those three, start networking with analysts everywhere. Yes, you will learn as you go on how to be better at phone calls and coffee chats, this is why starting with analysts is ideal. As you get better then start reaching out to more senior people. Some of the most helpful people have been the ones that I networked with extremely early and saw how much I progressed from the time we first talked to follow ups.
I think that as long as you don’t come off as desperate/totally clueless there shouldn’t be a limit on how early you start networking.
I echo what the above poster said about people being able to see your progress later on, and that can only work in your favor.
I would say to do your homework, don’t come off as if you know stuff that you don’t, and prioritize listening over talking (when networking). You’re off to a great start this early on, IMO.
Good luck
Agree with what others have said. One thing I would add is try to target associates and higher because most analysts will have moved on by the time that you actually need them. Not a bad idea to still talk to analysts as they can refer you on, but just something to keep in the back of your mind.
Get mad at me if you want, but I'm going to be next asshole to tell you this. For now, transferring and GPA should be your top focus.
Looking at many successful people in business, many of them transferred to top schools. It is hard, but it can be done, so apply to a lot and focus your efforts. At the same time, you can network on the side here and there.
I’ve definitely been looking at transferring, I’m debating whether it’s worth it to pay tuition for a semi target (0 to whatever tuition is at new school)
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