Is it a good idea to reach out to bankers to network at the moment?
Would they be more open or less open to calls with respect to the current state of life/work in the world?
Thanks.
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Reached out to BB VP last night and asked same thing. He said he and his colleagues are not any more or less inclined to answer phone calls or emails at present, just no coffee chats (obviously). So, yes, I think it’s appropriate to reach out, but I don’t think they’re any more or less likely to network than normal.
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Not a good idea - comes off as tone deaf to me. It's a very difficult time where many are inwardly focused and worried about their health, family, job security, net worth, etc.
Utilize some emotional intelligence and wait for markets to hopefully normalize.
I'd say maybe some general LinkedIn requests, very low key, like their posts/positive comments isn't bad. Can make more of an outreach when the dust settles a bit if they agree to connect. Agree, people getting used to working from home, schedule changes. I've spoken to a couple people this week, they were open to it. No one seemed in panic mode. I think especially if someone else refers you or assists in the connection, and it's a warm contact, that's fine. Keep a light touch. You can say "I hope this finds you and your family well" or something like that, to acknowledge.
Don't message anyone in levfin or corporate banking or syndications; No one that deals with term loans. They are beyond busy and working from a laptop. IDK what coverage bankers and M&A guys are doing. I imagine they are all as busy on pitches as ever, but not so much on the execution side.
I was surprised about lev fin, I would have thought it would be dead. texted my friend and he’s working 24/7 from home hahah
Lots of potential refis on the levfin side?
that, and drawing on a revolver looks like a panic option, so companies will get 364 day TLs as a sign of confidence, depending on size margins might be lower than RCs as well. So optically it looks good and financially might make sense.
Yes, ask them out for coffee. Now's a great time because there won't be any lines at Starbucks. Make sure to give him/her a good, firm handshake too...maybe even a hug...I'm sure they need one right now with all that is going on in the world.
With WFH and meetings getting canceled / postponed, I personally have more flexibility and time to take calls than before. I'd imagine senior guys are much more focused on their families now, but I feel like junior guys would still be receptive.
As others have said, just don't be tone-deaf when reaching out. Also, be mindful that many banks have paused recruiting, so I wouldn't press anyone to push your resume or anything right now. Maybe just say you'd be interested when recruiting starts back up, then follow up in a few weeks.
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