Hey guys,
Hope you can help me out with something. I recently started networking based on everything I have gleaned from this website and other sources. Before I delve into exactly what happened, let me provide some background. I currently work as a catastrophe risk analyst for an insurance company. My undergrad was in Finance and I combined it into a 5 year program and graduated a few months ago with an MS in Risk as well (mostly because I went to a non-target and the job market was pretty bad when I was applying). So anyway, I've been at my job about 7 months and am actively trying to network to break into IB (hopefully when I finish a year at my current job). I found a guy (think Director/MD level) who works at a BB in a very unique coverage group - essentially underwriting alternative risk transfer securities (think cat bonds, ILS, sidecars and other esoteric securities). Since my Masters thesis focused on one of the above securities and how to price them (not super quant or anything) and I currently work in that business, I figured I would reach out the aforementioned guy. While I want break into banking (any role) I figured I could leverage my work experience and thesis to ask about how to get into underwriting/structuring the types of securities the dude works in or in a FIG group or something. I reached out asking for advice on how I could break into the field, focusing specifically on underwriting the esoteric securities I mentioned before.
Surprise, surprise he was very prompt and helpful. We emailed back and forth until he finally called me to talk (after about 2 weeks since he first responded). However, I think I screwed up by focussing so much on trying to leverage my background with structuring esoteric securities that he was under the impression that's the only thing I wanted to do. He suggested I was in the best place to learn about that and I should stay, learn and try to network - given the specialized nature of the work. I tried to steer the conversation by asking if it would be better to learn in a FIG group (what I really wanted), but he insisted that I would be best off where I was for the time being. At the end of the conversation we realized we are both attending the same conference in a few weeks (where he is presenting) and he said we could talk more in person there.
So at the end of this long story (sorry guys)- what just happened? Did I blow this route to get my resume in front of the right people and break into IB or by calling and suggesting we talk in person, did this guy actually tell me I have a shot in the future and to keep in touch? Also what should I do at the conference when we talk? Like I said, I'm new to networking, so I would really appreciate it if someone could tell me what actually went down. Thanks a lot guys!
You're in a good place.
Do you want to work in his group? If so, you're on the right track. Build on the relationship and get to know the guy. See if it makes sense for you to be considered if something comes up.
If you want to work in another group, I'd recommend networking with someone else for that and keeping this guy as a general relationship for the medium-term.
Thanks a lot Relinquis. I would be happy to work for his group, any banking role would be sensational. I just wanted to be sure that I hadn't blown my chances by focusing on my relevant background and how I specifically wanted to work on. Any tips on what I should discuss when I see him in a week or so? And which way I should steer the converation.
It seems that the miscommunication on your part was amplified by them not seeing a very specific and pertinent idea: you just want to start working and are not too concerned with the particulars of the role. People who have been working for a while often become desensitized to that basic reality, and get caught up in irrelevant (for your purposes) detail. You need to thank them for being so generous with their time and explain that you'd be interested in further refining your role once you start working, and would like their guidance on negotiating the hiring process.
The forest has been lost in the trees, and you need to (diplomatically) clarify your purpose. The details, well, only you know, but keep in mind that what is a common sense proposal for you is a distant memory for them. Keep calm, keep it simple, and you should easily have this person on your team in short order.
Even if they don't end up helping you(for whatever reason), having allies can only help your cause.
Thanks a ton UFOInsider. I replied by PM. SB for you and Relinquis.
Long story short, by trying to make the case for a job by putting your best foot forward, you instead pigeonholed yourself. Get a mental rest and revisit the conversation on different terms. Focus on simply getting them to work With you towards your primary objective.
Be a little more straightforward.
To be clear, you are in a very good position. Pm'd you
Double post
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