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Closed as I found the answer to this question right away. Thanks for the help everyone, super insightful.
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1. Begin networking for IB in December of your sophomore year. Applications will begin to open up Dec and Jan and interviews will likely come out around Feb-April. Don't worry about stuff you are seeing for PE recruitment, that is for after graduation.
2. Essentially yes, you want to ask them any questions about them, the firm, and anything you think would make a good conversation. You want to build a network and stay in touch with people you have good conversations with. Primarily aim to reach out to analysts as building these relationships are the most important (they are likely the ones who will give you referrals for interviews).
3. Expect to lead the calls as you are the one reaching out with questions, not them. Try to make the calls conversational and not transactional, so do not make it sound like you are just looking for a referral. Come prepared with some general questions to guide the conversation and then obviously ask anything that comes to mind during it.
4. Mostly email analysts, can email associates if they went to your school or have a personal connection with them. Don't email VPs or MDs unless a strong personal connection already and emailing HR can be helpful if you have application questions, but they won't help with getting an interview (don't need to talk to them at all to get an interview).
5. Some firms might send an email saying you have received a referral but most you won't know unless they tell you they gave you one. Just have to keep networking and hope the interviews start coming in.
6. You have to apply still. Apply even if you haven't networked at a firm yet because applications are reviewed on a rolling basis. If you apply by the time you feel like you have networked, it may be too late because you waited for so long. Apply as soon as applications come out, but you will get most if not all of your interviews from networking.
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No it won't help with getting a referral but it will be good to practice networking and definitely helpful going into recruiting. People who go to your school will be able to help you the best.
Do not listen to the above and start networking in December. Mid Dec - first week of Jan is going to be very slow / no responses anyways. Start in late October/early November at the latest.
I'd say October is early but sure November is fine too. People I know who started networking in January turned out fine. More so your ability to network properly and the connections you make rather than when you start.
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i started networking in september so would recommend early september
Are you on campus? I would try to get in touch with upperclassmen who just went through recruiting at Stanford. They would have the most relevant advice for you.
I started networking late freshman summer around August and kept in touch with those contacts through the fall and winter, sending quick updates like starting an internship at a local bank or that my group had pitched a stock for our student investment fund. I had relatively few alumni from my school so I focused on people who used to be president of my school’s finance club and asked who else they thought I should speak to. Ended up branching out naturally from there speaking to mostly Analysts and Associates. It was helpful that the associates were generally still in banking by the time interviews happened. Many of the analysts leave.
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