Conversation with MD & Analyst
Hi all!
This is my first post. I am a junior at a target school with a below-average GPA (3.26), and I've spent most of my break trying to network my ass off. I recently got responses from an MD and an analyst at a BB and have set up phone conversations with them for later in the week. Are there any clear DOs and DON'Ts that you guys know of for these kinds of conversations. I appreciate any advice you have!
Just make sure you have good questions lined up. You need to run the conversation, don't expect them to do it since you asked for the call, they hate that.
Use the time to pick their brains and as jdrdeer said, have resourceful questions! DONT talk about exit opportunities, MD's get painfully pissed off if you focus on exit opportunities.
I usually do something like this: (after the hellos) Why don't I tell you a little about myself and what I am looking to do and then I would really like to hear about your current role blah and blah and then I have a couple of questions I would really like to get your opinion on. *make sure these questions are relevant about the industry they are in and not something dumb like hours/pay or whatever else.
If they took the call they will usually ask you about your modeling experience and then offer to pass your resume on or take a look at it/look for openings for you. If they don't, don't feel shy to go ahead and ask them...something like: would you mind if I sent you over my resume- any feedback you may be able to provide would be great. and then you can ask them about positions etc after they see your resume.
I've had easily 50 of these calls and not once been asked about 'my modeling experience.' No MD gives a shit about that nor does really anyone else outside of an interview context
LOL same. they would ask about modeling/technical experience if you were trying to LATERAL perhaps, but not likely to a college student this early on.
How'd it go OP?
Thanks for the advice! I'll update tomorrow after the phone calls.
I have the call in about an hour. Any last minute tips? As well, I secured a call with another MD at a top MM in two hours. I have some good questions lined up (about 7 or 8 for each MD). Any advice helps!
Sounds good. Not much more advice we can offer you assuming the questions are good ones. Let us know how the calls go.
Just finished my second of two conversations today:
MD in IB Risk @ BB: After giving some background information on myself we talked about what his role is within IB Risk (he is in the Credit Risk group). I asked him about the differences between evaluating risk for corporates vs FIG and how IB Risk works with different groups within IB. All in all, it was a good conversation, and at the end I was able to pass on my resume.
MD in Financial Sponsors Group @ MM: Same start, background info on myself and what his role is. I asked about differences in buy and sell side advisory, which one does he prefer. We talked about whether they had seen an increase in LBOs because of their lower interest rate environment. Then we discussed restructuring as well as why he likes the sponsors group over industry groups. Another really good conversation and he said he would forward my resume to his people and put in a good word for me.
Lessons learned: Don't stress the phone conversations. Bankers are people too. If you are genuinely interested and knowledgeable then just show them that, and talk about what interests you. The conversation will just flow from there.
Thanks a ton for your help everyone!
Some questions i would always ask MDs or senior bankers (more macro related, do not get technical or really ask about day to day responsibilities of an analyst...that's for associates and analysts for you to ask)-
how has banking change in your eyes post Lehman? what separates your firm from others? what are some lessons you can share with me since you worked your way up from an analyst (or associate/VP)? how is the M&A activity right now and what direction do you see it heading in the next 1-2 years? if you were in my position right now in 2012, do you think you would go into banking again or try something else and why? what was your favorite deal that you have ever worked on (as a junior or senior level) and why?
goodluck!
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