How does networking actually work?

I know this sounds silly but how does networking work for actually landing a role. Say I have a few people I know, some are executives in the company you want to work in but not in IB or you have friends or alumni at the BB

You still have to apply online, etc but what exactly do you tell your friends or alumni? Hey go over to the IB MD and give him my resume? Hey talk me up and have him pick me. Etc.

At smaller firms I can understand because the person you know is likely to know the hiring manager and probably can affect the decision making.

In larger firms knowing alumni could help if they directly work for the MD in IB

My friend is a MD at a BB but not FO role, what do I tell him? Walk over to a guy you don't know and throw my resume over the target kids lol.

I have an acquaintance at another BB directly works for IB but an associate.

I also know you never directly ask for the job or role you ask for an informational interview.

Just curious to how when you know somebody what do they actually do to get your resume into the right hand and convince decision maker to pick you  

Comments (2)

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  • Associate 3 in IB-M&A
Aug 11, 2022 - 5:20pm

Doesn't help to have someone in another department unless they know someone in IB. Maybe they can refer you internally (like on Workday/through the HR system), but that doesn't do much. Your resume needs to go to the HR person or ideally someone in IB, even an associate. If anything an associate in IB is even better than a BO MD as they will know who the recruiters are and who runs the process from the IB side.

The idea of networking is ultimately to get to the person in IBD who is running the process and talk to them. Maybe this is directly, or indirectly in that you have spoken to 5-7 people in a group, or in a school recruiting group, and they all have you in mind come recruiting time and make sure you get a first round.

The MDs at BBs aren't really the hiring managers per se - it's likely to be an associate or VP running the process, along with HR, since it's a lot of work. The MDs can refer people and their recommendations do carry weight, but in my time in IBD I've seen like... 10 total MD referrals... and maybe 3 were from networking where they didn't already know the kid or their family. IMO way better to focus on analyst, associate, VP who all know who runs the process and are more willing to help.

Aug 11, 2022 - 5:31pm
rangerdanger 12, what's your opinion? Comment below:

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