I’ve read a lot in the forum about networking - in fact there’s even a networking guide I can buy. However, WSO is quite a US-focused website so I assume networking is a big deal for New York IB’s.
I’m a student at a target uni (think UCL, Warwick, Imperial, LSE) for BB investment banks in London. How much does networking play a part in UK SA and full time offers? Is it sufficient that I just do the online application?
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From my personal experience, networking does have some impact on getting you an interview. I attended one of the targets you mentioned and also attended a networking event hosted by an American BB. I got on well with the MD who subsequently asked me for my CV to flag me to HR for an interview, so it does help to that extent. Equally, I had reached out to someone (Associate) at another bank as well, who also asked me for my CV to flag for HR. It seems to be that it can help in getting you an interview, but it doesn't do anything beyond that. Once you're at the interview, it's a level playing field. Knowing the MD won't really help you get the offer.
Now a "rumor" I've heard is that when banks host networking events, their is an opportunity for you to be flagged (either by simply attending as often these networking events are selective or impressing someone enough that they drop your name to HR). Now I'm not sure if this is entirely true, but in any case I would recommend you network as much as possible and attend all events, especially for the banks you really want to have a chance at.
On a final note, networking is always valuable even if it doesn't lead to an interview / offer IMO. You never know how useful it might be to know someone, especially later on in life.