January Networking Value?
What is the value of networking/ cold emailing people at investment banks in Jan given applications are already being reviewed then? Could you still build a relationship good enough in such short time to get a resume push/ preference?
Also, once that application is over, can they even do push’s/ referrals or is too late?
bump
incoming intern for this upcoming summer here: i only STARTED networking in january. got 4 interviews out of it (all MM, but i go to a non-target so that is still relatively good).
don’t recommend it, but, point is, you can definitely network in january, because a) people who actually have/had say in the process can still push your resume through and b) there’s still a significant amount of banks that haven’t opened up yet.
good luck and don’t overthink it too much, just do your best and hard work generally pays off.
Most apps opened up Feb-March last year though, whereas this year the big dates are Jan 1 and Jan 15
i had a call with a guy from db on jan 9th who would lecture me for not filling out an application yet so i can definitely tell you that there were a bunch of banks that already opened up in that same first half of january window. it kept going on through february, you are right, but i am telling you for sure that i networked at banks after the apps were already getting reviewed and still got my interviews.
This question has been answered by me in a previous thread: am leading the recruiting as the junior on a school recruiting team for a target @ a BB. Whole reply below:
Tbh, I would prioritize those that open up later just because apps are reviewed as they come in for some places. I would still network as people can and will push for you until interview invites are out, and if you're at a target; we usually have a meeting as a team to discuss the candidates (not too sure on the specifics of how these meetings go, as I am in my 2nd year so have yet to be in one; just volunteered to be captain of the process as a junior).
Thus, although it does help to network at those firms I think prioritizing firms that open up later is better simply because it means you'd have people pushing you forward much earlier and batting for you. Crucially (and what ends up happening often) is that the person screening your resume internally maybe someone you had a good chat with which is obviously a huge + to your candidacy. Also if you network a lot before apps open, it simply gives you more time which means more people to talk with.
All this being said; as I said previously I only talked to 5 people (checked my networking sheet from back in the day to confirm the number) and managed to get an offer at my firm, so I would say do not lose hope and it's possible to talk to enough people and convert to super days for those firms that open earlier; it's just going to be harder than the later-opening ones because of the time factor.
TLDR: Apply and try everywhere but personal opinion is you should focus on the firm that opens up later if goal is to optimize for an offer solely!
Also, some other things I'd like to point out:
1) NONE of what I said applies to any of the EB's; as I never recruited for them. I made a similar calculus to what I discussed here and ended up choosing to completely ignore the EB's given timelines and focus primarily on the BBs and select MMs.
2) Just as I did; by now I would strongly suggest choosing a shorter list of firms you are focusing on based on the connections you have had so far and the chats you've had. You should have some firms where you feel like you get along better with the people and/or have the best chats that you should focus on. The key thing here is also not putting all your eggs in one basket and also making sure to include MM firms; in case you strike out of the BBs.
Hope that is helpful, and my personal anecdotes sprinkled in are also of some help as to how I thought about the process! Again, happy holidays and good luck!
Summary and some added direct answering: A lot of value, continue networking. We can and do push people after apps open, apps opening date isn't THAT relevant tbh since that's not when we choose who to interview. It's too late once all interview invites are sent out. There is typically a few weeks of delay between apps and first round of interviews and a decent time between apps and all interview invites being sent out.
can i know when will the "alum discuss process" will start?
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