Networking 101 – 8 tips from a “non-target” school student

Journals of a "Non-Target" University Student

Networking in the Finance or Investment Banking industry is incredibly difficult. Whether you’re a rising sophomore trying to get your hand at any bank or company that will take you on as an intern or a graduating senior in a rush to secure your final internship or job that will kick start your career, networking is the key to getting there. But it’s not always easy, especially if you’re from what the Wall Streeters call a “non-target” university. After months of research and testing different strategies I’ve compiled a list of unique networking concepts I think could take anyone’s networking to the next level. While I won’t give you a comprehensive step-by-step (that’s something you have to personalize to your strengths), this list will help you turn your networking into effective job-securing strategies.

Your Contacts

Building and compiling a list of warm connections that you can contact is pivotal in developing an effective networking method. 1. An important organizational strategy is building a list of contacts in an excel document and sorting each contact by defining characteristics. This is usually high value conversational information such as similar interests and hobbies, alumni status, or interesting career accomplishments. This helps you organize thoughts and conversational directors to effectively appeal to your connection. 2. Compiling in an excel sheet is especially beneficial because it optimizes self analysis process and monitoring results of each strategy you deploy. For example, if a certain networking template works incredibly well with bankers from a certain bank or state but only in that bank or state then I know to change strategies for potential contacts outside of those characteristics. 3. Finally go beyond the easy list. It’s common knowledge to use university alumni, former internship coordinators, and family or parental connections but most people will stop there. That’s usually not enough, especially if you come from a “non-target school.” Taking it a step forward and browsing through 2nd/3rd connections on LinkedIn to find bankers that to connect with by leveraging similar interests, LinkedIn posts, or career paths can revolutionize networking strategies

Building the Network

Now that you have a solid list its time to get up and network. 4. Creating the perfect template isn't the goal. It's to create a few great ones. You'll never find the one emailing or networking template that lands you every job or internship you want, but you can find 5-6 that work incredibly well. Your goal is to leverage those in a variety of situations based off the analysis you do as described in our first tip. There are plenty of templates out there that tell you exactly how to communicate effectively and earn a respectable return on networking, I recommend parsing through them and finding the top 5 templates you like to develop your personalized strategy. 5. Networking is about maximizing your initial outreach. Connections must mutual, not one sided. So what makes it interesting or valuable for potential connections to talk to you? The first step is playing your strengths. Do you work best in person or over email, are you spontaneous or do you prefer refining your discussion topics? Understanding these nuances can help you steer conversations onto your playing field. For example, if you’re better at creating connections in person than leverage that by setting up a coffee date. If you’re better at online networking than keep the connection to calls and emails.

Developing meaningful relationships

While having a network is incredibly important it doesn’t really mean anything unless you can transition those key short-term connections into meaningful long-term relationships. Keep in mind, we’re not building personal but business relationships so our goal isn’t to become their best friends, rather to engage with them in a professional manner. 7. Professional relationships come from a sense of mutual respect and value that you have to build on your own. Developing those requires a keen and rigorous demonstration of interest in self growth and career development, understanding of your industry, and respectable charisma are the basics that make up networking. Connections want to know that if they're investing resources into you, that you'll be able to leverage those resources effectively. 8. Finally displaying consistency is incredibly important in transitioning potential relationships from the initial rapport to long term connections in your network. Keep in contact. Follow up every 2-3 months with individuals that seemed interested in you. Send emails, set up coffee chats and phone calls, or even send a text message (if they’ve given you their number), anything to help remind connections about you and your interest in them and the industry. The relationship is professional so keep the conversation directed towards your career growth, industry trends and standards, and mini-asks (resume editing, career advice, etc) ~ That's my take on the topic I'd love to hear y'alls tips and thoughts on these strategies

109 Comments

jacuzzienthusiast

O

8y

Best Response

yep I agree w/ the excel spreadsheet tip. when I was a freshman a senior in the finance club showed us his laptop - detailed spreadsheet of 100+ places he's applied to w/ all sorts of info.... its a numbers game one would argue. good tip.

i'd also argue it would be good to get to know the people that work in one's OCR office. getting to know them and having them in your, so to speak, 'corner' can be a good thing.

i'd add branding oneself, its is important b/c when you get to superdays everyone there can arguably do the job, its just a matter of how well you can connect to the interviewers. for some that connection could be going to the same school as the interviewer, it could be an inspiring story of going from a 3.0 freshman gpa to 3.7 by senior year, it could be on how you're big into volunteering / being well-rounded, and for a select few it could be simple name-dropping to the interviewer. to each their own I suppose.

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lazy_overachiever

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8y

Non-Target Networking Tips (Originally Posted: 08/08/2015)

Hey Everyone,

This is my first post on Wall Street Oasis, however I have been browsing the forum for quite a few years now. Originally I was interested in investment banking, however my interests have recently shifted over to management consulting. This forum has been extremely helpful for me so I am now taking the opportunity to give back!

Brief background about myself: I am a rising junior at a large state university (think Arizona State, Michigan State). Basically, I come from a school that has virtually no consulting recruitment presence (not even Big 4). I knew my chances would be slim-to-none through just applying online, so a few months back, I took the initiative to reach out to consulting professionals through cold-emailing.

The following are 5 tips on how I was able to set up phone conversations with over 60 (yes, sixty) consultants at McKinsey & Company, The Boston Consulting Group, and Bain & Company. Many of these professionals have offered to help me practice with case questions as well as pass on my resume.

DISCLAIMER: As previously mentioned, I am only an incoming college junior. I have not worked for any of these firms - these are simply my OBSERVATIONS through my own networking experiences.

1. Don't limit yourself to just alumni networking, be creative

It is common sense to reach out to professionals with similar backgrounds as yourself, but please do not limit this to only alumni from your school! Coming from a non-target, this list is probably already small. Sure they may be your first priority, but they are not your only resource. Be creative and reach out to everyone who you think you may have the slightest connection with. Here are some examples:

-reach out to professionals who were raised in the same city as you -reach out to professionals who went to a target in your state (if you went to University of Illinois, reach out to Northwestern and University of Chicago alumni) -reach out to professionals who were in the same college organizations as you -reach out to professionals who studied abroad in the same country as you The list goes on and on...

These examples may seem obvious, yet I know so many consulting-wannabees who give up because a lack of school alumni. Mentioning these small connections in an email will vastly increase your response rate. Professionals don't just want to help out students who went to their alma mater - they want to help out students who remind them of themselves!

2. Customize your email title towards the targeted professional

This one is pretty self-explanatory, but make sure that your email title stands out! I talked to a Project Leader once who said he receives up to 10 cold-emails per week. You want to make sure he/she opens yours!

Wrong - Student Looking for Consulting Advice Right - Omega Alpha Sigma Student Looking for Consulting Advice (aimed towards Omega Alpha Sigma alumni) Right - Avid Skier College Student Looking for Consulting (aimed towards someone who was in Ski Club) You get the point...

3. Send your cold-emails out at optimal times

The key is to send out your email when a consultant is least preoccupied. If they are in the middle of working on a demanding project or they are in meetings all day, then they'll likely glimpse at your email and never remember to respond.

Monday mornings are a great time because this is usually when consultants are traveling. They will most likely have free time when they are traveling from their apartment to the airport, waiting at the airport, and then traveling from the destination airport to their final site. Similarly, Friday is a great day because most consultants will usually be at their home office doing less intensive work (wrapping up the week, catching up with others, creating their upcoming schedule).

4. Make sure you follow-up with those who don't respond

Like previously mentioned, sometimes professionals want to help out, but they just forget or don't have time to respond. My rule of thumb is to send out another email around a week later. This can be a simple

"Hi ________,

My name is ________, and around a week ago I sent you an email in regards to chatting about consulting. I know you're extremely busy, but I would still love the opportunity to learn more about you, your background, and your time with (insert firm here). Thanks and enjoy the rest of your day.

Best Regards, ____________"

I probably wouldn't follow-up anymore than once because that probably just means they don't want to talk. :)

5. Don't ask stupid questions, know your sh*t beforehand

A consultant isn't going to want to help you out if he/she thinks you know nothing about the firm/industry. Don't ask questions like "what type of projects are there in management consulting" or "can you tell me the structure of a super-day". Asking these questions makes you look like a buffoon because they can be found through an easy google search. Your goal is to ultimately come off as a likable and impressive candidate.

What do I mean by come off as a likable? Don't be that guy who just spews question after question without any additional insight. It's meant to be a conversation, not a Q&A. I've literally talked with a consultant about football for half an hour, and he ended up giving me a referral. This obviously is a rare case, but the point is that you want to mesh with who you're talking with.

What do I mean by come off as an impressive?? This goes back to knowing your sh*t. Let's say the consultant says that he's currently doing a due diligence project. A great question would then be "I know due diligence projects are known to be more time intensive, how have you been able to efficiently manage your time?" The consultant is now thinking, "wow, this kid has done his research" and is more likely to give a helping hand.

I have a lot more tips and experiences, but this is all for now. I may add a few more later if anyone finds this helpful. I hope to continue sharing my experiences as I get further on in the process (practicing cases, 1st round interviews, super-days). Thanks and good luck with your networking!

+24	Thoughts on unseriously applying to jobs/interviewing?	4	4d
+21	Feeling Like I don’t fit in (intern)	14	2d
+16	Whats the point in even trying to get into this industry	4	10h
+16	Am I cooked?	5	1d
+15	Frustrations with Lateraling?	1	2d
+11	freaking out about sie	7	1d
+9	Final-Year with no offers	3	16h
+9	Senior Summer vibes	1	4d
+9	Experience reneging on offer? Accepted an offer, two better processes still alive	1	6d
+9	Interview Peocess for Lateral VP hire in IB	2	5d

1	redever	99.2
2	BankonBanking	99.0
3	kanon	99.0
4	Secyh62	99.0
5	dosk17	98.9
6	GameTheory	98.9
7	Betsy Massar	98.9
8	DrApeman	98.9
9	CompBanker	98.9
10	bolo up	98.8

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Networking 101 – 8 tips from a “non-target” school student

Journals of a "Non-Target" University Student

Your Contacts

Building the Network

Developing meaningful relationships

Elite Career Bootcamp. Top Job Offer Guaranteed.

Elite Career Bootcamp. Top Job Offer Guaranteed.

Networking 101 – 8 tips from a “non-target” school student

Journals of a "Non-Target" University Student

Your Contacts

Building the Network

Developing meaningful relationships

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