Offcycle Job Search
So I just graduated in May and I moved to the East Coast to try and work my way into New York City. I know this is a terrible time to come out searching for a full time position and any decent sized bank has already done their recruiting. With that said, I'm targeting some small boutiques as well as some jobs that are connected to my network. I basically have 3-4 more months before I'm going to have to move back West or find a temporary job to tide me over. I'm currently working remotely for the company I worked for before the move but that's 10 hours a week at most. I'm also gaining some experience working for a start up on the side.
I've done some research on this site but I have a few quick question I was hoping you guys could help me out with:
Best way to get in contact with boutiques at this point in time? Cold email? Cold call? Should I be emailing the addresses listed on their websites, finding MDs/VPs on LinkedIn, or is there some better way to find contacts?
How pushy should I be with the current network? For example, I recently found two jobs at a buy side firm that I'd love to start in. I spoke to two of my contacts for insight and they both directed me to someone else who had worked in a similar role. None of them are connected to the team that is hiring nor did they suggest that they would send in my resume. Is it appropriate/useful to email them, thank them, and ask them to push through my resume?
What's the typical response rate from alumni? Prior to coming out I got responses from nearly everyone I emailed, now that I'm here its maybe 10-20%. The only thing I changed in my email is that it now reflects that I graduated and made the move to the East Coast. Any suggestions for higher response rates?
Thanks guys
in many ways, recruiting off-cycle is a numbers game, so you are going to have to ramp up your efforts, especially since 3-4 months is not a lot of time to forge and deepen relationships.
that being said, some people go crazy with cold calling/emailing and simply do it blindly, sending over 20-30 emails a day. these people (including my past self) aren't very successful.
definitely start with your alumni network and try to reach out to people that you have something more in common (ie, major, frat, sport clubs) to quickly build a rapport. attend industry conferences, and definitely think about the WSO conference. anything that will broaden your network is something you should really consider. and then make sure you contact family friends and friends' family that are working in finance in ny. ask them for informational interviews over coffee so that they get to know you and don't think you are just trying to use them. if they like you, they will be upfront about helping you out and pass you more contact that you will have a higher hit rate with.
it's tough out there, but with the right attitude and smart networking, you can definitely land something in a couple of months.
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