Talking with an MD
As a college undergrad having a phone conversation with an MD, what should I talk about? I have already talked with a lot of analysts and I don't think it would be appropriate to ask a MD technical stuff about models or their experience with the recruiting process. Does anyone have any suggestions or examples of "intelligent questions".
Thanks,
how long have you been at _____?
(if its been a while then...) "what has made you stay in the business so long when you've probably had other opportunities"
i used these... some will say they aren't perfect but they got me offers.
An MD takes a dump in the morning like everyone else. No big deal, just be polite and respectful.
im pretty much in the same boat, with a sit-down with a VP coming up this week. ive had lunch with MDs and VPs in the private banking division of a BB and with Associates in IB, but never a VP/MD.
Since many of the MDs/VPs in PWM i've spoken too also had experience in IB, im thinking it will be more or less the same. These people can be quite intimidating just in their presence, demeanor, and sheer level of achievement/pedigree they've established. I think the best is to just be relaxed, cool, confident just like with anyone else, and try to let them do most of the talking, without making it seem like an interrogation.
I would say something like "So I've spoke with lots of analysts in the field and I think I have a really good idea of the responsibilities of the entry-level positions in IB, but one thing I'd really like to know is how the work changes as you climb up the ladder. Is it mostly about developing and maintaining relationships with business executives, or is there still a lot of valuation and analytical work to be done?" Also ask them about their background, how they got to where they are today... chances are they have CFA/MBA, so ask them about how that helps you get ahead in the industry. Do heavy research on the firm and ask specific questions about some of the recent deals they have done. Then, toward the end of the conversation, i would subtly probe about the recruitment process and try to get a feel if youd be a solid candidate.
As always, smile when youre talking, even if youre on the phone. Sound enthusiastic, without being too eager/needy/fast-paced. Try to chat it up about sports and other non-business stuff to build rapport and let the MD know you are human and not just a bookworm.
Okay that was probably way more than you asked for, but typing all this helps me prep for my sit-down this week as well haha. Of course, I too am an undergrad so I could be wrong about a lot of this, but that's what I would do.
Best of luck!
Ask them about a recent deal. Even if you can't find a deal they worked on, something like 'so do you think xyz private equity got a good price when they sold abc last week?'. Make sure it's in the right sector and the MD should know about all major deals.
Something less technical - find out if they hired any new big names in the group, and say 'i saw you hired x from Citi, does the group plan on growing over the next few years?'
whatever you do, do not talk about financial models with an MD...
Lol, they will be like...uhh, WTF mate?!?!
How about a super?
if you ask them about a deal, then be sure as hell you know quite a bit about it because they are going to then ask you what you think about it.
Just thought I'd bump this rather than start a new thread.
Let's say you're cold emailing an MD that is in his late 40's/early 50's. Would you address him as Mr. Smith or just use his first name? I've always used a first name when addressing an alum in an email or on the phone, but for some reason I feel like an MD would get pissed if I didn't use Mr.....maybe I'm just putting them on a pedestal though. What do you guys think?
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I think it will be more respectful if you call him Mr....
Another question, if you cold email or cold call an MD, but let's say for instance he will not offer by himself to pass along your resume how would you ask him indirectly about this? It's very nice of them to talk even though they are busy.But, how can you win his vouch
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