What is the best way to network with Investment Bankers?
Hi there,
I am a student that did a Summer Internship at GS and I am working on a new networking platform that already has 160 students signed up in our waitlist.
I'm looking to get a very quick feedback from Investment Bankers. Students are able to pay to instantly book calls with professionals, thus they will be paid for each call they take.
There is a growing interest from students for this platform but I am also trying to understand what the other party in this equation thinks about this?
Many thanks!
It dilutes the whole purpose of networking if it is paid imo.
If both parties are okay with this, why not? Also people pay for information all the time, like career coaching courses.
IMHO successful networking calls are ones where all the parties involved have a similar background (not just limited to schools, or current firms). That component is largely compromised in a paid relationship.
I think this is fucking stupid and predatory.
I’m exploring a concept that students are interested in and trying to see what professionals think about it. I wouldn’t say that is predatory.
Students can go message someone on LinkedIn för free...
The next generation of sameer merchants has arrived
this is good lol
wouldnt this mean people who have more money and can pay for the program be at an advantage over their peers?
In the UK it might less of a thing but in France a lot of students pay for career coaches insane amounts of money (+1k euros), our model would be way way cheaper.
is this a rhetorical question or are you that dense?
you network to hopefully get your resume pushed...
From a theoretical standpoint, paying for the ability to network with someone violates the premise of the gift exchange underlying it, which is that someone more senior to you is helping you by giving you their time, advice, insider expertise, etc. There isn't really a way to repay the favor because of the power imbalance—I think if anything, the only way to repay them is by being a good candidate, making it far in the recruiting process, proving that you weren't a waste of their time.
The exchange of money commutes this dynamic and turns it from a charitable exchange into a commercial exchange, which I think a lot of bankers would resent. Donating 20 minutes of their time to sophomores at their alma mater feels a lot different from being paid (presumably less than what they make at their real job) to talk to a random kid they have no material attachment to.
I agree but I thought in practice that would change. We have no problems getting upcoming analysts to join this but actual employees is harder and I wonder if what you are saying is the root cause.
I think you might be having trouble getting current analysts/associates/up to sign on because it's a service that, if it doesn't actually violate your ethical code, at least makes you feel like you're violating your ethical code. I would feel really disrespected if someone offered me money to talk to a random college student about my job in IB—disrespected by the idea that I could be bought, since if you're paying me to network the implicit assumption is that I'll flag your resume, push you through the interview process a bit, etc. Not that this system is a pure meritocracy, but even finance has its limits. When you network with someone the hope is that they'll help you out like that, but they're not expected to do so. I would also feel semi-doubtful of the candidate's merit, like, why did you have to pay to get me on the phone when most people don't have to?
I'm also from the US–maybe money is less taboo in France? The idea of explicitly paying to network is a bit inconceivable to me and I would feel really embarrassed to admit I had done so.
if you told me I had to pay ten bucks for every banker I hopped on the phone with I would laugh in your face
What matters is that a lot of students are ready to pay, so if there is a market interest in a new business model, why would I not explore this idea?
Students are willing to pay because they have money. You’re trying to monetize recruitment and gatekeep networking. You might not think $10 is a big deal but a lot of people can only afford to go to school because of heavy scholarships and grants. Now think how many connections a student would/should network with during recruitment cycles. That could add up. You will always find people who have money willing to pay for a leg-up but it isn’t necessarily the right thing to do.
Hello friend. Let's use symbolic logic here. A LinkedIn like platform that requires a payment for "networking" more s*cking off an investment banker to push your C.V well well well. There is already a platform like Minnect. And also most investment bankers with great reputation won't risk it. Also most of them have some family member or golf friend that has plenty of cash that will pay large amounts to push their sons or daughters candidatures incognito.
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