Networking Basics: “Give Value, Don’t Take”

This is part 2 of a 4-part guest post (Part 1 here) on Networking from Luis Miguel Ochoa (see bio at bottom of page).

Tip #4: Make sure you are building your network way in advance of when you need it. If you need something right away from someone you’ve barely met, it looks like you're just trying to use him/her as a stepping stone. If you're going out for drinks or hanging out with a professional contact, try not to pepper him/her with questions about "how do I answer the question about my weakness?" Again, it signals that you have some sort of agenda.

So how do you prevent that? DON’T have an agenda (example: trying to use someone to get inside a specific group) when you're trying to network.

Tip #5: Get to know the person for who s/he is and try to provide value in the form of helpful articles or just notes to check in.

So let's get back to making lists...

Now that you've looked at the WSO Company Database, you can start filling in names of people you haven't met yet. You can tap your alumni database, and previous student group members (if you're active on campus). Once you're done, you can try:

• LinkedIn, looking up contacts by companies and schools
• Going to the boutiques or mid-size shops and writing up the names of senior bankers (VP and above). Tip #6: It's important to have a story about why you like the group's area of focus (bad reason: I like M&A because I like deals)
• Grabbing names from the newspaper, if deal team members are mentioned, you can just write a quick note congratulating them on a successful process

Tip #7: Attending events hosted by Professional Groups such as the CFA Institute, or attending an event for your community:

Latin American:

• Association of Latino Professionals in Finance & Accounting
• Hispanic Professionals Networking Group
• National Society of Hispanic MBAs

East Asian

• Oriented.com
• Asian Young Professionals
• Taiwanese American Professionals

African

• National Association of Black Accountants
• National Black MBA

Jewish

• UJA Federation
• Young Jewish Professionals

Christian (Presbyterian)

• Faith & Work

• Your friends also might know professionals in your area of interest and may be able to guide you to the right direction

So you've got a list of names, and a list of banks - now you need to write emails.

Write a broad generic letter if you don't know the name of your contact.

Subject: Analyst Recruiting, New York

I found your website and am interested in learning more about the recruiting process. I am currently majoring in [name of major] at [name of school] following [name of sector] sector through my school's investment fund. I would greatly appreciate any time to speak with you.

PS: I have attached my resume as a quick summary of my background.

You don’t need to list your name, it should already be in the “from” section of the email document.

Tip #8: If you do know the name of your contact, you can write a note addressing the person's background.

Hi Name,

I was reading about the [name of sector] investment banking sector and found your name in [name of publication]. I am currently a(n) [name of major] student at school following the [name of sector] sector through my school's investment fund. I am interested in learning more about the sector and I would greatly appreciate any time you could spare to speak with me for a few minutes.

PS: I have attached my resume as a quick summary of my background.

That's a lot of Is in a paragraph, but you get the point - the letter comes across as sincere since you are expressing interest in your recipient’s background.

What other types of letters should you be writing? Stay tuned for part three – keeping in touch.

Luis' full bio: He has worked in investment banking for several years covering the industrial sector. In addition to being an avid mentor for his alma mater, he volunteers for the Association of Latino Professionals in Finance and Accounting. In his spare time he enjoys fencing and attends networking events in New York. He graduated from Stanford with a BA in economics.