There's a lot of talk around the "alumni-network" that comes with coming from a brand-name bank. I was wondering if anyone found this to be true/actually helpful when looking to transition to the next step of your career. Do "bank alumni" actually pull for fellow candidates? Does it extend beyond division, i.e. coverage groups helping capital markets bankers/traders lateral over?
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I wouldn’t say people actively pull from their prior bank once you’re in the interview process but I have had success using my prior bank as a pretense for networking emails even years down the line, which in turn definitely got me in the door for interviews I might not have otherwise gotten (e.g., “hey saw we both worked at Morgan Stanley would love to connect re: your experience at Blackstone”). It’s surprising how nostalgic people get for their analyst days 5-10 years afterward.
Haven't used it as a means to network / connect, unless maybe I saw someone was also in my same group at the bank I worked at, but I have found that interviews with people who worked at the same bank are generally warmer / friendlier on average than without that connection
Depends on the bank and group. At one of the medium-sized EBs right now and alumni have been receptive, but I could see that being less so at a bulge bracket.
It usually doesn’t hurt to try but would expect low response rate given how busy people are
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