Networking calls and timing - how is it done ?

I am currently on a deferred admission to a Master of Science in Finance (MSF) program at XYZ school until Fall 2024. I started reaching out to alumni from that school already. I come from an engineering background, so I am not sure how networking really works, as engineers typically don't do this (sadly reinforcing the stereotype).

My thought process for reaching out to them was to form connections now so that I can recruit for full-time positions once I graduate. I am worried that I might be doing this too early (one year ahead), and I am wondering if there is a specific time that one should be doing this.

I would also really appreciate any tips on networking in general. I have been reading past posts on here, but I would like to know how networking works in the finance industry specifically, and the dos and don'ts. Thank you for all your help in advance

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