If I plan on applying to summer analyst programs for IBD, would it be a waste of time for me to network with people in S&T? Asking this because my school seems like its a target for securitization and S&T, but not so much M&A/GCM.
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Not necessarily a waste of time because you would still learn something (hopefully) from the call. They could also have friends/know people in IBD and they could potentially put you in touch with them. However, yes generally only speaking to analysts within IBD will help with referrals.
That’s what I was thinking as well. I’m just confused as to how I should reach out to these S&T people when I have no interest in working in S&T. Should I act like I’m interested in both and when seeing if they have a friend in IBD, say you want another perspective from the IBD side of things?
You could say you are interested in both and not entirely sure which career path to pursue. Then at the end could ask if there is anyone they know in IBD that would be a great person to talk to just to hear from another perspective in banking.
I wouldn’t network with S&T people because if you only go into the call hoping they can refer you to someone in the IBD and they don’t know anyone or don’t offer to connect you to anyone it becomes a waste of time. You could’ve spent the time speaking to someone in the IBD.
Definitely prioritize the group you are interested in, but if you find someone you have so much in common with aka same city, country of origin, or even play on the same team you play on then reach out. You will surprised with how helpful some people could be even if you are honest about your intentions. I would approach every coffee chat whether it IB or S&T with the goal of making a soft relation with the person that you can make them a friend, a mentor, or at least an ally. Plus they can push you to HR if that is the culture of the bank. Cheers mate!
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