What's the purpose of inhouse days? I've been invited to plenty of inhouse days at investment banks and consultancy firms. They all basically follow the same program, you have a company presentation of an MD or a partner, lunch with analysts, a case in a group under the guidance of analysts and usually dinner and drinks afterwards.
So I spend a whole day at a bank, talk to all the employees and sometimes even go out to clubs afterwards with them. I collect all their business cards, sent them a thank you note, and that's it. It always goes the same way.
I highly doubt they'll remember my name a year from now, when I need that internship. So am I correct in saying that those days are good to see whether you like the company, but are pointless for actually getting an internship/job?
Yes, they are pointless if people do what YOU do.
However, they would not be if you had social skills and built a relationship off of the back of these days, got to know the analyst and all that networking jazz.
As I always enjoy meeting new people, I talk to them during lunch and dinner in order to get to know them better. I always talk about all kinds of things, not just work related stuff. I've even been to clubs till 5am with certain analysts, just because they were a nice bunch of guys. So I don't know what else I should do?
You need to build upon that as you will be easily be forgotten after a few months. In your thank you email ask if it's ok to follow up with some questions at a later date and every quarter or so email over a thoughtful and erudite question; in conjunction, expand upon your personal connection and developed a rapport on a personal level (e.g., sports).
You just need to contact the people you meet more often. Email every few weeks, see how they're doing, then when the time comes for recruiting, reach out and ask if there's a certain way you should proceed of if they have any advice for you, ask them if they know who the HR contact is (even if you know who it is, they may reach out which will help you, plus when you talk to the HR person you can say "Referred by..." and it'll help).
Look, I understand this is a forum for questions like these, but really?
You are basically handed a perfect networking opportunity. You don't even have to put forth effort! Just stay in touch with the people you meet and like. This really shouldn't be explained to you.
Ok, thanks for the help. I guess what I'm wondering is how I should stay in touch. Wouldn't it be perceived as annoying if I send them a question every couple of weeks? Like most of the questions about IB and consulting can easily be figured out by googling.
Notice how I said once a quarter or so (the dude above doesn't know what he's on about). You don't ask questions such as: "how do I calc. WACC?" "how are returns created through LBOs?", you quote deals they may have worked on, ask what was challenging about it, why they structured it in a certain way, what does this mean for the greater market trend. Failing those sorts of questions this is where your personal hobbies come into play, their team got embarrassed, joke about it.
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