Knowing a Managing Director
I was wondering how powerful it is, to know a managing director that works for a large Canadian Bank (Think Big 5). In terms of getting you an internship in their group or getting you into the capital markets division... what is the likelihood considering you are not some dumb ass.
TLDR: How much power does a MD have?
I would normally say "meh". But capital markets divisions in Canada, even at the large Canadian Banks, aren't huge.
It depends on: -How hard will he pull for you -how small is his division -how much money he brings in
An MD has the pull to greatly help someone but it depends on how well you know him and if he'll really push for you. If he's just someone you've met a couple of times he'll probably just push your resume along and it may give you a slight advantage. If he's your uncle, the neighbor next door you've known since you were 2 or you have pictures of him fellating a transexual, you'd have much better odds. But it still comes down to having the correct background and acing the interviews. Unless your dad is the CEO of a client or a company that they want as a client, they can open the door but it would be pretty odd for them to truly get you a job.
When I was interviewing with a big 4 accounting firm, one of the candidates was family friends with one of the partners. How did I know this? Because when it was my turn to leave the holding pen and go interview, the guy went and started talking to the partner.
"Oh sorry, X and I are family friends".
Guy must have bombed his assessments though, because he didn't get an offer. So a comparable situation - it's not a guarantee even if you're family friends.
nothing is a guarantee... be focused, hungry and humble
Dad is GS TMT MD? (Originally Posted: 11/10/2011)
So my dad is a Managing Director at Goldman Sachs TMT in NY. I'm not sure how to approach him for a job. I come from a non-target but I don't want to sound too pushy. I read a couple books on tactical networking strategies and did some networking on my own for practice. Should I send him my resume or try to build up a relationship with him first? When should I make the ask?
How do you guys think I should go about doing this? Thanks for the help guys.
no cold call him from your cell phone to ur home phone
maybe i'm just humourless this afternoon but that was fucking lol. thanks for the laughs
Tell him that you know what he's been hiding from mom and it'd be awful if she were to find out
Well you know, it all depends on how much you're willing to show him that you want the job.
Asking someone to hire you, that also fucked your mom....awkwardddd.
Shouldn't be that difficult to ask your dad. Just show him that you are passionate about the job.
Tell him you'll clean your room every day for an entire year and always eat your vegetables
Any one who took this thread seriously is an idiot.
Edit: ok, just William
Serious question though: If one's dad is an MD, do you think that's an automatic job (in these times).
you should donate one kidney, one lung, one eye, one arm, one leg, both testicles, majority of your liver, and 2 liters of blood. after that, go to your dad and be like dad....look at the balls i have....i want a job.....
oh wait......
Ideal trajectory would be to fuck the MD's wife and ask her to bat for you.
I feel like in these times the only way to really get even a shot at the job is if ur network is beyond the typical networking relationship....it has to be more personal and perhaps deeper. while alumni and cold call ppl can "forward" your resume..barely any of them give it the push that your uncle might if he was in the firm....
I can't speak for GS, but in my experience, having a high up friend or relative in the consulting world gets you the interview. If you fuck it up from there, it's on you. They don't just green light you; you still have to pass muster with 4-5 other people. Unless your dad is the CEO of the firm, then interviewing with those other folks is probably just a formality because they won't want to be the ones to ding you.
Blankfein Jr. is in the analyst program. Can you imagine what would happen to the HR person that delivered that ding?
Hahhahahah. You get an SB later.
This has already been done OP, if was better executed the first time.
Send him your resume and start cold calling NOW.
well, typically getting married to his daughter helps (Wall Street 2), but that may cause problems because she would be your sister.... I dont know man why not just call him on your cell and say, hey dad wanna do me a favor?
How did a Master of the Universe end up with a kid like you? Good lord.
Haha loved the cold-call line by unknown4ever as well, that was entertaining.
no problem
slip a copy of your resume into his morning paper
SENTIMENT: that yearning picture of pikachu makes me want to cum on it's face.
POLL: Anyone else feel this way?
Omg, LOL thank you so much for this. Really brightened my day.
MD at a BB is willing to help but "Isn't involved in the recruiting process" (Originally Posted: 10/30/2011)
I have a contact at a BB in London who is willing to help me out, but says he isn't active in the recruiting process. How can I still leverage this relationship? Should I just tell him to forward my resume to HR? I don't want to come across as pushy but I want to use his position
you should ask him to introduce you to another MD who handles the process...and not HR (they are worthless). if he offered to help, i doubt you will be pushy for asking. if anything that's all he can do for you since he already said he does not handle the process
Tell him to introduce you to the staffer and some analysts / associates in the group. If you're not interested in his group tell him to refer you to a staffer in X group
I talked to him this past summer and just did it as an informational thing to introduce myself. I emailed him again to set up another call and he said he was able to talk, and got his secretary to try and set up a time with me. Should I go on the call and ask him to introduce me to someone or should I just ask in the email? Hes an MD at a very busy group so I don't want to take too much time if I'm just going to ask for an introduction right? Plus he might not know anyone at the top of his head, and an email might allow him time to grab some contact info. On the other hand I don't want to seem too impersonal. Whats best here?
i usually wait for the person to offer to send my resume out or get me in the process. if she/he doesn't offer then they don't like u and not even worth asking anyway. The person knows you just want a job. only thing you can do is express your interest, learn about the group/bank. if he does offer too then u can step up and follow up with him.
ok...you go on the call. ask him what you should do to get an interview at his firm. hes not going to completely shut u out. if he says he doesn't handle the process, then ask him if he can introduce you to someone who does. It is not too complicated. And don't worry about wasting time, because you have no benefit in saving him time, especially when he won't even realize you are trying to save him time. The longer you stay on the call, the more he will get to know you. The worst thing you can do is rush, and then come off like an idiot where he is unimpressed by your handling of the call and questions. However, he will be impressed if you ask the right questions and get what you want from him, but of course he is not going to come out and give you what you want on a silver platter.
Does Knowing an MD help (Originally Posted: 01/22/2012)
Does knowing an MD or VP in a BB like Goldman Sachs give you possibly the edge when getting an internship in comparison to someone who went to a 100% target school.
An MD can guarantee you a first round interview if he/she wants
What about a VP for 5+ years?
Not sure, I'm guessing that they can probably get you an interview as well.
I find it funny that you put 5+ years (I know why you did, to provide context, 5 years is "high level" VP, etc) but I can just see this thread expanding to people positing "what about analyst with 3.5 years? associate with 1? VP with 1? VP with 2?"
Case by case is what I say. I know for sure an MD can, and as for VP 5+, I'm pretty confident they can as well.
how about past MD's that have taken exit opps into hedge fund or PE but still have strong connections within Merril, ms, UBS and GS.
if anything 1st round interviews. very rarely an actual position, but this MD would have to be big time
.
like ex-head of forex or something like that
In my experience, MDs can get you first round interviews at their firm, and can also refer you to similar-level people at other firms. They cannot guarantee a position, particularly in this market.
If they like you, the first round [or if they really like you, superday] is yours for the taking.
I got a super round because of an MD
I got to a superday just because of an MD as well, it helps to know MD's
A MD, or even a VP, can definitely secure you a first-round interview but the question should is "is he/she willing?"
For a MD, all he really needs to do is to refer your resume along to HR and push a little with phone calls and e-mails every once in awhile. A VP can easily forward your resume along and also set up chats with other VPs / Associates / MDs in the group. If a VP can put you in front of a few others and also get them to recommend you, you are in.
However, you need to be realistic. No MD or VP is going to stick their neck that far out for you. First of all, it takes some political currency in the world of finance to get people to do you favors. So your contact is essentially paying a price to help you out. Secondly, the MD / VP's reputation is on the line as your performance could potentially make them look very bad. Third, it takes a lot of time and energy to manage the process.
Got a superday because of two directors
Warburg Pincus - MD is a distant relative (Originally Posted: 01/21/2011)
Just found out that my grandfather's step brother is a MD at Warburg Pincus. I've never met the guy, but I really want to approach him. How would you guys approach this situation?
I'm pretty hesitant to call or email and say "hey, I'm family, can you interview me?".
Ask to interview HIM. Tell him you want to ask him about his career, how he got where he is, etc. People generally love talking about how awesome they are.
TRUE: people really like when you ask about their awesomeness! It works like a charm
unobtrusive selling point: "You came up in conversation, and I'd always wanted to meet you, do you have a few minutes, blah blah blah". That or plying him with booze at the next family reunion / holiday party are probably the simplest way to get the conversation going.....
Good call, I'll shoot him an email. Do you think this is one of those things that's better done in person? I'll be in NYC in a few weeks for an engagement, so should I hold off til then?
If you're in NY for a few weeks that's perfect. Say you're in town and would love to meet up for a coffee or a drink and hear about his experiences.
The commoner will take the MD to McDonald's for a Mac Cafe lol
Know an MD at BMO - what to do? (Originally Posted: 09/17/2012)
Hey all,
First off I'd just like to start off with this - I am a senior in highschool.
Now, on to the real story. I have a friend whose dad is an MD at BMO! I wasn't really interested in finance prior to this summer so I couldn't have cared less, but now that I am more interested in possibly working in the financial sector I am curios to know whether or not there is a point for me, a highschooler, to know an MD.
Any intern opportunities (even though it would be back-office?)? Any sort of job-shadowing opportunities? If I were to speak with his dad, what could I even speak to him about (that relates to finance)?
Any tips or ideas would be appreciated.
Thanks, TheChicagoan.
my head hurts
There are a crazy # of high school kids on wall street oasis now, pretty much one post per day of a high school senior asking how to become billionaire hedge fund manager in 5 years. It's like one kid at Choate/Deerfield/Exeter found out about this site and spread it to all of their friends who are now on here asking the same things
I'm also curios too. Plees advise.
I am also a senior, though I am in elementary school. While most of my peers at my age just laugh and giggle at the definition of penis and vagina, I have a dream of becoming an investment banker by leveraging connections through my friends' parents who are working in the financial industry even though I do not realize investment banking is only a very small portion of the finance world. I have bought the book "Investment banking:Valuation, LBOs, and M&A" even though I don't know what the fuck banking means. American Psycho has become my favourite movie instead of Pokemon. I want to earn billions by the time I start HS so girls like rebecca black would date me. After all, she did teach me how to count the days of the week. Any advice on what to do next?
You said "Investment Banking: Valuation, LBOs, and M&A" where you should have said "Monkey Business."
There are no real job opportunities, but why don't you just talk to him and ask him what he does, what he likes/dislikes about the industry/his job, and what his suggestions for you are to learn more.
KNOW A MD (Originally Posted: 10/01/2007)
hey guys, I was wondering how much help would it be to know a MD in the BB?? cuz I just found out that one of my guy friend right down the hall has a MD as a dad at Citigroup. Would this help me out in the interview process or in any other way? thx
i'm sure he could get you an interview.
jimbo, would it depend on the division?
What if you know a MD? (Originally Posted: 07/16/2008)
I go to a non-target school with a Economics Major (3.5 GPA). I have a MD in the family at a BB bank. Would this help my chances because he is willing to help me he says but from reading this forum i've herd a lot of you saying, you have to be IVY. I'm a smart guy, My last internship I did much better then the other intern there, an IVY guy, and I'm a hard worker.
I'm loling at your caplocks of IVY.
Having an MD will help you a lot with that one bank in particular, and with any connections he can introduce you to. The reason IVY's do well is because of the networking/targeted recruiting aspect, which you can make up for if you invest your own effort and leverage your own connections(which you have)
I'm loling at how a fancy name can be so good at crushing people's spirits, hahahaha.
Talk to him. Tell him you're really interested. You want in, you want a shot. Make sure you know exactly which part of the bank you want to go to work for, and why.
I would want to go into the IBD.
If he's truly willing to help you and you are as hard-working/smart as you claim, with some luck you should be able to find something....even in this crappy market. It always helps to have someone willing to go to bat for you.
Make sure you fully utilise this unique resource (not many people are fortunate enough to have this type of contact at their disposal), but don't waste his time by asking him thoughtless/unintelligent questions...save those for WSO
Hey joefish, what type of questions would be appropriate to ask a MD?
I obviously don't want to waste his time with "what are some of the day-to-day tasks" or something of that sort....
I'll PM you some
Why don't you post them here ? I would like to know good questions too.
Ok whatever, when I get a sec I will, I'm sure other people can contribute as well...
How much can an MD from a different division help? (Originally Posted: 12/15/2009)
Hey guys, so I know an MD that is in Corporate Principle and Trading and have a phone call coming up with him. Just wondering how much pull someone like this has if I wanted to get into say IBD or Capital Markets over Sales and Trading.
Would he be able to get me an interview or since he is in a different area he has no pull?
If he A) likes you a lot and B) knows other MDs in IBD he could probably pull some strings and get you an interview. Obviously not as easy for him as someone in IBD to get you an interview, but not impossible.
Depends on firms. If it's GS and the MD is a PMD - you'll get inerviewed.
If he's a junior MD in some sht group - probably not
It all depends on how willing he is to help you.
I would agree with what has been said. My father is an MD in PE at a major investment bank and I recently had a friend interview for an Ibanking position at the same bank. My dad met with my friend so he could determine how much to stick his neck out for him. In other words, if the MD wants to push, he can probably pull an interview but if he just sends a quick email it may not be as powerful.
Banks have
1) Must hires 2) Must interviews 3) Referrals
Self-explanatory
probably hurts more than it helps - it makes them think you are spoiled and you get blacklisted.
Who's them? If you're referring to HR, they can't blacklist you. They don't decide who gets jobs.
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