How does networking influence the hiring process?

tommyturbo's picture
Rank: Chimp | banana points 4

Rising junior at a non-target, starting to network with alumni to hopefully land an internship. My question is, if I make a good enough impression on these guys how do they influence my hiring process? For example, if I talk to a director in fixed income sales and trading, could he only help me get hired in fixed income sales and trading, or could he be influential in other groups as well? I guess I just dont understand how the hiring decisions are actually made. i assume some combination of HR and FO people? any insight would be great. thanks

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Comments (16)

Aug 13, 2017

They can pass on your resume directly to HR and basically get you an interview by saying you're a solid candidate

Sep 6, 2017

Does networking help if you do not have top GPA? Let's say you network so well that it lands you an interview. Does grades matter from the first interview and onward?

Sep 6, 2017

Yes, networking helps regardless of GPA, if the person referring you is high enough (Partner/MD level). Firsthand experience with MBB and MF. The tough part is convincing them you're exceptional.

You will get questioned about your grades in a one-off statement if they are too low, but as long as you perform in the interview, you'll get to compensate that and expel their biases. Have a very good explanation as to compensate for that (health issues, personal issues, etc.......but I was able to overcome this by blah blah).

Also, in some firms, the interviewer may know who referred you and give you a shoo-in. In other firms (like MBB), they won't know and you're on your own. Hope this helps.

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Sep 6, 2017

I have put down my applications and one great network opportunity for IB because I believe my grades were not good enough. Guess I was wrong.

Aug 13, 2017

Networking typically gets you the interview and maybe a good word in to the hiring manager.

You pretty much have to prove yourself from there.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

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Aug 13, 2017

Its a little different once you have a few years experience and have developed long term relationships with certain people. Sometimes they will just say come to my company for X position for Y dollars, then you'll counter, you'll shake on it and that will be it.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

Aug 23, 2017

Networking pretty much gets your foot in the door, but sealing the deal is up to you. With that being said, networking can get you straight to the superday and skip the rounds in between depending on how much the person you're networking with, likes you.

    • 1
Aug 25, 2017

HR and hiring managers get tons of resumes. So networking might help in either getting them to affording you an interview opportunity and perhaps helping you stand out in the process (i.e. you won't be just another piece of paper). Generally, people can/will only help you if it doesn't require them to expend social capital. So yes - if you talk to someone who heads FICC sales, then he will probably only help you get a role there. Anything beyond that would be outside of his professional jurisdiction and would require him to call in favours. Unlikely that will happen for a junior unless you are related in some other way.

Best Response
Sep 6, 2017

Networking is the hiring process

    • 3
Sep 6, 2017

^this
networking is the single most important factor in landing an interview

if you want to succeed as bad as you want to breathe, then you'll be successful

Sep 10, 2017

Pretty much. HR doesn't usually have the final say in who gets the job (though their opinion can make a difference); if your contact is the CEO/PM/CIO/MD, then it honestly just depends on how much they think you're the person for the job. I wouldn't go as far as to say it all comes down to whether they like you (they can like you and think you're still a weaker candidate than some other kid they know) but whether they like you will be enough to decide whether you get an interview.

I am NOT in denial!

Sep 10, 2017

You use it to get in front of the jobs, meet with the higher ups before the interview, put them down as the person that recommended the role to you on the application.

Also the order you do everything is wrong. You're taking too long to get the in person meeting. I do a cold call at 7-8am, no one else is calling them at this time, and if they're in the office, they'll pick up, if not, leave a voicemail and you look like a hard worker. If nothing by the end of the day 8-9, send them an email with your resume. Your goal from the call/ email is to get a meeting asap, put a face to the voice and the resume.

Sep 10, 2017

How do you know there is a job available?

Also, what do you say in the phone call?

Jan 13, 2019

good luck

Jan 31, 2019