Most Demoralizing Comments During Networking Calls
Recruitments been dragging on for me, 900+ emails and 150 calls with no offer or SD, Non target/Non Div (didn't start till June tho) and would be interested to hear some peoples stories on this. Current bankers feel free to let us know what your go to lines are.
The ones that kill me is "You're doing everything right" or "You're in a better spot than when I started". I know they are just being helpfully and encouraging but hurts when things haven't gone your way.
Quality over quantity
I agree but this is spread out over approx. 20 firms so only 5-10 calls per firm with handful of those going well and 1 or 2 not so good.
I also went to a non target. Calling, and getting 10 people from the same firm on the phone is overboard. All you need is to hit it off with a few people. Having that many calls gives a higher chance of mistake on ur end which can be what it takes to ding you. Most networking calls lead nowhere but if you can get 2 solid contacts at a place you'll be in good shape. identify who seemed responsive/willing to help and keep tabs with them. If a person is on the phone not really engaged or just answer your questions quickly it's not going to be a great contact for recruiting purposes.
Edit: Being you’re from a non target your pool of alum is smaller. You Probabaly aren’t going to have great contacts at every bank. Target those firms that do have alum and work those 20-30 whose calls went well. (From 150 calls - 10-20% being useful/willing to help seems fair)
Yeah thats what most people have told me about it being overkill. When you say 2 or so solid contacts does it matter what level in your opinion are analysts okay? or should I shoot to have at least one VP/MD? My big concern was just only 1 firm truly has more than 5 alum and most firms have 0 alum at all. My fear is that when it comes down to it most people are going to pull for alum over some random non-target so needed to get my numbers up, if that makes sense. Most of the time my calls last between 20-30 minutes with them being responsive to my questions and saying things about how I'm easy to talk to or seem to know what I'm talking about etc. Feel like they are just being nice though and don't mean it. Maybe I just have a pessimistic attitude about it. I'll make sure to tone it down.
IMO charting up more than one or two analysts at any bank is a waste of time. Most aren’t very close to recruiting and will just end up passing you along to their analyst buddies when you ask for someone else to talk to. Hit up as many Directors/VP’s as you can since they might singlehandedly get you into an interview or even straight to a superday. Most banks are finishing up recruiting except for some MM’s like D&P or RJ so be strategic with where you target.
Biggest thing is so much of this comes down to luck, The offer I accepted for SA22 happened because I just really hit it off with a VP who was leading interviews for that group, I had only talked to one of their analysts a couple of times beforehand and might not have made it to a SD if anyone else was doing first round interviews
Keep working hard man, sometimes when you read things on the internet it can seem like everyone is crushing it but thats never the case. You see all the posts about crazy comp and stuff, but do you really think the elite of finance are posting on random internet forums? The truth is it can be hard to break in or get to the next level.
I / someone i know went to Ivy League undergrad and ivy mba, but had been working for mid tier/crappy european bank and it took three years and a job in between to get to a good US bank. Literally two ivy league degrees and 10 years in banking and it took three years and hundreds of rejections. All you can do is keep pushing forward. Since you went to a crappy college, I think your best bet is to get into a mid tier bank somewhere and just get started. And then keep applying to top places.
150 calls and no offer? Something is off. I'm guessing GPA ?
1) You need to target every IB, not just BB. That's local boutiques, mid-market, whatever. You can lateral to BB after 1-2 years
2) What's your academics / previous work experience? It must not be that strong
Honestly man, I would try other things than IB as well (corp finance, wealth management). Just get your foot in the door.
Expedita ipsa qui voluptate sit. Odio non fugiat placeat quam.
Quia ut ut voluptate non voluptatibus voluptatum accusamus. Non debitis cum officiis dicta nihil numquam sequi. Maxime perspiciatis quae excepturi reprehenderit doloremque.
Fuga atque doloribus reprehenderit qui dicta optio tenetur. Sapiente sit eos qui ipsa ut quo voluptates.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...