Who exactly am I supposed to network with?

Let's say I want to work at Lazard, but for some reason, Lazard doesn't come to campus. Where do I begin? Do I just start looking for analysts in the NYC office and email them? How do I even know if they are involved in the recruitment process?

Also, at some networking events, there are a lot of people who are incoming summer analysts who haven't worked at the firm yet, or current seniors going into full time. Should I be talking to them too?

 
Best Response

My approach, which worked for me:

  1. See if you have any mutual connections. If so, get an introduction.
  2. If no mutual connection, express your interest to someone VP level or above through a simple email on LinkedIn. Again, this isn't asking for a job, but you are inquiring about the Banker's history. Bankers love talking about themselves and sharing the "come up"
  3. Ask if person knows any company who is hiring and ease way into seeing if any groups at Lazard are looking
 

Go look up the emailing format for the firm that you want to network with - plenty of posts on this on this site. Then I would just go about searching for alumni from your school that work at the said firm on linkedin. Hit them up with the email format based on their name and ask for an informational interview. Some might turn into an instant phone interview (Moelis did this to me etc..) so be ready. Since you are going for a summer internship I would suggest you reach out to current analyst and associates at the firm.

 
bstej:
Out of curiosity, how did these less than stellar candidates perform in their role?

i would not call them less then stellar cause of their grades. My grades slipped my last two years but also because I started a business while playing a D1 sport. So when someone asked me about that it opened up a conversion of starting my biz and what I have learned. I got good feedback from most.

 

There are fewer positions in consulting to begin with, so it may be harder to land a position there with or without networking.

That said, networking helps in both industries. Know of several people who received jobs/internship interviews through contacts.

 

I think both are good for networking. I personally know quite a few kids who have broken into BB's like CS, Citi, WF, and JPM for IBD and also MBB through having their resumes forwarded by alums. The only difference it seems is that MBB has many different offices and positions and it may be easier to get into a non-central regional office, whereas the BB's all seem to have general platform offers so its equally hard to get into IBD there.

In any case, networking is good for both, so you shouldn't question whether or not to reach out to people.

 

First - look through your internal network, ask family and friends for an introduction. A good introduction can go a long way in any industry.

Second - look through alumni from your college, and send them a short email seeking advice on a specific industry. Let's say an alumni you know works at Lazzard, you should say you're interested in learning more about investment banking.

Third - cold call and cold email. Look through linkedin or the web for contact information, and send them a very short message. Answer two things: Who am I? Why I'm contacting you?

Everyone has their own piece of information to share, so network with everyone you can. However, be mindful of your time. A summer analyst may have good internal knowledge, but he won't be able to offer you a job.

My three top rules to networking: 1.) Always be polite and inquisitive 2.) Do not ask for an internship / job when initiating the conversation 3.) All online contact should lead to a phone call, or in person conversation.

"A man can convince anyone he's somebody else, but never himself."
 

My question is, I assume there are many analysts in the IB division, how do I know which one even has pull? Or do they all have pull? I guess I am just kind of confused as to how to the recruiting process works.

 

Who has pull is different firm to firm, could be a roundtable with Associates/VP's/Directors/MD's. Or it could be a 360 which encompasses everyone.

My advice would be to cast a wide net, reach out to everyone and anyone. Why limit yourself to only e-mailing some analysts, when you can e-mail them all? Chances are, most of them won't even be free / won't want to chat. Cast a wide net, and talk to anyone willing to give you the time of day.

 

Some analysts do, and some don't. Every firms recruiting process is different. It's you're job is to figure it out by asking the right questions.

"Who is the best person to contact for an internship at your firm?" "How do I get in contact?" "Do you know that person well?"
"Would you mind introducing me?" "What's the best way to position myself before contacting them?"

"A man can convince anyone he's somebody else, but never himself."
 

Hah isn't that how Will Smith gets ahead in "Pursuit of Happiness"? He gets ticked and just calls the guy at the top of his list and gets lucky

"I am not sure who this 'Anonymous' person is - one thing is for certain, they have been one hell of a prolific writer" - Anonymous
 

I shoot for the top and then work my way down. You'll find that once you get an MD to speak, he can very easily make an analyst or associate talk to you. Plus, the MD has more pull. Hell, I even tricked a few global heads to speak with me. Shoot for the stars.

"They are all former investment bankers that were laid off in the economic collapse that Nancy Pelosi caused. They have no marketable skills, but by God they work hard."
 

cold e-mailing MD's is certainly acceptable. In my experience, the people the highest up were the most friendly and helpful. I've spoken with 2 global heads at BB's, the chief of staff of a major bank and the CFO of one of the worlds top asset managers. All 4 of those people answered my emails as soon as they got them and had me set up meetings through their secretaries. Thats coming from a non-target background with limited resources at these top banks

 

In my personal experience, if you speak with someone you cold emailed and ask for a referral to someone else in the office at the end of the conversation, the person will usually refer you to the analyst who's in charged of the recruitment. I once cold emailed a VP and he directly forwarded my email to the analyst who's in charged. Got a phone screen right afterward.

 

I'm starting to really dislike your posts because it looks like you can't think for yourself and expect everyone to answer your asinine and commonplace questions for you.

This industry already has too many people who can only follow directions.

 
kidflash:

I'm starting to really dislike your posts because it looks like you can't think for yourself and expect everyone to answer your asinine and commonplace questions for you.

This industry already has too many people who can only follow directions.

Amazing.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 

@"kidflash" I am not going to reply with an insult or anything. Put yourself in my shoes, I have no investment bankng industry exposure on how things work in the banking industry. I am an actuary that spends hours (4 a day) studying for actuarial exams while working 50 hours a week. I have never needed to network because my stats were good enough. I came here because I want help in taking the first baby steps to get me going and start my investment banking position search and I am pretty sure someone taught you what I am asking right now. So yeah, thanks.

 

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