Networking prospect seeking payment for meeting with me

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I messaged an Analyst at a Boutique Bank, asking if he had time to share about his path into IB. He responded with "Sure, if you pay me $100, $50 before and $50 after I'll talk to you on the phone for an hour and review your resume." Is this standard? Have you guys seen this before? Thanks!

Comments (51)

 
Aug 6, 2019 - 12:44pm

No way am I paying an Analyst to tell me their life story. Most bankers (especially alumni) are more than happy to help out for free, especially if you are a very qualified candidate. Remember: networking is a two way street where both parties benefit. You shouldn't have to pay someone to network with them. I suggest you keep reaching out to other people/banks.

 
Aug 6, 2019 - 12:48pm

Dude sounds like a prick, exploiting desperate kids who wanna learn. There are tons of people out there who are very much willing to help out and will most likely offer more fruitful conversations and guidance because of that positive attitude they have towards helping kids like us.

 
Aug 6, 2019 - 1:49pm

Fuck that guy. Reach out to alumni/current students at school who may have some experience going through recruiting or working as an intern at an investment bank.

You could also keep cold emailing and maybe get a bite, as well. And more than likely it will be free.

 
Aug 6, 2019 - 2:06pm

Don't do it.

Keep at it and you'll definitely find willing professionals to help you.
Try polishing your resume, linkedin and approach by first contacting simply interns at places you'd like to work. Very often they understand better what you're going through and may be more willing to give advice. When you already have a good package you can try again with Analysts and higher-ups.

(the point is not avoiding them until "ready" it's just about not excluding other groups of ppl and just keeping at it.)

I've received some of the best advice by pm-ing WSO users.

A Dutchman in London
 
Aug 6, 2019 - 3:58pm

Tbh it might be worth it if you get a good resume look over by him, but for some reason I doubt he's going to actually spend too much time/effort on your resume.

Also, if you're actually enough of a bitch to pay an analyst to talk to him for an hour, do you really think he'll think highly enough of you to push your resume/refer you to an associate/VP/MD?

 
Most Helpful
Aug 6, 2019 - 4:12pm

Email his boss,

"I'm interested in learning more about your firm and recently reached out to analyst name on team x. He responded by requesting a down payment for the meeting and an additional charge afterwards. Is this the quality of character that your firm is interested in hiring?

If so, I will continue searching for firms that value integrity and service as part of company culture. If this is not reflective of your company culture, who would you recommend I reach out to aside from analyst name on team x to learn more?"

"Out the garage is how you end up in charge It's how you end up in penthouses, end up in cars, it's how you Start off a curb servin', end up a boss"
 
Aug 7, 2019 - 10:47am

It's the first time I hear of someone doing this. Quite an asshole move. I would never let a student pay for my coffee, let alone ask them for a fee to talk to me. Move on to other contacts and maybe do what StrapYourBoots recommends, after you get another job.

Chaesss Might be more understandable from the DB guy, he could be out of a job soon anyway :)

 
Aug 8, 2019 - 5:28am

SReaper:

It's the first time I hear of someone doing this. Quite an asshole move. I would never let a student pay for my coffee, let alone ask them for a fee to talk to me. Move on to other contacts and maybe do what StrapYourBoots recommends, after you get another job.

Chaesss Might be more understandable from the DB guy, he could be out of a job soon anyway :)

Haha yeah, my thoughts exactly.

 
Aug 7, 2019 - 1:21pm

WT ACTUAL F? Most normal bankers I have met so far don't ask for anything like that. Instead they end up paying for coffee even if I insist. Seems like bonus season didn't go well for him maybe tryna made some extra cash!! Regardless stay away from him. You will many people who would be happy to help out a student like you.

Array
 
Aug 7, 2019 - 2:01pm

It's quite pathetic IMHO - He is nickel and dime-ing here to the max. Plus, what the hell kind of value/quality advice can you expect to get from a guy only charging $100 for his time? probably garbage. trix are for kids!
Most senior people that I have run into are willing to give you the time of day for a coffee/lunch, etc when asked in a courteous manner. At some point in the future it will come back to you where you are in the position to help out a JR. or a new kid breaking in the industry. I promise you, you will feel a million times better about yourself giving a helping hand to a newbie rather than $100 for an hour of your time. God, that's cringe worthy.

 
Aug 12, 2019 - 8:12am

A lot of hate for this guy and prob not something I would do but I can actually sort of see where he's coming from.

I doubt he's trying to be an asshole purposefully but just trying to milk some value, and I suspect the fact that he thought it was a good idea to ask for payment also says something about the overall climate for the financial industry. He thought it was worth looking like an asshole for a few bucks cause the going could be tough in a few years anyways.

Or maybe I'm reading too much into it and he's just an asshole

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