Tips for networking over the phone (vs in-person)
Hey, so I have probably done about 10 informational interviews/coffee meetups with alums/contacts in different cities and by now I would say that I am getting kinda good at it (not very hard though, just read everything in the networking guide [yeah I'll plug it!!!] and read a lot on the forums) and I am getting pretty decent results, alums/contacts really seem to like me and want to help me/push my resume.
That is in person. Still struggling over the phone. Talked to 3 people so far over the phone and only 1 went well (by my standards). And the guy technically didn't even work for that bank/any bank anymore but was still extremely helpful.
Any tips specifically for phone networking? In theory parts of it should be easier like I can have stuff in front of me, like questions and whatnot. But then it is also much harder to make a (good) connection with the person.
Tried to do a search for something like this and not too much came up (people tend to lump in-person and phone together)
//www.wallstreetoasis.com/forums/phone-networking-tips
//www.wallstreetoasis.com/forums/help-what-to-expect-and-talk-about-on-th…
Granted admittedly I have only done 3 calls, so I should just give it more time. One of the guys I heard was kinda a downer in real life so maybe I just called the wrong people.
Probably just gonna have to play the numbers game in this case.
Thanks
I ask this now because I recently went on a networking trip and a lot of people had to cancel/were too busy to see me but said they were willing to hop on the phone next week (now this week).
So I want to be prepared.
shameless bump
I know it has been 9 years, but do you have any advice for someone going through the same process at the moment?
Boutique Investment Bank Phone Call Tips (Originally Posted: 04/24/2012)
Hi everyone, quick question regarding networking with an associate at a boutique investment bank. I appreciate any input you can provide.
After a successful first try to contact an associate via cold emailing, I was lucky enough to arrange a call to discuss the firm, his experiences, and potential internship opportunities for my junior year (during the school year).
Besides asking the usual questions to learn more about him, the firm, and his experiences (both there and elsewhere), what should I try to highlight to best position myself for the two semester internship come fall? I will be taking an advanced equity valuation course in the fall (recently retired investment banker professor - in depth teaching of valuation methodologies, actual project valuing a public company, meeting with executive management, etc). Is this something that is worth mentioning at this stage? I want to establish the fact that I am very interested in the industry and would come to the internship ready to learn but with a solid background concerning valuation.
I will be studying and interning abroad this summer, so I feel that I need to start off strong as I won't likely be able to communicate much with him, at least not in person before I have to apply for the fall.
Please advise, I appreciate any insights. Thanks.
I recently went through a very similar process (cold email -> phone interview) and was successful in landing an internship with a boutique for the summer.
You probably have some finance experience I'm assuming, since the associate is willing to talk to you in the first place. I would talk about this in detail and explain what you did and the impact it had. Then say what you learned and how it will be transferrable to the boutique if you were to intern there. Make sure to balance the fact that you're eager to learn but you also have some existing experience/knowledge with valuations/banking. Being "willing to learn" probably won't be enough- you need to demonstrate some experience in actually doing stuff.
What are you doing this summer? If it's related to finance/banking, make sure to bring it up too. It will add credibility to you (provided it's a finance related internship).
^Thanks for the advice. It isn't finalized but I'll likely be at a small hedge fund or private equity shop overseas in London (I will definitely have an internship, just not sure which I will pursue) and studying abroad at LSE. Although the modeling is somewhat different, hopefully this gives me an advantage. I'll be sure to bring it up.
Congrats on the offer by the way.
That is perfect. A PE/HF internship is great to set you up for the boutique during the fall. Don't worry. Since it's early, the associate probably just wants to get to know you. Once you bring up the fact that you're doing a HF/PE summer internship, he'll remember you and you'll fair very well for this boutique (if not others). In fact, provided that you get some good experience at the HF/PE shop, you won't fair too badly with BB recruiting (if your GPA is decent and you're at a known school)
Thanks!;
Thanks - a lot of times I feel way behind the kids who seem to have investment banking internships lined up every year since freshman year, but I think the best thing for me to do is focus on highlighting any real modeling and valuation experience I have, even if its not at a big name firm as you said. GPA, extracurriculars, networking have been good thus far and I'm at a semi-target (about 20 kids go to the all BB combined each year), so hopefully if I keep it up I'll be in a competitive spot for junior summer analyst internships.
Phone chat tips (Originally Posted: 08/05/2010)
So I have a phone chat (not an interview) scheduled with a banker (alumni) from a BB tomorrow and I have absolutely no idea what to say. I know I should ask smart questions and carry myself well but I don't really have much experience with this kind of stuff outside of formal interviews. Anyone have any tips to keep the awkwardness down? I know I want to stay in contact with this person but I don't really know how to make the phone convo go well.
Thanks.
Ask him about his about his path to banking, bankers like to talk about themselves.
Wear a headset if you have one. I find it helpful to have access to my hands so that I can use my laptop, take notes, hold a resume, etc.
do as much research as possible on him so you can ask good questions and just try to be relaxed and don't sound uptight or nervous or anything. keep convo centered on him and have a list of questions ready.
good luck!
Phone Networking Tips (Originally Posted: 09/20/2011)
I have only been on the job for roughly 2 months however I have already fielded a decent number of calls from precocious little networkers (mostly seniors for FT) and spoken to students at information sessions. One thing that has surprised me is that despite this relatively small sample size, I keep hearing the same f#kiing uninspired boiler-plate questions over and over again. To these, I usually give the same uninspired boiler-plate responses that teach the applicant nothing about me or my firm and make the conversation utterly forgettable.
Not all of the "standard" questions are necessarily bad, but I will sample below some of my least favorite (and most often heard):
Why did you choose investment banking? - same f#cking reason as you, for the $$$, but i'm going to wax lyrical about the fast paced environment, learning opportunities, etc
What are your plans after banking? - WTF do you want me to say? im pre-admit to HBS and have offers from Bridgewater and KKR? Sheesh ive been on this job for two months, seriously i have no friggin idea. maybe more appropriate for someone obviously at the end of their second year but i would stay clear - remember your focus should be getting an analyst gig (admittedly, i fell into this trap myself)
What are your deal teams like? How did this one make it into the networking repertoire? Sometimes i work just with an MD. Sometimes im staffed up with an analyst, aso, VP and MD. And every imaginable combination in between. I imagine its the same as every other bank - What does anyone learn from this exactly?
Anything about work/life balance or hours
Here are some questions that might actually get you somewhere, give me something interesting to talk about and help you learn something differentiated about the bank: - What kind of transactions are you staffed on? - What kind of client interaction do you have? (junior bankers only) - What is the most interesting project you have worked on so far? - What sort of companies do your MDs call on?
However I will qualify all the above with one statement -
Making a social connection is the only way you will be memorable
By social i mean literally anything having to do with outside of banking. if u simply ask the same questions as everyone else u will get the same responses and your conversation will blend into the all the others in my memory and simply be forgotten. You are unlikely to impress with any "knowledge" you might have, unless it is knowledge about our specific firm (a question related to something dug-up on our firms website, for example (has yet to happen))
Seriously, these "networking" questions are really just an excuse for you to engage in conversation and try to find some sort of common ground with your connection. He/she is a person too, and would like to connect at a personal level, not just rattle off boilerplate. See if you can discover something like a common hometown, highschool, college sport, fraternity/other social organization, interest, ANYTHING. Dont be afraid to pry into their background/interests a little (within reason), people love talking about themselves after all.
good luck everyone and keep calling
good reminders...thanks for sharing.
I think people often take the lazy route and just have a list of questions they run down without really giving a shit or listening. Unfortunately for them, they don't realize it is painfully obvious, even over the phone.
phone interview tips (Originally Posted: 01/18/2008)
Since many people on this board are going through the recruiting process right now for SA positions, I think that a thread on phone interviews would be mutually beneficial for many. Although I know it is preferable to secure an in-person interview, but in the event that you have to go through with a phone interview, what are the best ways to do well? Meaning, how can you connect with the other person? What are they looking for to invite someone to 2nd round?
if you have a phone interview, write down the major points you want to hit on a piece of paper (*cough* as well as anything else you may want to write down for technical questions *cough*). it will help you calm down, as you wont worry about forgetting a key word or phrase. the fact that your interviewer does not see you can play to your advantage.
Obvious things that are commonly not done: 1) be somewhere quiet and away from distractions, 2) be by your phone when you're supposed to be and answer, 3) have a calculator handy just in case
Also, as stupid as this might sound, I always found dressing as if you were doing the interview in person was helpful. Much like interviewing in person, you'd be surprised how effectuve smiling throught the phone interview is in conveying your enthusiasm and excitement for the opportunity.
i did all these. and the interviewer called up and shot me dead with probability questions. that's all he asked.
i did all these. and the interviewer called up and shot me dead with probability questions. that's all he asked.
have a few technical webpages opened up on your computer. but make sure to read them/understand them before the interview because if u're frantically searching for info during the interview, that's not gonna work.
i always found it helpful to smile when you're speaking into the phone. i think it makes you sound more friendlier? haha
it never hurts to write out a bullets to typical interview questions and have them out in front of you. don't write out an essay but have a few key points that you know you want to hit on
I JUST had a phone interview about an hour ago. It went well, but I prepared for it. Do have some key points you want to hit on (and keep it to bullet points, perhaps highlighting key words for easy scanning). Also plan ahead by mapping out answers to obvious questions they will ask you. Make sure you have some very relevant questions to end your interview on that will have them thinking you know what you're talking about, and that you're especially interested in their firm/job/etc. The first and last impression are the most important.
Practice your answers out loud the night before and right before the interview (or more often, if you need it). Work off the notes you will be using so you know cold where the answers lay on your page so they're easy to find.
Basically, just do you research, practice ahead, and be very confident in your answers. Confidence is the key criteria they are going to look for, both in phone interviews and in person.
Good luck!
+1 on confidence.
Being an applicant on the west coast for positions on the other side of the continent, I've had MANY phone interviews. (haha). It's really intuititive. Study as much as possible about the position requirements and the firm. Write down some little notes about what you'd like to touch on, write down typical interview questions/answers/hypotheticals/etc...but be careful not to sound like you're reading an answer. Sound as natural as possible. Also, as stupid as it is, smile and nod your head while you're on the phone. I think it gives a more positive sounding vibe.
And keep some water near you - just in case you're getting grilled and your throat cramps up. :) Good luck!!
I never go into a phone interview without my notes and my resume in front of me.
Here are some key things that are overlooked, but very important.
1) Stand up when you talk. You'll get a stronger voice and better posture and you'll feel more confident.
2) Turn off call waiting. I once had my gf call during the middle of a phone interview, and I couldn't hear my interviewer talking. I had to make up some excuse about AT&T being shitty. Just do it.
3) Have your resume taped in your room to the wall so that it will always be there in case someone calls unexpectedly.
4) Keep your talking points and selling points in hand. The elevator pitch.
5) Make sure you're going to get good reception wherever you go to do it.
agreed with the above, also, speak slower than you normally would.
thanks, good tips guys. surprising comments though, since i previously heard that phone interviews were almost always fit, since it is the recruiter that is conducting it. apparently not? i've only had one prior phone interview with a MM and it was all fit.
I've spoken with 9 people over the phone for interviews so far (combination of NY and HK)... let me count...
1 MD
1 Director
3 VPs
2 Associates
1 3rd-yr Analyst
1 Analyst
... 0 "recruiters" (by this, I assume you mean HR people, as everyone who participates in recruiting is a "recruiter")
have a list of your strengths and weaknesses on paper, know your resume very well. smile, smile, smile, and then smile. and dont forget to say thank you at the end of the call. Dont interrupt the person interviewing you.........thats about all i can remember now.
b - Since your interviewers were all in the industry, were they mostly technical? I've had one so far and it was with HR, so entirely fit.
Make sure you're in a quiet place and have internet access in case something comes up where it might be helpful. Know your story and answers to the common "why banking" questions everyone will ask you.
The big difference with phone interviews is that it's harder to establish rapport with the interviewer since you are not face to face. So you have to be a bit more animated in your tone and how you respond to questions to get across the same points. Also, speak more slowly than you normally would.
Typically expectations are not super-high from phone interviews - they are mainly just a screen for us to see who is serious/actually knows something or has studied some finance. I generally make sure the person knows how to respond to basic valuation questions and has a good, well-thought-out reason for wanting to do banking. Also something unique that makes me remember him/her.
I see some great points, but one thing that hasn't been mentioned was a big help for me: use a handsfree setup if possible, i.e. a bluetooth headset or a good speaker phone.
This will put your body more in the mindset of a regular interview setting, and it has great benefits. It allows you to use hand gestures while talking (I know it seems weird, but it DOES help!) and you can shuffle around papers/look up internet sites far more easily.
Finally, conduct it over a landline (house phone) if at all possible. Cell phones can suck big time, and if you get cut off it's a big hassle for everyone involved!
Phone "Chat"? (Originally Posted: 07/14/2011)
Hi monkeys.
I have been networking around and I finally got some response from some firms. Now they've scheduled a "chat" with me; is this actually a chat or is it an interview? And what about a conference call, is that an interview?
Thanks! I hope I'm not getting nervous over nothing.
a chat is a chat
Probably just an informational interview....you'll just tell them a little bit about yourself. And they make ask you some technicals or something going on in the news....
In voluptatem dolore ad facilis vero consectetur aut. Eveniet aut laudantium et ratione.
Rerum et autem quisquam iste. Sed porro sunt dolorum amet nobis asperiores minima. Rem quia consequatur ut maxime debitis minima. Consequatur aut possimus illum reprehenderit tempore nostrum est assumenda. Minus quo nihil non quia animi ab doloribus.
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...
Facere est in corporis at consectetur reprehenderit provident. Consequatur veritatis tempora rerum fugit quod. Inventore debitis qui similique natus. Voluptates quo sunt repudiandae repellat consectetur ut. Fugit at facere magnam fugit.
Eligendi ea aut quae reprehenderit eveniet et. Et eos ex incidunt aut suscipit at.
Perferendis illo voluptatum animi ut quis ut sint. Pariatur voluptate assumenda eligendi occaecati nam nam consequuntur. Qui doloribus et hic est unde tempore quos. Occaecati dolores vel non ducimus vitae occaecati ullam aspernatur. Tenetur est voluptas modi veritatis qui est et. Consectetur dolorum dolorem est alias porro debitis officia. Tempore iure vel quam alias.
Est distinctio nobis quisquam. Odio hic id quibusdam vitae ipsam vel molestiae. Quisquam voluptas consectetur et nemo est. Accusantium totam itaque quo quaerat consequuntur. Sit sit qui quae. Necessitatibus error pariatur ducimus veniam nihil maxime voluptate molestiae. Harum animi doloribus cupiditate ut fugiat nisi.