Monkey to Millions | Andrew (Session 8) - Remote Internship with Covid-19 + A Broken Record - Apr 8, 2020
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In this episode, Andrew shares the new reality faced by many students coming into internships this summer and how his firm is dealing with it. We explore how he can make his time at home productive and I sound like a broken record trying to get him to ramp up his networking efforts rather than dial it back.
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WSO Podcast (Episode 8) Transcript:
PATRICK (CEO OF WSO): [00:00:04] Well. Hello and welcome, I'm Patrick Curtis, chief monkey of Wall Street Oasis, and this is monkey to millions. A show where you get a front row seat as I mentor young students and professionals to try and help them break into their dream jobs in the first cohort. You'll meet four students, all preparing for intense job interviews while trying to also balance a personal life and schoolwork. The goal of this show is to shine a light on the struggles of trying to break into competitive positions with a nontraditional background and to give you a roadmap for your own success. My hope is that as you get to know these four impressive students, you're inspired to dream big. Remember, these are real people, and this is their true story. Let's get to it in this session, Andrew: shares the new reality faced by many students coming into internships this summer and how his firm Is dealing with COVID 19. We explore how he can make his time at home productive, and I sound like a broken record trying to get him to ramp up his networking efforts rather than dial it back and join. All right, Andrew:, welcome to April 8th. Kind of a crazy month since we last spoke. Yeah, I think when we when we spoke last, was it like early March? I think
ANDREW: [00:01:43] It was either early March or late February. One of the two?
PATRICK (CEO OF WSO): [00:01:47] Yeah. So things hadn't really kind of gone. Yeah, yeah. Gone crazy like they have since then. So, yeah, I'd love to just get an update from you. I think you've been sending in the weekly updates anyways, but Just just
ANDREW: [00:02:02] Just to recap. Yeah, yeah, sure. So yeah. So since the last call, like I started, I started Like all my New York Outreach is even out. A few Calls, like a few guys Who went to like Columbia Masters in like real estate that were like originally from Montreal. And they actually thought that I went to school in Montreal, but I'm like, I'm not going to correct them. So, yeah, I had a few like general calls like that. Nothing huge in terms of like. Them like knowing about positions and Especially like given the circumstances, it was right around the time like COVID, just destroying pretty much all hopes. But yes, since then, like school kind of shut down and moved to like a pass fail system. And it's just kind of like throwing in last-minute projects and. Um, yeah, just got word from the Summer internship yesterday That they'd be Moving to work from home for the first month until, like June Four. That's like its tentative basis.
PATRICK (CEO OF WSO): [00:03:05] And then, yeah, I mean, because that internship was supposed to start in May, right? Super early.
ANDREW: [00:03:10] So it would be their plan is work from home till like June. Kind of see where everything's at then and then move into the office. So I mean, that would be perfect. But like I had to cancel my Residence in Toronto Just because of that, Like they, The residents basically gave me like a two day like ability to get a refund for the whole summer. So I was like. May as well now, like the only thing is, if I actually have to go there, it would just be like Getting an Airbnb or something or figuring Something out. Yeah, you could.
PATRICK (CEO OF WSO): [00:03:45] I'm sure there's going to be capacity. Yeah, definitely. I don't think you're getting a good deal on an apartment or whatnot.
ANDREW: [00:03:53] Yeah. Well, I was supposed to go with a few guys from From like my school there and just stay in the Residence, but I'm sure they'd accommodate. There's really no way around that. And yeah, so besides that, just finishing up courses finished my real estate modeling course, and then I'm going to move into like my real estate investment banking specific course. That's not even Mine. I just have to log in for it. So I'm just going to plug away at that and just, I guess, keep busy till the start of the internship.
PATRICK (CEO OF WSO): [00:04:26] It has been like, I know you said, like, you're really focusing on the real estate stuff Is are you Going to get exposed to that on the internship, you think?
ANDREW: [00:04:33] Yes, I'm in the real estate group.
PATRICK (CEO OF WSO): [00:04:36] So you're basically you're going real estate like, there's no coming back now.
ANDREW: [00:04:40] Yeah, which is I think I've committed to. Yeah.
PATRICK (CEO OF WSO): [00:04:43] So which is really cool. So I think it's interesting because the Real Estate Forum has I don't know if I told you it's like the second most active forum on W. So right now behind Ivy.
ANDREW: [00:04:54] Yeah, I've been posting a few things too, just in terms because I know there's like a few people even asking About, like Canada Specific. They're like, Should I go like a pension fund or like this other fund and like Being at a pension fund? I know like what the deal flow is like, what they're Actually like doing the job and honestly like it's better to Be at a smaller shop, in my opinion,
PATRICK (CEO OF WSO): [00:05:15] At least. Yeah, I Know the activity on Wall Street races has Surged in the last. A week or two to the point where I think this is the highest it's ever been in April. In terms of active users, I think it's just nuts. It's all over the place. It was funny because in Middle March, it kind of like dropped. I think when the whole market was just collapsing, everyone was checking their portfolios, trying to figure out what to do. And then once things kind of settled in and people realize, Wait, I actually am going to be stuck at home for a while. Yeah. So it became a nice distraction, for sure. So. It's been interesting to see that that whole Progression been really odd to see like, you know, normally Our traffic's like very predictable like this and then it was like just spiked. It's totally, totally unpredictable right now. But yeah, anyway, so, OK, so you're it sounds like they've made initial kind of contingency plans through May. Hopefully you can get some experience. Still, it's hopefully it's not just a joke.
ANDREW: [00:06:21] Yeah, that's at least what I'm Hoping I know. Like something like the bulge brackets are going like a four week internship with guaranteed Offers. So I don't know how like how intense that would be.
PATRICK (CEO OF WSO): [00:06:33] Yeah, the Positive news is there are a lot of like kind of guaranteed offers. The downside of that for you is if you don't get that deal or if they cut back, then a lot of the interns there may not be as many lateral positions. Yeah, at the end of this summer for like trying to fill out their last few slots at them. And if anything, they're going to probably feel like they're a little bit to. They've hired too many people. If this drags out longer than expected. Yeah. I mean, if I had to guess, I'd say probably nothing even returning to normal or semi-normal until like mid-May. I'm guessing, yeah, and that's going to be probably like, OK, you know, not everyone has to stay at home, but like restaurants can have like 20 percent capacity or something like that, you know what I mean? And maybe certain Schools can come back with certain guidelines in place, but it's going to be tough. No, definitely. So, so, yeah, tell me about so the networking have you I mean, Now that you've kind of probably settled in, are you Living at home now?
ANDREW: [00:07:51] Yeah, yeah. Just living at home got three monitors set up here. So I mean, you know, in terms of like, you know, I'd be prepped to work. I've got like podcasts on like one screen on like YouTube, like Linkedin by Outlook. So.
PATRICK (CEO OF WSO): [00:08:11] It's pretty much it. Maybe you can help. I'm thinking going into a multi monitor set up. Do you have a one in portrait?
ANDREW: [00:08:19] Um, no, I don't.
PATRICK (CEO OF WSO): [00:08:21] They're all like this. Yeah, exactly. Interesting. I'd be curious to hear what you set up on. So you say like on one, you have like all your communication, like social media and another one you have Like your.
ANDREW: [00:08:32] Yeah. Like I can like shoot You a message Or like a picture message. I think I got Skype on My phone, so I'll shoot you that at the end of The call. Maybe you could teach me something in terms of productivity.
PATRICK (CEO OF WSO): [00:08:46] Very cool. So the networking itself, though? Tell me about that. The pace of that in terms of New York, are you still kind of going to try to actively?
ANDREW: [00:08:55] I mean, like like I've been advised to like not reach out as much, just given the fact that everyone's got so much more on their plate and they aren't like as willing to hop on a call. I just think I've kind of, well, I've kind of seen that in like the efforts, like some guys would take like three weeks to get back and they're like, You're you like, I'm sure you understand.
PATRICK (CEO OF WSO): [00:09:17] Yeah. If you're talking about three weeks ago, yes, I think now as we settle into this, the reality people actually have better People have it that they're like, They're craving like some sort of human interaction. Yeah, like Outside their family. So I think it can be good. Yeah, actually a really good time as long as you're doing It with like you're not like following Up a week later, like, Hey, what's going on? Or like two weeks later, like extend out any sort of follow up significantly.
ANDREW: [00:09:44] Yeah.
PATRICK (CEO OF WSO): [00:09:45] Like you'd reach out once you don't hear from them, just keep going and wait like a good six to eight weeks before taking them again. Got it! So I think it's just more being more respectful of like the unresponsiveness. Yeah. And making mention Of specific Like I know things have been crazy, I'm not looking for, I'm not looking for a I think John, I was talking to him yesterday about how he's been not working through this, but just basically saying, Look, I'm not looking, I know everything's done and you're recruiting is done. I already have an internship lined up. I'm just really more interested in hearing about you, your path. And you know what it's like at XYZ firm.
ANDREW: [00:10:23] Yeah, I'd like the ones that I did have calls with, like we're really receptive and they went, like really deep into their backgrounds, like one of the guys was talking about like. So he is doing like real estate development For like the Four New York City or whatever. And he was talking About his time in student government at McGill. Like really going deep into it. Yeah, so that's pretty, pretty crazy.
PATRICK (CEO OF WSO): [00:10:49] That's awesome. That's awesome. And more, you can make a conversation like that where they're like reminiscing or talking about the stuff. I think that's good because it builds, it builds a nice connection, and they're going to remember that conversation fondly, like when you ping them again. Oh, for sure. So I think, you know, do you have a good list of people in New York now that you've? How many calls do you think you've done with New York people like? 10.
ANDREW: [00:11:11] Yeah, like five.
PATRICK (CEO OF WSO): [00:11:13] So, yeah, so I mean, not too many, but you can scale that up by like mid-summer like, say, June, July and you're in the office in Toronto. You can be like, Oh, we're finally here back in the office, but things are doing Well, going Well to give you an update. Things are going well here. You know, how to make some sort of reason to reach out and give them an update on what you're doing, like the types of deals you're working on? Yeah, you can say I don't know what your time I looks for like your own hires personally, but it might make sense to stay in touch later in. And so you kind of you keep that, I would say, doing the work you do now, then you're kind of priming kind of the early to mid summer reach out. Yeah.
ANDREW: [00:11:57] So that it's just the footwork now, basically
PATRICK (CEO OF WSO): [00:12:00] The footwork now so that it's a second contact in mid-summer, like a little update with like the types of deals you're working on, what you've been up to. And then December. You know, hope all as well, maybe make a comment around something that you guys talked about. And then in the summer, it's kind of like, Oh, I got to Return offer, I'm thinking of this Or There is no return offer here. Was curious on at your shop and set it off And then it's a lot more warm. And the hit rates on those where you had a couple of touch points already is going to be. Neal, 80 plus percent, not in terms of getting an offer, but in terms of just getting a response.
ANDREW: [00:12:39] Yeah. And then they could probably put me in touch with someone who can put me in touch with someone who just goes on.
PATRICK (CEO OF WSO): [00:12:44] Exactly. So yeah, I think. Important to just try and build that, especially if you're going to try to make it done in New York, it doesn't have to be just New York. I mean, what about Toronto? You have a pretty good network there, right? Yeah, that's a lot better than New York, for sure. It's keeping that warm, too. So I would say, you know. Midst, like when I say mid-summer, probably like June ish, like when you get back to the office and you have something to say to them is giving a Short two line update and saying, Ask him how everything's going. There are things back to normal, you know, trying to make it a little more of a conversation. And that, you know, that way and you're done in August, right?
ANDREW: [00:13:29] Yep, end of August,
PATRICK (CEO OF WSO): [00:13:31] End of August, really long, so mid-August, once you have an idea, if you're getting like a return offer or whatnot, once they communicate to you, that's going to be like a surge of emails going out because you're only going to have like, say, three to four weeks to know what's going on from your. I mean, you expect to get a full time offer, right? Yeah. So if you get that, it might be a great option for you if you enjoy your time there this summer. But I know do you have any knowledge about specifically like another real estate, private equity? You know, kind of if you want to go buy side, sell side, like what's your thought process? Because this is a sell side shop, right?
ANDREW: [00:14:12] Yeah, yeah. So like as of now, like. My plan would be to go full time here, maybe like a year Or two typical like analysts and see, I like it and Either move up or leave and like kind Of if I were to leave like. I know a lot of the spots In Canada, but kind of like It's such a small community That I think It would be well worth it to start digging into the states A little more like there's some Developers like Hines, Greystone or not great, some great star, But there's like a ton of different firms out there. It would just be Getting the connections there and
PATRICK (CEO OF WSO): [00:14:50] Starting the thing. Yeah, yeah. Build us for that, even that transition two years out or three years out. Yeah. Yeah. Because I mean, it happens so early nowadays. I mean, I don't think real estate p in really those developers. I don't think it's like on an on-cycle recruiting where they're Recruiting you straight, right, When you see your IB Stint. But. Yeah, I mean, anything you can do on the front end here is going to pay big dividends in a couple of years ago. That's cool. Any sort of fallback plan, let's say things don't go well, let's say, Kobe, that you get, you guys can't go back for June, July. The economy is tanking and they say, sorry, we can't give you a full time offer. What? Yeah, well,
ANDREW: [00:15:39] Well, I already have like I've had This job in like the back of my pockets. The same thing it's Like with the federal government. It's doing like business equity Valuations or like income tax purposes. So essentially they're running like DCF, DCFS on like private companies. And it's pretty much Trying to spit out a number for like what the per share basis is for the private owners of it
PATRICK (CEO OF WSO): [00:16:03] And like pay tax on that.
ANDREW: [00:16:05] Yeah. What they would pay taxes for, but that's like its own division within like the federal government. Like, I think they base pay is like. Seventy to seventy five K And you're working maybe like thirty five hours a week,
PATRICK (CEO OF WSO): [00:16:20] So that's nice. You could do a side project with that.
ANDREW: [00:16:25] Exactly like that's you could do a lot of Networking Like That's that's kind of been Like my fallback plan, Like kind of since I did my first internship there.
PATRICK (CEO OF WSO): [00:16:36] So OK. And you know, you couldn't get to that in your back. Yeah, yeah, that's great. That's that's an amazing option. I mean, don't underestimate the fact that you're getting paid high, high hourly rate and you have a ton of free time to do other things. Mm hmm. Whether that's doing a startup on the side, whether that's just networking your ass off and just until you find the perfect Opportunity to Jump in a year or two If you want it. I mean.
ANDREW:[00:17:02] So definitely it's just something in my back pocket, for sure.
PATRICK (CEO OF WSO): [00:17:06] No, that's great, that's good to hear. And then. Yeah, I guess in terms of number of hours, like how much time are you putting right now per week with school? I know it's probably not as much. And then with other stuff with like the with the course, the courses you're taking online, that's good. And then like the networking, what would you say the split is right now? Uh.
ANDREW: [00:17:32] I'm not even sure the split, but like kind of on like the per day I'd say, like the courses I was doing, probably like a quarter of the day, like LinkedIn, like 10 percent and then school and kind of just like moving out of like my old apartment and like getting things rearranged just kind of just take up the remainder. So that's been it for now.
PATRICK (CEO OF WSO): [00:17:56] Got it. Cool. Yeah, I mean, I think, are you hitting if I look at your LinkedIn, how many connections are we up to now?
ANDREW: [00:18:05] Like five, 30? Give or take? So it's definitely not up there, up there by any
PATRICK (CEO OF WSO): [00:18:11] Means, but you've got to get over a thousand.
ANDREW: [00:18:15] I can. I can bet that would be over a thousand by Next month, mid-June,
PATRICK (CEO OF WSO): [00:18:21] By mid early June. You can do better than that date. I'm telling you can do better than that. Like, like John, who's been hustling, he's been doing it for like a month. He skyrocketed. I mean, you can do one hundred connections a day. And the downside the only downside is you just may get filled, your counter may get filled up with calls, you may have to talk to old people like me longer than For a big part, for several hours a day. But I wish somebody Had told me this earlier, like I wasn't as aggressive as I should have been. It's really all about who you know, it really is. And so I don't want you to. You know, go on LinkedIn for 30 minutes a day or twice 20 people and think like, that's good enough because it's not going to the no, it's just a numbers game, it's not going to. The funnel is not you're not feeding the top of the funnel enough to actually develop strong relationships. So you know, the difference between 10 and 20 requests a day versus one hundred a day is 10x. That means 10x falling all the way down. So that means instead of two calls a week, you're getting 15 calls a week. It sounds crazy like why would I be doing that right now? It's actually a great time to be doing it right now. People are home. They have time. They especially when you don't need anything. This is the time when it's the hardest to Motivate, but it's actually The easiest time to network because you're not asking for anything right now. It's just truly Getting to know them. It's truly genuine. It's truly about building relationships. It's actually a time when people want to kind of like, maybe you can talk about people who went through the 2008 financial crisis. What was that like learning a little bit about that, learning a little bit about how they position themselves, especially in the real estate side? I don't know. It's probably pretty interesting. Things happened. I read that a third of People like miss rent in the U.S. in April. Mm hmm. Like, how does that going? How is that going to trickle through? The real estate about the developers and the landlords are pretty dramatic. But yeah, I think The more aggressive you can get on it, man, the more like just even just doing it if it's really painful for you, maybe like if you're going to the gym in the morning or not, obviously you can't go to the gym. But if you're working out In the morning doing Doing this like either right after or right before for an hour, yeah, just getting it out of the way, I think would be a good, a good way to kind of just stay steady with it. Because it's not going to build it into the routine or whatever, build it in the routine Because it's something that. Literally, if you do this, literally, I can almost guarantee in a year or two you'll be like, Oh my gosh, that one connection I made was like just a massive win. And if you don't do it, guess what? You'll be Fine too, But you won't have as many options. You won't have potentially that huge, game changing career change. Yeah. Got it. It won't be there because you just didn't put in the work. And so like, you don't know what you don't know. You don't know what's out there if you're not talking to people and like the number of opportunities that open up to you with each additional request, you send out each additional conversation you have because like so, the connection request is just a way to get Calls and build relationships. That's it. Yeah. So when we say Networking, I always hate the word networking because it's like it's implying like, oh, I'm working, like, I'm working this conversation with you and I'm trying to like, get something out of It Instead of like, Let me actually understand who you are. Let me see if I can add value to you. Let me see if I can there's anything I can do. So, yeah, Take an actual interest in them. Like, take good notes when you're on the calls with them, see if there's stuff that pops into your head, Like you're reading about something and it's relevant to what they were doing or deals, they were on That type of stuff. I think it's really important to foster that. And then if you're able To do that? With say, like, let's say you reach out to in the next few months, you reach out to. I'm going to throw out a number, let's say, one hundred a day, say, let's say you reach out to connect your request, three thousand people, you know, eight hundred people connect with you and you know, one hundred people get on a call with you. Mm hmm. Or 80 people get on A call with you, or 60 people get on a call with you. And out of those 20, you develop really good relationships with. Mm hmm. That's a super strong foundation now. But you see how big the funnel has to be at the top. Yeah. To get to that. Oh, for sure. So I know we've talked about it a lot, I just want to make sure that like. That you try to work it into your schedule because you won't see it now and you don't see a lot of the value of it now, but I promise you, in several Years, like having built that up. Especially if you lose your job. Mm hmm. Especially if unexpected, your job like your network's everything, like if you if you're going in cold, if you need something and you're not networking or you're unemployed in your networking, it is. It is hard. People can smell that from a mile away. And like, they're like, Oh gosh, I don't. I don't have anything, man. Sorry, I can't do it. Whereas if you've already Built-up that conversation and you're like, Hey, man, I got, do you know anybody? They're like, Oh shit, like Andrew:? Yeah, I remember. I remember chatting with that guy a couple times, and he's so nice and They're going to try to hold stuff for you. Yeah. So it's a nice little insurance policy to have that big network and actual real network. And it's also incredible it's both insurance and it's incredible. Option value. Um, for for the upside, so like totally outsized returns based On that, that one Can actually. The problem is you don't know which one it's going to be right. So. I think good thing that John's been doing is he goes to a state school, so he started off with like all the California state schools and he went through that. That was They were really people were really Receptive about that. And then now he say, What should I do next? I'm like, just hit any state school. So he's starting to do that, like going to Michigan, and he's gotten some great, he said. He's gotten some great calls like people already talking about, like going a couple of years. I help Bring lateral analysts Over to Harris Williams, so he's talking about that. So like, If he can get any sort Of job and he has an internship kind of lined up right now, but when he Graduates, that has a good chance of converting to full time. And I basically told him, even if you have to work for basically free or like ten dollars an hour or eight dollars an hour, You take that job because once you have That, a few deals on your resume, you can make a lateral jump to a very strong middle market bank like a Harris Williams or Houlihan or whatever. And then you're often. Um, and so, yeah, he got that, but. He's been getting super aggressive with it. I've been like hammering him too with it. I think people, I think it's uncomfortable, right? It's like uncomfortable. It's a little bit awkward. But just think of it as a way of like, you're just having conversations and get Comfortable with that. Yeah. Oh for sure. Get comfortable with that because it's Going to be one of the most valuable skills you ever learn, even if you're never directly in sales.
ANDREW: [00:25:52] Yeah, definitely. Sounds good. You're always one,
PATRICK (CEO OF WSO): [00:25:56] Always going to be selling yourself for the rest of your life. Yeah, you're gonna be selling your skills, you're gonna be selling everything so like. The more kind of people that know of you. And the brand that you build early on in your career, the easier you're going to build a lateral to move, to jump, to jump up and across. It's going to give you so much more flexibility. So it's really like, think of a kid who freshman year starts, and by the time he graduates, he knows. He's had five hundred conversations or thousand conversations and think of the kid who's kind of shy and just doesn't bother and thinks this networking thing is a joke, and he has 10 to 20, 10 to 20 conversations over those four years with the five hundred conversations. He just has a whole world Open to him, a whole world of mentors that he can tap. So yeah, it's a little bit of a rant, but It doesn't take that much work just to listen to people talk about themselves. Really? Yeah. And you know, You might actually be able to learn a lot about the industries in the different nuances and stuff like that, which is cool. Mm hmm. Oh, for sure. But yeah, what else is going on? So I mean, your home things are kind of getting settled in, it sounds like.
ANDREW: [00:27:09] Yeah, pretty much like kind of. My only thing right now is like with school kind of like moving online and everything and say, like this is still bad in like September. So would you like recommend like pushing, pushing graduation back like another four months? I think we'd like earlier Discussed, like May of twenty one. Like, would you still say that's safe putting you like push it back further, Putting you on cycle? You mean what you already on cycle? You'd be graduating in May. Mm hmm. I would try to stay there. I mean, I don't know. It depends on your internship, really. I feel like, Hey, we want you to start then.
PATRICK (CEO OF WSO): [00:27:52] Yeah, just finish. Ok? And even though I'm no epidemiologist or doctor or an I know very little about the spread of disease, my guess just based on numbers is,
Like I Said, probably not back to any sort of normal state till mid-May. Mm hmm. And even then, it's going to be like semi. It's going to be a slow process until testing is ramped at once, testing is ramped, you have a lot more options because you can start kind of quarantining and the people who when there is kind of a little mini Outbreak, you can quickly shut Things down And locally rather than it Being like everyone shut down everything. Got it. So I think that hopefully by year end is what's happening and like, we're kind of there's the article, I'm sure you read it the hammer in the dance. Have you read that article? No, I don't think I have the Hammers like basically all about flattening the curve and doing this. Okay? You know, the dances. Once you actually start relaxing things again, you know, cases are going to go back up and surge. So the question is, you've got to keep it down below the growth factor one. So that's not exponentially growing. And so I think that dance is going, it's going to be really interesting in order to do that dance and win at that dance, you basically have to have testing ramped so that you know what the true growth factor is. So if like we if people go back to school, let's say you go back to school in September and then Toronto, there's another big outbreak, you know, it starts kind of scaling up and then boom, everyone has to go work from home and online again. Yeah. So. And so it might be a little bit of like the staggered, staggered start stop start stop, which is going to be pretty rough for the economy, but hopefully something we can contain. Yeah. So how can I be helpful? What else?
ANDREW: [00:29:39] Um. Kind of like. As of now, like you work from home pretty much all the time, so like what are some tricks and tips Of the game that you would?
PATRICK (CEO OF WSO): [00:29:53] Well, I'm not used to it because like my kids are now all home all day, so I actually had to get a lock on my door Because they were just busting in Like all these calls and like doing their own thing. But now I think routine is huge. Like if You can just book your calendar up So that you have to wake up four in the morning. That's big, because otherwise it's like, you know, you can be online, Netflix, everything like t can be like just you get into a bad pattern of like Health And anxiety Reading the news all day, every day. Like, I think it's good to have a little bit, But and be up to date, but looking at it For five hours and reviewing the same numbers for five hours and nobody any good for anxiety and Stuff. So you got to take care of Your mental health, you know? Yeah, for sure. But yeah, I'd say just setting a routine is key. Having some goals each day and each week would be big for you, especially would be more instruction. I think it's easier for me when I have a whole team to manage and people are like pinging me and asking me questions like I don't have an option but to be on. Whereas where you have like online classes, there are a lot more distractions. You got three monitors, You know what I mean? It's harder. So I would definitely try to get the painful stuff out of the way in the morning. Yeah, for sure. And then give yourself a reward, give yourself an afternoon of rewards if you're really, really productive in the morning. Um. That would probably make you much. Much more productive.
ANDREW: [00:31:34] Yeah, oh for sure. That sounds good.
PATRICK (CEO OF WSO): [00:31:38] And then, yeah, the other stuff in terms of the networking, I know it's a broken record and stuff like that. I just really want you to appreciate like the outsized returns you get from it. Um, and take it seriously, because it's something that I can almost guarantee if you put in the work now and the people you meet now are going to be in some way shape or form, especially if your class is pretty small in this internship class, like how many people are going to be joining with you.
ANDREW: [00:32:08] I think it is like five.
PATRICK (CEO OF WSO): [00:32:09] five people like, so you don't have the benefit of working at a bulge bracket, internship or bulge bracket bank where you have you have an automatic network of one hundred other analysts that are going to scatter in a few years and all the top private equity firms, you don't have that. So it's even more important that you put in the work. Yeah, because I can tell you then the 12 or so analysts that I started with at Rothchild, like a couple more, are still good friends, one like save my ass when I got fired like that, those networks matter, you know? So yeah, And that was only 12 people. If I had been smarter about it, I would have been building other relationships at other and other banks and stuff earlier. But. You know, when you're young, it's tough to convince. It doesn't convince people that it's important. So yeah. But anyways, I think and then it sounds like you're spending your time productively, you're doing some courses, online courses, which is good. Men. It's good stuff, anything, anything else, I think that's it from my side, I don't want to keep repeating myself.
ANDREW: [00:33:18] Yes, I think we've covered quite a lot of it. Yeah, I look forward to kind of doing like the next call Where I've I've Actually started and kind of like What I'm actually sinking my Teeth into. I think that'd be really cool to Put out there, you know?
PATRICK (CEO OF WSO): [00:33:33] Yeah, yeah, for sure. Let's see if you can get yourself up over a thousand connections.
ANDREW: [00:33:39] Yeah, no. I got to definitely it.
PATRICK (CEO OF WSO): [00:33:42] I do sales navigator on that. Do you? I don't. I don't use that. Ok, yeah. So I can share my screen and just give you some ideas. So I think we did this, didn't we? Yeah, yeah. Like sales now have just literally hit up anybody, but you kind of started doing it, I guess You already know. Yeah. So yeah, just hitting up that and. Like. Attacking it, just attacking it every day, I think just at least 20 men, at least 20 connection requests a day. Because it's the same copy paste thing for like if you're hitting up the same type of people, it's that literally will take you 10 minutes. Yeah. Exactly like ten minutes a day. That's the only thing I'll request of you for this month.
ANDREW: [00:34:30] Yeah, I'll get on the connection Train and then hopefully be.
PATRICK (CEO OF WSO): [00:34:35] And in your message, just got to be sensitive. I know it's crazy times right now. Totally understand if you can't talk. Just wanted to. I already have an internship lined up. I just was curious to learn more about your path and x y z firm. That's all I have to say. Yeah. Awesome. And that'll get you a long way. I think you'll get a lot more calls than you think.
ANDREW: [00:34:58] I hope so. Yeah. I think it'll be good calling.
PATRICK (CEO OF WSO): [00:35:02] Well, listen. Stay in touch. Ping me. If there's any questions or anything changes with your internship and you need any advice. Then yeah, we'll stay in touch with this next month and I'll talk to you, I guess, in early May. Hopefully at that point, your internship has kicked off and you're you'll be from home. But. Hopefully, they can give you some real, real experience.
ANDREW: [00:35:22] Yeah, I'm looking forward to it.
PATRICK (CEO OF WSO): [00:35:25] All right. We'll chat soon.
ANDREW: [00:35:27] Awesome. Thanks. Bye.
PATRICK (CEO OF WSO): [00:35:29] And thanks to you, my listeners at Wall Street Oasis. If you have any suggestions whatsoever, please don't hesitate to send them my way. Patrick at Wall Street Oasis dot com. And till next time.
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