Monkey to Millions | Andrew (Session 6) - Is This Plan on LinkedIn Crazy? - Jan 14, 2020
About
In this session, we learn that Andrew had a relaxing break and is now looking to gear up for his next sprint into the Spring semester. We take a quick look at his revised resume and talk about the plan on building up his connections in New York leading up to his trip there (now planned for late April). With a summer internship already lined up, it's tempting to take the foot off the gas, but I want to make sure that he is taking advantage of a light course load and that upcoming trip the the Big Apple in a few short months.
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WSO Podcast (Episode 6) 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. We learn that Andrew had a relaxing break and is now looking to gear up for his next sprint into the spring semester. We take a quick look at his revised resume and talk about the plan on building up his connections in New York, leading up to his trip there, which is now planned for late April with a summer internship already lined up. It's tempting to take the foot off the gas, but I want to make sure that he's really taking advantage of the light course load and that the upcoming trip to the Big Apple and a few short months is very fruitful. But first, take a listen from Andrew himself from the weeks leading up to this session.
ANDREW: [00:01:45] Etc. Just a review of the last week, week and a bit. Just finished up my last week at PSP Investments on Friday around noon. Didn't really do too much that week. Kind of just got my final like reviews and everything like that and closed off whatever I was working on and pour that into my seniors. Kind of from there my other time, I ended up fixing up my resume to make it more like New York a fight, I guess you can say. So I finished that up, afford that tedium of today. I'm just at the airport right now, so you can probably hear that before that your way. And additionally, I've started to collect a list for my New York contacts, and at the same time, I'm also building my Toronto base have actually had a few people reach out to me from the podcast, just some random people that we end up having a few tools with on LinkedIn. So I kind of see where those go. And it's kind of basically when I get back, I'm just going to start kind of the pavement a little more on the New York side of things. And also, the Excel courses was pretty comprehensive, I think four or five modules in and now I'm just going to start hammering away at that this following week while working on the CFA case competition. So yeah, that's that's basically it. Looking forward to to start compiling that list even more and start reaching out. It's only three months away or so. Yeah, so it's looking good from this end and also starting to reach out to like recruiters that I interviewed with this season, just letting them know that I have this position and see if they'd have any like off cycle like internships. I know like RBC M&A would be one group that I'd be interested in for for Toronto, and I had good traction there before. So kind of just see where things go. And yeah, that's about it. Looking forward to our call, I think two weeks from now. Yeah. Touch based on just a little update from kind of our last chat with two weeks ago didn't really do too much this last week, just as schools started getting a little heavier. And one of my strategy classes, we had to do a few cases and we just got assigned groups and it kind of just went downhill from there. And on top of that, the CFA challenge was putting a lot more time than that with my team, so probably only got 10 requests. It was pretty lazy week and probably should be getting out more. But I end up having a call set up for next week. So kind of seeing where that goes, he's actually an alum from like the school right next to mine here and all facts. So kind of see where that goes. So he's Holly on. So things private debt, so hopefully have a good chat with him. Kind of see what his whole process was like from getting from Halifax to New York. I see that he was at a he's a pretty small boutique. I'm not sure the name a little bit more research before I go on the call with him. So kind of just gold going forward in the next little bit is just trying to understand what he does so it can have a productive call, get more messages out and just try to finish up all my little cases and everything that I have to do for school. So that's about it. Check back in and a little bit like it's kind of a little recap the last week. I think we're having a call either next week or the week after. So I ended up having that call with a guy from Orleans. Got really good insights there. Turns out he's actually did high school in New York and did all of his internship in New York, so the switch wasn't as hard for him. So I mean, not the best advice, but kind of shot on my resume and got some more questions from him. Just he thinks that I'd be able to probably make the transition to New York fairly easily. Just having that dual citizenship like I have is critical, apparently, so that's pretty good. Also sent off probably another like 20 targeted connections, mostly to like Queens, Queens alumni, basically not the best hit rate from them, but whenever I went to like some of the U of T people like, especially more on the real estate, they accepted pretty quickly. But I and I sent like the connected message, but no real responses yet. So on that of the yacht, guys and real estate guys is probably like 10 and like three or four responded. And I was like, pretty much just today, I started doing those guys so pretty hopeful on that front. And yeah, I'm just going to keep on it from here. And that's kind of the recap of the last week. So I'll be uploading this one. I don't think I uploaded my last week's one, so we'll be going up together. We'll chat next week.
PATRICK (CEO OF WSO): [00:06:52] All right, Andrew, what is this episode six?
ANDREW: [00:06:55] I don't even know. I think I think we had at some point we were doing like two a month, but now we just started slowing down a bit.
PATRICK (CEO OF WSO): [00:07:00] But yeah, I mean, we had the emergency private equity session early on, which kind of threw us for a loop. Yeah. But yeah, so it'd be great to catch up. It sounds like you were taking it easy over break a little bit.
ANDREW: [00:07:15] Yeah, for sure. Yeah. So I went I flew back from Montreal to Halifax just before Christmas kind of just hung out all Christmas break and honestly didn't really do too much. Actually, on the day I was at the airport, I redid my resume and I think I just flipped that to you. Maybe you did. It did or didn't get it. I think I sent it like right before my flight. But I mean, if not, we can go over that now. Yeah. Let me get up. Yeah. And then kind of besides that, me and some of the other like investment fund kids in my school started like the CFA Research Challenge, so we started taking a deep dive into Canadian telecom. So that ever exciting industry. But yeah, no, it's honestly been like that over the past couple of weeks, just trying to figure out all my dates too. We actually got our Toronto dates figured out and I can pull that off. And second should be, I think it's like the towards the end of February. So that one's not like a huge. A huge like it's not very urgent for me because I already have quite a few people I can call in there, but I found out that you Also have the internship there. Yeah, yeah. And the New York trip got pushed till the end of April now. So it's the 20th to the 23rd. That's great. I suppose that's supposed to coincide with the CFA Research Challenge. So if we win, we get our flights paid for and everything. But I mean, even if we don't win our local one, I think we still get to go. And I think that'd be a great opportunity there. I mean, I haven't reached out to too many people there yet, but. I think, yeah, even if I start just now, I think I can get a pretty good group together and just set up a ton of coffee chats, so that's kind of where I am now. I'm I'm working two days a week, so I restarted my where I did my first internship ever in like the tax auditor position. So I going back to that. So I'm actually going there at eight a.m. tomorrow and Then you're helping them out. You're starting back up and just helping them out. Yeah, that's nice. So that's just the casual work.
PATRICK (CEO OF WSO): [00:09:36] You get paid for it.
ANDREW: [00:09:38] Yeah. Yeah, it's like a little more than 20 bucks an hour. I mean, no, I'm not insane work, but it's all good.
PATRICK (CEO OF WSO): [00:09:45] So let me share my screen. To here. It's a little crazy I have like 500 tabs open, but I could still see the upper right, but. So what did you change here? I see this dual citizen candidate. You moment to say USA there. It looks a little weird with the wrapping. Yeah, for sure. For sure. But I guess you want two rows or two lines, maybe to get to you might be able to put your address or put an address up there. Yeah. So you can have dual citizen of Canada in the USA is epira and then have like a non bolded address in there, OK, for that line, just as there's some balance. What else did you change in here? So you added
ANDREW: [00:10:34] That in just to kind of have it there to show people what I'll be doing next summer. And I pretty much just took it was either like, whoa template or some other template that I found that would be like summer analyst like typical roles.
PATRICK (CEO OF WSO): [00:10:48] Yeah. In terms of is the name digital capital markets, that's the name of the company. Yeah. Is what you're going to be doing. Mostly capital markets work. Remind me or do
ANDREW: [00:10:58] Anything that's just kind of just the name of the companies. The thing is mostly IP.
PATRICK (CEO OF WSO): [00:11:03] Yeah. I mean, capital markets under IBB, but typically considered under IBB, but still, OK, cool. And then you have the transaction experience. This is great.
ANDREW: [00:11:13] Mm hmm. Yeah. So the the first one there, it's kind of like an ongoing partnership that they have with this company in San Francisco. So it's like they've committed like 300 million in this one fund, basically in the kind of just go through it on that basis and evaluate deals like as they come. And then with the 42 million industrial portfolio,
PATRICK (CEO OF WSO): [00:11:40] The three hundred million, it's not like a one deal. It's like more like they funded, they funded a portfolio. They put money aside for a fund where they make acquisitions out of that in multifamily.
ANDREW: [00:11:51] Yeah, exactly. Because the so the San Francisco market's actually pretty cool. So like, it's really fragmented. There's not very many like high rise apartment buildings. So like there's a pretty unique position where you can acquire like all these like probably between like 10 and like 30 unit buildings that aren't like that big and they have like a huge room for or there's a huge upside for rentals. No, yeah, because they've been held down for so long, because actually a lot of the tenants, like a lot of the tenants, had actually been there since, like the 90s, so it's a really cool opportunity to renovate that.
PATRICK (CEO OF WSO): [00:12:30] That's interesting. And then specifically, so like in terms of the transaction experience you've got to be careful with here is that they may ask you like specific numbers like especially if you get into like a private equity interview. So like to be able to talk about. You know, specifically, the $300 million acquisition for the portfolio talked about the portfolio's overall numbers and metrics. Yeah, I think it's going to be important. So do you feel comfortable doing that?
ANDREW: [00:13:00] Yeah, like a lot of like the net levered returns would be like upwards of 10 percent like cap rates. They usually are like acquired like around like three or five cap expand a little bit, probably closer to like a four, four and a half cap. And that's kind of like the whole portfolio is like right around that and.
PATRICK (CEO OF WSO): [00:13:22] Ok. Like, oh yeah, as long as you can, just as long as you can talk to it, I think it's important and just give an opinion in terms of, like you said, yeah, you think it's a great investment because it has a lot of upside with what you just mentioned. I think that's great. Yeah, exactly. In terms of this other one that closed industrial portfolio, so the responsibly include updating financial models based on bids submitted during trying to address. Svp, senior vice president, Yeah, OK, so what else did you change on this? It looks pretty besides. So Desjardin obviously is a big one.
ANDREW: [00:13:59] Mm hmm. I think I think I I moved the impact fund from experience the leadership, and I think that was basically it. I took out the the tax auditor position because that wasn't it wouldn't be very relevant to what I'm applying to now. So kind of my thought process would be. Maybe to add a little bit more, either on PSP or maybe more interest and kind of or maybe more skills, things like that.
PATRICK (CEO OF WSO): [00:14:31] Yeah, I mean, I think it's pretty strong right now, honestly, man, I wouldn't worry too much more about the resume, just looking at it like your GPA looks great. You're expected to date a graduation, it's kind of haven't you pushed it back a little bit?
ANDREW: [00:14:47] Not not like officially, but I haven't really like applied for a graduation yet. So I mean, I can always change it to the May. That's not a huge deal, but I know, yeah, we talked about changing that for fall internships. So it's definitely something.
PATRICK (CEO OF WSO): [00:15:03] Just the thought as you start kind of using it. Just be cognizant of like where you're actually where you're sending things, saying We're the timeline is Especially us because I think there'll be a lot they'll be a lot more questions if versus if you have May 20, twenty one in there, It'll be a maze like the standard like on cycle hiring, right? Yeah. May or June. Yeah. So. I'm trying to think so, that means May 20, twenty one, that's basically you're in a bit. Yeah, you're in a bit away. It's crazy, it's crazy. So yeah, it's good. You got thank goodness for this position is a big win when you got that. And you're going to be starting in you start that early, OK?
ANDREW: [00:15:51] Yes, it's made to the end of August. So long, buddy. Yes, I do. My buddy is going to New York and he's I don't think he starts to like. Mid-june, so. Like right around there,
PATRICK (CEO OF WSO): [00:16:04] So you go all the way to Augusta is insane. Yeah, they're getting a nice long look at you. Yeah, if they want to extend you, do you know what the offer rate is for returns there?
ANDREW: [00:16:16] No, I'm not very sure what the guy I chatted with who'd actually was like the only lump for my school, like ever there. Yeah, he actually interviewed me for a Super Day and he said they just do it basically on what the requirements are. It's a smaller shop, so.
PATRICK (CEO OF WSO): [00:16:31] And is it? How many summer analysts typically go in? Like five three?
ANDREW: [00:16:36] I think it's Only like two. Ok. Yeah.
PATRICK (CEO OF WSO): [00:16:39] Yeah. So it's kind of like going to be very important that you're. It's kind of stinks that it goes all the way through the summer. Yeah, yeah, it ended in like. July end of July. And you could go to New York and like. Do some crazy like celebrity recruiting, some super furry like those, those last few seats that don't get filled. Yeah, exactly. That's going to be your best bet, but the fact that you're in Toronto is a huge win in terms of other opportunities there, like so you should be because you don't know what's going to happen because it's a small firm with only to some analysts, you should be pretty aggressive throughout the summer in terms of like continually building up your network and meeting with people. Sure. Talking about your deals, keeping people updated, thanking them. And yeah, and then once you get there and you can have like a deal or two on here, definitely reducing some of this.
ANDREW: [00:17:36] Yeah, I can. I definitely see a ton of room like especially like Impact Fund or even president like access. Like, there's so much I can take out there.
PATRICK (CEO OF WSO): [00:17:44] Yeah, even the Russell Medal, you could probably get it, too. Two lines that bullet, you know for sure, are the thoughts, really. They look, they look great. Yeah, I'm just making sure I don't know if I'm going blind or what, but I just want to make sure no
ANDREW: [00:17:59] One one mistake the six analysts I still have in. Capitalized analyst
PATRICK (CEO OF WSO): [00:18:04] Yeah. And the four looks bold, but that could just be from the PDF. I think that's it's the PDF. I think, yeah, there's some sizing issues. I think this is right. The bullets are smaller font than the titles and. This land, such a transaction experienced a little more indented, which I don't have a problem with. Yeah, I think overall, I think it's pretty strong. I wouldn't waste too much more time on the resume so much. I think it's looking pretty polished. Anything I might change is this expected graduation,
ANDREW: [00:18:34] Just the date and the cut down United States. Just the USA. Exactly. An address. Yeah. Got it.
PATRICK (CEO OF WSO): [00:18:40] Exactly. And then. In terms of specifically. Your networking, you want to talk about that a little bit and just. I know you're. You took it easy a little bit for a while.
ANDREW: [00:18:56] Yeah, like kind of right now, like my biggest thing is just getting like a whole list of names just together and kind of just starting to fire off emails on like I'm doing like this is kind of like high level me, maybe like, have a phone call within these next couple weeks. So like what? We're mid-January now. I don't go till late April. So if I can plan a call for between now and maybe like March, I think that'd be pretty big and then just Plan a call with you. What do you mean? Plan a call with Like someone in New York just to let them know like who I am and everything. Just give them a high level and then kind of just mention at like the end of our call or just say, Yeah, I'll be in New York for like CFS and Stuff like that and start booking your calendar. This is when I'll be there.
PATRICK (CEO OF WSO): [00:19:41] Do you know the dates? Like, can you go a couple of days earlier, a couple say a couple days later?
ANDREW: [00:19:46] Yeah, I think I will, because it's what I thought it was the end of April 24th.
PATRICK (CEO OF WSO): [00:19:56] Cool. Yeah, I think that's going to be important, I think. The good news is it got pushed back. That's actually good for you. Gives you that much more time to make sure your days are full. Have you started the just? Have you started the LinkedIn outreach a little bit in terms of New York?
ANDREW: [00:20:20] I think we just got out there for a little bit, yeah, I
PATRICK (CEO OF WSO): [00:20:22] Cut out, did you have you started the LinkedIn outreach for New York? A lot or just a little bit?
ANDREW: [00:20:28] No, not very much at all. Like, if anything, like I was just more of trying to like Touch Base with people in Toronto. But I'll start at the start of the New York one pretty soon.
PATRICK (CEO OF WSO): [00:20:38] Yeah, I don't know. I'm nervous. I'm nervous to tell you, like, go all in with New York because you already have the Toronto Summer analyst gig. And like, I just don't know how big the market is for I be in Toronto, like it's definitely bigger than Montreal or anything like that, like it's compared to anywhere else in Canada. It's the place to be. But compared to New York, it's tiny. At the same time you're there, you're going to be there all summer. So it's a huge advantage for landing something there versus New York. You're going to have like this very finite time to meet people. So I'm just I'm a little nervous to like, have you spend like three months heavy networking in New York just to set up three or four days and then potentially have nothing to show for it? Yeah. I mean, it wouldn't be anything you'd still have a good network there, but something that might actually pan out for end of the summer, too, as you are keeping them updated. But so yeah, I think. Depending on how fast you can push, what's your course will look like?
ANDREW: [00:21:44] I'm only in like two actual courses, one online, so. Mean, like all I can have, like quite a bit of free time just to shoot off messages.
PATRICK (CEO OF WSO): [00:21:54] Are you trying to party right now or are you going to be honest?
ANDREW: [00:22:00] Only really on weekends.
PATRICK (CEO OF WSO): [00:22:06] Oh, weekends, OK? I mean, now that you have the summer analyst, it's tough not to right now. It's tough to keep going because, you know, is your college days. So I'll say like and in terms of like splitting your week, like if you think of your class is taking up. Let's say, like 10 hours a week, you're in class for like three or four. Yeah. And you're doing like five hours of homework, Max, six hours of studying, so yeah, really only 10 hours a week. If you think of like the rest of it, like spending 30 hours on. The networking, you can do a lot of damage and still have a great time. You know? You know, no, exactly. So I guess the question is like the focus, I think. Over the next month, what you should do is see what your hit rate is on the New York requests are, so are you just like? I think you can do about one hundred a day.
ANDREW: [00:23:09] Yeah. Yeah, I think you mentioned that.
PATRICK (CEO OF WSO): [00:23:11] And I think you should be doing one hundred a day because once you do a filter search, just literally click copy paste, click copy paste. I take it an hour. It yeah. Well, you get fast, it'll take you an hour once you get your message down, you know what I mean? I think it could I think you could do 100 a day, which means in a month you're looking at about 3000 connection requests. Of which probably a third of them will accept. I think so could have a thousand connections to bankers in New York within a month. Mm hmm. Connections meaning nothing like they just connected you on LinkedIn means very little. But then from there you can send emails.
ANDREW: [00:23:58] Yeah, exactly.
PATRICK (CEO OF WSO): [00:23:59] And so from there then it's all about starting, and then it becomes a little more tedious because then you actually have to like, look at their background and be a little bit more thoughtful. See it. Once you see who connects to you, you can say, Hey, you recently click on LinkedIn. Thanks for thanks for accepting. And I can help you structure this email. Like, I'd love to get on on a call for just 10 minutes to hear a little bit more at your time at XYZ Bank. I currently have an internship lined up for next summer in Toronto, but I'm also potentially interested in working full time in New York once I graduate. Mm hmm. You put it like I'm a dual citizen. Exactly. Something like that, and then I hope to chat soon and maybe give them a couple of times at your free or something like that. Yeah, for sure. I think if you do something like that for. You know, even if, let's say it's only five hundred people and you reach out over the following month to, let's say, a couple of hundred people, I'm pretty sure you'll get probably like 40, 30 to 40 calls. And from that, potentially 10 to 20 meet ups. In person. Mm hmm. Which should be enough to even potentially get you an offer in New York for this summer, which I don't know if you want to take because I don't know if you want to burn the bridge. But it could be something where you could just show be like, Hey, really potentially interested. I just don't want to turn down unless it's like for an amazing opportunity. Yeah, how would you feel about that, I don't know, that's kind of a that's a tough question because it's like it's a loaded question. It's one of those things where like, do you renege? And it totally depends on the situation, I guess, and I could give you some guidance when that comes, when that comes about. Um. Because that's a super tough thing you don't want to like, you get a super competitive offer in Toronto. You don't want to renege on it. Yeah, yeah, unless it's like. Yes, it's an obvious like big upgrade or whatever. So. What do you think is that are those numbers, do they sound reasonable or do they sound crazy?
ANDREW: [00:26:15] No, no. It doesn't really sound like that crazy. Like, it's pretty easy to reach out and everything.
PATRICK (CEO OF WSO): [00:26:20] So yeah, the initial connection request is super easy. It's that I think the emails are going to take a little bit longer, not because running animal takes long because you can have a template That is just tailoring it to the Person. Tailoring it. But you can even have a template that has a couple of things in there. And if you're smart about how you kind of group your contacts? And potentially how you're searching for them, I don't know if I think it was grace I was talking to and we were going through LinkedIn and I was showing her, or maybe it was John or. And basically showing them you could do a lot of if you have the sales navigator, just like I think,
ANDREW: [00:27:00] I think you were showing me that
PATRICK (CEO OF WSO): [00:27:01] One. Yeah, was it us? Yeah. So you can do a lot of searches based on them being. I would start with people who have like Canadian background.
ANDREW: [00:27:11] Yeah, I think I did like Canadian degree from like this school or that school.
PATRICK (CEO OF WSO): [00:27:16] And how do you connect to people yet or have you? Not? Not yet. Not yet. So like that's like. Immediate like right away, like after we get off the call. Yeah, actually like the first thing you do because getting on a call with them before you get out there in April is huge for sure. Awesome. What else can I help you with, I mean, it sounds like you're smart because you slow down like you have a nice month, year or a couple of months here with this semester.
ANDREW: [00:27:45] Yeah, like
PATRICK (CEO OF WSO): [00:27:47] You can do a lot of damage,
ANDREW: [00:27:49] Like my only thing now is just just LinkedIn. I mean, that's kind of it's kind of straightforward like
PATRICK (CEO OF WSO): [00:27:55] You had a lot of calls. Yeah, yeah. I think let's talk a little bit about those calls. Those intro calls because. It's really important that you come across is not just like, great thanks. Tell me more about this. Like, you know, you have to actually sound like you're interested and the questions you ask should be not so detailed and. Try hard that makes it like you're trying to sound smart, but not so generic that it's like you didn't even give any thought. Yeah. So like if they're in capital markets like ask questions related to capital markets, if they're an M&A, ask questions related to M&A. You know, don't just be generic. What's it like to work? What's the culture like? Ask more specific questions like what are the what's what are the deal teams like? There are they pretty lean in terms of analysts associate blah blah. Yeah. Just to give them a sense that you really understand what the job is like, you really understand. Like you're asking smart questions about like the deal flow pitching versus actual deal flow, what their opinion is on the strongest groups, especially if it's a more junior person. Yeah, can be a little bit more like, Hey, thanks for doing the call. Let's get the lay of land inside of XYZ for Houlihan. Let's say I know you guys have a great restructuring group and health care. And what other groups do you think would be like the most, like the best deal flow in there and blah blah blah? Then they're going be like, Oh, well, he knows. He knows he's done his homework. He knows this, this and this. He's asking for like a little bit more information, like the deeper knowledge you're going to get. You're going to get really knowledgeable on that on just a bunch of different banks, which is really helpful for sure. But yeah, just be careful because if you go into these with like super nonchalant and super generic questions, because you're just too lazy to like, look up stuff about it and then it can just like backfire.
ANDREW: [00:29:58] Yeah, sure, sure.
PATRICK (CEO OF WSO): [00:30:00] And you'll have any case you'll have an occasional blowout, occasional jerk that has a bad day. And. But then you'll have I bet you, most people will be super nice. Yeah. Any questions, anything else about the way forward? I think that's just the that's it. It's just grinding now, man.
ANDREW: [00:30:19] Yeah. Like I feel like I think the biggest problem is getting the job, honestly.
PATRICK (CEO OF WSO): [00:30:24] Yeah. So you're your weekly updates. All I want is like, Give me numbers, just numbers. Just give me numbers, be like I hit. I requested five hundred to connect to 500 people this week, and it looks like my connections went up by three hundred. You know what I mean?
ANDREW: [00:30:41] Yeah, yeah. I know exactly like.
PATRICK (CEO OF WSO): [00:30:44] And like, you're crazy. Do you think I'm crazy, but like, it doesn't hurt you, it doesn't hurt to be connected to them? It's only potentially can help you. Yeah. Like, yeah. Honestly, like, Let's hear a jerk and you make like you make a bad comment to somebody in the like, I tell you all your friends like, that's the only way it can hurt you.
ANDREW: [00:31:06] No, I don't. I don't think it's I don't think it to be too tough. Like from here, it's just the networking now, like interviews, interview seasons out are the way, and I think it's going to be like mostly smooth sailing.
PATRICK (CEO OF WSO): [00:31:19] So yeah, now's the more fun part to it. If you look at it as like fun to just talk with people and learn more and you're not dreading it. You could actually learn a lot in this stage and it actually you should you should genuinely ask questions you're curious about because you have the beauty is you already have the summer and it's often in your out reach. You can say that. So it's not like you're Desperate looking for something.Yeah, that's the best time to be talking, because then they don't feel that they feel like it's a more genuine conversation about, OK, these kids just really trying to learn about Houlihan. Hey, this kid is really just trying to learn about and hey, this kid's really just trying to learn about lizard, that type of stuff and not, Hey, this kid just wants a summer internship and not another one. Like, we don't have a summer internship. You know what I mean? Yeah, cut out for you for a second there. But yeah, and I was just the fact that, yeah, you have a job because whenever I did that, I was like last summer after I got the fall gig it was I had like so many calls and it was so easy because I'm not looking for anything from you. I just want to learn more about the industry, and that's pretty much what I did. And that's huge because they may even be willing to, like, meet up with you in person. And then that's super powerful. That's super powerful. Because then when you reach out, it's April's beautiful, too. Because April, May, June, you can maybe reach out late June. Yeah, that's what's going on. Be like, Hey, you know, I really love what you told me about X, Y Z and you if you use, I don't know if you've seen right inbox, do you have right inbox? Do you get it or no?
ANDREW: [00:32:50] I don't think I have that one. It was just the one that you guys said like a reminder.
PATRICK (CEO OF WSO): [00:32:55] And basically, let me share my email. Yeah, let me share my screen. So check this out. So if I do? Andrew? Right here, and I can be like. You know, thank you. Yeah, thanks. And then I can do I have templates I can use, I have signatures. The reminder right here. But the beauty thing is, these notes private notes for yourself. So I can be like Houlihan restructuring plus health care, the best deal flow, whatever this is, just like an example. And then save that note. So like later down the line, when I'm reaching back out, I can be like, What's this? What's this note? Or I can be like, has two kids? That's two kids, you know? Yeah, exactly. Seven and nine. You know, whatever any sort of personal notes you can do and put it in there will really help you in terms of the effectiveness. Of when you reach back out in June, so that they're like, Oh yeah, Andrew, what's up, man? I think right after those meetings, either on the phone or in person, it's super important that you take notes. Mark down three, three to five things that you can just jog your memory.
ANDREW: [00:34:11] Yeah. And I think that'd be huge.
PATRICK (CEO OF WSO): [00:34:15] How else can I help men?
ANDREW: [00:34:18] Honestly, right, right now, I feel like I'm just in like a little bit like a relaxed zone and I. I don't really know what to kick. Do you want to kick like, get going? I feel like I should be doing more, but.
PATRICK (CEO OF WSO): [00:34:33] Well, I know what you're actually spending. I mean, think about this. I said 10 hours of school. And if you actually just work 40 hours, 30 hours of networking is a lot. You do a lot of what you can. I mean, you'll hit your you can't even do. The thing is, you've got to kind of do it in a rolling portion because even connecting to one hundred people, if only a day like sorry, requesting a hundred people a day, if let's say what your conversion rate is, only 20 people, except I think it's a bit much higher because especially if you have a little node in there being like, Hey, I saw you, so you made the transition from Toronto to the park, and I would love to love to connect. Yeah, for sure. It's something a little bit personal like that. I bet you the connection rates going to be like 60 percent, 70 percent.
ANDREW: [00:35:19] Yeah. And I feel like I'm in shock right now. Like, maybe I can share my screen and show how many. Mutuals that have I just got two people,
PATRICK (CEO OF WSO): [00:35:31] I'm going to check your check it too, just to see how many people you're connected to right now. Are you not even a 500 year old? Because, you know, when you hit five hundred, it goes five hundred plus, that's why I'm teasing you.
ANDREW: [00:35:46] Yeah, yeah, no, exactly. You're on second screen.
PATRICK (CEO OF WSO): [00:35:50] Well, let me jump back in.
ANDREW: [00:35:57] Yeah, so I'm with you. Here's like the first few, I think most of them are honestly like people who worked at PSP. It looks like this guy's from like queens.
PATRICK (CEO OF WSO): [00:36:11] Yeah, yeah. There are a lot of queens in slums. Yeah, I can go
ANDREW: [00:36:16] From like kind of like who the connections are because I already have quite. Quite a few. That's the guy who interviewed me. That's funny.
PATRICK (CEO OF WSO): [00:36:27] Oh, cool. Oh, these are mutual. These are second, second degree. Yeah, yeah. Awesome.
ANDREW: [00:36:34] But a lot of quite a few. This guy actually had the same exact position as I did at PSP, so that's pretty funny.
PATRICK (CEO OF WSO): [00:36:43] And now he's at Blackstone.
A [00:36:45] Yeah, well, so he did. I met like another mutual, so this guy here. He said he basically just did I'd be with him in Montreal transition to RBC. So like demoed RBC Toronto to like RBC in New York, and then he made the switch so pretty solid. Yeah, oh for sure. Yeah.
PATRICK (CEO OF WSO): [00:37:06] So see how a lot--
ANDREW: [00:37:08] Went a lot like twenty six thousand even then, like all filters. Let's just throw in queens. That's because that's Cambridge, not the one I like
PATRICK (CEO OF WSO): [00:37:24] It doesn't want you to like. There's a reason. Area.
ANDREW: [00:37:29] Yeah, one hundred and eighty nine, so awesome. I feel like they would have quite A lot of them will say, you're welcoming. Yeah, yeah, a lot of them will say yes, a lot of lot n p. Yeah, well, so Queens has a they're in one of their investment funds. They send quite a few people to New York like Goldman. Quite a lot. Yeah, like every year. So.
PATRICK (CEO OF WSO): [00:37:54] What's pretty crazy, man, before you knew any better?
ANDREW: [00:37:57] I wish I knew. I know.
PATRICK (CEO OF WSO): [00:38:02] Oh, well, on Wall Street, it's too late. I know it's all good. Yeah, this is a lot, man. This is a ton of, you know, this is just queens. So that's awesome. Like idea. But like, literally you could do that in two days. You could request all those in two days and then email within a week to all them. Yeah. No, exactly. If you have a smart template that makes you that you can go to all these people, it's like the same kind of connection. Mm hmm. So like I can see you went to, I've made the transition over to New York.
ANDREW: [00:38:39] Yeah. So I think it's kind of like we'd love to hear more about that and kind of what do you like biggest challenges so far? That would be like on the call, but still like, I think it would be quite easy.
PATRICK (CEO OF WSO): [00:38:52] Yeah. So, OK, so what's the plan? What do you think's reasonable?
ANDREW: [00:38:57] Like, per week, I don't know, I feel like from what we just saw, I'm going to expend them all within a week.
PATRICK (CEO OF WSO): [00:39:05] Well, no, you can do one hundred a day after that.
ANDREW: [00:39:07] Like, I don't know, maybe looking. I think I think I could do it. Maybe people who went to like you like University of Texas, like anything like that. Kind of just going back to where I grew up, you know, just kind of started mentioning that throughout because that's what I did with the guy from Brookfield. When I talked to him for my interview, he was. We both grew up in Texas. I mean, we have that common link and he's like, Oh, where you? Where did you grow up in Texas? And did you do this and this? Like what sports like pretty much took up the bulk of the call, so
PATRICK (CEO OF WSO): [00:39:42] It's quite easy. Yeah, that's really smart because there's a ton of a Combs alum. You a Texas is huge. So if you use that angle for sure. Yeah, I think a lot of people at Texas know all of them are from Texas, but I'd say big percentage. Yeah, yeah, exactly. So that's really smart And actually being able To play, that's going to open up the floodgates in terms of how many people you can it up. Yeah. Let's start there. So that's awesome. So the Canadian connection and the Dallas. That's the beauty of having kind of two split personality, split geography, upbringing.
ANDREW: [00:40:17] Oh, absolutely. Glad we just brought that up. Otherwise, we would have been done within the week.
PATRICK (CEO OF WSO): [00:40:23] Yeah. And then what else? So yeah, that'll go any other things you can think of in terms of. Like extracurriculars like sports. All the power lifting is kind of a very niche.
ANDREW: [00:40:38] Yeah, I don't know, I might I might try to get into intramurals this winter.
PATRICK (CEO OF WSO): [00:40:46] That's not going to be strong enough to. It's not like you're a robot or something like.
ANDREW: [00:40:50] No, no.
PATRICK (CEO OF WSO): [00:40:52] Squash is OK. But if you don't play like competitively, I don't know if it's going to help much.
ANDREW: [00:40:57] Now we'll see, see what I can add. Throw in the mix this winter and try to make it a little bit more interesting, I guess.
PATRICK (CEO OF WSO): [00:41:03] Yeah. Well, let me know. Let me know. Once you get through the Canadian connection and the Texas connection, then you might want to actually. Kind of once you start filling up your calendar in for the New York trip. And if you can do that by the end of like. February and you have March and April to rebuild. I would almost continue to like build network. There's only so many people you can meet in person in New York while you're there. So if you can fill that up over the next six to eight weeks so that you're completely packed and then knowing you can't meet more people, you can still connect and do calls with them in New York, but then skewing back over to Toronto again. Yeah, I think she's a Toronto like, you're super before you even get there, you're just incredibly well connected there to every single banker in Toronto.
ANDREW: [00:41:58] Yeah, oh for sure. My buddy. Same school as me. He did an internship, but he's like Burgundy Asset Management, and he's going to investment banking. So we're going to like live together next summer. So he's got quite a few people he can probably connect with.
PATRICK (CEO OF WSO): [00:42:14] Perfect. Yeah, the warm intro always helps, but I don't even think you need it now. The hit rate's so high on LinkedIn if you have, like, just a personalized message. Mm hmm. Not like a more specific message of wire requesting a connection? Yeah, for sure. And if you want to shoot those over to me in a chat or on Skype or email in terms of what you're thinking of going out with before you do, like before you start this massive, massive sales scheme,
ANDREW: [00:42:45] The entire Canadian, entire Canadian force in New York. Yeah.
PATRICK (CEO OF WSO): [00:42:50] Before you start your multilevel marketing pitch to them, if you want me to take a look at that, feel free or if you feel comfortable doing it yourself, that's fine, too.
Yeah, I'll shoot that your way. We can kind of go from there. Awesome. Anything else I can help with? I think? Yeah. I think now it's just about putting your head down every four weeks. We'll just check in. If you can just send the updates every Monday, just give me more numbers and hopefully you'll enjoy yourself this semester and stuff.
ANDREW: [00:43:17] Yeah, I think I think will be good for now
PATRICK (CEO OF WSO): [00:43:19] And keep your GPA up one more year. Actually, no, you're actually fine, actually. Well, I guess you've got to kind of include your GPA if it's updated by the end of this year, but hopefully you're applying without it.
ANDREW: [00:43:34] Yeah, yeah. No, for sure.
PATRICK (CEO OF WSO): [00:43:36] Cool. Ok. So, yeah, don't worry about your GPA, just bomb your classes. But yeah, let me know if there's any way I can help in the meantime before our next meeting in February and then. Yeah, yeah. I mean, really, just like, don't underestimate this, the importance of putting in the work, though at this stage, because you're kind of paving the path right now to potentially get to New York and or Toronto full time. Like I said, it could be a total crapshoot with with when you're interning at a small bank so you don't know what they're going to offer. A good deal flow could dry up, the economy could go south and then you're like left in a bad situation. Mm hmm. No fault of your own. So everyone, everyone I'm interviewing who graduated in like two thousand eight and nine. Like, they're like nodding right now. They're like, Yep, all the offers were rescinded or I lost my job within a year. So there you go. You don't want that to be you and not be, well, connected.
ANDREW: [00:44:37] Exactly.
PATRICK (CEO OF WSO): [00:44:38] Cool. All right, man. Anything else, I think, will be good. Ok. If there's any other questions that come up in the meantime, just shoot in my way. Sounds great. Ausmin talks in.
ANDREW: [00:44:47] take it easy,
PATRICK (CEO OF WSO): [00:44:48] 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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