Advice on How to Lateral -- Networking Amateur
I am 2.5 years into ER and don't like my coverage (consumer) and want to cover Tech and to a different bank (EB//BB.) Does anyone have advice on how to do this? Applying for roles but getting 0 traction. Should I email the analyst directly and send some work or write a note for him/her on the space? Or cold email them ?
Ah, the classic move to pivot within the industry! Based on the most helpful WSO content, here's a tailored strategy for your situation:
Networking is Key: Start by leveraging LinkedIn to connect with analysts in the Tech sector at your target banks (EB/BB). A personalized connection request can go a long way. Mention your interest in the sector and your desire to learn more about their experiences.
Showcase Your Skills: Yes, sending some of your work can be a great idea. However, make it relevant. For instance, a well-researched note on a tech company or a sector trend analysis can demonstrate your analytical skills and your passion for tech. Make sure it's concise, insightful, and showcases your ability to generate value.
Cold Emails: They can work, but they need to be crafted carefully. Start with a brief introduction of yourself, express your admiration for their work or the firm, and succinctly state your interest in transitioning to Tech coverage. Attach your resume and the aforementioned note or analysis as a testament to your skills.
WSO Networking Guide: Don't forget to utilize the Networking Guide available on WSO. It's packed with strategies on how to reach out, follow up, and make meaningful connections in the industry.
Alumni Network: Check if your alma mater has alumni working in Tech ER at your target banks. Alumni are generally more willing to offer advice or assistance.
Persistence and Patience: The finance industry is competitive, and these transitions take time. Keep refining your approach based on the responses you get, and don't get discouraged by rejections.
Prepare for Interviews: While you're networking and applying, brush up on your technical skills, especially those relevant to Tech ER. Be ready to discuss your current coverage area's financial models and how those skills can translate to tech.
Remember, the key is to be proactive, patient, and persistent. Networking effectively and showcasing your genuine interest and skills in the Tech sector will eventually open the right doors for you. Good luck!
Sources: Where does ER go from here?, Who here is trying to transition careers?, Transitioning from Tech Sales to IB, Affect of the sector you cover on work/life balance for ER Associate?, Bulge Bracket ER Q&A
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