Networking In Finance (Do THIS to Break Into Investment Banking & More)

– In this video, I'm gonna show you how to properly handle
networking in finance and the number one strategy you can use to land top jobs in fields like investment banking or asset management. This is the exact same networking approach we have our students use to get responses from high level people, such as vice presidents or managing directors in fields like private
equity, asset management, and of course, investment banking.

And today, I'm gonna show
you exactly how to use this strategy to properly handle your networking in finance step by step. (beat music) So before we get into our strategy here, let's answer a big question. Why should you even care
about networking in finance? So if you're watching
this, there's probably a good chance that
you're having a hard time actually getting an interview. And why is that? Maybe you're going through
LinkedIn or Indeed, and you're just clicking
a bunch of random jobs, hitting your resume, and maybe you feel a little bit better after
sending out 50 job applications.

Do you honestly think
you're gonna hear back by just sending in a piece of paper? Unless you have a perfect
resume with a 4.0 GPA, you go to an Ivy League school, and you've got two years
worth of investment banking internships, you're probably not gonna hear back from anywhere. And that's the big problem. So, the reason why you should spend a lot more time on networking in finance is because you probably need to overshadow some of your weaknesses. Now, what are those? Like I said, it could be things like you don't have the best GPA, you don't go to a really
well known school, and you don't have any kind
of relevant experience.

And that's why networking is so important. Because when you're applying online and you're submitting a resume, you're getting defined by
a one-page piece of paper. People don't know you
or they're never gonna know your story unless you
actually talk to someone. And the problem is, you're never gonna get the chance to talk to
someone because you're not getting an interview. So that's why it's really important to start networking because
that'll give you a chance to actually talk to people that are in the companies you wanna work for, in the jobs you wanna work for, and could actually influence
whether or not you get hired. So, that's why it's a lot more important to spend your time and actually doing the networking in finance properly versus spending time just sending out a bunch of random job applications. Why is networking so effective? Think about it like this. If you're networking with
people in investment banking or asset management, private equity or any kind of really solid tier one job, essentially what you're doing is you're building connections with people that are actually working in the department you
want within companies you want and if things go well, these people on the inside
are gonna be pushing for you to actually get an interview.

So whether it's them
talking to someone in HR to flag your name or flag your resume, if you have one person pushing for you, or even better, multiple
people pushing for you to get an interview,
it's gonna dramatically increase your chances
of you actually getting an interview with a real person. At the same time, it's not only good because it increases
your chances of getting an interview, it also
opens up the potential that you're gonna find
out about other jobs that you might not have
heard about online. You could end up talking to an alumni who ends up telling you about a buddy at another firm that's actually
looking to hire someone and they might not even
have that job posted online. That's why it's really, really important to do as many networking calls as you can because you really never
know what's gonna pop up. And, in terms of your time being spent, it's a lot more effective to do this and see what happens
versus applying to a bunch of random jobs online just
by submitting your resume. So let's get into step number one here, which is finding the right
people to reach out to.

And by right people,
what do I mean by that? When you're networking in finance, you wanna reach out to
people that you maybe have something in common with. Or you have a mutual connection with. Because if you're networking with people in investment banking that
have nothing in common with you, didn't go to your school, and just a complete cold email, chances of you getting a
response are a lot lower. But, if you're reaching out to, let's say, an alumni or a family
friend, and you're able to bring that up, the
chances of you getting a response are a lot higher.

So when you're first
starting off networking in finance, you always
wanna start with people where you might have something in common. And this is kind of how I break it down. Number one, family friends
are probably the best and easiest route to go. So if you're lucky enough, maybe you know someone in the family or
you have a family friend that's in investment
banking or they're in sales and trading or whatever it is where you're probably gonna hear back from that person in terms of
actually networking with them because your parents might know 'em, your cousin might know
'em, whatever it is.

But, if you're lucky enough to have people that are actually in the industry you wanna work for and
maybe you're related to 'em, easiest, best way to start. But for most of us, we're not that lucky. So that leads me to my second
column here, which is alumni. So, obviously, one of the easiest ways to try and find people to reach out to is check out where alumni are. I'll show you in a
little bit how to do this on LinkedIn, but the reason why alumni work so well is because, again, you have something in common. And this can go even deeper than that. For example, you could
be reaching out to alumni that might have been
in the same fraternity or sorority as you, or
if you're an athlete, you could reach out to alumni that was on the lacrosse team with you or that was on the swim team with you. Whatever it is. That way, if you have an
even stronger connection than just being an
alumni, and maybe played the same sport as you,
your odds of actually hearing back from that
person are a lot higher.

Like I said, start with
family and friends, if you have those kind of connections. Otherwise, let's move
on to actually finding these alumni on LinkedIn. Finding alumni on LinkedIn is pretty easy. First, head over to your LinkedIn account, and then what you wanna
do is you wanna search for your university's name. For example, I searched
for Boston University to try and find alumni that go there, assuming this is the school I went to. Once you're on the
university's LinkedIn page, all you gotta do is head
down here to alumni, and that's gonna bring up a big list of the school's alumni. From there, we have a bunch of options to filter these alumni by. Let's say you're someone
that wants to work in Boston. Let's select we wanna target alumni that live in the greater Boston area. So we can hit that there, and then what we can do is we can
get even more in detail.

We can target them by where they work, we can target them by
the industry their in, what they studied, et cetera. The way I recommend doing it is target them by what they do. For example, finance
is a good way to do it. Then you'll get a bunch alumni here that you can target that work in finance. For example, let's say we're trying to target someone that
works in investment banking. You can scroll through the alumni list down here and just kind of keep going and keep going through,
and then we can just pick an alumni to target. So we have this student here, for example, that works in investment
banking at Moelis.

Let's say this is someone
we wanna network with. So, what's our next steps? Now that we know how to find alumni on LinkedIn, that leads to our next step, which is step two, reaching out. So before I get into this
and before I exactly show you what to put in your email templates, which you'll see in a little bit later on, I wanna cover something first, which is networking in
finance is a volume game.

A lot of students think they can reach out to 5 or 10 people and that's enough. And then they get discouraged
when no one gets back to them. Like I said, networking is a volume game. Especially if you're
networking in something like investment banking,
a lot of these people don't wanna talk to you, they don't wanna deal with students. Which is why you gotta
increase the amount of volume you're doing in terms of
reaching out to people. Now that you know how to
find people on LinkedIn to network with, you wanna get a list of a hundred names that
you can reach out to because of those 100, maybe
25 will get back to you, and then maybe half of those
will get on the phone with you. Obviously your numbers
could be better than that, but that's kind of what I use as standard. Before you even get into really pumping these emails out, get a
list of 100 different alumni or family friends or someone
you might have in common to actually reach out to. That brings me to my next point here, which is networking in finance is an email only kind of game.

Now you could do LinkedIn messaging, but it's not as effective as emailing. Why? Because a lot of higher
up people are older and they're not gonna be spending as much time on LinkedIn. Which is why you almost always just wanna put all of your time into email. People at banks are always
checking their emails, they're probably always going
through this kind of stuff and they're on that a lot more than they're gonna be on their LinkedIn. You always wanna do email only and you wanna do Gmail only. So don't use your .edu school address if you're in school. Have a dedicated professional Gmail to use when you're reaching
out to these people. Next up, you're probably wondering, "Okay, if I can't message
people on LinkedIn, "how am I gonna find their email address?" A lot easier than you think. For example, let's see
how to do it with Moelis like I kind of mentioned before. So let's say we have an alumni at Moelis that we wanna reach out to. It's pretty easy to figure out what someone's email is.

All you have to do is figure out the way each company structures
their email templates. For example, if we're trying to find what someone's email at Moelis might be, we just head over to their website and then from there, we wanna try and find someone's contact info
to see how the email addresses are actually structured. All I did here is I went over to menu, went to their senior leadership team. You got a list of people
here with their emails. Let's figure out what
their email address is. Paste it in up top and
what we got is we have first name, last name at It's literally that easy. And if you're not sure if it's actually a good email, all you have
to do is go to Google, and basically search for email testing. So, test email, and you've
got tons of services that'll literally let you
paste in an email address to see if it actually works. It's that easy, it's really not that hard to find someone's email address. So now that we know how to find alumni's email addresses, it's time to put together our actual outreach emails.

Now, this is a very,
very, very important step to do correctly. You wanna make sure when you're networking in finance, or especially networking in investment banking or
something very competitive like that, you're doing this properly. Number one, your emails
need to be short and sweet. People in investment banking or asset management or any kind of competitive tier one
type job, they're busy. They don't have time
to read your life story or even give a shit about
that in the first place. So again, when you're structuring
these outreach emails, they need to be short and sweet, like we'll kind of show
you in a little bit. Number two, you never wanna blatantly ask for a job or an internship. And I've actually seen students do this and it kind of blows my mind. People don't wanna help you. They're not gonna wanna help you unless they actually kind of know you, which is why you need
to have your phone call. You're asking for something straight up, right in your email, bad idea.

And like I show later on,
when we get to the call, it's all about structuring it
around the other person first. Getting them to tell their story, stroking their ego a little bit, then you have your ask at the end. Number three, never attach
your resume in an email unless it's asked for. Think about it, if you're
attaching your resume in an email, it's pretty
much like you're asking for a job or an internship. Unless someone's actually emailed you and asked for your resume, don't do it because again, you're
pretty much conveying that you want a job or an internship and again, people aren't gonna wanna deal with that kind of crap. So when it comes to actually
putting together your email, it should kind of be structured like this. Right off the bat, it should be entirely focused around career advice. Basically you wanna start
off with a little bit about yourself, maybe your
major or what internship you're currently doing right now.

Then maybe just a brief mention about how you stumbled upon their profile or whatever it is and at the end, all you wanna do is
ask for 5 to 10 minutes of their time to talk
about their background, their experiences and some career advice. And in a little bit, I'll show you exactly how to put these emails together. Last but not least,
another interesting thing we've kind of gone over with some students is figuring out when should
you actually send the email? When is the best time
when you're gonna get the best responses? There's been some
research done in terms of the best day to send these emails. And Tuesdays and Wednesdays
are usually the best. If you think about it,
sending it on a Monday is a bad idea because
people are gonna have a lot of emails from the weekend.

And sending it on Friday
is an even worse idea because it's a Friday. In terms of the days you wanna focus on, if you have this option, Tuesdays and Wednesdays are the best. In terms of time, this is
another important thing as well. If you send it really
early in the morning, it's gonna be loaded up in their inbox with all these other emails
they gotta go through. If you send it around
lunch, they're at lunch, they're probably not checking it. But, if you send it around 2:00 to 3:00 PM when you're kind of getting tired, you kind of wanna procrastinate,
may need a coffee, that's the best time that you should focus on sending these emails
because from what we've seen, that's when you get the
best response rates.

Okay, so, putting together
your networking email should be pretty straightforward, kind of like I said before. So again, the whole
idea here is to keep it short, simple, sweet, and
all you're really doing is asking to get them on
the phone for career advice. Here's an example we had a student use when trying to reach out to
alumni in investment banking. And this student, for
example, happened to be interning at a boutique
investment bank for the summer, and was starting to reach out now in terms of full-time opportunities.

So again, pretty simple. Let's start with the intro. One thing here and this is
kind of a little bit debated is whether you structure
something, Hello Katie or Hi Katie or Dear Mrs. X. Now, this can kind of go either way, but the way I view it is
if you're reaching out to younger people, like
let's say an analyst that just graduated, I would address them by their first name
because you're pretty much almost the same age.

If you're reaching out to someone a good amount older than you, then I would recommend using the Dear, Mr. or Mrs. X template. From there, we just get
into our first sentence, which is essentially a quick description of yourself, basically saying,
"I'm currently interning "with bank A, a boutique
investment bank, focused on "M&A advisory and am very interested "in working full-time
in investment banking. "I'm currently a rising senior at UGA "and found your LinkedIn while searching "UGA alumni in investment banking." Again, describes what he does, describes how he found her profile.

Next up, down here, "I
wanted to reach out to you "to see if you'd be willing to talk about "your experience at
SunTrust and how you started "working in the industry
over a brief phone call." One sentence, easy,
simple, describes exactly what he's looking for. Last but not least, "If
you have any availability, "I would appreciate 5 to 10
minutes to chat over the phone. "Thank you so much in advance." Again, super simple, super quick, takes five seconds for the person to read. If you time it right, and the person seems helpful, they'll get back to you. Another really important
thing to cover here is the headline. Basically, if you're
reaching out to an alumni, you wanna do something
like your school name, student seeking career advice.

So that way, if it's an
alumni, they're gonna recognize right off the bat. Okay, so for the second example here, same kind of idea. Baruch student seeking career advice. This time the person was older, so they addressed them as Dear Mr. Crane. "I am currently a
sophomore at Baruch College "studying financial mathematics." This student didn't have an internship yet so that way, they just described
themselves by their major. "I'm very interested in Point72 "and a career in the investment industry. "I came across your profile
on LinkedIn while looking "for Baruch alumni at the firm "and I would very much like to learn more "about your background,
your experience as a trader, "and your experience
with the CFA program." Put a little bit of a
personal touch on there, to make it more relevant,
which is a good idea. "If you have any availability,
I would greatly appreciate "some time to speak with
you, either over the phone "or over some coffee. "Thank you again for your
time and I look forward "to hearing from you soon." Again, short, sweet, gets to the point.

And if the person's helpful,
they're gonna get back to you. The only other thing that you wanna do in terms of these emails is
when you have a referral, all I would do is mention it somewhere in the first sentence
saying briefly who you are and who referred you. And I would also mention
that in the subject line. For example, that I would
change to something like, Bobby X Referral, UGA
student seeking career. Something like that that
just in the headline mentions that you have a referral from the person that you got it from. And that's really it, that's
really all you need to do for these email templates. You don't need to over complicate them. Again, they need to be quick reads so you're not taking up a
bunch of peoples' times, or you're not throwing
people off right away by sending them paragraphs of text that they have no desire to read at all. For step number three,
we have the phone call. What's your goal with these phone calls? Your goal is to do what you can to get these people to like you.

Because if they like you,
they're gonna be a lot more willing to help you out at the end in terms of getting your resume flagged, putting in a good word
for you, and hopefully giving you a little bit of an advantage in terms of getting an interview. And at the same time, they'll probably even give you the name of someone else to talk to as a referral. Which is great because
when you have a referral, the chances of that person responding are really, really high. But again, networking in finance is tough, especially when you're
talking about networking in investment banking. You have to expect that
going into these calls that the other person
could just be a total dick. And it happens. So you can get on a
call and you could talk to someone, they'll be really nice, really wanna help you out.

And then, the other hand,
you're gonna have calls where these people are really douchey and they're not gonna be helpful and they're gonna want to get
off the phone pretty quick. It happens. So again, that's why I said earlier, networking is really a volume game. When that happens in a call, you move on, you forget about it, you don't care. What do you wanna do prior to these calls? Obviously you wanna do
research on these people. Stalk 'em on LinkedIn. Find out about their background, find out about their
career, what they've done. See if you can see if
they've done any sports in college so maybe you
could talk about that. Just get as much info
and do as much research on these people as you can. That way when you're going into the call, you're gonna be ready with a bunch of different questions you can ask.

What kinds of questions
do you actually ask when going into these calls? And the answer is, it kind of depends. You have to feel a person out and you're never gonna know what their personality is ahead of time. For example, if you're talking to someone in investment banking
and you wanna question that's a good icebreaker, ask about one of the craziest deals
they've ever worked on. I'm sure they have a great example that they could just start talking about and talking about and talking about and that'll lead into a
bunch of other things. And then from there, it's your job to be able to go off on tangents and ask other questions.

At the same time, you
could ask more basic things like how they got into their
role in the first place. How they started their
career and what they did. You wanna get the other person talking as much as they can because
people like the sound of their own voice. They like talking and if you're asking good questions, they're
naturally gonna like you a lot better. Here's a caveat though. If you're doing all this networking work and you don't understand their job, you don't understand the industry and you're not able to ask
those kinds of questions or know what type of
industry-specific questions to ask at a time, you wanna
make sure you're ready ahead of time. Because if you're networking
with these people, and you're not asking good questions, and you don't know how
investment banking works or private equity works
and you seem kind of dumb, it's a bad idea to be networking.

Which is why it's really important to have the market knowledge and have some experience with this kind of stuff ahead of time so that way you know that you're asking the
right types of questions and you kind of sound smart
when you're asking them. Because people will be able to tell that by the way you ask certain questions. Just make sure you're
prepared ahead of time.

And again as these calls go, you're gonna have to go off on tangents. So if you find out that this guy is a huge fan of the Chicago Cubs, go talk about that. Whatever it is that you can find in common or whatever kind of common
ground you can find, that's what you wanna do. The more instances you can find of that kind of stuff,
the better the chances that they're gonna like you. So now that we're getting
to the end of the call, you've asked a bunch of great questions, things are going pretty well, this is when you have your ask. And this is really important. And there's two things you wanna do here. So assuming the call went fairly well, what you wanna ask is, "Hey you know, "I know that your bank
occasionally hires interns "or full-time analysts, do you recommend "I do anything to improve my chances "of actually landing the role?" And if the person likes you, they're nice, they could
either ask for your resume, give you some pointers, whatever it is.

Ideally they'll ask for your resume, send it over to HR, get flagged and that increases your chances
of getting an interview. Sometimes that doesn't happen or sometimes there aren't roles available. So in those kind of
cases, what you wanna do, is no matter how the call goes, even if it's not going really well, always end off by trying
to get a referral. Because like I said,
when you have a referral, the chances of that
person responding to you are really, really high
because you have the referral from the other person.

At the end, no matter what happens, always just say something like this, "Hey, thanks again for your time today. "I really appreciate you taking the time "out of your busy day to talk with me. "By any chance, do you happen to know "of anybody else that would
be a really, really good "resource to learn from
and ask great questions?" Usually, by asking something like that they'll give you the name of someone else within the department, someone else they know at another company. You never know what happens with this, but again, you'll get a referral and you could keep the networking going. And that's the idea here. Because once you have your
initial batch of people to reach out to, you're
eventually gonna run out of alumni, so that's why
you always wanna be asking for referrals so you can
keep the process going. So, last but not least, we have step four, which is the follow up. No matter what, after
every one of your calls, you always wanna send a
brief thank you email. Again, short and sweet.

All you need to do is thank the person for taking the time out of their busy day to talk to you. Put in maybe one sentence about something personal you guys talked
about on the call, that's it. Now, you might be wondering, okay, what if I talk to this person and there's no roles available or there aren't gonna be roles
available for a couple months in terms of different jobs or internships. This is when you start
waiting a little bit and let's say in a couple months, the internships open up
or you see a full-time analyst role, that's when you
re-reach out to these people to basically tell them that, "Hey, Nick, "how's everything been? "Just wanted to let
you know that I applied "to the internship in this department, "or I applied to the full-time role "in this department. "I just wanted to reach back out "and see if you had any
tips or recommendations "to approve my chances
of getting the interview "or improve my chances of
actually landing the role." And more than likely, they'll either ask for your resume and pass it along to HR or pass it along to
someone in the department to hopefully, and most
likely, increase your chances of getting the interview.

And if you've talked to multiple people within this department,
reach out to all of them and let them know that you applied. So that way you have
multiple people on the inside that are mentioning your name or sending your resume to HR, and that should dramatically increase your chances of getting the interview. This is why networking in
finance is so effective because when you have multiple people pushing for you like that, your odds of actually getting an interview
are really, really high. And then from there, when
you're in the interview, it's really a matter of being able to show that you know your stuff. So if you found this video helpful, feel free to like or subscribe to us by clicking the links below. If you're looking for more advanced strategies like this in terms of landing roles in investment banking, networking, preparing for interviews, whatever it is, feel free to head over to our site at where we go a lot more in depth on topics like this.

Now I'll turn it over to you. Are there other things that you have more questions on, in terms of networking or any other topics that
you want us to cover? Feel free to let us know
by commenting below. (beat music).

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