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Keys to effective networking?

Let me start with my interesting story first: I graduated 2 years ago and joined as gradate analyst in a middle office of a BB. Through friends, I knew two alumni working in IBD, a girl from a BB and a guy in a boutique. They were only 2 years older than me so we got along quite well. I went to concerts with the girl, I played tennis with the guy, and they introduced me to their friends. Last year I heard from the guy that a senior IBD analyst he knew in another BB was looking for a junior analyst. I asked him if he could help to refer me to the senior analyst. He said no problem. At the meanwhile, I turned to the girl for interview tips. Although she seemed always pound of her job, she suddenly suggested front office was bad, I should stay in middle office and she didn't give any interview tips. Two days later I called the guy. He said the analyst wanted someone more experienced so there was no chance for me. I am a persistent person. I got the senior analyst's contact at last through my own company and emailed him my resume directly. Surprisingly he thought I was good and so did his boss, and then I got the offer! The analyst told me he asked my alumni if there was any young and potential candidate he would refer, but he said NONE. I understand it's indeed not my alumni's duty to help me. I don't complain. To some extent, I should be grateful after all I knew the opportunity from him. But, I am still confused , especially when I see articles teaching people to find jobs through networking. All these articles keep repeating the importance of networking but few says where to start, who to know, and how to keep it. Networking is not enough. People know you but they may not want to get you anywhere further. Today I am still inexperienced and premature. I am still wondering what are the keys to effective networking…

Asked by dannyonefc

Posted in Interviews and Investment Banking / M & A

15 Oct 2008

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Answers (7)

  • it jealousy.......

    johnny 16 Oct 2008

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  • Danny - Glad things had worked out for you. Rules of networking are not written in stone. Networking in today’s world mean you must know how to play the game. Nothing is free and no one will help you unless they get something in return. We live in a ruthless society and sadly people are quite heartless and cold. BUT there are few genuine people out there…on yes, don’t count on Barclays Capital or Citigroup’s team!

    not an networking star!! 16 Oct 2008

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  • Know more recruiters !! Stay in touch with more recruiters. Encourage more recruiters to call you. Call back recruiters and find out what's happening. Know HR contacts at institutions. These people have tangible incentives to inform you of roles. That alum help you out just because you went to the same school is sheer bull. You need to have skills and the right profile as well. Know obsolete words. Certain words are obsolete today - investment bank, front office etc.

    Dude 16 Oct 2008

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  • Congrat's on getting the job. Remember, most IB types are self-centred and politically motivated much more so than in any other industry. Personal motives and self promotion are typical attributes displayed. Do not be dismayed. Try delevop some more senior relationships if you can.

    Guy 16 Oct 2008

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  • This is about the most insightul thing I've seen on EFC. I agree networking is not enough, and you do have to work your way around blockages, which you seem to have done with some skill. As a headhunter I recognise the quality of what you have achieved. We can speculate on the motives of your fellow alumni, but to an extent I think one lesson to learn from this is that a link in a network is not reliable. So although alumni links are about the best, they are rarely large enough in number to get past normal human randomness. I'm not so cynical as some who believe that you won't get help, unless you help them first, but it is true that a good habit to get into is passing on that sort of lead. The word you need here in your mental model is "transitive". To be seen as someone "useful to know", you ask a mutual friend "do you think X would be up for this job ?" First that helps you decide if it is worth passing on, but you increase the number of people who know you have done it.

    DominiConnor 16 Oct 2008

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  • it seems "not an networking star" had some unpleasant experience with Barclays and Citi. LOL, so did i!

    not another networking star 17 Oct 2008

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  • Two of a trade never agree, which is a common rule. Maybe your alumni do like you, but when it comes to work you are a competitor. IB types are realistic, which is required by their job. The eternal question is not only about business networking. Hypocritical people are everywhere. It's about human nature. You are in IB now. maybe one day you'll become someone like your alumni. who knows? Be realistic and transitive as DominiConnor suggested, but be a genuine person with a true heart. Not sure if this could be achieved. I am trying.

    daniel 17 Oct 2008

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