UK
OUT OF LEHMAN: Snooze you lose, schmooze you win
18 November 2008
Networking – the very mention of this word is enough to make most people shudder. The first few months in business school taught us that having a stunning CV or a stint in Iraq just wasn’t good enough to get you shortlisted for banking interviews. We were taught the nuances of networking – start with an icebreaker (complaining about London weather – check), have an interesting story about yourself (self-deprecating humour – double check), and show enthusiasm even if you know you are going to receive a healthy measure of repetitive BS. And finally, even if the MD ends his presentation by saying, ‘There is no such thing as a stupid question’, don’t bite it.
When I stepped into Lehman as a full-time associate, I thought I was done with networking. Little did I know that I would have to endure another full month of schmoozing! As generalist associates we had to fight and find our way to a desk. Some desks were more popular than others and competition was intense. We worked on our elevator speeches, mingled with the recruiting desks over multiple cocktail sessions, mock-interviewed each other, and underwent a formal speed-dating session. I met more people at Lehman in the two-hour speed dating session than I ever did over 10 weeks of my summer internship.
Without doubt, the recruitment season in business school and the one month of networking at Lehman were the most stressful experiences of my life. But it turned out to be a blessing in disguise. I was on the top of my game when I was laid off by Lehman. I could interview any time, impress anyone with my charming stories, and needed less than three floors in an elevator journey to secure an interview call. Given my peculiar profile (euphemistic reference to lack of relevant experience), networking stood by me when headhunters failed to help.
On the morning of 15 September I sent out an SOS message to my closest friends. Without blinking twice, I shamelessly sent out my CV to everyone in my contact book. I dug through the alumni network at business school, sought help from my professors and career services team, updated my profile on LinkedIn, wrote to my ex-colleagues, called my mentors at Lehman, and met bankers with whom I interviewed on campus – I basically didn’t leave any stone unturned.
In some ways, the high-profile bankruptcy worked to my advantage. Maybe if I had worked in a boutique investment bank that went belly up, nobody would have even noticed. The extensive media coverage helped to carry my message across.
Did it work? Eventually yes, but I spent close to a month biting my nails off wondering when and from where my next break would come. It finally appeared through a classmate of mine.
Very soon, I will be taking up a contract position in a capital markets middle-office desk. Certainly not my dream job, but it will help me keep my foot in the door, and give me the time and cash flows to keep looking for one. I will live to fight another day.
MO baller......you spit it like you got game, but you aint got none.
Sit down fool!
MO Shot Caller 20 Nov 2008
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