#HowTo: Network for Investment Banking
Why networking is important for investment bankers:
Networking is not used nearly as much as it should be when it comes to applying to investment banks. Having a personal referral to pass your resume along to a manager or put in a good word for you will significantly increase your chances of landing that dream job. In a lot of cases, it is found that having the right connections matters more than credentials and genuine academic achievements.
Tips on Networking
1. Register to and attend as many networking events as possible!
These events do two things:
- Provide you with information about different firms and helps you decide which firms you’d like to work for the most.
- Allows you to build a meaningful connection with company representatives and senior employees.
2. Investment banking is a cut-throat industry
you compete against candidates from top schools, with previous internships, society experiences and high grades. Therefore, when you’re building an image of yourself in a company representative’s mind, it is important to stand out but also avoid asking silly questions. With so many students applying, investment banks have to be picky and asking “What exactly is investment banking?” shows recruiters you have not done the research and are not prepared to take on their internship or graduate programs.
3. Prioritise speaking to Bank Representatives over HR
Getting to know them, their experiences with the company and their perspective of the company is crucial because you can harness this information and apply it in your cover letters.
4. If the conversation goes well, add them on LinkedIn
As it can be a useful communication avenue later on if you have any outstanding questions before applications are due.
5. Questions to ask representatives:
- What skill set are you looking for in XYZ service area?
- What do your day-to-day responsibilities entail?
- What is the most interesting project you’ve worked on in the last 6 months?
6. Questions not to ask:
- What does your firm do?
- How much do you earn / What is the pay like?
- Questions related to negative company coverage, e.g. UBS losing senior bankers, market write-downs, lawsuits, etc.
7. By the end of the event, your goal is to have an answer to “What makes the firm different to other banks?”
This is the essential range of information you are looking for from each conversation because it will drive your cover letter and be very helpful when answering the “Why us?” question in interviews.
Some events we recommend you attend
- Careers Fair held by your school or Business Societies in your school
- Sydney 2021 Venture Capital World Summit
- Singapore 2021 VentureCapitalWorldSummit
- Bloomberg Academy — Sydney 2021
- FMAA Down to Business Luncheon
- Citi Australia Information Session
