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Discover the key networking tools and processes to advance your career. Learn how to effectively use LinkedIn, build your personal Rolodex, and initiate contacts through email and phone calls. Find out essential tips for staying in touch, leveraging your network, and maximizing your connections. Elevate your networking skills today!
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Networking: The Gateway to your Dream Job Sean Baddeley – sean.baddeley@gmail.com October 17th, 2012 MSU Student Investment Association
Outline I. Networking Tools • LinkedIn • Personal Rolodex • Email II. Networking Process • Prospecting • First contact • Following up if unsuccessful • Second Contact: The Phone Call • Good basic questions • Staying in touch • Leveraging your network • Takeaways MSU Student Investment Association
I. Networking Tools MSU Student Investment Association
LinkedIn • LinkedIn is a social network for professionals • Way of connecting with colleagues, customers, potential employers, etc. • Great way to maintain and expand your network • Accounts are free to sign up for and use • www.linkedin.com • My LinkedIn page MSU Student Investment Association
Personal Rolodex • Personal Rolodex: a list of business and professional contacts that you have • Information that is included: • Name of contact • Line of work/position • Firm they work for • Email Address • Phone Number • Date last contacted • Any additional notes – Personal details / preferences / common interests • Easy to create in Excel – SIA Template available on website MSU Student Investment Association
Email • Email is the primary method of first contact in networking • Emails that are both well written and concise are most effective • Important to be aware of any possible negative interpretations of your email’s content MSU Student Investment Association
II. Networking Process MSU Student Investment Association
Prospecting • Prospecting involves actively searching for, and identifying potential connections • Multiple methods: • Linkedin Searches • MSU Alums, Target Firms, Target Fields, Target Industries • Equity Research Reports – Great if you are in Analyst Program • Investor Relations Pages: Diana Shipping Inc. Investor Relations Goal: Cast a wide net, find people who are good targets for initial contact MSU Student Investment Association
Initial Contact • Contact generally initiated through email • Keep it short & to the point • Introduce yourself • Why is talking to you going to be worth their time? • Mention specific reason you are interested in connecting Mr./Ms. ________ , My name is [Full Name], and I am a junior finance major at Michigan State University. I am interested in sales and trading and would appreciate the opportunity to learn more about your work on the investment grade debt desk at JP Morgan. Is there a time in the next week that you would be available to talk over the phone? My schedule is fairly flexible, and evenings or weekends generally work for me. Best regards, [First Name] Goal: Get to a phone call MSU Student Investment Association
Following Up if Initial Email is Unsuccessful • Important to wait at least 5 days before sending a follow up email • Don’t want to pester/give impression that you are annoying • Send in same email thread as original to provide context Mr./Ms.________ , I wanted to circle back in case you missed my initial note. I am still very interested in learning about your work as well as the culture at JP Morgan. Is there a time in the next week that you are available to talk? Best regards, [First Name] MSU Student Investment Association
The Phone Call • The initial phone call is a very important part of building a strong networking relationship • Be prepared to: • Give background on yourself and your experiences/interests • Make a strong impression by asking good questions • Provide them with a resume if they ask for one • Be sure to thank them for their time MSU Student Investment Association
Some Good Basic Questions • How did you get started in the business? • Alternatively: Tell me about your background, how did you end up in (IB/S&T/Research)? • What is a typical day like for you? • What is your work life balance like? • What do you enjoy most about your job? • What is the culture like at your firm? • What can someone in my position do to prepare themselves for a career in (IB/S&T/Research)? MSU Student Investment Association
Staying in Touch • It is a good practice to follow up with a brief thank you email after a first phone call • Shows your appreciation, helps establish a more meaningful connection • Opens door for continued communication Mr./Ms. ________ ,Thank you for taking the time to talk with me this past Friday. I appreciate your insight on the direction of the S&T industry as well as your role on the investment grade debt desk. I will be sure to keep you updated on my progress this year, and look forward to staying in touch.Best regards, [First Name] MSU Student Investment Association
Staying in Touch Continued • It’s a good idea to reach out to each of your contacts at minimum, once every three months. • Some contacts should be contacted more often, especially strong mentor like contacts. • A great way to build a relationship is to ask if a contact is willing to critique your resume. • Common interests outside of finance are a great way to foster additional conversation. • Additional information section of resume MSU Student Investment Association
Leveraging Your Network • In order to leverage your network, you must first build strong relationships with the people in your network • Once you have a good relationship, most people are willing to open their network to you and help connect you with additional people • Linkedin 2nd Connections • Resume submissions to HR for internships and full time • VERY IMPORTANT from non-target schools MSU Student Investment Association
Takeaways • Networking is extremely important to landing top-tier jobs in the financial services industry. • Networking allows you to: • Become more knowledgeable about the industry • Develop relationships with people who can mentor you, and maybe even help you land your dream job. • In networking, you get out of it what you put into it. The harder you work, the better your results. • It’s never too early to start networking. MSU Student Investment Association
Questions? MSU Student Investment Association