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Networking: The Gateway to your Dream Job

Learn the importance of networking in any industry or career path, and how it can benefit you in becoming knowledgeable about the industry/firm, developing mentor relationships, and increasing job opportunities through employee referrals. Discover tools, such as LinkedIn and personal rolodex, and follow the networking process of prospecting, first contact, following up, and leveraging your network. Start networking early and overcome initial awkwardness to achieve success.

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Networking: The Gateway to your Dream Job

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  1. Networking: The Gateway to your Dream Job September 27th, 2017 MSU Student Investment Association

  2. Points of Emphasis • Networking can take you where ever you want to be, no matter the industry or career path. • Just as important as studying for interviews • Benefits of Networking: • Become more knowledgeable about the industry/firm • Develop relationships with people who can mentor you • Increase chances of landing a job (employee referrals) • It is never to early to start networking • It will be awkward at first, but you’ll get better MSU Student Investment Association

  3. 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

  4. I. Networking Tools MSU Student Investment Association

  5. 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 MSU Student Investment Association

  6. 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/waiting for response? • Any additional notes/personal details • Easy to create in Excel MSU Student Investment Association

  7. 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 • Triple check for grammar MSU Student Investment Association

  8. II. Networking Process MSU Student Investment Association

  9. Prospecting • Prospecting involves actively searching for, and identifying potential connections • Multiple methods: • List of Family Friends • Friends of Family Friends/Other 3rd Degree Connections (high school alumni, college professors, etc.) • Linkedin Searches • MSU Alums, Target Firms, Target Fields, Target Industries • Create dynamic searches for new people. Focus on Big 10 schools • Search for email formats for their firm to contact them Goal: Cast a wide net, find people who are good targets for initial contact MSU Student Investment Association

  10. Initial Contact • Contact generally initiated through email • Subject Line: Say what you want “MSU Student – Informational Interview” • Keep it short & to the point. Less than 5 sentences • Introduce yourself, and say what you want • Why is talking to you going to be worth their time? • Mention what time frame or specific times you are available • Be conscious of when you send emails 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

  11. Following Up if Initial Email is Unsuccessful • Important to wait 1 week before sending a follow up email • Don’t want to pester/give impression that you are annoying 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. I know this is a busy time of year, but is there a time in the next week that you are available to talk? Best regards, [First Name] MSU Student Investment Association

  12. 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. 1-2 minute story • 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

  13. Some Good Basic Questions • How did you get started in the business? • Alternatively: Tell me about your background, how did you end up in X industry or at X firm? • What is a typical day like for you? • What do you enjoy most about your job? • What can someone in my position do to prepare themselves for a career in (IB/S&T/Research)? • What advice would you offer to someone in my position? • Be conscious of phrasing questions • Don’t ask “how much do you work”, ask “have you made it back to East Lansing for a football game recently?” • Keep the conversation mostly on the professional MSU Student Investment Association

  14. Call Outline • Introduction • Introduce yourself, ask if now is still a good time • Go into your questions, but allow the contact to shape the tone of the conversation • At the end of the call, thank them for their time and ask about any further action • Next time to follow-up • Any other contacts • Interview process • Immediately after the call, write down notes in your excel sheet. You will forget otherwise MSU Student Investment Association

  15. Staying in Touch • 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

  16. 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. • 2nd contacts are more difficult • Find a reason to reach out; it must be natural. Be prepared with different questions that build off your last conversation • A great way to build a relationship is to ask if a contact is willing to critique your resume • In-person meetings help build relationships • Wait until recruiting is kicking off • Ask to get coffee • Train to Chicago is cheap, flights to NYC can be cheap MSU Student Investment Association

  17. 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 • Resume submissions to HR for internships and full time • VERY IMPORTANT from non-target schools MSU Student Investment Association

  18. Takeaways • Networking is extremely important – just as important as interview practice • Networking allows you to: • Become more knowledgeable about the industry/firm • Develop relationships with people who can mentor you • Increase chances of landing a job (employee referrals) • NEVER view networking as a transaction • 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

  19. “Opportunity does not knock, it presents itself when you beat down the door.” -Kyle Chandler MSU Student Investment Association

  20. Application • Create/Update your LinkedIn account • Create/Update your resume • Have someone critique it/look it over • Write out and practice your story/intro • In excel make a list of family friends, people your parents know etc. • Look through these people’s LinkedIn connections to see who they know as well • Start by sending emails and reaching out to family/family friends • Reach out to Alumni, 3rd degree connections and continue to expand your network MSU Student Investment Association

  21. Questions? MSU Student Investment Association

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