I need some ideas for networking and reaching out to new people to hopefully make more contacts which will help me land a better job later on.
What I’ve tried so far:
Reaching out to immediate family and friends. Sadly, very few of them work in Finance.
Reaching out to Alumni on LinkedIn.
Please keep in mind that I work in a very small company so networking opportunities from within are limited. I also have very limited free time outside of work and I don’t wish to spend it going golfing, hanging out at bars (where such people hang out), or pursuing a hobby just for the sake of job networking. At least I won’t devote a large chunk of my very limited free time on a regular basis in such activities.
One thing I haven’t done yet but heard a lot about the benefits of are Informational Interviews (cold calling those in #2 or friends of friends/family who are in Finance.) It seems to be a much better use of my time as I can schedule several of these every evening on the phone, provided I have enough contacts.
Another possible idea would be to join a CFA study group to hopefully meet others in the industry.
Those sound like great ideaa. I agree it’s not worth it to take up a hobby just for the sake of networking, most people will see through that anyway. I would also look up the local CFA society, it’s a great way to network. Most people at those events have gone or are going through the exam process.
Definetly local CFA society… but that doesnt really get you anywhere… Best way i found was to just knock on random doors asking to talk to recruitment management… they usually end up in two scenarios: 1) someone office guy tells me that the recruitment manager is busy or not available. I then proceed to ask for his email… normally they go back to the office and come back with the email… I thank them and MOST IMPORTANTLY ask for their names. when i go home… I send an email to the recruiter with a “dear (recruiters name), i got your email upon my visit to your office from (guy who gave me the email)…” . works really well. Most of the recruiters respond that their are no current spots, but will keep my email for future reference.
you get to talk to recruitment manager… in which case, what ever happens, he saw your face and see’s your active. I normally feel in control in such situations and can recieve immedite feedback for not only what to improve, but what my assets are. they give recommendations and people to talk to, companies to go to! then you can go to those companies and refer that recruiter (job market is all about referals)! I call this way gardening cause i kind of plant my “CV” at different firms and hope it grows… but this works best with smaller funds and firms… bigger firms are just too big like accenture, PWC etc… Also, when you send applications… if you dont hear a response then call them… I called one place to find out what happened to my position ( didnt hear anything for 3 month on a internship position)… i got directed to the finance department and some guy told me that bascially their HR system is screwed up and to send him my CV for future references… This was back in april and a few days ago, i got a call from him telling me that his wife works at another firm and to apply… sent an application to his wife basically telling her that her husband refered me (awesome no? )…have an interview on july 3rd for full time financial analyst position at a big multinational firm… Getting a job/Networking is just like the lottery… you can only win the jackpot if you participate and buy a ticket… the more tickets you buy, the higher chance of winning! What i love about finding a job is that it rewards creativity… im thinking sending 50 firms my CV through post and hand writing my cover letters… why the hell not?
Antticfa has some pretty good ideas. It’s all about standing out. As a recent grad with no experience here is what I have done. Obviously emailed cover letters and resumes. The other thing I did, like you, was go through my parents’ contacts to see who they knew. Then I began cold calling people for coffee meetings. So far, I am trying to grow my linked in numbers, I have done 3 cold calls and 3 meetings.
It works pretty well and people will most likely say yes to you even if for just 20 because everyone loves talking about themselves. The worst thing that can happen is they say no. I will continue to do this and I just attended a Toronto CFA meeting where I learend about recruiters (lol) and what Antticfa said makes sense, I think I will give it a try myself.
If you want, add me on linkedin. Then you’ll know someone in Toronto, haha
Now I’m confused. So if your statement is true, then we’re probably better off applying on the online job boards? Or stalking hiring managers?
The vast majority of positions (~80%) are attained through networking… and not many people I know in real life know so many hiring managers, VPs, MDs, etc. Something doesn’t add up…
dvitcr is being a little pessimistic. It is true that if you know a hiring manager your chances go up significantly. However, even if you don’t, or if you know just someone at the company you want to work for, their ‘good word’ that they put in for you will go a hell of a distance. Inside hiring is big thing. A guy at Scotiabank tells me they have inside posting that the general public doesn’t get to see and that the people they want for those positions are the people recommended by their employees.
Networking isn’t some sort of idealistic thing somebody made up once. It’s a serious tool for job and hunting, and later, growing your clientele. The more people you know, the better.