Networking Overview
Networking is a weird concept for most military members. Because the military has an illiquid labor market (as in you are not allowed to leave jobs freely) there is almost no need for networking. Commanders rarely have the freedom to choose their own subordinates and therefore they have no incentive to participate in networking.
However, in the civilian labor market it is absolutely critical to network. In fact, you may find that you have a hard time landing a job without networking.
Networking also feels kind of icky, transactional and shallow. The onion does a great job of making fun of networking. The image above was pulled from that article.
So why do you need to network?
Companies frequently refer on internal referrals from current employees to create short lists of interview candidates
Networking allows you to explore job opportunities and become more familiar with the work required, lifestyle, pay and culture of a firm
You are doing a favor to the person you are networking with. They often need to source jobs for their employer and want to talk with you
Networking allows people to freely exchange ideas in a low threat environment and then find a way to collaborate later on in the future
For some elite jobs in professional services like consulting or investment banking, it is almost impossible to land a job without networking. Just submitting your resume is not good enough
For the purpose of this article, we will focus on what called “informational interviews”. This is a form of networking where you take someone who is in a job out for coffee and you chat with them about their role. This accomplishes two things.
It gives you an insight into the role
It allows the employee to get to know you and hopefully refer you for a formal interview
There is no precise formula for effective networking. Rely on your own personal strengths and experience, and put yourself in the shoes of your potential employer. If you were hiring an MBA, what would impress you, and what would you want to see in a candidate? Many of these qualities are universal. You would want to see someone genuinely interested in your company and your job, someone who is polite, competent and willing to work hard, can carry a conversation, and who would be enjoyable to work with on a daily basis.
Nobody will know who you are, and worse- how badly you want a job, unless you take the time and effort to put yourself out there. Although networking is awkward at first, that is no excuse. Everybody to whom you'll be reaching out has been in your shoes at some point. You're not expected to be perfect, but what separates you from the next person is your willingness to put yourself out there and take ownership of your future.
Advice on Recruiting to Jobs in General
Be comfortable and easy to talk to in a one-on-one situation. The interview is also about the interviewer determining if he/she wants to work with you, thinks that you are eager to learn, and thinks that you are a hard worker.
Review every email thoroughly. Do not send an email to any recruiter, interviewer or alum that contains spelling errors, grammatical errors, etc.
Be respectful and do not blow anyone off in the course of recruiting
Informational Interviews
A great way to network and learn more about a company is by conducting an informational interview. Reach out to alumni at prospective employers asking for 25-30 minutes of their time to talk about their background, job, industry, and different types of roles available at their company. Also, don' t hesitate to reach out to second years who can offer relevant perspectives and advice about the internship search. They are a huge asset, as they were in your very shoes only a year ago.
This is an INTERVIEW! It even has interview in the name- treat it as one. The best way to guarantee you won' t be selected for a first-round interview is to show up unprepared for an informational. Similarly, you may find it difficult to land many first-round interviews without conducting informational interviews beforehand. So, if you know you're interested in a company early in the recruiting process, make it a priority to speak with someone at the firm and to arrange an informational interview.
Informational interviews are different from formal interviews in that you get a chance to conduct some of the interviewing yourself. They are an excellent opportunity for you to learn about your firms of interest and get an inside look into them, of which you should take full advantage. However, they are also a chance for these firms to get the inside scoop on you and decide if they want to bring you in for the formal interviewing process, so take them seriously. Prepare for them as you would any first-round interview.
Upon completing an informational interview, always send a follow-up email thanking the person you spoke with for their time. This is mandatory, and it is considered rude if you fail to send a thank you email after any type of interview-informational or formal. Make sure you've set up a professional email signature and that you have disabled the "sent from iPhone" feature if using a mobile device.
For an informational interview, knowing about the company you are going to see is important-technical content is practically irrelevant. Make sure that you are well-versed in current news regarding both the company and the markets in general to have a brief chat with your contact. Make sure your attire is appropriate for the position; however, a good fallback is business formal attire-suit and tie for men, business suit for women.
Anyone who spells the firm's name incorrectly, my name incorrectly, or is too casual in their greeting or writing will get deleted. The introductory email is your first impression and you need to put your best foot forward, so make sure that the writing is crisp, to the point, and reasonably formal. You will be able to gauge if the contact prefers more casual contact after they respond, but until then, keep things formal.
Quickly reading through the company website (particularly corporate overviews and divisions) will prepare you well on the company information front. Also, when discussing specific groups, industries or products, make sure to do a little digging into past company clients, big players in the industry and any recent trends.
An informational interview should be with someone in the field that you intend to pursue. So you should know if you want to be an investment banker, a research analyst or a trader going into the interview. Make sure that you have a working knowledge of the daily responsibilities of the position you are interviewing for.
The candidate must be prepared, poised, and most of al1, pleasant and engaging. Your contact may wind up working directly with you-if he/she does not think that you would make a good co-worker during long hours, they may not care how much accounting you know. Remember: the purpose of an informational interview is to get a sense for who the candidate is, not determine the depth of their financial knowledge
The Conversation
Some things you might want to tell them about yourself
Prior to business school I worked as . . .
I came to business school because I want to . . .
I am concentrating in ...
My key interests are/I will be looking for a job that will utilize my strengths in . . .
Sample questions to ask
About the person…
What was your background prior to business school?
What were your concentrations in business school?
Have you always worked in this field, or was it a career change for you?
If your job progresses as you hope, what will be the next step in your career
About the job
Since I have not yet worked in xxx I want to make sure the job is what I think it is. Can you describe a typical day to me? Do you handle different tasks at different times of the year?
What kinds of characteristics and skills do you think are necessary or beneficial for this type of work? What kind of person would really enjoy this position?
What is a typical career progression for someone in such a role?
Are there particular classes or subjects that you would recommend I take, knowing of my intere st in this job? Things that, in retrospect, you wish you had studied? Resources at the university that you feel I should take advantage of during my time there?
I know I eventually want to be a xxx Are there other likely job routes to achieving this?
Are there any aspects of the job that you wish you had known about beforehand or that surprised you?
To your knowledge, how might this job vary by company (within the industry)?
What do you like most (least) about your work?
What are the challenges in balancing work and personal life?
What questions would you advise me to ask if interviewed for such a position (e.g., what would you want to ask if interviewing for such a position)?
About the industry
I want to develop my knowledge about this industry. Are there particular periodicals or trade journals you would recommend? Any specific professional organizations you would suggest I join?
How is the economy affecting this industry?
About the company . . .
How would you describe the company culture (centralized/ decentralized; hierarchical/flat structure; values of the organization; matrix teams; etc.)?
What made you choose to work at firm ABC over other companies? Are there any things you wish you could change about the company?
Finishing The Conversation
Based upon what I have told you about myself, how might hiring managers perceive my candidacy for a job in this area?
Would it be too much of an imposition to ask for your comments and any constructive criticism on the resume I am using for these types of jobs? [If you have not already shown them or sent them your resume]
Now that you know a little bit about me and my interests, can you think of any other people in your organization or other alumni that you would suggest I contact? When I contact them, may I use your name?
Do's and Don'ts
Do not ask for a job, just information and advice. Asking for a job, or sounding like you are, will put them on the defensive.
Do not expect the person you are contacting to do your "homework" for you. Do not ask them to look up email addresses for you, get you information for an interview that you have the following day, etc.
When networking with recruiters at corporate presentations, do not ask if they hire international students. That information should be publicly available, and they may feel defensive if they do not hire international students. Besides, the COC recommends that if you are interested in a job, go ahead and apply. Some companies publish blanket statements that they do not recruit international students while they will, indeed, hire those that truly interest them.
Do research on the job/field/company prior to contacting them so you can hold an intelligent conversation. Show them that you are contacting them specifically based upon some criteria and that you have a true interest in their job/field/company. This will make your contact more interested in maintaining a relationship with you.
Do keep good notes on your contacts, their advice for you, and the circumstances of your meeting/ conversation.
Do say thank you, and send follow-ups to your contacts. Do not forget to let them know about your progress! Do keep networking even after you have found a job.