For many of us, especially introverts, networking can feel impossible. The prospect of reaching out to strangers with the potential of getting rejected or ghosted can be unimaginably painful.

You might ask, “can I skip this and just do everything else?”

Well, yes and no. In some more technical roles, and if you have an earth-shattering resume (e.g., a 4.0 GPA from Stanford, Machine Learning Scientist at OpenAI), you might not need to network to get an interview. However, for most highly competitive positions, you're competing with a sea of candidates who are equally, if not more, qualified than you on paper.

Therefore, you must stand out in other ways. Networking is perhaps the best method to achieve this. In fact, the difference can be so significant that if two identical candidates enter a recruiting process—one with extensive networking and the other without—the result can be one getting almost every first-round interview while the other gets none.

Now, if you are recruiting for a highly competitive business role and does not have an earth-shattering resume (like most of us mortals) you need to do networking. And luckily, you are at the right place.

We summarized years of knowledge accumulated by everyone at the EasyOffer team into this guide to help you plan and execute the perfect networking game.

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What is Networking?

When you look up networking, you'll find various definitions because it plays a crucial role not just in job recruitment but also in long-term career development. This guide focuses specifically on networking for recruitment. However, the skills you gain here will also benefit your overall career growth.

Networking for recruitment involves building relationships to gain industry and company insights while leaving a positive impression. This can increase your chances of securing future interview opportunities.

Typically, it involves:

1. Identifying Professionals:
   Find individuals in your desired field through school or personal networks.
2. Invite for a Coffee Chat:
   Send an invitation via email or LinkedIn to schedule a brief conversation, often called a "coffee chat."
3. Coffee Chat:
   Engage in a 20–30-minute conversation about career and company insights, either at a coffee shop (if local) or via Zoom/phone call.
4. Maintain Connections:
   Follow up with emails, keeping them updated on your progress and staying engaged in the relationship.

In the following section we will break down this process further into a simple 7 step framework that you can follow.

For those of you who worked in B2B sales, this framework will look familiar since the process of networking is very similar to that of B2B sales.

We will use networking for investment banking as a sample scenario to illustrate how you can execute this 7-step framework, but keep in mind that the framework is industry agnostic, meaning you can execute the same framework to network for almost any industries.

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Build Short List

Start with your target industry (which you should know by now) and identify the companies within that industry you want to approach. You can use both a top-down and bottom-up approach to select your target companies.

The top-down approach starts with the industry and role you want. For example, if you're aiming for an entry-level analyst position in investment banking, you would search for top investment banks in your city and create a list. You can easily find rankings of investment banks based on geography and industry coverage in publications like the Wall Street Journal and from Career Guides providers like Vault.

The bottom-up approach involves going on LinkedIn or your alumni portal to find people from your school or work who are now in investment banking. Look at which firms they are working for.

It's best to use both approaches. The top-down approach gives you more intelligence on the overall industry landscape, while the bottom-up approach offers a more realistic list of options to target.

For instance, if you graduated from a top-ranked national college, you have many options. However, if you graduated from a local community college and lack relevant experience, networking for Goldman Sachs or Morgan Stanley might be a waste of time.

You should use a spreadsheet to keep track of your target companies. We recommend using Airtable as it is the most flexible spreadsheet option, but a simple Google Sheet and Microsoft Excel file should do the job.

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Identify Contacts

If you used both the top-down and bottom-up methods to build your shortlist, you should already have a list of contacts to reach out to, including alumni from your school and current/previous colleagues who are in the industry.

To complement this list, consider identifying target companies where you don’t have existing contacts. Use LinkedIn to find people in these companies with whom you share common connections. Here's how:

1. Go to the company page on LinkedIn.
2. Select the "People" tab.
3. In the "People you may know" section, identify and add relevant individuals to your contact list.
4. While adding them, you can also send a connection request.

Once you found the contacts on LinkedIn, you can find their email through either your Alumni database or approximate their work email through their company’s standard format.

Most larger companies use the format: Firstname.lastname@company.com. You can find the specific format by searching it on Google and then confirming it through an email validation service such as NeverBounce. You can also signup for databases such as Apollo, which contains contact information of most professionals in the US.

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Set Objectives

Before you go into any calls, it's essential to have a clear objective. Your objective can vary depending on the contact's background and your own experiences. Here are some common objectives for networking calls:

• Learning about their experience:
  This could involve understanding their unique journey, particularly if they transitioned from another career into investment banking. If you are considering a similar move, gaining insights from someone who has successfully navigated this path can be invaluable.
• Learning about the industry:
  You might want to get a broader understanding of the investment banking industry. This can include trends, challenges, and opportunities that professionals in the field encounter. Such knowledge can help you decide if this industry aligns with your interests and career goals.
• Learning about the company:
  If you are interested in a specific company, you might want to learn about its culture, values, and working environment. Understanding what makes the company unique can help you determine if it’s a good fit for you and can also be useful when tailoring your application or preparing for interviews.
• Learning about the lifestyle:
  Investment banking is known for its demanding lifestyle. Speaking with someone who works in the field can provide a realistic picture of what to expect in terms of work hours, stress levels, and work-life balance. This can help you prepare mentally and physically for the demands of the job.
• Learning about recruiting:
  If you are in the process of applying for jobs or internships, understanding the recruiting process can be incredibly beneficial. This includes learning about the types of interviews you might face, the skills and experiences that are valued, and any tips for standing out in the recruitment process.

Having a clear objective not only helps you get the most out of the conversation but also shows your contact that you are focused and serious about your career development. We will provide you with additional list of questions in the prepare question section.

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Create Outreach

There are two primary ways to do cold outreach for networking:

1. Email

2. LinkedIn

There are pros and cons to each option. LinkedIn generally has a higher reply rate, but people at prestigious firms often don’t accept all connection requests, so you might miss the chance for a coffee chat. Email, on the other hand, ensures your message is seen. With email, you have a higher chance of your message being delivered and the option to follow up if you don’t hear back.

Many professionals are busy, and they may not intentionally ignore your message but simply forget to reply. Consistent follow-up helps remind them of your request and demonstrates persistence, which is a valuable trait in competitive job markets.

When it comes to LinkedIn, it’s always better to utilize the foot in the door approach, which is not asking for anything during your initial connection request and only present your ask if they accepted your connection request. During the initial connection request, either say nothing or say something along the line of “My name is [Name], would love to connect with you.” Or “I’m a recent graduate from [University Name], would love to connect with you.”

Once connected, you can send them a longer message, which will be the same format as the standard cold outreach email. We created a sample email template for your reference here.

Remember, this template is just a starting point. The key is to make each email personal and genuine. Show that you've done your homework and have a real interest in connecting. This can take the form of noticing one of their recent postings, congratulating them on a recent promotion, mentioning any shared interests and common connections. Here is a sample for if you are a student reaching out to an alumni:

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Hi John,

I hope you’re doing well! As a fellow member of the Penn State Investment Club, I’ve been impressed by your journey from biology to investment banking at Morgan Stanley. Your unique perspective, especially in sustainable investing, is truly inspiring.

I’d love to grab coffee and learn more about how you transitioned from biology to finance. Your insights would be invaluable as I explore similar paths.

Are you available next week for a quick 20-minute call?

Looking forward to connecting!

Cheers,

Jackson

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Reaching out to alumni likely is the path of least resistant since they have gone through a similarly painful recruiting process. They are also more likely to give you a pass even if your outreach message is mediocre. If you don’t have the luxury of alumni connections, you should put in extra effort into drafting the personalized message.

For a more detailed approach, you can check real templates for crafting each of these types of messages effectively here.

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Prepare Questions & Ask Follow-up Permission

As we talked about earlier in the objective section, questions should be prepared based on your objectives. Here are some common questions you can ask based on specific objective.

Learning about experiences:

1. What attracted you to your specific industry group or function?

2. Can you describe your daily responsibilities and what a typical day looks like for you?

3. Which aspects of your job do you enjoy the most?

4. How did you manage your transition from X industry to X industry?

5. What has surprised you the most about your role since you started?

6. How has your experience aligned with your initial expectations regarding responsibility and learning?

7. Can you share a memorable project or deal you’ve worked on?

8. What factors led you to choose this firm over other opportunities?

9. Have you thought about your future career steps? Which paths interest you?

Learning about the industry:

10. What current trends do you see shaping the future of [Industry]?

11. How does the [Industry] business model work?

12. How has technology/AI impacted the [Industry]?

13. What challenges do you think [Industry] are currently facing?

Learning about firm:

14. How would you describe your firm’s approach to winning new clients and deals?

15. I noticed your firm has grown significantly in [geography or function]. What factors have driven that growth?

16. What distinguishes your firm from its competitors?

17. How is the firm structured, and what is the size of your team?

18. How much collaboration occurs between different groups or offices at your firm? Are resources commonly shared?

19. I've heard that your firm specializes in [function]. How does it differentiate itself in that area?

20. Your group has announced several transactions. What do you think contributes to that success?

21. With the recent hiring of senior management, how has your role been impacted, and what do you think it means for the firm’s strategy?

Learning about lifestyle:

22. How does your current lifestyle compare to previous roles?

23. Can you describe a typical workweek in your position?

24. How much autonomy do you have in your role?

25. How would you characterize the firm’s culture and team environment?

26. What activities do you and your colleagues engage in outside of work?

27. How do you manage stress and long hours in investment banking?

28. What strategies help you maintain work-life balance?

29. How do you prioritize tasks during particularly busy periods?

Learning about recruiting:

30. What is the recruiting process like at your firm, and how long does it typically take?

31. What preparation would you recommend for someone interested in your role?

32. Are there specific materials or resources you suggest for preparation?

33. Who are the key people involved in the recruitment process?

34. Would you recommend speaking with anyone else?

Closing questions:

35. Thank you for sharing your insights. Do you have any advice you’d give someone entering this field?

36. Your thoughts on [1-2 topics] were really insightful. What led you to those perspectives?

37. I really appreciate your time today. Would it be alright if I reached out with any follow-up questions?

38. Are there any resources or people you think are great for gaining further insights?

Depending on the time and format of the coffee chat, you should pick around 10 questions from the list based on your objectives. Keep in mind, don’t run through the questions like a list, it’s a conversation. You want to build rapport with the person you are coffee chatting with.

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Coffee Chat

You have prepared the past six steps for this moment and now it’s time to shine. Here are a few simple tips to remember:

• Be Punctual: Arrive early; if you're not early, you're late.
• Dress Appropriately: Aim for business casual; avoid overly casual or flashy attire.
• Build Rapport: Establish a genuine connection.
• Be Genuine and Engaging: Actively listen and show sincere interest; avoid just running through your questions.
• Take Notes: Bring a notebook if in person; avoid using a laptop while they speak.
• Respect Their Time: Adhere to the agreed time limit.

Remember, the first few coffee chats will always be a little difficult. If you want to practice, you can always ask for help from your friends. We also offer networking training at EasyOffer with top-tier mentors that have gone through the process.

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Thank You Emails

Now that you had the networking call/coffee chat, you will need to send a thank you email. It shows your appreciation for their time and insights and helps them remember your conversation, making it easier for them to recall when you reach out in the future.

Here is a template you can use.

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Hi [Name],

Thank you so much for meeting with me today. I really enjoyed our conversation and appreciated your insights on [specific topic discussed]. Your advice about [specific advice] was particularly helpful.

I look forward to staying in touch and hope to connect again soon. Please let me know if there’s ever anything I can do for you.

Thanks again!

Best,

[Your Name]

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The content of the thank you email is not as important as the initial cold outreach email, but the gesture of the email itself remains very important.

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Tracking and Maintaining Connections

Think of your network as a garden. You've planted the seeds with your coffee chat, but now it's time to water, nurture, and watch your professional relationships grow. This is where tracking and maintaining your connections becomes crucial.

As we talked about in the building short list section. You should have a spread sheet that keeps track of all the outreaches and the coffee chats. The spreadsheet should help you stay organized and informed on:

• Overall Progress: which companies you have established contacts
• Follow-up Reminder: who you need to follow-up to schedule the coffee chat
• Context Reminder: key points from each conversation to keep the context fresh
• Thank you Email: who you need to send thank-you emails
• Progress Update: who you should follow-up with updates on your progress, especially if your interview process advances

The following are some tips on maintaining connections.

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Parting Words

Networking is one of the most crucial professional skills in career development, whether you’re seeking an internship, an entry-level position, or making a career switch. After reading this guide, you should have a solid understanding of the entire networking process. As the renowned venture capitalist John Doerr once said,

“ Ideas are easy. Execution is everything.”

If you find execution challenging, consider working with one of our expert mentors who have successfully navigated the process.