The Keys to Networking for Finance Students

Episode 6 | November 25, 2024

In Episode 6 of The Coffee Chat Podcast, host Ben is joined by Jackson, a finance student at American University, to explore one of the most crucial aspects of breaking into investment banking: networking. With recruiting cycles accelerating and competition intensifying, knowing how to connect meaningfully with professionals can set students apart.

Actions Speak Louder Than Words

At the heart of the discussion was the importance of showing genuine interest through action. As Ben explained, “The way to convey your interest is not to say that you’re interested but to show that you’re interested.” Researching deals, understanding industry trends, and asking insightful questions not only prove motivation but also demonstrate readiness for the demands of investment banking.

For example, Ben shared a story from his own career. He described how an insightful student could impress him by asking about the unique revenue profiles of restaurant IPOs, a question that would require industry-specific knowledge and preparation. “When you ask that one question, you didn’t have to tell me you were interested; I knew that you were interested,” Ben emphasized.

Avoiding Generic Questions

Jackson raised a common concern: how to ask questions that feel authentic rather than transactional. He recalled an information session where one student repeatedly asked about hobbies, leaving the impression of insincerity. Ben’s advice? Keep generic questions to about 20% of the conversation. “Be specific more than generic,” he noted. “Every statement you make, every question you ask—be specific.”

A practical framework for students is to start with a statement and then follow it with a question. For example: “I saw this deal priced at a 15x multiple, which seemed high. What do you think about that?” This approach shows preparation while opening the door to deeper dialogue.

Expanding Your Network Beyond Alumni

Another key takeaway was that students rarely “run out” of networking opportunities. Beyond alumni, Ben suggested reaching out to adjacent professionals, such as lawyers, consultants, CFOs, and others connected to M&A activity. “It’s not about who you know; it’s about who they know,” Ben explained. By pursuing third-order connections, students can uncover a much wider web of opportunities.

The Art of the Follow-Up

A strong networking call doesn’t end when you hang up. Ben stressed the importance of sending a thank-you email within an hour of the conversation. Sharing relevant resources, research reports, or industry updates can go even further in cementing a professional impression. “Help them help you,” Ben advised. By making it easy for bankers to forward introductions or stay engaged, students prove they would be proactive colleagues.

While most networking calls are “one-and-done,” the relationship doesn’t have to end there. Strategic updates, such as sharing internship offers or industry insights, help keep connections alive without being transactional. If a second call does occur, it should be prompted by a specific need, such as preparing for an upcoming interview.

Building Confidence Through Practice

For Jackson, networking was both a skill to master and a source of early career clarity. By practicing with friends, family, and alumni (even those outside of finance), students can build the confidence to navigate higher-stakes conversations. “Especially when you’re just getting started, you want low-risk, warm, and friendly conversations,” Ben encouraged.

Key Takeaway

Networking isn’t about favors; it’s about showing preparedness, listening actively, and following up diligently. As Ben summarized, “Networking is actually a mini audition for the job.” For finance students like Jackson, mastering this audition is the first step toward turning ambition into opportunity.

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