What Does it Mean to 'Network'?
So you've heard people talk about 'networking' and how it's important in finance, especially when it comes to competitive industries such as Investment banking. Everyone talks about it, but what does it even mean? To network in finance is to reach out to, to contact, and to connect with professionals in order to fosterful relationships and gain valuable insight. In many cases, if you are someone trying to break into an industry, these relationships are what help you land interviews and job offers; if you are a working professional, these relationships with colleagues and clients are what help you stand out among your peers and take your career to the next level.
Why is Networking Important?
So why is it important to network? As mentioned, for aspiring analysts in the competitive financial services industry, the relationships you form with professionals who already in the field help you stand out as a candidate and can lead to interviews and potentially job offers. Yes, landing a great job should be all about what you know and your capacity to learn what you don't and less about who you know, networking is never a bad idea! The benefits of networking don't stop once you land the job, though. Networking not only helps you develop and improve your skillset but it also helps you advance your career while opening doors to new opportunities. Exchanging information, advice, and sharing goals allows you to gain new insights that you otherwise may not have thought of. Discussing common challenges and opportunities opens the door to valuable suggestions and guidance. Whether online or face to face, it can pay real long-term dividends to foster and maintain relationships with trusted connections whom you can rely on for help and advice. Yes, the idea of reaching out to strangers requesting their time and attention can feel a bit uncomfortable but remember, by continually putting yourself out there and meeting new people, you are building invaluable social skills and self-confidence that you can take with you everywhere.
How to Network
There are many ways to go about networking, from cold emailing, to attending networking events, to coffee chats. Click below to learn our tips on how to leverage the three most common networking strategies: