The purpose of networking
Networking is a research process that helps the candidate understand teams, test assumptions, and make better applications. A referral can result, but treating every conversation as a hidden referral request produces shallow relationships and poor information.
Who to contact
Useful contacts include alumni, people with similar academic or professional paths, employees in a target office or group, speakers at firm events, and professionals whose work answers a specific question. Seniority matters less than relevance and willingness to speak honestly.
The outreach note
A concise note contains the connection, reason for contacting the person, and a small request for time. It doesn't contain the candidate’s entire biography. The specificity should make clear why this person was chosen.
The conversation
Ask about actual work, staffing, training, responsibility, group changes, and what candidates misunderstand. Avoid questions answered directly on the careers page. Listen for differences between the formal program and the team’s current experience.
Follow-up
Send a short thank-you referencing one useful point. Follow up when there is a real development such as an application, interview, project, or result. Repeated generic messages create noise.
Events and programs
Firm events, insight programs, conferences, school sessions, and virtual panels are legitimate access points. Record the date, eligibility, and next step. Events are most useful when the candidate prepares questions and follows up with relevant people.
Nontraditional candidates
Candidates without a dense alumni network can build one through professional associations, local finance groups, public projects, industry events, and adjacent roles. The goal is to create repeated evidence of interest and ability, not to ask strangers for exceptions.
Boundaries
Don't request confidential interview questions, transaction details, or client information. Respect the contact’s time and response. Networking should improve information quality, not pressure someone into advocacy.
A practical relationship system
Maintain a simple contact record with name, firm, office, group, connection, date contacted, main insight, promised follow-up, and next appropriate touchpoint. This prevents accidental repetition and makes follow-up substantive. The record is for personal organization, not for distributing private comments.
A useful twenty-minute call
The first minutes establish background and purpose. The middle of the call focuses on the person’s work, group, and path. The final minutes clarify one or two questions about the candidate’s next action. A good conversation usually produces a clearer view of the role, not a generic statement that the firm has “great culture.”
Referrals and advocacy
Someone is more likely to advocate after observing preparation, judgment, and follow-through. Don't force the referral question. If the contact offers to help, provide the exact role, deadline, resume, and a concise reason for fit. Never represent a casual conversation as a formal endorsement.