Network to Get a Banking Job

Effective networking is all about connecting and communicating with the right people. If you’re looking to break into the banking industry, you can utilize both new and old contacts to help you land a job. You will need to present yourself as a capable and professional individual. Put yourself in situations where you can meet as many people as possible, and use these new connections to establish a wide network for yourself. When you do apply for the job, you can ask your network for advice and references.

Steps

Marketing Yourself

1. Narrow your focus. Concentrate on the specific field that you want a job in. If you want a job as a loan officer, for example, find loan officers, mortgage brokers, or other related bankers for advice. Decide if you want to work in a retail branch or in the corporate banking sector, and direct your networking efforts accordingly. Some types of banking you might consider are:
   • Investment banking
   • Sales and trading
   • Management consulting
   • Private equity
   • Hedge fund management
   • Loan officer
   • Personal banking
2. Prepare a resume. You should have your resume handy when you are in situations where you will be meeting people. A strong resume will list your contact information, relevant experience, and a list of referees. Carry these in a binder or folder; do not fold them to keep in your pocket or purse. This will keep your resume smooth and unwrinkled for when you hand it to potential contacts.
   • Good places to bring a resume are job fairs, information sessions, banks, and professional events such as banking conferences or seminars.
   • If you know you are going to meet someone in the industry, you might want to carry a resume with you. Ask them if you can ask them questions regarding their career. At the end, ask, "do you mind if I give you my resume?"
3. Present yourself professionally. What you wear when meeting people is important. Always look polished and professional when you're networking for a banking job. Dressing for the job you want will show that you are serious and dedicated to your career.
   • Women should wear blazers, button-down shirts, conservative blouses, and well-tailored trousers and skirts. Heels should be no more than three inches high.
   • Men should wear suits, ties, dress shirts, and formal shoes such as oxfords.
4. Remain professional on your social media page. Remember that potential employers may check your social media page before they hire you. Make sure you only post things that you would want your boss to see. Do not complain about your current job, use explicit language, or demonstrate other unprofessional behavior.
   • Even if you do not allow non-friends to see your profile, employers may still see your profile picture. Dress conservatively, as though you were going to a company picnic or professional event.
   • You may want to go back through your posting history to delete anything that might reflect poorly on you. While you may have posted it years ago, employers may still judge you for it.
   • Pictures of your family and positive comments about your day are good things to post. Avoid posting articles or videos that are political or contain obscene language.

Meeting People

1. Visit job fairs. Banks will send their recruiters to meet with potential employees at job fairs. Attend local job fairs to consult with recruiters in your area. Approach these tables, and introduce yourself. Hand the recruiter a copy of your resume, and ask any questions you might have about getting the job.
   • A good introduction is brief. It states your name and your interest in the job. For example, “Hello, I’m John Smith. I’m interested in applying to your bank, and I was wondering if you could give me more information.” Be sure to hold out your hand for a firm shake.
   • If you are attending university, you may have information sessions hosted by recruiters on campus. Take advantage of these, as it means that recruiters are actively seeking out students from your university.
2. Reach out to alumni. If you are in university, you will likely have access to a wide alumni network through Career Services. Make an appointment with a career counselor. They can search the alumni network for potential contacts. Once they have identified people in the industry, you should send an email to introduce yourself. Your email should be short. It should introduce you, provide a brief survey of your experience, and ask the alumni to meet.
   • For example, you can write, “Dear Mr. Jones, My name is Laura Green, and I am a senior at university. I received your information from Career Services. I am very interested in a career in finance, and I would love to be able to speak to you sometime about this career path. Please let me know if you would be willing to meet or talk on the phone. Thank you very much for your time. Best regards, Laura Green.”
   • Be sure to attach a resume to any email you send potential contacts.
3. Introduce yourself at a branch. Identify banks in your area that you might want to apply to. Visit these banks in person to inquire about job openings. Ask to speak to the branch manager, if you can. They may be willing to sit down with you and talk about the application process. Some good questions you can ask the manager include:
   • “What types of experience or skills do you look for in an employee?”
   • “What is the application process like?”
   • “Are you currently hiring?”
   • “What are the options for advancement in this career?”
4. Join professional organizations. There are dozens of professional organizations covering every aspect and specialization of the banking industry. Joining one or a few of these organizations will allow you to network with other members while exposing you to job openings and opportunities. Organizations like Rotary Clubs or Lion's Club chapters also often include business professionals as members, making them good networking opportunities. Many of these associations have websites where you meet people digitally. Some good professional organizations for bankers include:
   • Association of Financial Professionals
   • American Bankers Association
   • National Bankers Association
   • Mortgage Bankers Association
5. Add people on social media. You may meet people at these events whom you want to stay in touch with. You might add them to your social media pages such as Facebook, Google Plus, or Twitter. This helps you build a relationship with them, and it keeps them in touch with you.
   • You might meet people online on job search websites or through banking association forums. Be careful, though, about friending people whom you have not met in real life.
   • Do not friend strangers. They may not accept your friend request, and even if they do, they might not realize it's for networking purposes.
   • You might want to post updates on your job search to help keep people in your professional network up to date about your career. Keep these messages positive. For example, instead of posting, "ugh, got rejected again," you should post, "I'm still on the lookout for that dream banking job! I've got a good feeling about this one."

Building a Network

1. Make a list of everyone in your network. You may already have a large network without realizing it. Make a list of all your family members, friends, acquaintances, professors, and other people you know. Write down what their careers are. Contact people in your personal network who are already involved in jobs in finance. Even if they are not doing the exact job of your dreams, they might be able to connect you with someone who is.
   • Write your contacts a personal email that says something like, “Dear Davis, I hope you are doing well. I wanted to contact you because I am looking for a job in banking, and I know you work as a loan officer. I was wondering if there was any advice you could give me about the process. Any contacts you could put me in touch with would also be greatly appreciated. Thank you!”
2. Collect business cards from everyone you meet. When you are meeting someone who may prove to be a valuable contact, ask them for their business card. Keep these cards safely in your wallet or purse until you are able to contact them. As soon as you are home, put their email into your contacts list. Store all of your business cards somewhere safe where you can find their information when you need it.
3. Create a profile on professional websites. Network online by creating profiles on professional networking websites. Banking employers will check these sites when an opening is available. Be sure to list the banking industry as your primary area of interest. Include an updated resume and current contact information on your profile.
   • LinkedIn is a popular site to network with potential employers in the industry. Send friend and contact requests to people you know in the industry. This will help keep you informed when there is a job opening. Do not send requests to strangers.
   • Some professional organizations, such as the Association for Financial Professionals, also offer networking via their website.
4. Keep in touch. When you meet someone, you should send a follow-up email the same or next day. This will remind them of who you are, and it will give them your contact information. Stay in touch periodically. You can ask contacts for more information, request a meeting or interview, or simply wish them happy holidays.
   • A good follow up email states something like, “Dear Karen, Thank you so much for taking the time to speak with me. I found your advice very helpful, and I will take it into consideration as I continue looking for jobs. Thank you again, and I hope you have a great week! Best regards, John Smith.”

Getting the Job

1. Collect references. Before you apply for jobs, you will need a few references from people who can attest to your skills, experience, and positive characteristics. It is best to get references from people inside of the industry, but if you do not know anyone yet, you can ask professors, former bosses, and other people in your network. You should aim to have at least three to five references ready when you apply.
   • Keep your references updated about your goals and progress. They might have advice about how to successfully apply for jobs. If you show that you are dedicated, they may even spend more effort writing the recommendation.
2. Research the job beforehand. Sending out mass applications for jobs will not increase your chances of success. Instead, look into each job that you are applying for. You should know who the executives are, where their headquarters are located, and be aware of any recent developments in their financial state. Tailor your resume and application to the specific bank that you are applying to.
   • If you are applying to a large national or multinational bank, you should set up a news alert through Google Alerts or a similar program. They will send you notifications whenever that bank is in the news.
3. Prepare a list of questions. If you are called to an interview, you will want to demonstrate that you are interested in the job. A good way to do this is to prepare questions for the interviewers. These should be questions that are not easily answered by googling the company. They should show awareness of the company’s practices and demonstrate a willingness to learn. Some good questions include:
   • “What skills would you say make a successful candidate?”
   • “Who would I be working for at this bank?”
   • “How would this position evolve over the next 12 months?”
   • You can also specific questions about the development of the bank. For example, “What is your bank’s strategy for increasing their market share in the coming year?”
4. Namedrop with caution. You may want to use your network during the interview by naming important executives or well-connected friends. If done poorly, namedropping can come off as pretentious or rude. Instead, wait until you are asked a question to state your connections. Only namedrop if you actually know the person and if they know you. Your recruiters may follow up on it, and you do not want them to find that you do not know the person well.
   • For example, if they ask, "Why did you apply to our bank?" you can say, "I am friends with the regional director, Michael Jones, and he said that this would be a great opportunity for me to break into the industry."
   • You may also namedrop when asked about your skills or past experience. For example, if asked about your previous experience working at banks, you can say, "I worked under Lisa Williams when I interned at this bank, and I learned a lot from her."
5. Send a follow-up email. After the interview, you should send the recruiters an email thanking them for the opportunity. This should be a short email that emphasizes your interest in the job. Do not ask them if you have received the job or not.
   • A good email might say, “Thank you for the interview at your bank. I appreciated the opportunity to speak with you. Please let me know if you have any questions for me. I look forward to hearing from you soon.”
   • Even if you do not get the job, a good email will help you network with them. They may be willing to tell you why you did not get the job so that you can improve for your next application.

Tips

• Be polite, courteous, and professional at all times.
• Communication is key in building a network. Stay in touch with your contacts. If you take their business card, be sure to email them afterwards.
• When meeting people, you can discuss things other than business. Show your unique, interesting side, and people may remember you more clearly.

Warnings

• Even with strong networking, you might not be accepted at the job of your dreams. Keep trying. It can take many attempts before you get a job in the industry.
• Do not email strangers to ask them for help. Ask friends and advisers to contact acquaintances for you first before you send them an email.

References

See also

• Prepare for a Banking Job
• Generate Promising Leads as a Loan Officer
• Become an Equity Analyst
• Become a Mortgage Loan Officer
• Become a Broker
• Prepare for IBPS Written Exam
• Find Legitimate Banking Jobs in Nigeria
• Get Mortgage Clients
• Become a Junior Stockbroker
• Be a Financial Planner

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What links here

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