And by “times like these”, I mean “economy-in-trouble, big-firms-like-BCG-tightening-hiring, even-bigger-firms-like-Accenture-cutting-people” times.

Here’s the concluding part of our live networking podcast – conducted with yours truly and Brian from Mergers and Inquisitions. You can find part 1 of our networking discussion here. You can download the audio clip right here:

• Download the MP3 [50+ Minutes | 22 MB]

For people who prefer text, here’s the 22 page PDF:

• Download the Text Transcript [22 Pages | PDF]

Here are the topics and questions covered in Networking 102:

Networking Internationally

“How do you maintain and continue to develop a network with recruiters, Analysts, MDs, etc. while you’re studying abroad for an extended period of time in a foreign country? How can you make up for the lack of personal interaction?”

“If you work overseas, how do you get to America in both office, transfer, and general recruiting networking?”

Click here for more on international management consulting.

Giving Up

“When do you think it’s time to actually throw in the towel after all of your networking efforts, developing relationships and cold calling, just don’t pay off? Say it’s May and there’s only one month left before Analyst training which effectively closes the window of opportunity. What do you do?”

“What to do when contacts, alumni friend referrals, are really about to vanish or dry up. I’ve scoured different databases and social networks and am really beginning to run out of contacts after holding over 35 informational interviews.”

Fast-Track Networking

“If he’s in a position where he gets a return offer to his summer internship but he still has contacts at the other places that he actually wants to work out, what’s the best way to go about networking and getting into those places?”

Your Own Value Prop

“I don’t quite understand the concept of networking. As an undergraduate, why would an alumni go out of their way to assist you in finding a job? You don’t have anything to offer them so it feels one sided and embarrassing to ask for their help. Establishing a relationship when they’re complete strangers is really difficult so why would they care about helping some undergrad kid looking for a job?”

“Is there a way to differentiate yourself from other networkers by somehow providing some value to the person you are contacting? What, if anything, might a student have to offer that would be of interest or feel like a contribution for an Analyst, Associate, or more senior person? If there is something that would be well received, how would you suggest working it into the dialogue?”

Networking Internally To Different Groups

“What’s the best technique to make contacts with these people in different divisions and how do you go about networking from one group within a bank to a different group?”

Networking As An Intern

“How are you going to be successful when you’re an intern in terms of networking for a full-time offer, being able to get to be part of the team or the group that you want to?”

Click here to learn how to become a rockstar summer consulting intern.

Senior People & Transitions

“As your Analyst years are coming to an end, how do you network effectively for the best exit jobs as well as how do you network intelligently with senior people at your firm?”

Firm Presentations

“How would you prepare for a firm presentation and networking mixer? Would you recommend talking to one or two people for a long time or working the room?”

“For organized networking events, is it appropriate to carry a resume on you? How about meeting industry professionals at events? How do you from that to then building beneficial relationships that will help with jobs, etc.?”

Click here for a step-by-step guide to information sessions and company presentations.

Finance-Specific Networking

“What sort of advice do you have for someone in small PE firm interested in moving up into the buy-side instead of just the support function in the group?”

“What do you think about non-finance work graduate school, then transitioning through an MBA? What about PhD to MBA to finance?”

Click here for the substantive differences between investment banking and strategy consulting.

Consulting-Specific Questions

“What would be a good networking strategy for ‘on the beach’ time, basically when you’re not on a project and you’ve got a little bit more free time?”

“Is it good for you if the McKinsey recruiter knows you’re applying for BCG, Bain, other consulting firms?”

“What can you do if you have an interview with two of them on the same day at the same time?”

Linked-In Networking

“Hi Kevin, how should you network in LinkedIn? Is it appropriate to send cold messages to the big three guys?”

Click here for my answer to a reader question on how to use LinkedIn for recruiting.

We hope you guys enjoyed it!

While Brian has recently moved to Korea, we plan to continue some type of podcasting collaboration into the future. If there are any topics that interest you, please contact us directly or leave a comment below!

Stay connected:

I offer resume editing and interview prep. Through one-on-one sessions, I’ll help you stand out from 1000’s of other applicants and land consulting jobs

It’s finished. I think you’ll agree it was more than worth the wait.

You can download the audio clip right here:

• Download the MP3 [44 Minutes | 21 MB]

Now it’s not short at 44 minutes. And we only got through about half of your reader questions through comments and emails. This means that there will be a part two – so stay tuned for that as well.

Put it into your iPod as you’re going for a run. Burn it onto a CD and listen as you’re driving to work. We divulge A TON of tips on how to become a master networker – and it’s not just useless crap like “Be more aggressive”.

We really talk specifics, from the steps you take in turning a cold call into a warm call, to dealing with awkward/unhelpful alumni. The list goes on!

For people who prefer text, here’s the PDF – in its 19 pages of glory:

• Download the Text Transcript [19 Pages | PDF]

And for the short-attention span people out there, here are The 10 Takeaways You Shouldn’t Miss From Our Networking Seminar:

1. For those in school, attend every event possible. Network properly while there! Don’t be lazy or you’ll be the one regretting it when you’re out of a job. Out of school, join professional associations, networking groups, attend conferences, etc. Keep your eyes open for the next opportunity. And don’t overlook friends and family!
2. Be straightforward when establishing contact with consultants/bankers that you don’t know. Incrementally build the relationship through multiple communications, and have them refer you to others - thereby warming the start of that new relationship!
3. Even if someone’s been laid off, they can still be helpful. Be sensitive to the situation, direct in your interest, and tune your communication according to how well you know the person.
4. Only contact senior consultants/bankers when you have a legitimate reason. Only after a long time passes without contact should you reach out with a superficial reason
5. With cold calls, follow KISS: keep it simple, stupid. Immediately let them know how you got their number, the reason for calling, and one or two sentences about your background. Ask for referrals…and ask open-ended questions to contacts who are trying to brush you off
6. With cold calls, focus on boutiques. You probably won’t cold-call your way into Goldman Sachs (but I’m sure its happened before!). As an exit option, you can always ask to followup at a later time or via email
7. Always speak to bankers/consultants, not recruiters, to get things done. If you’re getting lukewarm responses, know when to drop things and move on to your next lead
8. The best conversations you can have with bankers and consultants is just that: a real conversation. Not 50 questions about their job, not 100 questions about the strategy consulting industry. Talk about their lives, their hobbies, and chit-chat like you would a friend.
9. Give people a reason to help you out. Avoid directly asking for referrals, etc – but if you let them know that you’re interested or that you already applied, the ones who want to help you out will proactively do so. Only use a direct-ask with a strong relationship as a last resort
10. Mentors can come from anywhere – managing partners, directors on down to analyst and interns. When you find them, make their life easy. Reach out in specific areas where you need help. Find common ground that you can talk about.

Here are the topics and questions we cover:

Finding Names and Contact Info

“How about for people who do not know consultants or even finance people? How do you build those names and meet those people in the first place?”

“How would you approach making contact with complete strangers at different firms that you are interested in?”

Recession Recruiting

“What is the next best step for recruiting in a firm when your only contact within the firm found out you will be laid off before you are ready to utilize him to break into the company?”

“Do you have any tips on getting in touch with former senior colleagues?”

Click here for more on recession recruiting

Turning Cold Calls Into Warm Calls

“I was wondering what the dos and don’ts for cold calling are in general? On the outline it appears to have great potential. Most of my colleagues however discard cold calling outright. Is it a strategy you would recommend?”

Following-up With Your Business Contacts 

“If you’ve done a lot of cold calling with several different firms, this guy was wondering, well, how do you exactly followup after the initial call?”

“How would you approach this and how would you move on to the next firm?”

“Is there any way to keep in touch with senior partners even if you don’t have a reason why to followup and instead you just want to keep in contact?”

“Also if you could please talk about how can they followup after an MD or analyst showed interest in their resume?”

“Over time, as you contact alumni, the numbers will accumulate. How would one go about maintaining these contacts before recruiting season and then when the time comes, how do you make the ask?”

“After meeting someone whom I would like to network with at a networking event, what is the appropriate followup? What is a good way to keep in touch?”

“When the time comes, how do you make the ask for opportunities to interview?”

Awkward Alumni

“I contacted some alumni in the past with a phone conversations that eventually became Q&A, it felt very awkward and a little bit dry. If you had mentees contacting you in the past, how would you suggest making the conversation more interesting, getting to know them personally and even establishing a friendship. What kind of mentees are mentors looking for and what’s their incentive as a mentor for sharing information with someone who they don’t know?”

“What’s their incentive for sharing information with somebody they don’t even know?”

Whew. You guys were definitely curious, and we had a great time recording the discussion.

What did you think? Any questions or comments after listening to/reading the discussion?

Stay connected:

I offer resume editing and interview prep. Through one-on-one sessions, I’ll help you stand out from 1000’s of other applicants and land consulting jobs