Stepping up your Networking

1. Final (rev.1 vs 01.16.09 original) Stepping up your Networking Actions to make your networking efforts pay off February 6, 2009

2. Purpose • To provide more specific advice on how to approach networking so that you can find contacts, uncover job opportunities and position yourself as the most promising prospect. In order to get the most out of this presentation, read “Stepping Up Your Self-Directed Job Search” first.

3. Agenda Background: Reminder of what you need to have in place before you start networking Discussion: Close up on networking The implications of the principle: Making it easy for people to help you Resulting action plan for you to follow Approach by target Approach by media Q&A and feedback 3

4. Part One Background Refresher on “Stepping Up Your Self Directed Job Search” 4

5. Reminder: The 4 principles that should shape your job search • Know where you want to be in Company X and why • Create the perception that you have already done the job that you are pursuing • Make it easy for people to help you • Own the process If you aren’t familiar with these, please read the “Self Directed Job Search” presentation on the COC site 5

6. Reminder: How these principles shape your job searching tools 6

7. Reminder: The first two principles need to be realized before networking begins • Know where you want to be in Company X and why • Create the perception that you have already done the job that you are pursuing It won’t be “Easy for people to help you” unless you can be super-articulate about what you want to do and why you are the best candidate for the position 7

8. Pre-networking checklist • You have a target list of 35 companies and can articulate why you are interested in Co. X • You know what function/position you want to be in (finance, marketing, etc) • But you also have in mind a back-up position you’re interested in pursuing • You can articulate succinctly why you are pursuing this position and what you bring to the table so that your audience gets the perception that you have done this job (by a different name) before Once you’ve done these things, you are ready to network! 8

9. Part Two How to “Make it easy for people to help you” What this means for you in actionable terms 9

10. The conversation that may be going on in your head I understand the concept, “Make it easy for people to help.” But, what is the implication for me? What do I need to go do? Hmmm….if I say to myself, “I need to make it easy for people to help me, so I need to ________” … I can derive implications. YOU 10

11. Lets try it: In order to make it easy for people to help you, you need to _______ Ask for things that are easy to give: 1) advice 2) names of friends or colleagues who may have other insights 3) feedback on your resume. Be super clear about your ultimate goal – a job doing ________ at Company X (or a company like X) Be ubiquitous Reach broadly so that you are not relying too heavily on any one person Remember that you are always selling yourself…..don’t waste time asking a bunch of questions…get to what you’re offering Be likable by showing your appreciation and keeping it short 11

12. You may be thinking… Can we get more specific? 12

13. Take a step back and think about all the real-life situations you may find yourself in as you network Lets make an action plan so that you know what to do in each of these situations ( = Go do this! ) 13

14. Close up on #1 & # 2: Ask for things that are easy to give AND Be super-clear about your ultimate goal • You are not asking for a job. You are asking for: • Advice on how to get a job; • And/Or, names of people who can help you because they are in the industry you want to be in. Or, because they do the job you want to do; • And/Or, for your contact to look at your resume and see if they have any feedback (which you can ultimately take or leave) • That said, you need to balance this with being clear that you ultimately want to get a job in ___ at Co. X. 14

15. How does this look in real life with People You Know (PYK)? • Spell out what you are trying to do so that your contact has a very clear idea of what you are asking them to think about 15

16. How does this look in real life with People You Know (PYK)? • Spell out what you are trying to do so that your contact has a very clear idea of what you are asking them to think about 16

17. What else? • Make your list reader friendly and pass-along-worthy (pretty counts). Otherwise, it will just get tossed. Descriptive Title and date for accountability Company A Company B Company C Company D Company E Company F Purpose Thought Starters Specificity and more thought starters Specificity and more thought starters No one is going to read or remember this Consider using company logos or other cues to make this more visually interesting 17

18. How does this look in real life with People You Don’t Know (PYDK)? • Spell out what you are trying to do so that your contact has a very clear idea of what you are asking them to think about 18

19. How does this look in real life with People You Don’t Know (PYDK)? • Spell out what you are trying to do so that your contact has a very clear idea of what you are asking them to think about 19

20. Close up on #3 : Be ubiquitous • You must be • Continually in touch with your network • Easy to find • Quick to respond • Affiliated with the “group” you are trying to become a member of • Keeping your network informed of your job search progress • Staying in touch even after you are employed 20

21. How does this look in real life with People You Know (PYK)? • Stay in touch with your network as best as you can. Remind the key players of what you are doing and that you need their help. Do so: • In person • By email • By Phone • Via LinkedIn or Facebook 21

22. How does this look in real life with People You Know (PYK)? • Be meticulous about your record keeping. You need to create a system that allows you to easily access: • Contact name • How you got to them • Date(s) you communicated • Actions you need to take as a result of this communication There is NO “right way” to keep records. It’s a matter of personal preference. That said, you need to create a system that works effectively for you! 22

23. How does this look in real life with People You Don’t Know (PYDK)? • Actively use LinkedIn to get your message out there • Join as many relevant groups as possible including: Carnegie Mellon, Tepper, MSCF, Quant Finance, High Frequency Trading, all prior firms that you have worked for, your undergraduate, your city, your function, your target company names; other relevant cues. • Regularly read and participate in discussions and blogs with the goal of finding networking targets. • Fill out your profile as if it’s a billboard: • List your prior work experience/titles. If possible, do so in a way that positions you for the job you are pursuing. • Complete “Education” section • Write a very descriptive “Summary” that captures all your key selling points and the highlights of your resume. • Feature your resume on your page (under “Experience”) 23

24. For perspective, here is a very communicative LinkedIn summary • What works: • - Function specific lingo • High level description of her experience • Super clear takeaway for the reader 24

25. For perspective, here is a LinkedIn summary that misses the opportunity • What is missing: • - No function specific lingo • No clear description of past experience • Unclear what the reader should take-away 25

26. How does this look in real life with People You Don’t Know (PYDK)? • Actively use LinkedIn to find contacts and reach out to them • Join as many relevant groups as possible including: Carnegie Mellon, Tepper, MSCF, prior firms, your undergraduate, your city, your function, your target company names. Then check in regularly to see what is being discussed, what the update is, what the latest “connection or group updates” are, etc. You may find an opportunity to chime in or a contact name. • Use the “Search” feature to find contacts. Search based on: • Your current company list • Former work places • Former colleagues’ names (even if you have been out of touch) • Your desired function (Private Equity, Trading, etc) • When you “Invite ___ to join your network,” do not use the generic message that LinkedIn automatically generates. Instead, write in the email: 1) how you are connected to the person 2) explain that you are networking and 3) tell them you are looking for advice. • Some people are more willing to let outsiders join their networks than others. So, you should try to connect to PYDK via building connections (which LinkedIn shows you) vs randomly emailing them. However, you never know when you may get lucky with a random email. 26

27. How does this look in real life with People You Don’t Know (PYDK)? • Actively use Facebook to find contacts and reach out to them • Look at all your friends’ friends to see if any of them provide clues as to how they may be helpful to your job search. • Email all your friends and tell them what you are doing; ask if they can be helpful • Write on your own or your friend’s wall, “Do you know anyone who works at Microsoft?” and see if you get any replies • BE PROFESSIONAL! Do not post questionable pictures, comments, etc. Employers DO look! (see appendix for specifics) LinkedIn is much more of a business-only tool than Facebook (which seems to be 100% social). So, focus your efforts on LinkedIn and use Facebook opportunistically (walls, emails to friends, etc.) 27

28. One important thought about Facebook • Again….Be meticulous about your record keeping. • Be careful to accurately record interactions including making note of when a PYDK becomes a PYK 28

29. How does this look in real life with People You Don’t Know (PYDK)? • Again….Be meticulous about your record keeping. • Be careful to accurately record interactions including making note of when a PYDK becomes a PYK 29

30. Reminders of other ways to “Be ubiquitous” (previously discussed) • If your target companies cluster geographically, find contacts and then go and meet them in person…go there! • Join any/all professional groups and attend meetings • Tap into all of your current networks (everything from your undergraduate network to your extended family). • Look at the first year class and second year class resume books so that you can see if any of your classmates worked at one of your target companies prior to coming to Tepper. • Go the extra mile and look at last year’s graduating class resume book. If you find someone who worked at one of your target companies, ask all the 2nd years if they know that person or keep in touch. • Try 3 times to connect with a contact (via email or phone) before moving on. If they haven’t responded after 3 times, they are probably not willing to help. Note that either email or phone is appropriate for a first contact. There is no “right” outreach protocol. 30

31. Close up on #4: Reach broadly • There are two camps of people (PYK and PYDK). These comprise all of your potential contacts. • You already have a network in place (PYK) …reach out to them! • Your goal is to grow the network via every possible avenue Implication for you (and we can’t say it enough): Tell everyone (PYK) about your networking efforts and what you are trying to accomplish! 31

32. How does this look in real life with People You Don’t Know (PYDK)? • Investigate and broaden your network with help from Hunt library 32

33. How does this look in real life with People You Don’t Know (PYDK)? • Use LinkedIn and Facebook and others like them (see pages 23-27). 33

34. Close up on #5: Remember that you are always selling yourself…..don’t waste time asking a bunch of questions…get to what you’re offering • Remember that you are selling your brand so every interaction matters. 34

35. How does this look in real life with PYK and PYDK? • Frame your conversations/emails in terms of what you can do for Company X, not why you would like to work at Co. X. Remember that it is about what you can do for them…not what is in it for you. • DON’T: “I want to work at Company X is because it is the leader, most innovative, smart, etc.” Company X already knows this and will not be impressed by your compliments. • DO: “Based on my research, I think my background as a problem solver and team player as well as my passion for _________, will allow me to come in and hit the ground running at Co. X.” • If/when you meet/talk, use the opportunity to sell yourself AS you pose questions about the company. Remember, you are looking for “advice.” • DON’T: Ask impossible-to-answer questions like, “What is the company’s new product strategy for the upcoming year….?” • DO: Use your company research to highlight your selling points. For example, “I see that Company X is on a new product introduction streak. Should I be focusing efforts talking about my new product launch experience? In the past I….” 35

36. Close up on #6: Be likeable • No one is going to help you if they don’t like you…especially in this economy when people are worried about their own jobs. 36

37. How does this look in real life with PYK and PYDK? • Say/Write “please” and “thank you.” If you don’t, then the whole Tepper community (present and future) looks bad. A real life example follows 37

38. Letter received by COC from an Alum (Jan 2009) Hey COC counselor - How are you? How is it going? I wanted to raise an issue with you that is somewhat concerning to me: I have recently been contacted by a few of the students who have received second rounds with Company ABC asking me for help & I have spent some time and effort giving them tips and locating people who work in the specific product groups that will interview them. In all of these cases I have not received one reply thanking me for my help. This is concerning to me not because I care about the thank you's - but more because these people are probably acting the same way with people they don't even know who are not committed to them or maybe even to Tepper in any way. Just to give you an example: A person sends me an email saying they are interviewing with group X asking for help. I send them a very elaborate 2 page email giving general tips, telling what I know about group X and saying that I will try and find someone who works in group X to connect them to. I get no reply to the email. A few days later I find someone who agrees to talk with them and I make the connection. Again no reply (not even a confirmation of receipt). A few days later, the student sends me another mail saying that this person I found for them did not reply to their email - could I find someone else? I give the contact person a call and he says that he was sick and asks that they contact him again. I send the student an email asking them to contact the person again. Again - no reply. This is very strange to me - when I was looking for a job - I was so grateful to anyone who was willing to spend 5 minutes to help me...I see it as a matter of basic manners (and you know me - I'm not this formal guy) – I also found that showing gratitude makes these people prone to spend more time helping you if needed. I am sure that some people will be really offended by this and not feel like helping these people again. Moreover - these contacts in the product groups that are going to interview the students can help the student if they are impressed with them by saying a good word to the interviewer, OR do the opposite if they are offended by their manners... 38

39. How does this look in real life with PYK and PYDK? • Keep it short … enough said 39

40. Part Three Discussion and Q&A Here is where you can add your ideas 40

41. What else? Do you have any advice to give other students in order to help their networking efforts? Was there anything missing in this presentation that we need to include in order to help with your networking efforts? Do you have any other questions or comments? 41

42. Part Four • Appendix • Getting started with the networking tools here at Tepper • Article from NYT about using privacy settings on Facebook 42

43. Start networking with COMPASS • Find Tepper Alums/friends of Tepper via COMPASS: • https://alumni2.tepper.cmu.edu/compass/Login.aspx • Look in green Quick Link box on COC home page; listed as Tepper Alumni Database • You can search for alums by People or Company • Name • Alum chapter • Geography • Advanced But…. 43

44. The most efficient way to search is via “Advanced” (first hit “People”) • Go to People • Go to Advanced • Degree year • Level (MBA, PhD) • Job function • Title • Alum Chapter (use for broader reach vs. “Geography” or “Zip code”) • Company (Type in first few letters or words for list to appear) • Industry (Type in first few letters or words for list to appear) • Status as “Recruiter” or “Corporate Presenter” • Note that the issue we face with COMPASS is that the data has not been 100% vetted and the interface is evolving. 44

45. Or, here is what Alumni Relations recommends: • Visit www.tepper.cmu.edu/alumnidirectory and click on the link “Forgot Password” • A screen opens asking for your email address and to fill out the reCaptcha form. • If you enter an email address that Compass recognizes, then you are sent a link to follow in order to set your own own password.  • If Compass does not recognize your email, you are given the Tepper-Alumni@andrew.cmu.edu email to contact for assistance.  We monitor that email address daily and will answer any questions/requests then. • For Carnegie Mellon, any alum can log in or register if they have not all ready.  For questions, the main CMU alumni phone number is 800-226-8258. 45

46. CMU resources are also available • Find CMU Alums/friends of the university via http://www.cmu.edu/alumni/index.html • Get your Personal Access Code (PAC) through the Alumni office (J. French or G. Weems janicef@andrew.cmu.edu or weems@andrew.cmu.edu • Hit Current Students on the left • Hit Online Community link (in the middle of the page, part of text). This will take you to a page labeled Connect which provides links to to other networking channels including: • Carnegie Mellon on Facebook • Carnegie Mellon's LinkedIn page • Carnegie Mellon's YouTube channel 46

47. Here is the Connect page from the All-CMU Alumni site Connect Carnegie Mellon offers a number of tools to help alumni connect with the university, each other and current students—including our own online community, the Carnegie Mellon LinkedIn Network and our channels on social networking sites like YouTube and Facebook.Find and Contact Classmates•    Search the alumni directory•    Sign up for a you@alumni.cmu.eduemail forwarding account•    Become a Carnegie Mellon Fan on FacebookCatch Up On and Discuss the Latest News from Fellow Alumni•    Read and submit Class Notes onlineNetwork to Advance Your Career•    Connect through Career Networking•    Connect via Carnegie Mellon LinkedIn Network•    Meet alumni in your area through the Regional ChaptersFind and Register for Alumni and University Events•    Visit the Alumni Events CalendarGet the Latest Online News and Media about Carnegie Mellon•    RSS Feeds•    Carnegie Mellon iTunes U•    Carnegie Mellon on YouTube Go to 47

48. Words of Wisdom from the NYT • BASICS On Networking Sites, Learning How Not to Share By RIVA RICHMOND • YOUR boss saw pictures of you drunk at last Saturday’s party. An old flame found out you’re seeing someone else. The nosy neighbor discovered you were laid off. • These and many other uncomfortable scenes are repeated daily on social networking sites, where millions of people now gather to share the details of their lives with, well, practically anyone they’ve ever known — and quite a few people they don’t know at all. • Like well-behaved kindergartners, we love to share. And Web sites like Facebook, MySpace and LinkedIn have grown hugely popular by making sharing bigger, faster, easier and awfully fun. With so many people participating — 35 percent of Internet users in the United States aged 18 or over now use an online social network, according to a December survey by the Pew Internet Project — life on these sites can be very rich. Yet, evidence of your nocturnal exploits, ill-considered comments and business secrets can also go global in an instant. • Much of the danger lies in the fact that, increasingly, our “friends” on social networking sites are actually a mix of people — friends, family, acquaintances, colleagues — with whom we would normally share only a piece of our lives. • The good news is that the sites, eager to prevent jittery users from scaling back what they share, have been busily adding features to give us more control over our information. These privacy settings are not always easy to find and use, and they can get downright complicated. But if you think before you post and put the privacy settings to work, you can socialize and network in the way that is comfortable for you, with less worry about mishaps. • The first decision is whether to make your profile publicly available or to keep it more private. More than a third of adult users allow all comers to see their profiles, while 60 percent restrict access in some way, according to the Pew survey. Here, it’s helpful to consider your goals. Do you simply want to connect with the friends you already know? Or are you looking to make new friends or cultivate business contacts? • All the big social sites give you control over public accessibility, but each starts at a different place on the public-private continuum. • The full profiles of MySpace users aged 18 and over are available to everyone on the Internet by default. Users can make their profiles private fairly easily, but the onus is on them to do so. Go to “Account Settings,” then “Privacy Settings,” then “Change Settings,” then “Who Can View My Profile.” From there, you can customize who gets to see what. 48

49. Words of Wisdom from the NYT (continued) On Facebook, the default is a private profile — users decide how far to open the door. You can choose to limit admittance to friends or allow in members of your “networks,” which may include people who went to the same school, work at the same company or even live in the same city or country. To make adjustments, go to the “Settings” tab, select “Privacy Settings,” and work your way through the options there. Facebook has long allowed users to create more circumspect “limited profiles” for less-close friends. But about a year ago it expanded that notion and enabled users to create many “friend lists” — one for college buddies, another for work friends, another for family — and control the information they share with each. This makes it possible to distribute party photos with only our best friends, and family reunion photos with just your family. If you’re looking to keep a low profile on Facebook, it would also be a good idea to look at the “Applications” section in Privacy Settings. Just because you have shielded parts of your profile doesn’t mean you have done the same for Facebook applications that have access to much of the same data by default. On LinkedIn, which is used for professional networking primarily, most people want public profiles, and that’s the default. The information LinkedIn users share tends to be professional credentials, not details of their social lives, so there’s less need for privacy. “You should think of LinkedIn as your safe self for the public world,” spokeswoman Kay Lau says. But LinkedIn users will still want to be careful what they divulge. James J. Talerico, Jr., an independent business consultant based in Dallas, uses the site heavily to network with potential clients looking for financing and investors interested in projects so he can match them. He recently changed his settings to conceal his list of nearly 2,000 contacts, after noticing that a competitor viewed his profile. (Click on “Account & Settings” from your homepage, then scroll down to adjust the privacy settings.) 49

50. Words of Wisdom from the NYT (continued) “There are so many opportunities with social networking now that they outweigh the potential risk,” Mr. Talerico says. But as in offline business settings, “you have to be cautious and you have to set those boundaries.” Whether your profile is public or private, for security reasons, it’s a good idea to avoid posting your home address, phone numbers and other data that could help identity thieves defraud you — including details like your mother’s maiden name. Even if your profile is private, there’s little to stop your online contacts from copying and sharing your data with others. So it’s a good rule of thumb to avoid posting pictures or confessions that would humiliate you or a friend if they reached the wider world, because they very well could. One of the best-known cautionary tales in this regard is the one about the tipsy Tinker Bell. Last Halloween, a young intern at a bank reportedly e-mailed his bosses begging off work the next day for an implied emergency trip home to New York. Co-workers saw a picture of him on Facebook the next day in a sprite costume with a wand in one hand and a beer in the other. His boss e-mailed the shot to the intern and blind-copied the entire office. Within hours, the photo and e-mail messages were splashed on a popular blog and around the Internet. (You can see the whole story on Gawker at tinyurl.com/db9t2o.) Maia Gilman, a freelance architectural designer in the New York area, considers carefully everything she posts on Facebook, avoiding negative comments about anyone she knows and regulating the political views she expresses. Ms. Gilman is also careful about posting photos of her two sons and has asked babysitters not to post any at all. As a self-employed person, “everywhere I go I’m meeting a prospective client,” she says. “You put your best foot forward because you don’t know who you’ll meet.” The reality of online socializing is not all that different from actual socializing. Amanda Lenhart, a researcher at the Pew Internet Project may have put it best. “We are different people with different people,” she said. 50