The topic today is your professional network. Who you know has always been important in the finance industry. Your network isn’t just a tool for gaining insights into the evolving finance market or making your LinkedIn profile more compelling. It can be the key to unlocking new career opportunities in a competitive market.
As the finance landscape becomes increasingly interconnected, building a robust professional network is how you prepare yourself for ongoing growth.
The trouble is that mastering networking today is difficult, mainly because you must proactively build in-person and digital connections. Here is how you can use the power of networking to stay ahead of market trends, gain invaluable support, and access new roles.
The Modern Networking Landscape for Finance Professionals
Networking is very different today from what it once was. Building a network used to involve constantly attending in-person events, like seminars and conferences, and sharing business cards with peers. While in-person relationship-building opportunities still happen – they’re a lot less common.
Digital networking is taking over, with finance professionals increasingly focusing on their LinkedIn profiles and digital forum accounts to seek new opportunities. Industry-specific platforms are emerging, focusing on accountants, financial managers, and those interested in cutting-edge innovations like sustainable finance. At the same time, professional associations, like the Chartered Financial Analyst (CFA) Society, still hold crucial value for finance experts.
On a global scale, effective networking is becoming more complex, requiring professionals to take a hybrid approach to seek out opportunities, from alum networks to social platforms and building online and offline relationships.
Additionally, a niche-specific approach to networking has become more critical as online opportunities increase. Focusing on sourcing networking opportunities connected to areas like investment banking, asset management, and FinTech can help you find relevant peers to learn from, valuable mentors, and new job opportunities.
Building your Networking Strategy: Getting Started
Since building an effective network is much more complicated, a comprehensive strategy is becoming crucial to success. It’s not just about connecting with as many people as possible anymore – it’s about actively identifying and nurturing the best opportunities.
Start with a network audit. Who do you already know, and where do gaps exist based on your long-term career goals? Think about what you want to accomplish with your network. Do you want to gain international expertise, learn more about a specific niche, like FinTech, before transitioning into a new role, or open the door to new job opportunities?
From there, map the relationships you need to build and how they’ll impact your career. For instance, if you want to enter the asset management landscape, building relationships with junior asset managers can lead to connections with senior professionals.
As you are developing your strategy, think carefully about:
- Communication: Strategise on how you will engage with your network. This could include sending personalised messages, scheduling coffee chats, or regularly sharing insightful content on LinkedIn to stay visible.
- Platform selection: Align your efforts with the most relevant platforms to your field. LinkedIn is essential for all finance professionals, but asset managers might benefit from forums like CFA Society events, while FinTech enthusiasts should explore tech-driven platforms.
- Time management: Actively invest in your networking strategy. Allocate time to reaching out to new people, examining your connections, following up, and attending events every week. Make networking a part of your daily to-do list.
Remember, the focus should be on quality over quantity here. Focus on building meaningful connections and measuring the results of your efforts – track which methods lead to job opportunities, mentorship, industry insights, and more.
Mastering Digital Networking
In a hybrid and digital world, connections aren’t forged face-to-face as often as they once were. You will miss out on valuable opportunities if you don’t have a strong online presence and a strategy for connecting with people online.
Start with developing a compelling online presence. Depending on your career goals, consider creating a personal website where you can share content about your wins and experiences. At the very least, you must ensure a strong LinkedIn profile, a professional photo, a detailed summary of your knowledge and skills, and endorsements.
Don’t stop optimising your LinkedIn profile, though. Think about the other social channels and forums employers and peers might find you on. Maintain professionalism in all interactions across social media channels – and make personal profiles private if necessary.
As you invest in building your online presence, focus on:
- Your content strategy: Constantly draw attention to your knowledge and experience by sharing insightful articles, industry news, and personal opinions. Engaging content will help attract connections and validate your understanding of your finance niche.
- Engagement: To expand your network, actively engage in online experiences like webinars, events, and virtual meetups. Join industry-specific groups and forums to share knowledge, stay updated on trends, and reach out to your peers regularly.
- Platform-specific approaches: Tailor your strategy to each platform’s unique features and audience. For example, while LinkedIn is ideal for professional content, Twitter (X) is great for real-time industry updates and discussions.
Reputation management is key. Once you’ve developed a strong online presence, maintain it. Monitor what people say about you online and how they describe you based on the content and insights you share.
Face-to-Face Networking Excellence
Although many of your networking efforts might occur “online” these days – engaging in face-to-face connections can still be powerful. 95% of professionals in a Harvard Business Review report once said that face-to-face interactions are crucial to building long-term relationships.
Look for opportunities to meet peers and industry experts in person. Consider attending industry events, like conferences and seminars, for valuable insights into trends and relationship-building opportunities. Alternatively, you could join professional associations, like the CFA Institute, which regularly hosts dedicated networking events.
Alum meetups are another excellent opportunity, particularly if they allow you to connect with peers who follow similar career paths or have the same certifications. You can also investigate informal coffee meetings, job fairs, and workshops in your local area.
One particularly valuable option to consider is joining a mentorship program. Participating in mentorship initiatives doesn’t just give you access to expert guidance and constant career support – your mentors can also introduce you to valuable connections that will become a critical part of your network in the years to come.
Remember, wherever you connect with people in person, you should focus on delivering value and forging strong emotional relationships. Don’t just bombard the people you meet with information about you. Learn about their aspirations and goals and look for ways you can give them value with insights, advice, or perspectives.
Maintaining, Nurturing, and Leveraging Networks
Learning how to build a professional network (both online and offline) is just the first step. For your network to have a measurable impact on your career growth strategy, you need a plan for nurturing, maintaining, and leveraging your connections.
Strong networks, just like strong relationships, require ongoing effort. After you meet valuable people in the finance industry, follow up promptly. Send a personalised message referencing your conversation and expressing genuine interest in staying connected.
Regular engagement is key – comment on their LinkedIn posts, share articles they find valuable or invite them to events. Focus on your value proposition: offer beneficial insights, connections, or collaboration opportunities. Effective relationship management is rooted in mutual reciprocity; aim to build trust over time – don’t just reach out when you need help.
To keep your network thriving, take a holistic, long-term approach. Schedule regular check-ins with key contacts through emails, virtual calls, or in-person meetings. Periodically refresh your network by seeking new connections in emerging areas, such as FinTech or ESG investing.
Foster goodwill within your network to prepare for potential crises. Whenever possible, be a source of support for your network so your connections want to return the favour. Remember to watch your reputation and always maintain professionalism.
Don’t just build your network – use it. Leverage your connections to identify new opportunities in your industry. Gain insights into job market trends from your peers and use that knowledge to make strategic decisions that help you stay ahead of industry demands.
Use your network during career transitions for referrals and guidance, and ask them for advice on developing new skills and capabilities. Access to industry insights and leadership advice through established professionals can accelerate your growth.
A strong network is more critical than ever in today’s finance job market. Your network opens doors to roles, insights, and support you can’t get anywhere else. By strategically building, nurturing, and leveraging your connections, you’ll gain a crucial advantage that will help you stay resilient in the face of market changes.
Need help taking your network to the next level? Consider partnering with a financial recruitment company, like Rebus Recruitment. We can help you identify networking opportunities, enhance your professional brand, and introduce you to growth strategies you might not find elsewhere.
Thanks,
Rachel
About Rebus Financial Recruitment
Rebus Financial Recruitment provides a specialist and focused recruitment service to its customers, ranging from various organisations, including SMEs, to large PLCs.We strive to offer both the client and candidate a seamless recruitment experience. Using our expertise, we understand employer and employee needs and match them perfectly.
To learn more, contact one of our team members today or call us at 01282 930930.
