Networking: No Longer a Dirty Word

When someone talks about networking, people tend to cringe. For example, you ask a co-worker how the industry reception was last night. She says, “Oh, great. Just worked the room, networked, you know.” Everyone looks down at their shoes and mumbles; somebody coughs. Why? Perhaps because of the inferences hidden in the word, which generally boils down to asking someone for something, such as a job, a promotion, or an introduction to someone you don’t know. Somehow, the concept manages to make people uncomfortable, in theory and in practice.

In reality, we all network every day, simply by talking to those around us, whether it’s saying hello to the people you see every day in your office or joining co-workers to get coffee at the deli or asking a colleague how you can help out on the new project. Networking is talking to other folks, and finding common ground and ways to help each other. Sounds simple, right?

In an article in the Wall Street Journal, Carol Hymowitz gives real-life examples about how women are helping each other succeed on their own terms by building their networks, both formally and informally. This article brought up the abundance of opportunities available to women in Wall Street firms to network and build relationships, both within their own companies and in the financial community at large.

For example, Citigroup offers Global Consumer Group division employees an online mentor-mentee matching program and its corporate employees have access to the Corporate Center Women’s Group, which sponsors events featuring internal women executives. Lehman Brothers employee networks include Women’s Initiatives Leading Lehman (WILL), which holds events featuring prominent women from across the business spectrum and gives their female employees opportunities to network and learn about others’ experiences. Morgan Stanley offers its female employees several development opportunities, including one-on-one mentoring, conferences with senior firm leaders, and women’s networking groups. Deutsche Bank sponsors the annual Women on Wall Street conference, offering inspiration and advice from a panel of all-star speakers as well as a networking reception before and after the evening conference.

Beyond in-house programs at investment banks, several non-profit organizations have formed with the specific goal of providing mentoring and networking opportunities for women in finance. Fr example, the powerhouse Financial Women’s Association (FWA) produces events year-round ranging from leadership-skills workshops to book signings to philanthropic efforts, all designed to help women grow and learn from each other. The FWA has affiliates in cities across the U.S. as well as abroad in Singapore and Quebec. Based in New York City, the Women’s Bond Club seeks to bring professional women together through events and community service projects. Similarly, 100 Women in Hedge Funds has groups in the U.S. Europe, and in Asia producing educational, professional development, and philanthropic events.

Hymowitz presents several other valuable suggestions in her article, including recruiting other women to your company and seeking a mentor to help build relationships and benefit from others’ experience. According to CareerWomen.com, 62% of women have formal or informal mentors who have helped with their development and career goals. If your company does not offer formalized options to find a mentor, read “The Women’s Guide to Finding a Mentor” for insights about the advantages of mentoring and tips on how to find the best match for you, or see the previous Glass Hammer post on finding a mentor, “Don’t be a Mini-Me: Finding Your Perfect Mentor Match.”