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Launch HN: The Lobby (YC W18) – 1-on-1 calls with company insiders to get hired

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Re: Launch HN: The Lobby (YC W18) – 1-on-1 calls with company insiders to get hired

#41

Post by dchhugani »

konschubert wrote: post #39

[Slightly off-topic] There are a lot of people here talking about how it is impossible to find a job at one of the top investment banks without any connections. Why do you need to have connections to land a job? Why aren't the best candidates filtered from the job application pipeline like it happens at all of the big tech companies? By requiring connections to get in, Investment Bankers are biasing their employee to…

Hey konschubert - understand what you're saying, but I'd strongly disagree that this is only a phenomenon in investment banking.

Roughly ~65% of hires for all Fortune 500 companies come from employee referrals, and top companies in all domains continually compensate existing employees with bonuses for helping hire their friends (because they know them well).

While it may be more prominent in some industries over others, connections matter everywhere. Instead of trying to change that reality, we're trying to find a solution that mimics parts of the magic that happens when your "insider" friend puts in a good word for you.

If someone on The Lobby thinks you're a good fit for the industry, we're aiming for their "Rating" to help you get some of that benefit you might get if a friend on the inside referred you and vouched for you.

Re: Launch HN: The Lobby (YC W18) – 1-on-1 calls with company insiders to get hired

#42

Post by benmanbs »

Just a quick note - your pricing page seems to have a mathematical error that would turn me off as prospective buyer. The "Standard" package offers three calls. The crossed out price ($190) should be equal to 3x the basic price ($60), or $180. Seeing sales pages with lies or mistakes around the savings makes me worry that I'm getting cheated.

Re: Launch HN: The Lobby (YC W18) – 1-on-1 calls with company insiders to get hired

#43

Post by dchhugani »

benmanbs wrote: post #42

Just a quick note - your pricing page seems to have a mathematical error that would turn me off as prospective buyer. The "Standard" package offers three calls. The crossed out price ($190) should be equal to 3x the basic price ($60), or $180. Seeing sales pages with lies or mistakes around the savings makes me worry that I'm getting cheated.

Hey benmanbs. Thanks for the kind words. We'll fix this, but this wasn't meant to be misleading.

It's actually more because not every call costs $60. For example, ~90% of our users buy calls that are in the $65-$70 range as one of their many calls.

We tried to convey that even in the 1 call option it's an "Average" price of $60, but we still haven't done a good job of conveying this.

Assuming you choose 3 calls that are more than $65 or $70, the number is actually even higher than $190, but we still discount it down to $170 no matter who the 3 insiders are, to entice you to buy multiple calls.

Hope this makes sense and will work on improving how this is communicated.

Re: Launch HN: The Lobby (YC W18) – 1-on-1 calls with company insiders to get hired

#44

Post by benmanbs »

dchhugani wrote: post #43
benmanbs wrote: post #42

Just a quick note - your pricing page seems to have a mathematical error that would turn me off as prospective buyer. The "Standard" package offers three calls. The crossed out price ($190) should be equal to 3x the basic price ($60), or $180. Seeing sales pages with lies or mistakes around the savings makes me worry that I'm getting cheated.

Hey benmanbs. Thanks for the kind words. We'll fix this, but this wasn't meant to be misleading. It's actually more because not every call costs $60. For example, ~90% of our users buy calls that are in the $65-$70 range as one of their many calls. We tried to convey that even in the 1 call option it's an "Average" price of $60, but we still haven't done a good job of conveying this. Assuming you choose 3 calls that…

Now that I've looked back, I noticed the "Average Price" bit. I understand the model now, and would definitely recommend making that a bit clearer.

Re: Launch HN: The Lobby (YC W18) – 1-on-1 calls with company insiders to get hired

#45

Post by dchhugani »

benmanbs wrote: post #44
dchhugani wrote: post #43

Earlier quoted context omitted.

Hey benmanbs. Thanks for the kind words. We'll fix this, but this wasn't meant to be misleading. It's actually more because not every call costs $60. For example, ~90% of our users buy calls that are in the $65-$70 range as one of their many calls. We tried to convey that even in the 1 call option it's an "Average" price of $60, but we still haven't done a good job of conveying this. Assuming you choose 3 calls that…

Now that I've looked back, I noticed the "Average Price" bit. I understand the model now, and would definitely recommend making that a bit clearer.

Will definitely make it clearer. Thanks for the candid feedback.

Re: Launch HN: The Lobby (YC W18) – 1-on-1 calls with company insiders to get hired

#46

Post by shermablanca »

Advice: tell this story! Create a video where you describe this same thing, and promote it on the right channels. You can even add production value by showing b-roll of specific points of your story, such as footage from on-campus recruiting. Perhaps include interviews/testimonials from those happy customers that you mentioned.

Your point about spending thousands on education while simultaneously having an aversion to paying recruiters is especially prescient. When presented in this manner, it’s likely an aha moment (was for me), and is probably going to improve conversion rates.

Stories sell, and you have a good one here.

Re: Launch HN: The Lobby (YC W18) – 1-on-1 calls with company insiders to get hired

#47

Post by dchhugani »

shermablanca wrote: post #46

Advice: tell this story! Create a video where you describe this same thing, and promote it on the right channels. You can even add production value by showing b-roll of specific points of your story, such as footage from on-campus recruiting. Perhaps include interviews/testimonials from those happy customers that you mentioned. Your point about spending thousands on education while simultaneously having an aversion t…

thanks! this is an amazing idea. I'm going to write down that you gave it to us and let you know when we do something about it :).

agree that we need to be much better at telling the story, because the idea itself without the story doesn't get the reception or the "aha" moment it seems most of our supporters get when they hear it from me.

thanks!

Re: Launch HN: The Lobby (YC W18) – 1-on-1 calls with company insiders to get hired

#48

Post by gringoDan »

konschubert wrote: post #39

[Slightly off-topic] There are a lot of people here talking about how it is impossible to find a job at one of the top investment banks without any connections. Why do you need to have connections to land a job? Why aren't the best candidates filtered from the job application pipeline like it happens at all of the big tech companies? By requiring connections to get in, Investment Bankers are biasing their employee to…

[Slightly sarcastic, but my opinion based on working in banking for a 3 month internship and then bailing to tech after graduating from college.]

At the lower levels, investment banking doesn't take much brainpower. Analysts spend 95% of the day: making PowerPoint slides, doing research online, or un-doing the changes they made the day before because the VP on the team didn't like the changes the Associate wanted.

The most interesting part of the job (financial modeling) can be learned in a couple of weeks. And then the Managing Director will just tell you what they want the model to spit out and you fudge the numbers to make it happen.

There aren't really 10x investment banking analysts like there are 10x engineers. In investment banking, once you know the basics of finance and get your foot in the door, the hiring becomes very behavioral. I've found that people want to hire other people they'd like to hang out with.

Re: Launch HN: The Lobby (YC W18) – 1-on-1 calls with company insiders to get hired

#49

Post by dchhugani »

gringoDan wrote: post #48
konschubert wrote: post #39

[Slightly off-topic] There are a lot of people here talking about how it is impossible to find a job at one of the top investment banks without any connections. Why do you need to have connections to land a job? Why aren't the best candidates filtered from the job application pipeline like it happens at all of the big tech companies? By requiring connections to get in, Investment Bankers are biasing their employee to…

[Slightly sarcastic, but my opinion based on working in banking for a 3 month internship and then bailing to tech after graduating from college.] At the lower levels, investment banking doesn't take much brainpower. Analysts spend 95% of the day: making PowerPoint slides, doing research online, or un-doing the changes they made the day before because the VP on the team didn't like the changes the Associate wanted. Th…

This is very insightful and perceptive, especially for just doing a 3 month internship. I agree with pretty much all of it.

However - you'll find most people hate IB for the same reasons, but also know their only way to more interesting roles like private equity, hedge funds, and more is to do investment banking first.

Engineering is no doubt more challenging in many respects; IB after a certain point becomes more about endurance, politics, and being good at repetition. But it's still a high-paying job, a gateway to other more interesting careers, and at least for me, a good way to develop a crazy disciplined work ethic.

I'm sure you can get many of those other ways too - just thought this was worth mentioning.

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