Cold Emailing/LinkedIn Messaging
I'm a non-diversity sophomore at a target school, and I want to cold email/LinkedIn message some regional IB boutiques for a summer internship. At this point, is it okay to directly enquire about internship opportunities? Or should I try to establish a relationship with them first by setting up informational phone calls? I've heard both sides from different people, and was hoping to settle on one strategy. And if I should go the informational phone call route first, do you have any advice on naturally guiding that conversation towards bringing up internship opportunities?
Hey man - good q. I had questions about this a lot also. You will get a lot of different viewpoints on this. So some boutiques have programs whereas others do not but you can still get do internships there (if it is very small boutique you prob won't do much tbh-you would honestly be better off studying for technicals and your junior year IB interview lol)-but that is just my take, if you want to put something on your resume yes try to.
I think best is to do this through informational interviews-know your story, why your interested in finance/IB, past experiences etc... Then just make it a convo, ask about their background, experiences, advice- I think you will tell by how the convo goes if you want to bring up internship opportunities or not.
You could even be straight in the email, saying i'm looking for opportunities to get experience in IB and would love to chat to hear about your experience etc...
Good luck.
Thanks so much for your advice. Would you mind critiquing my template? Mainly, I'm not sure if I should include my phone number, or if I should wait until I hear a positive response, or wait until they give me their phone number, etc. Anyway, here goes:
Dear First Name,
My name is xxx and I am currently a [year] at school studying [Major]. I am interested in learning more about investment banking and would love to speak to you about your experience in the industry. Do you have time for a quick call? My phone number is xxx-xxx-xxxx, and I am available during [dates, times]. Thank you.
Sincerely,
[My name]
In my opinion, I would go the informational interview route. It's easier to try get them to push you into an internship if you have some sort of rapport with them.
When going through these informational interviews, there will come a point when they'll tell you that you need to know x, y, and z to be successful. It'll usually be things like knowing statements, modeling, and industry knowledge. At that point, go on a tear about what you do know. Don't let the conversation become one sided where they are just giving you advice.
Last tip, if there doesn't appear to be any internship openings, don't be afraid to ask if there is anything small that you can help out with, on an unpaid basis. Any sort of experience you can get is gold.
Last tip... for reals. You have an opportunity to establish a long-term, multi year relationship with local firms... they all have connections to other banks. You'll learn that banking is smaller than it seems. If you don't want to eventually work at the local firm level, they can always help you contact the firms you do want to work at later on down the road.
What is the most successful way to cold email on LinkedIn? (Originally Posted: 08/03/2017)
Hello, Fellow Chimps!
I have recently begun applying for analyst positions in the Investment Management side and it seems that without prior experience (Internships) networking is the holy grail.
I really just wanted to know how you guys go about contacting people on LinkedIn. Do you contact anyone regardless of their position in the bank or do you only email hiring managers?
Maybe you could share any of your successful experiences when getting in touch with complete strangers.
Thanks in advance!
I have had above average success with this method (>35% response rate on completely cold messages):
Good luck
cold email advise (Originally Posted: 05/24/2017)
I know I am very late to the party but I am trying to find an unpaid summer internship before starting my MSF. I have made a pretty decent list of boutiques in my area with its respective MDs/Partners contact info and I was wondering if I should ask for the unpaid summer work in the cold email or go with the "Would you have some time this week for a quick call?" intro?
I am leaning more toward the later choice.
Any assistance is appreciated.
Thanks
Agreed on using the latter
Is it better to email or send a message on linkedin?
Definitely the latter, good luck.
Cold email advice*, remember to triple check your emails.
Also agree on the latter.
Cold E-mailing Boutique Banks HELP!!!!! (Originally Posted: 12/02/2016)
Hello Guys,
So I decided to cold email Boutique banks for off cycle internships. I found at least 25 boutique banks and the contacts of their MD's just to start with. I need help with how to format the email?
Since I am kinda late in the game, should I directly go for the internship and attached my resume and everything or just try to build a relationship and ask for an informational interview?? My goal is to land an off cycle internship for spring semester? What should be the subject line of the email?
I would greatly appreciate all of your response and thanks in Advance
There are plenty of cold email templates floating around this forum so with that said look at them and see what fits your style. Also, you should try LinkedIn and reach out directly asking for an informational interview (that's the way I landed my current position). Good luck!
I wrote a guide on this a while back, see below linked http://www.wallstreetoasis.com/forums/guide-cold-contacting-investment-…
To summarize, the goal of your cold emailing should be to book an informal meeting/call. Keep emails relevant and most importantly short- no longer than 3-4 lines and readable on a phone.
Stay away from bullshit works such as "hardworking/goal oriented" etc and try to customize every email as much as possible- include recent deal news with the firm etc.
Hope that helps.
Opinion on my cold email template? (Originally Posted: 02/21/2018)
Hello Mr. Smith,
My name is XXXXX, and I'm a real estate finance student at University of Alberta.
I found your profile via LinkedIn and I'm very interested in learning about your experience in [Specific CRE Area] and [Company Name] specifically.
Please let me know when/how best to reach you. It won't take any more than 15 minutes.
Best regards,
First Name Last Name University of Alberta '19 [HyperLink to my LinkedIn]
The last 3 lines are my signature so its automatic. I've been reaching out to a few professionals in Toronto, my goals from this are:
To get them on the phone for an informational interview. I live in a different city so unfortunately coffee meetings are not possible
Assuming the informational interview goes well, I want to follow up later for the possibility of a summer internship this upcoming summer.
What do you guys think of my cold email template?
make it slightly more tailored. What about their profile/company did you find interesting? How does this align with your goal. I know its annoying but imagine getting the same old messages.
I will try to do that, I've been including an extra sentence that's super tailored for them (ex: I saw that you started in a research role similar to mine, etc.).
I've been careful not to make the email too long, some other posts say to keep length down. Do you think I'd be fine adding a few sentences?
Ditch the my name is--it's in your signature. Tell him when you are graduating from your school.
Tell him you were on LinkedIn learning more about companies that are most interesting to you, and came across his profile. Then insert a sentence about what his company is actually interesting to you--make it unique, not generic.
Then say you understand the request might seem odd, but that you'd be grateful for a few minutes of his time, whether it be for an email with some questions about his firm or a brief call if more convenient for him.
You want to go to email and away from LinkedIn ASAP. Then go for a phone call.
These are direct emails already, trying to close for a phone call. Thanks, you think I'd be safe fleshing out the emails a few sentences? I'm worried about making them too long and fluffy.
For comparison, here is mine. I get about 33% response rate on the initial email, and it probably bumps up to 50% or so after the first follow up a week later.
I don't tailor mine at all and I get an excellent response rate. My strategy of short & sweet seems to be working well. I usually have to limit myself to 5 initial emails and 5 follow ups a day. I've found that on some days (usually Fridays) I'll get way more responses than normal and then I'm having to sit by the computer all day long crafting responses and trying to figure out my calendar. My suggestion is to send them around 8:00am as most people read/respond to emails first thing when they get to the office. I've found that I have a much worse response rate for emails that go out mid-morning/after lunch. Also, I know that attaching the resume is a controversial topic, but honestly people can read between the lines and probably have a pretty good idea of why you are contacting them.
Very nice, I like your template. I started using my template today and have 2/7 replies so far (sent out in the afternoon, so maybe more to come tomorrow?).
Will definitely try morning emails as well as sending more on Friday.
I think I'll begin to attach my resume, I am going for the job, and sure it MIGHT lead to a lower response rate, however, the quality of responses in terms of chance of internships will increase since they'll know that I'm going for the job.
Do you guys think any hyperkink or link in the email increases the chance of your email getting caught in the spam folder?
I was thinking this earlier. But then I came to the conclusion that if the hyperlink gets stuck in the spam folder, wouldn't the receiver be risking not receiving like 30% of his emails? What if a broker is sending you property info but then it gets caught in the spam folder because of his hyperlink?
Just an opinion with no backing though. Welcome to other thoughts on this
The template above seems pretty solid, however I was always weary of attaching my resume right off the bat. Typically I waited for the person to ask for my resume before I sent it, but that is just me.
Below is what I used and it worked extremely well in undergrad as far as response rates go.
Hi Name,
As a fellow [school mascot] looking to get into the real estate industry, I was wondering if you had some time to shed some light on your experience(s) at company.
I understand that this is a busy time for you, but I was hoping I could have 15 minutes of your time over the phone within the next week to learn about your experiences and expertise. I am more than happy to accommodate whatever time works best for your schedule.
Looking forward to hearing back from you.
Warm regards, Name [number] [linkedin hyperlink]
If you aren't reaching out to an alum (which I definitely recommend), I would change "as a fellow (school mascot)" to "as an undergrad".
I like yours too.
What did the interaction look like after? Cold Email > Informational Interview over Phone > Email for internship?
Yeah, in a way.
We would usually hop on the phone and talk about what they do/how they got there, then transition into what I want to. I would always make sure tell them I'm on the "internship search" or "search for full time when I graduate" so that they were aware of my situation. Saying this was a nice way of prompting them to talk about the opportunities at their firm. If it didn't prompt them to talk about it, I would then ask them in the call what their opportunities look like.
The biggest thing that helped me out wasn't being too pushy with asking for opportunities at their firm, but asking who else they recommend I speak to. You'd be surprised how fast your network grows and who you meet when you do this a few times.
A few times, when it felt right, I would ask them if they wanted to grab coffee as well.
Hope this helps.
I think you have a good starting point and you are definitely right to try and keep it as short and condensed as possible.
I agree with previous posters about ditching the "my name is xxx" part. However, I would recommend not including your resume right off the bat for a cold email. I was told by several senior level guys that it's a little too much too soon for a cold introduction and if they open it up before responding and see something they don't like, chances are they won't reply at all. It's better to just wait until they ask for it. If you really want to get your resume out there, you could attach it in follow up emails with the people that have already taken the time to talk with you and shown some interest. I think the LinkedIn hyperlink in the signature is a more subtle way to add background information. Just make sure your profile is as sharp as possible.
I've never had the time to keep track of response rates, however I did send close to 1,000 emails during my networking phase before breaking into IB. My standard email template was as follows:
"Hello xxx,
I am a current student at xxx studying xxx, who is interested in a career in xxx. I'm reaching out to see if you'd be willing to set up a time for us to connect for 10-15 minutes over the phone.
While recently researching the industry, I came across your profile and noticed (something tailored to their profile). I'd love the opportunity to introduce myself as well as learn more about you and (firm name and/or industry). Let me know if there is a time that works best for you over the next few days - my schedule is flexible.
Regards,
xxx"
This is art
I rarely make time to chat on the phone with cold email-ers. I have found it to be wasting my time with a lot of awkward, confused or clueless info calls. However, if someone has a few questions they can email me I almost always will reply. Just some food for thought.
Need my cold email reviewed (Originally Posted: 10/22/2017)
Hi guys, I'm an undergrad trying to secure a summer internship. I found a recruiter at Oliver Wyman through LinkedIn, and found the firm's email format elsewhere online. I proceeded to email him this:
Dear _name___, I am a sophomore at Rutgers University, currently studying Industrial Engineering in the Honors Academy. I am writing to you because I am strongly considering consulting as a career path upon graduation, and I would like to gain legitimate industry experience through an internship during the summer of 2018. Oliver Wyman specifically seems to be the ideal place to cultivate experience, as research has taught me that it is a prestigious, successful firm - furthermore, the culture clearly promotes free thinking through the lack of hierarchal structure. The value placed on energetic and passionate employees is also definitely an attracting factor, as I feel that I embody both traits. Genuinely, I believe that I could thrive in such a learning environment, and that I would be able to gain valuable, applicable skills from an internship at Oliver Wyman.
Personally, I am a good student, with a strong quantitative background. This, coupled with my exceptional interpersonal skills, makes me confident that I can find success in a professional environment. Attached is my resume - please let me know about any further steps I should take, and about any opportunities to meet in person, perhaps to tour a location, or to interview. Thank you in advance.
Respectfully, _ my_name____
What do you guys think? I'm obviously one of the more inexperienced users, so rip me apart if necessary. Also any general internship advice would be greatly appreciated.
.
The OW campus recruiters are going to be pretty prioritized with their target school candidates and likely will ignore your email. You're better off reaching out to people who work at OW (find something in common if possible: Rutgers alumni, same major, same city/state) for an informational interview.
When sending any cold email regardless, you should keep it pretty short. There are a lot of guides on this site but in general, keep it to 2-3 paragraphs with 2-3 sentences each, max. Give a quick intro of who you are, move on to why you want to speak with that specific person, and then you can offer a few different times over the next 2 weeks that you can speak. You definitely don't have to be that formal either.
Got it. The recruiter I emailed actually is a Rutgers alum. Thanks for the advice!
I don't think it's a bad starting point. (I'm not an expert, basically regurgitating advice I got from somebody I trust, because my first cold email drafts looked exactly like this)
Avoid referencing the firm's prestige directly. If you want to stroke egos, the other things you mentioned about the company should suffice.
You need to tell a little more about yourself. Just 2 or 3 things to catch the eye, and emphasize how you can contribute. What makes up your strong quantitative background? Can you write code, run a regression, or can you write formal proofs? Do you have high standardized test scores? Did you draw up models in excel for a class? Anything specific - brands, names, scores, etc. - is a good thing.
Additional note: 'lack of hierarchical structure' sounds like you're calling out management, even though I know what you're saying. Change it to a positive instead of a 'lack' - something like how they entrust additional responsibilities to the analysts is going to be better.
Understood - thanks for the response.
Will it sound juvenile if I list my standardized test scores? I got a 2300 SAT (1580/1600 CR + Math) and a 35 ACT, so I would be more than happy to share that, lmao. How can I phrase it appropriately?
way too long, I would never read all of that from some kid cold emailing me during a work day.
Cold emailing boutiques (Originally Posted: 10/12/2012)
I need to cold email boutiques for an internship next summer and have no alumni contacts. I'm looking to get an internship with a boutique and all I typically see on the websites is the general hr contact info. However, people here say that asking contacts for informational interviews is better than just sending your resume out and asking for an internship. How am I supposed to get around this and actually contact non-hr personnel to network effectively? Also, since I'm interested in equity research, would it be appropriate to send analysts emails from the email addresses they provide in equity research reports?
Look on LinkedIn
Worry about asking for internships in 2013. While I got my internship through cold calling this past summer, I would encourage you (at this stage in the game) to focus on building relationships. It's infinitely easier to establish genuine relationships with people you are introduced to. The only cold emails that I have sent out that have been effective as far as building a network were people that had some relation to me (college alumnus, highschool alumnus, etc.).
Try to find some mentors and take it from there.
just cold email a regional boutique. I did it, it works. Just have a solid resume, and much better if you can email someone who was an alum. If you see no alum, apply through the career email or hr email. it works if theyre looking and again, if your experiences are solid.
Think outside the box please, if you see an alum in the office you want to apply to than just use the email format and email him directly. its not rocket science.
Content of Cold Email to Small IB and PWM firms (Originally Posted: 04/29/2015)
Hello fellow monkeys,
I am a freshman at a target school trying to secure an unpaid internship at either a small IB or PWM firm in Texas. I wanted to know what the content of my email should be. I was also wondering whether I should attach a cover letter along with my resume, and what would be a good subject line. Finally, is it ok to say "unpaid internship" or should I say something like "unpaid work experience (or help)"?
Thank you all so much.
No cover letter. And not 100% sold on the resume either to be honest (doubt there is anything there which is compelling - no offense). I'd say at this stage, your best bet is to ask for a coffee. Your best asset is your enthusiasm and interest. There is very low probability that someone considers a freshman. Plus at smaller shops, fit is huge - one person can dramatically change culture, so they will want to meet you before even considering letting you into their office.
Nothing personal, but hiring a freshman (or anyone new to be honest) reduces capacity rather than increasing it. Harder to teach you than do it ourselves. The only way this story works is if they are looking at you long term and feel like investing in you will be worthwhile. This is why people typically look for FT analysts closer to graduation (rising senior internships).
However, showing someone you are interested this early in the game can be very compelling. Don't let the above comments dissuade you from trying.
Is Asking For Info Interviews A Must When Cold-Emailing Banks? (Originally Posted: 12/01/2010)
OK, so basically I'm at a non-target and my parents want me to work next term, so I've scheduled my classes in a way that I have 8 hours of class on 2 days and then can work for 2 of the remaining 5 days. I initially contacted boutique banks in my area for a summer gig, but I'm now considering asking for a 2 day a week internship during the quarter at these banks. Since all of these are in my area, is it cool to just directly say, "hey, I'm looking for a PE/IB gig during the school year, do you have it", or is it necessary to ask for info interviews during my upcoming winter break and then ease into it? The problem is, I need to know very quickly (otherwise, I'll have to take up a retail job) if they have something, which is why I'm leaning toward being direct, but since my resume isn't amazing, I'm wondering if I need to ease into it. Any advice? Also, if anyone wants to take a look at the potential email I'm going to send them and help me figure out what to do, please PM me, and I'll hopefully be able to send something by Friday/Sat morning.
Thanks a lot!
post the email. to some extent SHOW UP at the offices for some more information, second time around ask for an interview... this is a wild card, but you never know these days... some of the people in this industry are very traditional.
bump* I'm also curious to any responses.
If you are in a time crunch, I think it is best to just be direct. At least this is what I did with successful results. I quit my fulltime job in July and wanted an internship before my master’s program started in the fall, so I didn’t have any time to build relationships. I pretty much just emailed people directly asking if they could accommodate. Within 2 weeks of sending emails I had a few offers from local boutiques. I was probably somewhat lucky though...
M&I has articles on this... please read them
I have reviewed that site extensively. I just want to see what WSO thinks since I'm in a bit of a time crunch and probably don't have much time to BS around.
K fuggit, I'm just going to post my potential letter. Tear it apart viciously:
"Dear So and So
My name is xxx, I am a student at non-target and have recently become interested in the investment banking and private equity industry. During this summer I interned at xxx in xxx, country. Here, I worked in a support role and created research reports about private equity firms and helped management decide whether or not its worth contacting them in the future for business based on the company's strategy, personnel, growth, etc.
This was my first exposure to the banking and private equity industries and I started to read more about DCF analysis, LBO modeling and realized that this is where my true interest lies. Although I learned a lot from the support role, I realize that I belong in a more client-facing role in these transactions, which your firm will allow me to do.
This term, I will be free to work in XXX on Thursdays and Fridays and was wondering if your firm has room for an unpaid intern with a passion for finance that will make everyone's lives easier. I know that I cannot be handed a lot of responsibility immediately, but if there is some way that I can gain exposure to what it means to be on a live deal, construct a financial model and gain practical working experience, then please contact me at XXX at your earliest convenience. If you need to discuss my qualifications further, I will be back in town from the 9th of December onward and can send you my resume if such an opportunity exists.
Thank you for your time and consideration.
-XXX"
If you're in the time crunch as you have admitted, and have read M&I then you should have your answer... you should always be trying to get informational/face to face sit downs...
A Note on Cold E-mails (Originally Posted: 02/06/2014)
Hey prospective monkeys,
As you guys start sending out your cold e-mails for networking/internship requests, remember to double-check what you're sending out for spelling and grammar errors. Don't give any of us a reason to ignore your e-mails.
Also, please attach your resume.
Best of luck!
Totally agree with Grand Berry about proofreading. Don't use slang and double-check the email. Send it to a friend to make sure there are no mistakes.
What's got you stressed? It was a genuine reminder. Half of all the requests I get aren't proofread. I went through the same mistakes when I was recruiting and just don't want someone else to get dinged because of something that small. Proofreading is a big part of the job though, bud.
thanks man, I will be sure to attach the resume from now on
Seriously dude you sent around emails with words spelled incorrectly and grammer mistakes?
Regardless your post sounded like a new analyst with a little time under his belt 'bestowing' wisdom. Probably was the don't give 'us' a reason to ignore your email line.
I don't really agree with attaching resume... It seems a little too pushy for me; you're trying to make a new friend (or at least this is how I approached networking), not a resume pusher.
I guess that was more geared towards those seeking internship opportunities as opposed to just networking. I keep a folder of e-mails I get regarding internships that I'll dip into if our firm is looking for interns.
For just networking, you're right.
This may sound like common sense, but in actuality is good advice. I've looked back on emails I sent sophomore year, and I definitely made some mistakes. As my email quality got better the response rate got higher as well.
attach resume or not - everyone knows you're trying to network so might as well make my life easier by giving me resume. I may be old school but I just find the social network stalking strange.
If its an alum DO NOT attach resume unless asked.
Also the other reason not to attach resume is a practical one, it may get caught in spam - that is my tip to you guys
Yes or no? i'm confused
My preference is that you do if you're directly asking for internship openings. If you're asking for a casual meetup (making friends like kidflash was saying), probably not although it could give us some talking points if we were from the same school, fraternity, etc...
Always double check to make sure you actually attached a document if you mentioned you were attaching one...
If you don't attach your resume, there's a really good chance I won't reply unless I'm in a particularly good mood.
Cold-emailing is already aggressive - I know what you want, so you may well go balls in. Yea, there are some subtle rules (ie: "Give me a job" vs "I'm looking to hear more about your position") that are important, and yea, I'll probably reply if you're a friend of a friend.
Unfortunately, most people, and perhaps an even higher percentage of the really aggressive ones, really don't have a resume that is worth pushing. So sure, don't attach it if it sucks, but if it's even half-decent, it'd be nice to know that I'm helping someone who actually has a fighting chance.
I would definitely to hear more views on whether or not to attach a resume when first reaching out (and does it differ depending on whether we are contacting an analyst, VP, MD, etc.?)
I do think that my resume is half-decent and generally contributes positively, but in the past I've talked to alum who said that attaching it on the first email is too aggressive. Would anyone here reply to a cold-emailer whose email was free of error and non-generic, but decline to reply to the same cold-emailer if he or she attached their resume?
why network with an analyst anyway? I do recruiting and not to be mean or anything, I ignore most of the requests for networking FYI ... just too busy. I don't ignore alumni requests however.
Some firms have analysts participate in superdays and play a big role in the hiring process. Meaning if the analysts don't like you, you probably won't get an offer.
Additionally, these guys are going to be a major part of your network as you advance further into your career.
We have analysts at superdays and while their input is certainly used, they're easily overruled. And at deliberations, analysts arnt invited. I just get a pack of their views and not all analysts are created equal. Also, I may send an analyst in my place if I trust his judgment. Pt is - go to the top - more upside ... just saying
Makes sense. Obviously if the vp or associate doesn't like you, you won't get an offer. However, I think they would reconsider taking on a new analyst that was badly reviewed by the current ones. The role of analysts in recruiting probably varies too much between firms and individuals themselves to make a blanket statement.
@"Grand Berry" What a douchey move
You probably should have approached the conversation more tactfully if you're looking for an internship. Not grill me for my location and go on strange tangents about RBC..
Anyways, you're a vp, so I should be the one reaching out to you.
I have a pretty different take on cold emails than the experienced guys who have posted here so I'll outline how I go about things.
General: - I do my best to respond to every cold email I receive. ( for reference I usually get about two or three a week) - I understand how the game works so I don't really care if it's a standard cold email format - As long as there aren't any egregious errors I don't particularly care about grammatical problems (We're all human) - I don't particularly care if you attach your resume or not - I don't care where you went to school. However, I may be more flexible in scheduling a call if you go to my alma mater, etc.
Scheduling the Call: - In my response to the cold email I will respond by saying "let me know a few days that would work for you." Respond with three or four actual dates that work well for you. I'll pick one of those days and give you a couple times to choose from. Pick one and call me at that time.
On the Call: - The quality of your questions and/or whether you're able to turn the phone call from a game of 20 Questions to an actual conversation is going to determine whether or not I keep in touch with you or not. - I don't particularly care either way, but I used to thank the person for taking the time to speak with me at the beginning of the call and again at the end. I always got really good feedback about taking the time to say that to the person.
Following up: - I've had people tell me to send a hand written thank you note, others tell me just to send a short email and others tell me it doesn't matter. I personally don't care and it wouldn't bother me that a kid didn't send something, but if you choose to send a note/email make sure it is short and try to mention something specific from the conversation. Examples would be a specific company we talked about or something we had in common. - If we talked about XYZ stock and a few weeks later you find an article, etc on the stock it doesn't hurt to send it my way. Don't expect a reply, but there's a good chance that if it's good I'll remember and it'll show that you actually have an interest in the market and you weren't just bull shitting for the purposes of the phone call.
I'm much more worried substance than style which may be significantly different from most others you would be trying to network with, I don't know. Obviously it's best to have both, but don't sacrifice quality questions and being prepared for the call/informed for the sake of having a grammatically sound email.
Thanks for the advice @"Simple As...". SB'd you :)
I laud your flexibility in making time for prospectives - I am not as altruistic. I would say this one thing, if you email me and I don't respond, probably means I am busy. I will get around to it if I want to. Sending me 20+ reminders is not cool and if you do that, I will then make sure you get dinged / blackballed - just shows bad judgment
If I was in banking I probably wouldn't have the time or the desire to make the time so I don't blame you. And a lot of the calls are unintentionally hilarious so I can usually count on them for a good laugh. Plus, I'm a non-target kid so I had to hustle pretty hard to get a shot and told myself when I was going through the process that I would pay it forward.
One reminder / follow up a week later and nothing more is what I always did. To preempt these things I'll usually send a quick reply that says to get back with me in a month, etc.
How to Cold-Email Step-by-Step as an Undergrad (Originally Posted: 12/13/2017)
I don't mean to beat this topic to death, but I wrote out a long PM to someone who asked for advice, and I figured others could benefit. So I'm sharing my step-by-step guide to networking for those of you don't know how to start.
I started networking by just emailing alumni from my school. FULL DISCLAIMER: I don't think I was the best networker - I would have good convos where they wouldn't offer to refer my resume immediately and I would just let it go. You would probably benefit from gently asking for a referral it up in these cases. Regardless, these steps should be useful to some:
The process went like this:
Make a Spreadsheet / Gather Contacts Make an excel spreadsheet, with columns for: name / group / firm / email / date of first email / follow up date 1 / follow up date 2. If someone responded, I would move them to a new tab on the spreadsheet to better keep track of everyone.
I found contacts by toying with google searches like this: ' site:linkedin.com "investment banking analyst" (my university)'. You can also try replacing 'analyst' with 'associate', 'managing director', etc. After gathering up contacts I went through and basically guessed their email formats by googling, for example, "JPMorgan email format" - there's lots of old WSO threads on this stuff so guessing emails isn't so hard, i.e. [email protected] is John Smith at Goldman Sachs. Leave no stone unturned in your searching.
In my experience the senior people (VP+) were the ones that had enough clout to get me the interviews, so keep that in mind. Analysts are helpful for information, but won't always be able to get you interviews.
Send Emails Send out emails. Mine looked like this but went through multiple iterations / edits so my emails were always changing slightly. I tried to find a "hook" or something that made me not just someone asking for help, whether it was where they went to Grad school, their industry / product group, etc., whatever works. This was an email to a senior banker at a firm that eventually agreed to speak with me on the phone. I was a summer intern at the time of this email. I removed personal info:
"Hi X,
My name is (name) and I am a (year) undergraduate at (university). I am currently a summer analyst at a X, but I will be pursuing a career in banking upon graduation. I have a strong interest in working in (your group) specifically, which is why I'm reaching out.
I'd appreciate speaking with you and asking some questions about your career after (university), your (group), and (firm). I am generally available between X to X, and in evenings after X. I have attached my resume for your reference.
Thanks so much for your time, I look forward to hearing back from you.
Regards, name"
I would try to set a goal of like 10 emails per day or something like that. I would also keep track of what date I sent them the first message so I could follow up 1-week later, and then 2-weeks after that for the last message. A decent amount of your emails might bounce back (if you guess the wrong email), but that's alright, you can try to fix them later.
Informational Calls Talking to them on the phone. Start off explaining your background and interest in IB but do it relatively quickly so you don't bore them, and tie it into their background / focus. I eventually made a document of questions, here are a few I would ask, but also come up with specific questions about their background, etc. Try to come up with your own questions that you wouldn't just be able to google yourself, and try to come up with questions you actually are interested in knowing.
What does your average day look like? How are groups structured at XXX, and how large is your specific group? How do you interact with analysts / associates on your team? How does an analyst come in to a product / deal team with little to no banking experience and add value in their first day or week? What makes a good analyst? Lastly: What advice would you give to someone in my position looking for a full time offer in banking space X months from now?
Wrapping up Then you follow up and shit. Just try whatever works. Making the beginning casual and being comfortable helps, and sometimes if you just have a casual convo the whole time they might like you and you can avoid all the boring questions. You might want to strategize and directly ask for assistance at the end of a call, like "would you mind referring my resume from HR?" but put better. Suggesting grabbing coffee, etc. when you're in town also works.
That's it. Get after it, you just need to network and you'll see how it works pretty quickly. All the people you'll be speaking with have probably done this before, so make it more conversational and interesting for their sake.
Hey ballhard223, I'm the WSO Monkey Bot and I'm here since nobody responded to your thread! Bummer...could just be time of day or unlucky (or the question/topci is too vague or too specific). Maybe one of these topics will help:
No promises, but sometimes if we mention a user, they will share their wisdom: ianlkh1 ValueBanker14 the magnum
Fingers crossed that one of those helps you.
Need a review of my cold email (Originally Posted: 10/22/2017)
Hi guys, I'm an undergrad trying to secure a summer internship. I found a recruiter at Oliver Wyman through LinkedIn, and found the firm's email format elsewhere online. I proceeded to email him this:
Dear _name___, I am a sophomore at Rutgers University, currently studying Industrial Engineering in the Honors Academy. I am writing to you because I am strongly considering consulting as a career path upon graduation, and I would like to gain legitimate industry experience through an internship during the summer of 2018. Oliver Wyman specifically seems to be the ideal place to cultivate experience, as research has taught me that it is a prestigious, successful firm - furthermore, the culture clearly promotes free thinking through the lack of hierarchal structure. The value placed on energetic and passionate employees is also definitely an attracting factor, as I feel that I embody both traits. Genuinely, I believe that I could thrive in such a learning environment, and that I would be able to gain valuable, applicable skills from an internship at Oliver Wyman.
Personally, I am a good student, with a strong quantitative background. This, coupled with my exceptional interpersonal skills, makes me confident that I can find success in a professional environment. Attached is my resume - please let me know about any further steps I should take, and about any opportunities to meet in person, perhaps to tour a location, or to interview. Thank you in advance.
Respectfully, _ my_name____
What do you guys think? I'm obviously one of the more inexperienced users, so rip me apart if necessary. Also any general internship advice would be greatly appreciated.
Hi comsi_comsa, just trying to help:
More suggestions...
You're welcome.
Cold e-mailing small boutiques (Originally Posted: 02/24/2011)
I'd like to work at a small boutique in my small state, but I have no prior experience/internships in IB (graduating undergrad this semester), nor am I an Accounting/Finance major. I have run through programs like WST or Rosenbaum's book to get a sense of the methods.
Is this even worth a shot? I do have a competitive gpa and educational background, but again, am lacking in internship and general investment industry experience.
I'm in a similar situation, also interested.
Non-econ/finance/account majors get in all the time.
Network and stay determined.
It is always worth a shot. If you want to do something why would you not do it?
It is definitely possible - and even without the relevant major, if you have a good GPA from a good school AND have the knowledge from a solid training program, you will be in good shape. Your key will be in crafting a good letter of inquiry and reaching out to the right contacts. This article will definitely help you on your path. PM me if you have additional questions.
keep in mind they have to teach you everything you don't know. why not hire the finance guy with the same interest, but they don't have to teach?
if you have a good gpa it signals you can learn fast so that might help. you might actually want to use those brains to study fast and keep up-to-scratch to compete with the finance and accounting majors.
ps imho if you go to Rosenbaums book, even though it's good, but without any finance/accounting knowledge, you might lose your interest very quickly and be like wtf-is-going-on very often.
if you're really interested, definitely go for it.
How would you go about cold-emailing?
Do you be direct, inquiring if there's any junior positions available?
Or do you have to meet with them for a cup of coffee to ask about their experiences, and then close the deal to ask for an interview?
Cold email (Originally Posted: 02/23/2012)
Hello,
I am starting to target boutiques for a summer internship. I had a few questions about cold emailing and calling.
When emailing firms for an internship would it be inappropriate to send my cover letter and resume as an attachment or should I wait for them to ask for it?
Who would be the best person to target in a company (MD, VP, etc...) abt an internship?
When would be the best time to inquire about a summer internship?
Thank you.
Also interested in this, but based on my research, calling is far more powerful. Also based on my research, starting ASAP (aka right now) is the way to go.
Just my experience,
I cold emailed looking for my first ever finance-based work experience with fund managers in the Toronto area a few summers ago. I was primarily interested in equity research. I sent out 20 emails and landed one summer gig, so a 1/20 conversion rate!
I basically emailed the top guys, these were small funds (AUM 4/500 million) with the following information:
1) why I liked their particular fund.....i.e. I'm a long-only value guy I like your investment philosophy 2) my background, current university and year 3) attached CV and cover letter 4) I also attached a DCF model I built just to show that I could do something somewhat related to the job
Hope this helps and best of luck!
Sorry I forgot to add, in all of my emails I would always follow up with "thank you for your time, I will call to discuss further details/follow up with you." This generates a lot more responses as they know you will call so they either reply rejecting you right away or they expect your call.
Cold Email Review (Originally Posted: 07/02/2013)
Hey guys, I'm trying to get a PWM internship this fall semester. I'm about to start cold emailing some local places. I have two different templates.
I'd appreciate to hear everyones opinions on how I can improve them or which one is better.
TEMPLATE #1
Hello,
My name is XXXX and I am a sophomore Finance Major at the XXXXX. I am very interested in receiving as much real-world experience in the Wealth Management field before I graduate and I am writing to express interest in a college internship during the fall semester.
An internship at your Columbia branch would be a valuable stepping-stone for me in terms of my career goals as well as an opportunity for me to develop important industry skills.
I hope to hear back from you on the possibility of an internship during the fall semester and I have attached my resume as a brief background.
Regards,
XXXXXX
TEMPLATE #2
Hello,
I am writing to express my interest in a college internship this fall at your XXXXXX location. My name is XXXXX and I am in my sophomore year as a Finance Major at the XXXXX.
I am extremely interested in receiving real-world experience in the Wealth Management and Investment Banking industry and I know that XXXXXX. would be a stepping-stone for my career. XXXXX would be a valuable opportunity for me to see what happens behind the scenes in the industry as well as receive real world experience. I would be placing myself in a position to succeed in the future and I know that I will be able to bring a strong work ethic as well as a desire to succeed to the firm.
I hope to hear back from you on the possibility of an internship during the fall semester and as well as an email where I can forward my resume.
Regards,
John Kirby
troll,
don't just put what you will get out of the internship. Make sure you make apparent of what THEY will get from bringing you aboard. Luckily for you, a monkey can get a PWM internship with ease, but for the future, make sure you remember the YOU viewpoint.
An internship at your Columbia branch would be a valuable stepping-stone for me in terms of my career goals. I am very motivated and I am really eager to get a head start through an internship and I will bring to the firm a strong problem solving skill and a willingness to adapt and remain flexible. I know that it would be mutually beneficial opportunity for XXXX and myself.
Better for the 2nd paragraph?
Things I like about template #1: -Introduces yourself first as opposed to instantly asking for a job -Resume is already attached for review
Things I like about template #2 -More depth concerning WHY you're interested
General Notes: -Talk more about how you will add value to the company, not just how that company will be a sweet resume line -Recruiters get literally thousands of these. Make it simple yet significant.
Best of luck
About to start cold emailing/cold calling (Originally Posted: 12/30/2012)
Hi guys, I am a Freshman about to start cold calling/emailing at MM firms and Boutiques firms in my city. I am just wondering how to go about this, my present goal is to get an internship this summer.
Should I straight up email saying "I am interested in this industry, might your firm have an internship I could do?", or would it be more appropriate to ask them some questions first just basic questions about what they do or don't like, what exactly they do, etc. then after some discussion hope they bring up possible internships.
Basically, I am sort of uncomfortable being so direct in asking for internships and a little assurance would be awesome.
Thanks for your help!
Also looking for a good template, especially for students with no prior experience.
Here you guys go-
Dear Mr/Ms. Xssss
My name is xxxx xxxxx and I am a first year student at xxxx College. I am beginning to look into opportunities for the summer, and I am very interested in a summer internship position in the financial services industry. I was hoping it would be possible to speak with you to learn more about your experience with xxxxx firm and get your advice on pursuing opportunities for the summer. Thank you so much for your time, and I look forward to hearing from you.
Best, XXXXX
I would never really ask someone for an internship. The closest I have ever come to that is emailing someone after I've applied and telling them that I have applied.
Cold Email (Originally Posted: 12/02/2013)
Dear XXX ,
I am an undergraduate at the XXX studying finance at the XXX School of Business. In reading your careers website, the description for the open analyst intern position at your firm caught my attention. After some research, I have concluded that my experience and personality would be a good fit for this position and the culture at XXXXX.; as such, please consider my application to join your firm as an intern.
It became immediately obvious to me that XXXXX is highly competitive and results-driven. While I was working as an Wall Street Oasis campus representative tasked with generating new business leads, I was motivated by competition from other representatives striving to promote the online finance and banking community to various universities. I also appreciate the importance of accuracy and attention to detail in the work done at your firm, and feel well-prepared to add value from day one.
Please allow me to attach a resume in support of my application as you consider candidates for this position. Let me know if you're interested in an intern to make everyone's life easier. Unpaid, immediate availability. Thank you, and I look forward to an opportunity to speak with you soon.
Regards, Atm93 Phone: XXX Email: XXX
Do you guys think think this is an appropriate cold email. What needs to be improved? What needs to be taken out? I'd really appreciate if I could get some feedback. I'm trying to land an internship this summer with a small boutique. Thanks.
Too long. Push for a phone call.
Too long. Lost my interest after the first paragraph
What you just posted is your cover letter.
A cold email should be ~3 sentences (something I could comfortably read in line at Starbucks on my Blackberry) and ask for a phone call or coffee chat. Not an internship.
It's too long. A cold email should be at most 2 paragraphs, 3-5 sentences each. Your audience is people who most likely receive a high volume of similar emails everyday, so keep it precise is what I would recommend.
My rule as well. 2 paragraphs (3-5 sentences). 2nd paragraph should include request for phone call. no need to attach resume at first probably, but that's a personal choice some people make and have success with.
Allow you to attach a resume? unpaid?
Work on that last paragraph.
Yeah I thought it was too long. So I need to keep in short and just ask for coffee?
Pretty weird to say unpaid if it's a position they've posted on their careers website like you indicated in the 2nd sentence. If you want to attach your resume, just say I've attached my resume for your consideration. Too long
you're not writing a novel. intro, how you found them, what you're interested in, make the ask (5-6 sentences). Wham bam thank you mam.
I borrowed the one below let me know what you guys think.
"My name is XXX. I am a rising junior finance student currently studying at the University of Non-Targets with a very high interest in pursuing a career in investment management, with a particular focus on the equity market and research.
I understand that you're a busy man, but I was hoping I could have 15 minutes of your time over the phone sometime within the next week to speak with you about your experience in the investment industry, as well as any advice you may have for someone hoping to succeed in this field. I am more than happy to accomodate whatever time works best with your schedule.
Regards, atm93"
Would change to, "I understand that you're very busy, but I was hoping...." Other than that, looks good.
Format:
Hi Bill,
I'm a student at Harvard and found you through a mutual contact we have. Do you have any time this week to chat briefly about your firm, group and investment banking on the whole? Please let me know some days that could work for you and I'll propose a few times that suit - I'm very flexible.
Thanks for the time.
Best, Booger
Ea saepe placeat odio excepturi. Tenetur hic dolore molestias laborum ea. Est earum voluptates mollitia sit ut voluptatum incidunt ut. Voluptate eum illum incidunt officiis nam eum. Sed exercitationem omnis quia impedit. Non veritatis est nemo in. Veritatis a quis suscipit quia.
Rem nobis quia veniam iure totam harum quod. Veritatis ad placeat qui. Laboriosam maiores sit laboriosam exercitationem esse. Consequatur mollitia dolor qui dolores saepe.
In enim non voluptate velit debitis assumenda doloribus. Impedit iure molestiae nisi necessitatibus modi pariatur perferendis. Veniam tempora exercitationem quod. Perspiciatis voluptas tempore distinctio voluptatibus consequatur et odio.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Eos sed sunt nihil. Praesentium deleniti sit ratione non earum architecto eum quia. Possimus natus aut accusantium. Saepe nesciunt tempore sit. Tenetur nulla omnis quos aspernatur animi ab. Quam fugit culpa cum qui quas.
Et sed sed libero eaque. Vero facere quisquam necessitatibus aperiam doloribus error magni. Illo expedita illum minus at cum at. Voluptas sint minus temporibus omnis.
Ipsam consequatur illum et voluptates dolores ut aspernatur. Sed quibusdam aut quasi. Delectus non ut at veritatis. Est deleniti voluptas eius ut. Dolorem qui aut nulla qui enim aut aperiam illum. Debitis provident consequatur quod nesciunt aut hic. Cupiditate ex aut vel non fugiat tempore eius. Possimus enim fugit unde sed iste reiciendis recusandae vero.
Illo ipsa a rerum ut voluptatem autem distinctio. Ut id ipsa aliquam laboriosam architecto. Sunt esse eligendi maxime similique vitae qui. Odio est aut perspiciatis ea repudiandae cupiditate sapiente. Est sunt vel qui. Itaque ratione et illum ab eum. In natus cumque voluptatem consequatur.
Atque quia vel ut est quas quam. Sit non quibusdam possimus facere expedita laudantium. A impedit et et ut quia amet est est.
Et vitae nulla et quod eum quibusdam animi quibusdam. Ipsum impedit assumenda et eos voluptatem totam. Rerum optio hic sunt magnam.
Ea et doloremque sit facilis velit fuga doloribus voluptatum. Est qui sit animi nulla amet. Consequuntur veniam accusamus veritatis non est quasi. Et sit vitae est autem assumenda commodi nihil rem. Autem quam aut voluptatem sed architecto.
Voluptatem cupiditate vitae exercitationem. Magni quo est aperiam et. Asperiores possimus eaque et sit et voluptatem.
Qui tempore laudantium omnis quia maxime eveniet. Impedit voluptatem corrupti in sed earum iure ut. Illo at neque similique rerum earum. Libero facere provident dicta dolores qui magni tempora. Fuga fugiat minima sint.
Quia commodi veniam qui. Quas molestiae eveniet quidem repellendus quibusdam numquam.
Et delectus harum qui velit sit accusantium. Dolores eos dolores quibusdam in. Id iure deserunt beatae dolores expedita.
Quia aut non consequatur commodi. Quo vel sed sit qui asperiores. Recusandae modi dignissimos explicabo odit. Earum numquam blanditiis incidunt. Voluptatem eum itaque iusto officiis ab nihil consequatur. Autem quam doloremque mollitia dolor.
Mollitia deserunt aliquid architecto commodi consequatur ut. Iusto nobis qui et aut. Corporis non fuga quae. Vitae atque vel quia in rerum hic voluptatum voluptatem. Cum placeat et voluptatum sunt. Voluptas commodi corrupti dicta sequi distinctio voluptas mollitia.
Ullam id eum repudiandae est nostrum nobis. Excepturi ut rem qui nihil. Tempora non est quia ut. Et qui consequatur omnis corrupti dicta non.
Tempora dolor ut qui mollitia excepturi aspernatur consectetur. Voluptatem ut saepe in. Commodi illo omnis tempore dignissimos. Atque eligendi voluptates sunt et ut quo deleniti possimus. Quo id id nihil vel et labore quis. Suscipit sunt iure optio omnis.