Best Way To Cold Email as a Gap-Year Student?
Hi everyone,
Looking to learn how best to cold email as a gap year student more effectively (UK-Based).
I am aiming for a summer internship in 2024 ideally, but would also be open to even just an experience (like an opportunity to just shadow).
Currently have reached out to: local boutique CorpFin firms, local PE houses, London-based specialist/boutique investment banks + boutique asset managers.
I have probably sent c. 120 now and I've gotten 1 interview to date, which I did not convert (told it was a close call; a silver lining at least). Though, I have recently attended a work experience with an accountancy shop since sending my last cold email, and I hope this will improve my chances going foward along with any advice under this post.
My Approach is as concise as possible (3 sentences), and consists of the following... :
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A brief intro of where I'm at (like relevant A-Levels I did);
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My plans for the future (course/field of interest);
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Prior experience I have + link to my desire of developing this with a longer internship.
I largely direct emails at HR of small firms to see if there is actually anything available. I think this may be where I am going wrong. I feel that I won't be given the time of day when finding individual's emails; and that it asks a lot of them. Anecdotally, I haven't even been responded to when I have tried to reach out to what little alumni I have in these sectors, but given the small number of alumni I emailed it might make sense.
Would love to hear you guys' thoughts - thank you!
Nobody's reading all that
Cheers for that incredibly helpful comment mate
hes so right though, i'd hate to see what your cold email looks like i think most bankers will immediately delete and move on with their day (i also did not read your post)
The brutal reality is perhaps that they're usually far too busy to read any strangers' emails—no matter how well-written or short/long. However (like many things in life) it could perhaps be numbers-game. Maybe someone out of 30–80 emails could perhaps reply.
Probably true here
1. Way too long, keep emails and notes very succinct.
2. Don’t email HR. They have an ideal profile in their mind, if you don’t check their boxes, you are no use to them.
3. Email bankers, given you’re a sophomore, email past/current interns, analysts, and associates. People will give you time, given you are respectful and passionate. And they can get your resume seen for internships.
4. Don’t email senior bankers right away. Any bit of immaturity and sign of disrespect can have you blacklisted. Practice by talking to other interns and analysts first. Learn more and with intent.
5. From what i have heard, alums at non targets are more stringent than strangers. So widen your net. Email other people.
6. Lot of people say it’s numbers game and cast a wide net. From my personal experience, it is quality over quantity. I have emailed a few very senior bankers (global heads - and even a president - at BB and EB) and secured calls or a response with over 50% response rates. Key is quality - right people, right place - do your research. Of course, don’t be cold emailing global heads for a summer internship.
Lesson: send slightly personalized emails to 20 analysts vs. same generic email to 100.
Thanks for the comment, I'll address your points below.
1. Keeping emails and notes very succint :
As mentioned before, I only use 3 sentences - to be concise but still allow them to have some semblance of who I am. I have only ever connected with absolute strangers in LinkedIn, where I try to personalise my connections based on their past exp/education to get a higher rate of response. What would you think of me instead using the same 3 sentence structure of an intro (1) + prior relevant experience (2) + try link into their profile (i.e. saw you worked at X, did Y, went to Z...), and would you be able to give an example of one you may have sent/seen?
2. RE: HR
Thank you. Will change going foward.
3/4/5: Who to Email:
Got you - will take this onboard. it seems from the way you speak you're american; would you know if this translates over to the UK?
6. Quality over Quantity:
In terms of securing calls or responses, what have you gone on to discuss (particularly in the latter)? I have had experience with calling people and taking some time to actually prepare a few questions about their journey/firm/culture, making some notes during the call, etc. but they have largely been via LinkedIn and interns. I find it tough to not sound very 'transparent' (for lack of a better word) when emailing especially senior people with the sole purpose of an internship. Would love to hear how you might structure an email/what a back and forth would look like to have had such a high response.
Re: LinkedIn.
Most people don't read notes/messages on LinkedIn. I used LinkedIn to reach out initially, probably had a 5% response rate there - maybe <1% if you count people that did not accept my request including many alumni.
Find their emails, sometimes it is on company site but most of the time guess it based on their name and firm. Like if you know email of a single person at a firm, you can use the same format for everyone else at that firm (like [first_initial][last_name]@firm_name.com, first_name.last_name@firm_name.com or .co.uk, whatever it is.)
Re: UK bankers
I don't know the emailing or reaching out etiquette in the UK so I cannot help you there. I am in a Canada univ. and I am mostly reaching out to US bankers. My personal experience with UK is a few hours in London and it comprised of the most rude and racist encounters I have ever seen. Will never go back there.
Maybe there are blog posts on cold emailing in the UK. Do some research.
Re: Email content
That is the problem with everyone. Everyone copies someone else's format - either from the internet or someone you know. So people receive hundreds of vanilla emails with the same shit. If you were in their place, would you reply to them?
Your behavior on call is great. That is how you do it. Keep up the same work!
They mostly know you want an internship, but still never state directly. For instance, ask for advice on how to secure internships for the coming cycle/semester (not just at their firm) instead of asking if they are hiring. Once you have a call send a couple emails back and forth asking/updating them about progress/achievements - hopefully something they advised you that you did - in the next few months. Then you make the ask - something similar to "your advice has been very helpful and I would love to work with you if there is any opportunity available at your firm". Whatever wording expresses you as an individual (never copy). But don't make this ask in the first interaction, unless they bring it up that they have a position.
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