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I'm not in banking( I sell data rooms) but my job consists of cold calling bankers on almost a daily basis. I can't really shine light on the rate of success cold calling has on obtaining FT positions but I can give you a few tips.

  1. Be concise. Not many people like receiving a cold call. If you can get to the point quickly you have a better chance of success.
  2. Be honest. Don't lie about your qualifications or skills- They will see through you or eventually find out.
  3. Be Persistent. You will hear the word "no" frequently. That's fine, you only need one yes to land your position.
  4. Don't straight up ask for a FT role. Explain your background and ask if they could provide insight on the steps you can take to increase your odds of consideration.

You can message me if you want something more detailed. I'm sure for few cold calling has worked for them- realistically it's a tough sell, have tough skin.

 

I did this and it led to my first job out of undergrad at a lower MM PE firm in Europe. Went to a semi-target in the states and had a shit 3.4 GPA. I was looking for a last minute junior year summer internship. I compiled a list of alumni from my university, my fraternity, and M7 school from which my dad got his MBA, and sent out hundreds of emails. Landed in Europe for the internship that summer, and now I'm back full-time. Feel free to ask questions.

 

I landed my first job out of undergrad cold-calling and cold-emailing alumni from my school. I even used to put on a suit and take the train into NYC to try and get into offices of boutique shops, which worked a few times.

That was five years ago, I still keep in touch with a number of contacts I met through cold-calling. Some of them have been great mentors through the years. Don't look down on the approach, especially if you're from a non-traditional background like me. Grit is just as, if not more important, than pedigree.

 

I havent "cold- called" anyone. I have been sending emails asking for a bit of their time to learn about their experiences and time at X company. If they give me the time to talk to them, i usually begin with:

"Hi Mr. x. As i said in my email im a rising junior at vanderbilt studying economics & finance and have a strong interest in investment banking and private equity. Could you tell me about your experience at X company?"

I have about 10-12 scripted questions I want to touch on, but I just go with the flow of the conversation and try to make it as personal as possible. Seems to be working thus far.

 

great...congratulations

How do you go about finding emails for those contacts who haven't specified their contact details in the directory??

as a personal experience..i am trying to reach out to alums in macquarie but when i apply the email format of macquarie to macquarie capital, the emails are getting bounced back..

any help will be highly appreciated

 

Congrats Vandyman.

I'm curious to those of you in this networking bonanza -- have you reached out to non-alum? Would you suggest doing so, or advise against it?

 
ColumbiaKid123Congrats Vandyman.

I'm curious to those of you in this networking bonanza -- have you reached out to non-alum? Would you suggest doing so, or advise against it?

I have and have had a lot of luck. As long as you have some what of a connection with the person it is fine, but if it is totally random I would definitely advise against it.

In other definitely reach out to non-alums as long as you have something in common.

 

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