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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.
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.
Thanks so much! These are good points. I will PM you for something further.
Cold Calling your way to a Job (Originally Posted: 10/23/2016)
I was wondering if anyone from this forum managed to cold call their way into an internship or a job?
If so, how exactly did you do it? Did you just cold call some random boutique investment bank concierge and asked if they were hiring interns for the summer?
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.
Cold-Calling Success (Originally Posted: 08/15/2011)
Just thought I'd share some success I have been having.
Began Cold-emailing last week. Emailed about 50 or so alumni from 10 different banks. Mostly BB and some middle market banks. Emailed 20 chicagoland boutiques and a few Nashville banks as well.
So far, I have talked to about 4 or 5 alumni and been refered to the MD, yet to e-mail follow up with the MD.
About 4 boutiques have e-mailed me back and 2 said they had part-time fall opps. One interviewed me on the spot and I have a part-time i-banking internship this fall in Nashville.
I have found I have been most successful when I demonstrate enthusiasm, knowledge of their company, and a strong interest in finance, but also do ask for next steps. I do ask if they have oppurtunities at the smaller banks and for a referal when talking to alumni at the BB.
Just a few days of work and great success already.
Just thought I'd Share!
very nice! congrats!
Grats. How do you start your convo? Especially since you're calling out of the blue.
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 on your success! And thanks for sharing your technique. This will be useful for me come next summer.
VandyMan: could you tell us more about the questions you ask. are they industry or company specific?
VandyMan: could you tell us more about the questions you ask. are they industry or company specific?
VandyMan: could you tell us more about the questions you ask. are they industry or company specific?
Congrats! Cold emailing is the way! haha i got an interview Friday at a IB Boutique! Hope they hire 17 year olds for internships!
This is great. What sort of questions did you ask?
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?
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.
thanks and congrats man !!
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