Do you need to attach excel model to get higher response rate for your cold emails?
Hi everyone,
I have a question: have been networking and sending countless cold emails asking for informational interviews (who am I, what school i go to, what do i study, interested in ib so wanted to meet for coffee etc), pretty standard, but I have a very low response rate (I know this is expected)..
However, being a student who strive to achieve a higher response rate, I wanted to ask:
- Should I attach an excel model to generate higher response rate? (Say" I attached a xxx model here just for your reference to show you I am very interested / serious about this business.) Or no? I asked many people and got mixed suggestions..
- Some say do it, some say that's too much and advise against it, those who advise against it say attach my resume instead. So I guess my second question is do I attach my resume (instead of a model) in the email? Just say something "I have attached my resume here for your reference".
Any thoughts?
Thanks!
No, as my MD told me too many analysts have terrible modelling habits and conventions, it would be better not to display it and make it obvious you have no clue what you are doing as they would have to get you to unlearn all that nonsense.
A DCF is not rocket science its assumed you know how to perform one.
Attaching your resume is fine, but please never attach any model that you've done.
really? why? Isn't attaching model supposed to make me stand out from the crowd and make me look like at least very eager? Isn't that a good thing?
Thanks.
I don't know if you're joking or what, but that's coming off as too eager. Most likely, these people don't have time to look at your model (nor do they care). Don't do it.
If you want to come off as eager (but also respectful), follow up after a week if they don't respond. Then maybe once more a week later.
Attaching an excel model is a great way to guarantee a 0% response rate. You really shouldn't even be attaching your resume to cold emails.
It sounds like you may be making your cold emails too long. Sending a complete cover letter in a cold email is another way to get a shitty response rate. I've always had the most success when I keep things simple and concise. Literally just 3-4 sentences..
I personally disagree on the resume bit. When I was cold emailing I had alums tell me the only reason they responded is because my resume was really good. Then again if you have like a 3.3 maybe you shouldn't attach it.
But yeah definitely don't send a model.
Is this a troll post? Think about it this way: why on earth would someone who works 80+ hours a week take ten minutes to open and review an Excel model that some random person sent them? Not to mention that the model is probably not formatted correctly, contains numerous mistakes, etc.
trader_timmy's suggestions are all great, though, I would disagree with attaching your resume. In my opinion, your resume can provide some context, and if you have previous IB experience, at least give the analyst a reason to email back (i.e. the analyst knows you'd at least have a shot at making it through the interview process).
Do not attach an excel model. It comes across as too eager. I'd reassess your cold email if your response rate is so low.
Great. Thanks everyone!
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