How many people should I network with?

Based on the most helpful WSO content, here are some insights on networking and cold emailing:

Networking Strategy:

1. Number of Contacts:

   • General Approach: Networking is a numbers game. The more people you reach out to, the better your chances of getting responses. There's no fixed number, but aim to contact as many relevant professionals as possible.
   • Targeted Approach: Focus on alumni from your school, as they are more likely to respond positively. One user mentioned a near 100% response rate when emailing alumni.

2. Networking at Each Firm:

   • Elite Boutiques (EB) vs. Bulge Brackets (BB): The approach doesn't significantly change between EBs and BBs. However, larger firms (BBs) might have more alumni and professionals to reach out to, so you might need to contact more people.
   • Specific Firms: Tailor your approach based on the firm's culture and size. For smaller firms, you might need to be more persistent and creative in your outreach.

Handling Non-Responses:

1. Follow-Up Strategy:

   • Wait a Week: Wait a full seven days before sending a follow-up email. Keep it short, sweet, and to the point.
   • Limit Follow-Ups: If you don't get a response after three follow-ups, it's time to move on. There are many other professionals to contact.

2. Improving Response Rates:

   • Professionalism: Ensure your emails are well-worded, free of spelling mistakes, and not too long. Avoid being demanding.
   • Personalization: Mention any mutual connections or shared backgrounds (e.g., same school). This makes your email harder to ignore.
   • Resume Attachment: Always attach your resume for reference.

Additional Tips:

• Track Your Contacts: Create an Excel sheet to keep track of who you've contacted, their responses, and follow-up dates.
• Leverage LinkedIn: Use LinkedIn to find and connect with professionals. It can also help you identify mutual connections.
• Stay Positive: Networking can be challenging, but maintaining a positive attitude and being thankful for people's time can go a long way.

For more detailed guidance, you can refer to the https://www.wallstreetoasis.com/forum/investment-banking/guide-cold-con…</a">Guide: Cold Contacting Investment Bankers For Non Targets.

Sources: The Best Networking, Cold Calling and Cold Emailing Posts on WSO, Something wrong with my cold email?, 5 Steps To Becoming A Rockstar Freshman (Undergrad Advice), Cold Emailing/LinkedIn Messaging, Want to get me on the phone? Here&#039;s how - a networking overview.