Lateral Cold Email Response Rate
Has anyone else's response rate for cold emails dropped since around May?
I had a fairly good response rate while in university (~20%), and even had a decent rate after graduating (~10%) but now have dropped to pretty much 0 responses. I've changed nothing in my approach and even was able to get into a process and make it to the superday in the spring but since around May I can't get anyone to even respond to me...
Edit: currently in a non-IB finance role if that makes a difference
Cold emails from people already in banking are a little sus. People are going to be apprehensive. Why would you do them anyways? If you have good deals on your resume, you can just apply online through the portal and get interviews or a headhunter will contact you.
The best part of lateral recruiting is that you don't have to go through tedious networking hurdles.
Source: have lateralled
Sorry should have clarified in my post- I'm currently in a non-IB finance role. I've seen some people make the jump from the role I'm in but it was through networking. I did an internship during uni at a no-name bank which is why my title is says that
Are these alumni?
Nah I went to a non-target so I don't have a lot of alumni in banking. My alumni response rate is 90%+ though.
I actually noticed this too... I'm at a good firm and have a strong resume. even reaching out to my old contacts from SA recruiting has been a bust. maybe just cuz people are so busy rn??? idk
Yeah hopefully things get better for both of us soon. Good to know we're not alone though.
Has your response rate increased? I'm still not getting responses and with it being bonus season I feel like this is the best time to lateral
Is it only because people are insanely busy? Thought usually the summer was a slowdown period.
At least at my firm, people are getting worked to the bone rn
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