Networking with limited time
Currently a junior at a complete non-target. Trying to network my way to a summer analyst position in IB. Almost all of the people I am reaching out to I have no connection to what so ever other than we both went to non-targets. My cold email response rate is pretty poor (~10-15%). I've tried using a template that is straight to the point (who I am, why I want to talk, times we could talk) and a more personable message. They both get the same response rate. With very little time left in recruiting, is there anyway I can build up enough contacts to get my resume in front of the right eyes? The only thing I can think of is to start mass mailing (20+ people a day from different banks). Is there a more efficient way to go about this?
Unfortunately no, and quite honestly 10-15% rate as a cold email (not alumni) is a decent response rate.
I agree, 10-15% is great. You could also try LinkedIn messaging, simply press connect and in the personalized note have your version of a cold-email? Just mass email/LinkedIn and check your university career center. Lastly, you should also follow up with people you've networked before to keep building those relationships.
networking time frames (Originally Posted: 01/05/2010)
How long does it take for an alumni to get back to you if you emailed them for basically an informational before you know they aren't interested? two days? a week?
I am just wondering how long should I wait before I send a follow up email (if I even should?) or call? Or just leave it that and find other resources to tackle in regards to networking.
Also at a boutique, is there a big difference among results from emailing analysts to emailing partners and managing directors like there would be at a BB?
Thanks for the comments!
It can take a while, especially if they are busy, etc. I would wait a couple weeks and then follow up. Sometimes it isn't worth your time, but you have to be the gauge of that. I have had some success sending an email with a note that I will call to follow up. Keep at it, it will pay off eventually!
hmm good point with the follow up call. i will start doing that.
it wont be too unprofessional/annoying to still go ahead and give a follow up call in a couple weeks if i haven't heard back if i didn't mention it originally correct?
If you are doing that then you better have your shit together, i.e. why are you calling, why do you want to do IB, etc. be brief, but not rude. show them you have a clue, but dont be arrogant. and dont BS a BSer.
these people are very busy and especially since you call them out of the blue they will want to know why the fuck they should be talking to you.
So at what point should we give up? If they haven't responded to two of our e-mails, should we not e-mail another time? Whats the limit on the number of e-mails we should send?
The fastest I've had was an MD in 12 minutes, slowest was 24 hours.
I'd say above is more of an exception than a rule. Some will respond very quickly, some will respond later, some will respond after your 2nd or 3rd email, and some won't respond at all.
If they don't respond to your first, give it 1-2 weeks. then maybe another 1-2 weeks. if you still don't get anything, wait a few months before trying again.
The comment about having your shit together if you call is on point. I have heard of people calling and depending who they get on the phone, having basically an interview right then and there. Proceed with caution would probably be the watch word when calling. Then again, if you are aggressive, know what you and can articulate that very well then a call might help you.
I had to contact an MD before. Sent her one email, nothing for about a month. Sent a follow up email and she got back to me within 24 hours. These people get a ton of emails and it is pretty easy to miss a message or say they will get back to it and then forget. Send a follow up and then if that is still ignored you have to decide if you want to risk beating a dead horse or not.
Networking time frame (Originally Posted: 08/10/2011)
So when is a good time to start? Some have told me towards late august (around the 20th) or so. Sound about right? My plan is to network heavily starting on around the week of the 20th and then attend the investment banking forum at my school for resume drops. Don't want to start too early give the loaded schedule people have and thus the higher probability they might forget my email. Want to get the time frame right.
Thanks
FT? or SA?
If FT, it's super late.. relationships should be going by now.. if you start trying to network 3 days before the resume drop, I don't see them being very inclined to help
SA, go ahead
Never stop networking; timing's important but in a sense it's never too early.
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