Should you use Cover Letter Templates?

For those cover letter templates that are out there, is it okay to use one when applying for an internship? I don't mean the generic ones you can find on Google, but the paid ones. I spontaneously purchased the cover letter of an investment banker that works at a BB, and he's fairly well known (100K on youtube), but it's not like everyone knows the guy.

The cover letter is the same one that he used to get an IB offer, and I'm considering changing it a bit to use for applications to other roles (not IB). Would a recruiter recognize it if other people have also purchased this and applied to the same company? Or are cover letters often skimmed through.

Would appreciate any thoughts, and I'm not too lazy to write a cover letter, I just think the format of this one is really good.

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I would advise against this 100000%. It’s fine to use your school’s but definitely not a YouTuber’s. There’s like 2-3 “IB” YouTubers with over 100k so I would think that many people will be using that same template. I used my school’s one and changed it just a bit, and I got 8-9 interviews. I don’t think recruiters actually read the whole cover letter for every single candidate but I imagine they skim over it and I think you could get dinged if your cover letter looks exactly the same to current and past candidates. This is just my opinion.

 

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