Struggling with IB Networking & Outreach
Hi, I am a sophomore transfer at a US T25 semi-target and failed to get into many of the best clubs, and I'm really struggling with the networking aspect of recruiting. I've sent many cold emails, but am not getting many responses at all, and it's already October and I've had around 3 coffee chats in total. I'm not sure what exactly to do, as I have my behaviorals and most technicals down but struggling to get my foot in the door. Today felt terrible for me because I had a coffee chat planned earlier and they just did not respond to my call. While hearing that others in clubs are having over 50% response rates, and I'm at merely 5-10% it really hurts and I'm not sure what to do. If any of you have advice it would be greatly appreciated. Thanks.
5-10% on cold emails is pretty normal, honestly. The club kids with 50% are mostly emailing alumni and people they already have a link to, which is a different pool.
A few things that move it. Email alumni from your school first, they answer way more than random people do. Use the alumni database or LinkedIn filtered by school and bank. Go for analysts and associates over VPs and MDs, they remember what recruiting felt like and they have more time.
Keep the email to 3-4 lines. Who you are, one specific reason you're writing to them (their group, a deal, a shared school or club), and a small ask like 15 minutes. If they have to scroll, it's not getting answered.
Follow up once after about a week. A lot of people just missed it. Past that, move on.
Don't take the no-show personally. People get pulled onto work all the time. Send a short note saying you're happy to reschedule whenever works for them and leave it there.
And don't wait to feel ready on the technicals before reaching out. The chats are what get your name in front of people, so just keep the volume going. Early October is still fine for most sophomore programs.
Second this, 5-10% is standard, its just a numbers game.
If you want to have 3 calls per bank and are stronly targeting 20 banks that means that you need about 1400 emails with a "bad" response rate. You'll find that as you get more personal in emails and are able to identify connections (similar hometown, sport, language, whatever) your response rates will start to rise.
Keep at it, good luck.
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