Looking for feedback about networking. I have not been receiving responses after sending out 15-20 emails to bankers. I go to a target,and have been reaching out to alumni, if that’s relevant. Is this a normal or indicative of doing something wrong?
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Although I'm at a BB now and have been for a while, I was very non-traditional and broke into the industry thru a lower MM spot. With that background, I probably cold emailed ~500 ppl (i dont remember, it was years ago), of which 10-15% responded, most / 75% of that subset eventually got to a call, and maybe ~20% of that final subset actually resulted in an interview process.
It's a numbers game, good luck
following
2 things: what does your email say and what times are you sending them?
Response rates are low on cold emails but you should be getting some responses if only contacting alumni
My notes are simple and to the point, and mid days in the middle of the week.
Response rates get lower as the recruiting season goes on - people are more responsive to the 2 emails they get in November than the 5 random emails per day in April. This is out of your control at this point but something to keep in mind.
You definitely need to email more than 15-20 though, likely 100 emails will get you 10 or so phone calls. Luckily if you're at a target you are less dependent on networking - so make sure to apply to every group even if you haven't networked there yet.
For full time recruiting for class of 2022, when would be a low volume time to send out cold emails?
2 or 3 weeks into your internship
Full time is a bit tricky because it's not always viewed positively to reach out before starting (you're bailing on your internship before you even start?) but you need to be on radars before the summer ends. Network as much as possible around weeks 4 or 5 - easier if you have a good story as to why you want to move.
if you can get a 10% response rate that's considered very good if you aren't going to a target.
Honestly it’s definitely surprising. I am at a non-target but had almost 100% of the alums (30-40) I reached out to replied to me.
then you are either a women, minority, or lying lol.
idk why you would say that. I am actually a non-minority but I would expect alumni to reply. The guy said he was barely getting any alumni to reply which isn't common (at least at my school). On the other hand, I barely got 2 people to reply.
Just keep sending out more emails. You'll get hits eventually.
I will say, though, that many of the emails I sent out were not the best written. Better emails can get better responses (though it is not the case that they necessarily do).
Bump
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