Cold Emailing Template for a 1st Year.
Hey Guys. I was wondering if there were any senior people/2nd or 3rd year students who successfully got a summer internship in their 1st year of university through Cold Emailing?
I want to secure something in the summer in my first year which I know is extremely difficult but I am prepared to do a lot of cold calls and cold emails to Investment Banks/PE Funds to try and secure that. If anyone has a template or tips to secure something in my first year it would be greatly appreciated.
Thanks.
Cold emailing for non IB/PE is great. Props to you. For mom and pops investment banks, that might work too. Big name players in IB/PE in UK probably won't give you the time of day. Anecdotally, I tried to do the same. While I was able to get on the phone with a few bankers, there is no internship for 1st years to be doing. Would also be conscious of school. Cold emailing so early on is different from cold emailing during 3rd year when talking to non alumni. Great attitude and definitely on the right direction. Good luck.
So would you say it would be better to wait when I'm in 3rd year where I'll have more technical knowledge etc.? What would you say about trying more boutique or smaller funds?
Look at it this way, you basically have 1.5 years until interviews/those conversations matter (spring/summer heading into your 3rd year in the fall). Say you email now. How are you going to keep the conversation alive for 1.5 years? People will tell you send updates every now and then. Maybe get drinks if they would do that. But the simple fact is this is very hard to do. Someone would have to really really like you to do that. Things that would make them like you more? going to the same school. Not a requirement but obviously alumni helps out when they can. Here's my advice
1) start technicals TODAY. You can never know enough. Hitting the desk in a week and there's still stuff I don't know. You can never learn enough. Having a strong technical base will pay dividends once it starts clicking 3-4 months from now. Start with Wall Street Prep's financial modeling course/ get the 400BIWS guide for free online PDF. Learn the basics in the guide before doing the modeling or it won't make sense.
2) Build resume. Get banking or banking adjacent internships asap. that's who you reach out to. shadow your smaller investment bank like boutique or whatever. PE helps too but smaller IB shop would be better. If they bring you on as intern, that's when you use the technical base you have started to build and see it all come together much faster than just flipping through the guides couple time a week.
3) Once you have a strong technical understanding of the basics and can answer how it all fits (how does changing wacc/tax affect DCF, how does COGS/AP/AR get modeled, rollover schedules, DCF basics, spreading comps, accounting in and out), that's when you will be able to have the best conversations becasue you can ask a mix of both technical and behavioral questions to THEM. Ex: I saw that industrials deals with a lot of backlogs how do you sensitize that in a model and can you give color on your general modeling experience? That shows you know the basics of the industry and you actually took time to google shit. Come strong like that.
I wouldn't wait until 3rd year. I would start networking In November of your second year. Get those first convos going at all the banks. Then hit em w a follow up in February/march. then again right before recruiting starts.
https://studylib.net/doc/25699293/speculative-summer-internship-guide-1… here's a guide that might be useful. Speculative emails included within!
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Dear Lewis Hamilton,I am a first-year [your subject] undergraduate at the London School of Economics and Political Science; I am writing to express my interest to the possibility of an unpaid or paid summer internship at [firm name].I have a deep interest in the [investment banking/consulting/etc] industry, developed by watching others in the industry and my exposure to client service through my [length of time] internship as a [position], both of which introduced me to a variety of concepts suchas [costs of operation and the shutdown point]. This has been further developed by my involvement in the [society or group] at the LSE where I have been introduced to [deal rationale, financing and basic financial statements]. This involvement in combination with my previous experiences highlighted in my attached CV would place me in a position to be able to support the work carried out by [firm name] whilst being able to learn more about the industry I am keen to break into. Thank you for your consideration, I know you are really busy, but even a 1 or 2-line reply would really make my day. Kind regards,Max Verstappen
Thanks for this template I am going to be using this further down the line. LSE is great so this template really works for me perfectly.
Really appreciated!
Apologies for the poor format, uploaded from mobile app. Good luck!
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Not to be rude but that message seems pretty long, I don’t think anyone would actually read through all that. When I networked for my junior year internship, I tried to balance politeness and respectfulness in language and tone with conciseness in what I was writing.
One of my friends was really struggling and ended up getting an IB tutor who helped him completely remake his resume, send emails, recommend people to talk to, and prep for interviews. Maybe look into that?
PM me
Is it possible to PM also?
Keep it short and straight to the point. At the end of the email you can say that you’re happy to provide a cover letter if required.
Don’t try to be too keen as well.
Definitely worth doing, I know a couple of people who got 1st year internships at some mid market firms. All you need is one person to like you, even networking wise it is worth it, you never know they might remember you when you apply in your second year. It won’t make much of a difference but you never know.
Yeah, I am trying that - Cover Letters, will add this to it. Really, so MM would be the way to go you would say? because I feel like Bulge brackets won't even look at me cos I'm first year
MM defo way to go, their recruiting is much less structured than BB. BB will most likely just tell you to apply for springs, I can’t imagine any will recruit 1st years for SA.
I know that some MM do though. I would just email every firm you can find, wouldn’t worry about name/prestige. If you can get one you can leverage it to get a BB summer in your second year.
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