How important is networking in the selection process in banking?

As the question says, I would like to know how important it is to do all the usual stuff to nerwork in your undergrad years to land an internship ( like cold emails, cold calls etc.) I am currently studying at a target uni and am quite uncomfortable with reaching out to unknown people just to get recommendations(and the whole procedure is really time-consuming with few favorable outcomes). Is it possible to land an internship with a good candidate profile or the networking process is fundamental? Thank you

 

Thank you for your help, btw yeah I'm from EU. So you would say it is useless to do these things in the EU? Im asking because I think we have a quite different culture from americans about networking, so stuff like cold emailing wouldnt work so well.

Alez
 

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