Responding to a rejection email at a Boutique
Hello,
Just received a rejection email for a MM Boutique, just going over the reasons why I got rejected, they said they are not looking for any interns at the moment, I did (break one of your rules) and say I would intern for free – slightly frustrated with the lack of responses from other banks, but they got back to me straight away and one of the partners i emailed referred me to one of the other partners in the firm (so he may like what I sent)
Just thinking what I could possibly respond saying…
Is it worth asking what time of year they are looking for interns?
If no reply do you recommend emailing them in a month or so asking again?
Would you suggest emailing them asking if they know any MM firms in the area that maybe hiring interns?
I was quite pleased they emailed back and were so polite, so don’t want to sound too pushy because they seemed very approachable and maybe useful later on.
Another side question, I’ve emailed a couple of other Boutiques and not had a response and would like to call them, do you have a post suggesting some bullet points what to say in a cold call?
Thanks, Matt
Since its a smaller bank I doubt they have a 'time of the year' they look for interns, so I wouldn't lead with that. I also would strongly advise against emailing them in four weeks asking again for an internship spot (this is like asking 'are we there yet' on a road trip).
However the third question is a good one and I suggest you base your email around this. This is an effective way to a) become aware of other opportunities and b) expand your network with warm referrals from people in the industry.
good luck
I just want to get a few bullet points on what I could expand on in my follow up email, So you suggest I ask for suggestions of other MM firms in the area,do you think it would be useful to ask for an informational interview via phone or in person? Could I ask if they know of any industry events happening...
Basically the thing is the company's in Spain, I have a conversational knowledge of Spanish and I've not had much luck searching for these company events in Spain, so i'm really interested in networking in my area...
thanks, Matt
I just went through the same stuff you are going through right now. My advice to you is for one, never lead with offering to intern for free. I would go online (search through here and other websites) http://equity-research.com/list-of-top-200-investment-banks-and-boutiqu… (check that link as well). And start e-mailing. What I did: Send a short 5 sentence email introducing myself, saying why I wanted to work and what I had done, and asking to meet with them. If I didn't hear back in a week, I began cold calling. Cold calling with an e-mail that you already led with makes it easier. Also, look for boutiques and small shops that have alumni from your school or someone who has a type of connection to you. Another good thing to do is go on linkedin and in the company search, search any investment bank. It will pop up anyone in your network that knows someone there. I'll keep it short but this is a good start. PM me if you need any more help.
Why is it unwise to offer to work for free? I got rejected from a mid-sized macro fund for the same reasons (decided to not take any interns), and I'm planning to call the CIO and offer to work for free.
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