Struggling with Networking Email Response Rate – Is 7.5% Normal?
I’ve been actively networking and cold-emailing but have been hitting a response rate of ~7.5%, and I’m wondering if this is typical or if there’s something off with my email approach. Here’s a quick breakdown of the stats:
- Total Emails Sent: 480
- Total Responses: 37
- Coffee Chats Secured: 12 (with 4–5 more in the process of being scheduled).
- Target Audience: Mostly Analysts, some Associates, and a couple of MDs.
- Began emailing on Oct 23rd (so been over a month).
For context, I’m at a super non-target school, and I’ve been reaching out to people primarily at MM banks. I’d really appreciate any insights into whether this response rate is within the norm or if it suggests my template needs improvement.
Also curious to hear what response rates others have experienced, especially those from non-target schools doing similar cold-email outreach.
Thanks in advance for the help!
Are you using your personal or school email? I know several banks don't allow emailing to non-edu external email addresses.
I use my school email, so that can’t be the issue.
Restricting emailing to .edu external emails only would mean nobody at the bank could ever email a corporate. There is no chance you’re making an accurate statement.
“Personal emails” right verbiage here, but you probably should’ve picked that up.
Coming from a nontarget background is obv more challenging but looks like you've made great progress talking with people all up the chain. I personally didn't network with more than 20 people just ensure that you are having genuine/quality/impactful conversations, as all it takes is a couple people to vouch for you. Are you customizing your emails? sounding genuine and not just copy pasta, attaching resume? Have a good resume (experience, interests, grades,)? following up?
Thank you for your response. My emails are slightly personalized (I usually mention one or two things from their LinkedIn - however, I keep this part super short), but the rest is more standardized (copy & paste). I’ve received good feedback on my resume, so I don’t believe that’s the issue.
I typically follow up two weeks after no response. Honestly, I think the problem is my emails might be too long.
Is 20 enough for summer analyst positions? Is it about quality or quantity
If I private message you, would you be able to take a look at my email template and give me any feedback? If not, no worries - don’t want to impose.
I think this is normal. If you have over a dozen coffee chats or discussions, then that’s a good sign. Keep doing what you’re doing and make sure you’re prepared for interviews.
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