first time posting...
Trying to break into PE or IB and have been hitting hard these days, cold-emailing relevant professionals.
So today I reached out to a VP at an investment bank who is also an alumni, asking for an informational interview over the phone.
He got back to me within 15 minutes...!
But with some solid advice that I felt is good for anyone who's in my shoes and reaching out to professionals for informational interviews.
Here's what I wrote to him...
I am a recent Data Science graduate from [Alma Mater] and I came across your name in the [Alma Mater] alumni database.
I am trying to understand more about the investment banking sector and I was wondering if you could spare a few minutes to talk to me about your work at [Bank Name] and the peculiarities of covering the retail and consumer sectors [which he covers]
I can only imagine how busy you must be, so even 15-20 minutes would really help!
Note: I couldn't find his work email address (used mailtester )but got his personal gmail so I emailed him there.
Here was his response...
Making the transition into IB, if that is your goal, will be difficult judging from your background. That said, I am unaware of why you reaching out to me or asking about C&R. There are many resources online about IB. I recommend starting here.
Conversations in your desired industry are definitely a good use or your time in finding your next job. Outreach is critical component. Your message here tells me you are not yet focused enough in your search to specifically require my insights versus someone else's.
I recommend continuing to hone the focus of your job search, be clear in your reason for reaching out, and make sure the person you are reaching out to understands and appreciates why they (and not anyone else) are a logical outreach. Importantly, no one wants to be your first call, so make sure to show some initiative/work on your part. People are more motivated to help someone cross the finish line than give them general bearings in an industry.
Good luck here. Hope this helps in the search.
I don't need to decipher this for anyone but hope this helps.
P.S. Any advice on how to do a better job reaching out or in any other way is more than welcomed :))
I have considerable grasp of IB and PE (mostly theoretical though, no experience) than my email shows. I was just trying to be brief and 'to the point'. Need to do a better job at being specific but concise enough!
A bit about my profile, since it came up in one of the responses:
I'm not a fresh graduate. I'm 28yo Canadian, just got my Master's (from a Top10 business school) last fall in Europe. Before that I worked as an engineer for 4 years. I'm now trying to switch industries (into IB but my target is PE) and targeting US.
Why I reached out to this guy....
I didn't reach out to him because he's a VP.
Honestly, the only reason I reached out to him was because he is an alumni that I knew I could reach out to. May be that's a terrible reason but bear with me...!
I got my Master's from one of the top business schools in Europe but there are **VERY ** few alumni in US, especially in IB and PE is non-existent in US/Canada. So, needless to say, networking with alumni is very difficult. Based on my very limited cold-calling experience so far, alumni response rate is almost 50% while non-alumni reponse rate is hardly 10%. So, to build my network in US, I'm reaching out to as many alumni as I can (which there are very few).
Hope this gives some context.