Cold Email - no response, what next?
Hello,
I am a Sophomore at a non-target and am in the process of reaching out to some local boutiques in hopes of finding an internship for this Spring. Rather than out right asking for an internship, I figured it would be best to first introduce myself and learn a little more about these bankers' stories. The template I use is pretty short and straight to the point:
Mr./Mrs. X,
My name is XX and I am a Sophomore at XXX studying Finance. I am eager to learn more about the Finance industry and believe your experience at XXX Bank could serve as a great teaching point. If you have the time, I would love to hear about what you do and how you got started.
Thank you for your time,
xxxx
xxxxx@email
xxx-xxx-xxxx
I've sent this email out to a few people but so far have gotten 0 responses. How should I follow up and are there any changes you would make to my message?
Thanks.
You're doing it wrong if you think 'a few people' is enough
Unfortunately, where I live there is only ~5-6 boutiques in the area. I understand what you are saying though, should I be contacting multiple people from the same bank at the same time?
Just because you reach out doesn't mean that the group is going to give you an offer or even be interested in interns at the moment. It's all about timing, patience, and resilience. You need a little luck to get the right combination. The best thing you can do is increase your numbers to increase your chances.
If you have already emailed one person at the group, you don't need to email someone else at the same time. But follow-up with the people you reached out to in a week or two. If you don't hear back, push on, even if it means emailing someone different in the same group.
Don't look at networking as just about getting a job. If someone is willing to offer you mentorship you should be open to taking that. People make the mistake of thinking that it's only about getting a job, but remember that giving people jobs is a cost. Every business won't want that. If they can they will, but don't think that they're just waiting for your call so they can hand you an internship.
Also, saying you're interested in the 'finance' industry and 'your bank as a teaching point' sounds like you don't know what you're talking about. Are you interested in investment banking? And please do share one thing about you that you think the person you're reaching out to will connect with; people like stories and it actually helps if there's a subtle hint of desperation in your email.
iBankedUp, perhalps you came from a different background (http://www.wallstreetoasis.com/forums/how-do-you-get-offers-and-not-kno…)
You should be getting a high hit-rate if you are targeting the right people.
There is zero need to email more people. There are three factors at play: - It is the holiday season. Some friends who are in very large groups at BB had less than 10% of employees actually in the office this week. Give it some time. - You need to target people who have the highest chance of replying and will have some connection to you - Your email shows no personality or perspective. It could have been written by 90% of finance majors in the US
Addressing each at a time: - Wait until late next week before sending more emails - Think about why someone should care about you. The absolute best would be a close family friend or fraternity alum. Second best is school alum, same racial minority, same college, same highschool... If there are no connections like this, that's FINE. Go to the next point. - Bridge this reason into why you are contacting this person. You are studying _ at _ and are highly interested in working in _ this summer to gain experience in _? Due to school's alum nextwork not having a strong presence, you are hoping to gain some perspective on their experiences at the firm? If this is the case, everyone can empathize with not having many people to network with, and at least you don't appear as a generic applicant and instead implies that you will be appreciative.
Hopefully that's helpful. Currently, I wouldn't reply to your email. Do not do what iBankedUp says as every email that you send that doesn't get a response is a lost connection. Especially if you target potential connections who are likely to give a fuck about you.
Thanks for the advice, I really do appreciate it.
Are you advocating I make my message longer, or just take out a piece and replace it with some kind of connection to the person? I am also hesitant to bring up the prospect of getting an internship (interest in working in x, to gain experience in x) with the firm in my first contact. Is it an unwarranted concern of mine to come off as too demanding in my introductory email?
Message should be longer and changed. It's fine if you don't want to talk about getting an internship, but feel free to say "I've grown interest in working in _, and it would be great to hear your about your experiences working in _ at _ etc"
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