Cold Emailing - Internship
Hey guys,
I am looking to cold email my way into a summer internship at a PE/IB firm, and I would just like some advice as I'm not quite sure how to go about this process.
Who should I send these emails to? Should I send it to the email provided on the "contact us" page or an employee of the firm?
Any suggestions would be helpful!
Send it to a specific person in the firm. However, beware that the people you are emailing probably get these types of emails everyday.
I would suggest calling someone directly. Would definitely set you apart from every other person that sends the same email.
So just confirming that I’ve to email somebody at an associate level or higher right?
Also, will definitely try cold calls.
Thanks
Yes - I would try to contact associate level or higher.
To be clear, I don't recommend emailing. I strongly suggest calling.
Heck - Depending on where you are, walk into an office and see if you can schedule a meeting with someone.
Everyone emails...try to stand out...
I actually got my Summer IB internship through cold-calling and cold-email over a six+ month timeframe.
My process:
1) Find a VP or higher to cold email (I actually did not focus much on Analysts or Associates since I wanted to focus more of my attention on the decision makers)
2) Follow-up after a week with a cold call. From the cold call, see if I could stay in touch with the contact at firm as they evaluated their hiring needs on a rolling basis.
It is grinding process and takes a great deal of self confidence and conviction, but if it can also lead to pretty amazing results when things work out (which I am beyond elated they did).
That's great to hear!
In your cold email did you attach your resume and directly ask for an internship? Or was it more just to get in contact with the person?
Attached my resume to every single cold email. My email was essentially a condensed Cover Letter with my resume attached where I addressed looking to for a SA IB role with a firm
Definitely not the “contact us” section of a company’s website
You can also think about taking the longer route. Cold message VPs and MDs of boutiques on LinkedIn. See them in person or get them over the phone for an informational interview. Once you are in a comfortable space, pitch for the internship. That way, even when you're asking for an internship, you are building a network that would go a long way. If you can form a connection with them, your chances of getting that summer job might just go up.
My two cents - if you are not in a rush to get an internship right now.
Well definitely try this as well.
Here are a few more things you can take care of: 1. Get a LinkedIn premium subscription. That baby will let you text pretty much anyone on the platform, even if they aren't your connection.
Try to find people who have something in common with you: school and country make a great fit, but try to find whatever you can. It will help you add familiarity to the dynamic of your relationship.
Do your homework on their journey before you are going on the call.
Make a list of questions you would really want to ask. Keep them for the later part of the conversation. Open the conversation instead with open ended questions that make the person comfortable; whatever happens, keep a casual air around you and do not get patronizing. These questions can be about their experiences at the bank, at the school, how did they break in, how did they get their first client, how do they do XYZ or ABC at the bank. Some people look at the recent deals of the bank and try to use them as a proxy to show they 'know' the bank. This is a classic mistake. Someone from the MD or VP's chair would know it when you BS.
Finally, when you make the ask - don't be ambiguous or shy about it. Don't be cocky either. You are not asking the person to give you his Tesla. You just want an internship. I recently heard a comedian say - your audience feels what you feel. If you are feeling bad, they will feel bad for you. If you are feeling confident, they will feel confident with you. You want this person to feel confident and comfortable with you.
If you have seen the person get chatty and give you some good perspective on her/his career - there is a high chance that the conversation went well. You can show them something that shows your ground skillls. For instance, a small valuation or a DCF you might have conducted on a known company. Once you have taken their feedback on your work, make the ask.
May randomness be on your side. Cheers!
From a PE Associate's perspective, don't cold call me. Send a cold email. I am still less likely to respond, but I might if you're able to make a good connection into me (e.g Alma Mater, friend of friend, said something smart about one of my portfolio companies etc.). Not everyone is unresponsive, but if you reach out to enough associates you'll get a bite...
I used to take these calls all the time, but I've found them to be an incredible waste of time if I respond willy nilly. So i don't. The well thought out connections sent via email I will respond to, and they tend to convert into more engaging phone conversations.
If you are able to get someone on the phone do your homework on the person and firm. If you're in college I don't expect you to be able to fully understand what I do. But ask thoughtful questions and at least show you tried to understand what I do. I know what you want, so I am going to ask WHY. Always be able to articulate WHY you did something. Even if not 100% true, should be able to articulate WHY you decided to go to your college, WHY you did these internships, etc.
Lastly, always make an ask. If a kid doesn't ask me about internships or anything like that I am not going to bring it up myself. We all know exactly what you want, so you might as well shoot your shot.
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