I'm currently a sophomore finance student at a non-target with a 3.6 GPA pursuing a small boutique IB internship in NYC this summer. I've landed a few networking calls, constantly emailing and sending Linkedin messages, but I feel like I may not be doing enough. What would be a good target goal of how many calls I should have a week? Should I strive for quality over quantity, or just try and get call-time with as many people as possible?
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i managed to land an internship with GS's m&a team by calling a member of their team every 15 minutes until i broke their spirit. would strongly recommend this practice.
hope that helps.
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If you do 4-5 outreach emails a day, that's 20-25 per week (don't send networking emails on the weekends... or even Friday). Assuming hit rate of like 50%, you'll end up with something like 10 per week, which actually kinda seems like a lot now that I'm typing it out. Maybe try to do 1/2 to 3/4 of that
I think 4-5 email is right. Seems to me like your hit rate assumption is way too high.
It's more about quality than quantity. Try connecting with people you have something in common with - it'll provide a motive, spark interest, build connection easier, give you a talking point, etc. To answer your question directly though, I would say at least one per day. I typically had 2 or 3 per day (non-target).
Hit rate is typically like 1-5% from my experience (when reaching out to non-alumni). So when I was recruiting I sent out 50 emails per week. Create a spreadsheet- make a list of every rank of every employee at every bank. It's a tough process but if you just keep your head down and don't let your spirit get crushed by lack of responses you'll be fine.
Also if you are in a small IB doing an internship, your bosses and others will have buddies at other banks, probably, boutique and likewise. Ask if they can introduce so you can "learn the business from another viewpoint" etc. Of course work hard, be liked, smile and understand if they hesitate or say no. I would counsel waiting at least 2 weeks or so before asking since then they'll know you a little better.
After all, you are an intern, you want to learn, be a sponge, work hard, do what they need but also want to learn more about the industry and how interesting it is and blah blah blah. If people like you, the personal intros will literally fly.
Good Luck
I was in a similar position. As I interned my junior summer in relevant but non-IB, I would spend 1-1.5 hours every night when I got home sending cold emails and LinkedIns, Managed to work in calls during work by sneaking away or later at night, which led to a 6 interviews and two offers. Pm me if you need any suggestions.
Calls ranged from 1-5 a week. If you're a non-target like I was, I found it was more of a numbers game of reaching out to other people with similar backgrounds.
I sent around 50 emails every single day and get a response rate of around 2% from non-alums when I was recruiting, so around 1 call per day. Sometimes I get a better hit rate or was lazy so I averaged around 4 calls per week.
I did about 110 first calls/coffee chats throughout my recruiting. Recruiting is mid summer this year so whatever gets you to around that number.
Don't a lot of companies start recruiting in spring?
Most of my friends signed during the summer so I’m not sure anymore. I recruited in 2018.
Do you recommend sending emails or messaging on LinkedIn?
Both
Sending cold emails directly to their work email address by looking up their name and knowing the company’s email address ending? Isn’t it strange to send emails to someone you’ve never met directly to their work email?
69
I targeted 4-5 calls a week. At the beginning of the process when I was just reaching out to alum I could get away with sending 10-15 emails but near the end, I was sending up to 50 emails a week.
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