How to overcome networking mistakes
I am currently recruiting for 2021 summer internships, and since am running out of time, have been cold emailing a lot of people. I have been focusing on boutique banks, and emailed 35 people each at 3 of the biggest boutique over the past month. However, the response rate has been low due to the virus, and only introductions have been successful. I talked to 5 people at one of the banks, and the last person I asked to introduce me to someone told me that I should stop reaching out to more people as 5 was a good number of people to talk to. He also told me that he knew that I had talked to multiple people at the bank. How bad is the impact on my application. and how can I recover from this considering that was the bank I liked most?
In another instance, I reached out to the recruiter of one of these banks and she told me that she understands that I have reached out to multiple people at the firm on the same topic, and that I should stop at this point and she will send me information about virtual programs they will host in a few weeks. Are my chances with these banks completely ruined?
I hate to be the bringer of bad news but you've probably fucked up your chances of getting that specific investment bank. It seems like many people have made this mistake, and you have to learn from it like everyone else.
The big mistake you made here was reaching out to everyone in the office at the same time, generally people think that's annoying. I mean what are you even going to talk about with the 5th guy, he knows you have all the information. Your wasting his time and bothering him at that point (Which sounds like what you've done).
Also if 35 people is all you've reached out to, you really need to up your game, try 100 a week. There are non-targets horny for investment banking, who do way more than that, you should do roughly 100 at least for a week.
2 Take Aways:
Don't try to know everyone, one good connection can bring you really far. If they want to connect you with others, they will
When sending cold emails be strategic, don't blindly send cold emails to everyone at a firm. I would try maybe 3 cold emails per office (Even then some people think that's too much and this is dependent on firm size too).
35 people total or 35 people per bank? Are you targeting alumni or just random bankers?
35 people to each bank. Random bankers, one of the was alumni.
Wayyyyyy too aggressive... I imagine if it’s for a MM, you’re pretty much emailing everyone in the office... never go beyond few of them each time...
Yeah dude, depending on which boutique 35 is the size of an entire analyst class...
What matters more is how you respond to constructive advice. Coming here and crying about it is idiotic. Of course you won't break in if this is your mindset.
You might be overthinking this. It depends a lot on how your calls went with those 5 individuals. Did you think they went well? If yes, then I wouldn't worry that much. The person that told you to stop talking to people does have a point, there is no reason for him to refer you to more people when you already spoke with five analysts from the group. I would focus on building those connections, pick two individuals that you best connected with and focus building stronger connections with them.
Thanks, I appreciate it.
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