Lateral Cold Email Response Rate

Has anyone else's response rate for cold emails dropped since around May? 

I had a fairly good response rate while in university (~20%), and even had a decent rate after graduating (~10%) but now have dropped to pretty much 0 responses. I've changed nothing in my approach and even was able to get into a process and make it to the superday in the spring but since around May I can't get anyone to even respond to me...

Edit: currently in a non-IB finance role if that makes a difference

 

Cold emails from people already in banking are a little sus. People are going to be apprehensive. Why would you do them anyways? If you have good deals on your resume, you can just apply online through the portal and get interviews or a headhunter will contact you. 

The best part of lateral recruiting is that you don't have to go through tedious networking hurdles.

Source: have lateralled

"Work ethic, work ethic" - Vince Vaughn
 

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