Networking Struggles
Hey all,
Freshman in college here. I've been grinding technicals these past few months and trying to learn as much about IB as possible. I currently attend a T20, but it's treated as a non-target by many firms, so most students who go into IB put in just as much work as those at a non-target. They rely heavily on networking, and I've been trying to do the same. The pandemic has hit really hard, and I've only spoken to one Analyst at Moelis thus far. I'm enthusiastic about learning about the individual banks and their cultures, but feel like relying solely on Google is going to be a shoddy experience. I haven't had much luck on LinkedIn either, except with a couple alumni. As a last resort, I'm here hoping some of you insiders can give me a peek into your firm and experience in IB, and perhaps we can connect. If any of you Analysts and and Associates out there wouldn't mind, I'd greatly appreciate a message or something.
Happy Holidays!
If you've only gotten on the phone with one person, you are doing something wrong. What is your cold email and how many people have you reached out to?
Hey there,
I've spoken to upwards of 10-15 people. I reached out to a lot of people though, and haven't received a response. I think my emailing skills aren't too bad though. Here's the body of my last email:
I hope you are well, and enjoying the holidays. My name is Richard, a freshman at UCLA pursuing investment banking. Over the last few months, I have been spending time understanding the industry and learning the technicals. I have enjoyed the process thus far, and am really excited about the possibilities that come with the job, offered by the diverse set of banks out there and their many divisions. From what I've heard, Moelis is a challenging firm to recruit for that values hard work. I think it may potentially be a great career fit, and would love to learn more about the bank over the next few months. I'd greatly appreciate it if you can share some insight about the work and culture of Moelis, as well as the steps you suggest I take in preparation for recruitment and the opportunities to seek along the way.
I can imagine that you receive countless emails similar to this daily, and hope you aren't too overwhelmed. I hope you take some time off these next few weeks to enjoy the holidays with your family, and reply at your own convenience. I look forward to hearing from you, and hope you can finally relax and kick off 2021 refreshed and motivated.
Jesus bro, I wouldn't respond to you and I dont even have a job yet. Lose the length.
Cold email should be 3-4 sentences max. No banker has the time to read all that. Cut out all the unnecessary stuff all you need is a quick introduction, say you’re interested in learning about their firm/job/role, and ask them for a call.
Also the reason your response rate is low is probably a combo of the email the fact that you’re a freshman. It’s pretty useless to network until around halfway of Sophomore year. Maybe reach out to a couple people if you’re genuinely interested in learning about investment banking but do not network for the sake of networking it won’t do you any good
Way too long. Keep it 2-3 sentences max.
Title: Mention in the title of the mail your school / other item that can bond you with them (similar interest etc.) to give them a reason to open the mail in the first place.
Body:
Dear XYZ,
1st: your name and school, programme and current year
2nd: why do you want to call them (state interest in the Firm, which is less obvious than getting a job, which is the end result you aim for)
3rd: ask when they would be willing to call (be flexible when it comes to planning)
I would appreciate the opportunity to speak with you.
Thank you,
YZX
Thank you, I'll definitely try sticking to that!
Yup way too long. I lost interest halfway in and it was worded rather clunky. My suggestion (maybe you add 1 short sentence to the first paragraph about why you're interested in IB but I usually prefer short and sweet):
Subject: UCLA Student Introduction
Body:
John,
I'm currently a freshman at UCLA studying xxx and I'm very interested in pursuing a career in investment banking. If you have a quick 10-15 minutes for a short informational call I would love to hear about your experience in the industry and at XYZ Bank.
I have attached my resume for your reference (some would argue that you shouldn't attach your resume, I always have; depends on your experience though since you're only a freshman a resume may not be necessary since you've only had 1 semester of school and probably not much work experience). Really appreciate your time.
Best,
Richforever
Also, now probably isn't a great time to be trying to network. I would wait for the new year. People are really busy trying to wrap things up before the holidays and then will be on vacation. You're emails right now are probably getting ignore because of that. Would wait for 2021 and pick up the networking again. You're a freshman so you have plenty of time
Thanks for all the help! I really appreciate it, hope you enjoy the holidays.
Agree with all of the above. Firms are also focused on talking to sophomores right now so you may be better off focusing your networking efforts towards next summer/early fall. Reach out now to alums but don't exhaust your list emailing 400 people. Summer is still pretty early to network and SA 2023 will be on firms' radars by then
How would this forum look if everyone here came begging for people to network with? Really hope nobody replies to you so we don't see 100 threads like this from IU and Baruch.
The poster is a freshman in college and obviously needed someone to guide him in the right direction. Thankfully a lot of people did, giving OP some really good advice. If anyone should piss off, it should be you, "Intern in IB-M&A."
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You should check out joinrainier. It's a service that connects students recruiting with other students who have already received offers at top firms. They have paid hour sessions where the tutors help with more in depth things like technicals, but if you make an account they send you alerts about free coffee chats and office hours with tutors, and they send you great info and tips
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