I know it might seem rather early but when should I start contacting banks for possible internships next summer. I'm also mainly targeting boutique banks because I come from a non target school and that's all that there is near me. Also, who should I be trying to speak to when reaching out to these firms because I assume the smaller ones don't really have recruiters?
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Assuming you are currently a sophomore I was in your shoes last year around this time, working at a boutique M&A shop trying to best position myself for SA recruiting. Furthermore, I was coming from a non-target school so understand the struggle.
Firstly, do not limit yourself to the boutiques; although there are several top-notch firms classified under the "boutique" umbrella I would not limit myself to this area of the industry - if you want to secure a SA position at BB, then do it (speaking from personal experience as I will be joining a GS/MS/JPM-tier BB as an IBD SA in just under a month).
To get to the primary component of your question, I would say that come June you should be reaching out to junior bankers (analyst, associate, MAYBE include a handful of VPs; would be weary of reaching out to MD-level folks as you begin) rather aggressively via cold e-mails simply to make a first contact by setting up a phone call. As you build traction at various firms I would make second contacts with some of the stronger connections you may make and meet in person, whether that be at the office or merely grabbing a coffee (geographical presence can make this phase more difficult for some). Regardless, even if you are away from NY or LA, I would say making a handful of trips is without a doubt the best way for non-target people to break into the industry through building contacts.
It's not easy to schedule 10-15 cold calls a week but take it from me, it certainly pays off.
I know this might come off as a rather stupid question but what should I even say to analysts and associates? I havent done much networking in the past especially not cold calling/emailing
Something quite generic to be honest - in an e-mail mention your strong interest in investment banking and if you could get a few minutes of their time over the phone to hear about their experiences working within the industry.
Once on the phone prepare about 5 questions, for example:
How would you describe the culture of your group/firm? How did you find your way into the industry? What did you think about X deal? Particular trends in your coverage/product area (i.e. what do you believe is driving M&A, etc.)? How might I best position myself to be competitive for superday interviews?
Assuming I'm a rising sophomore, should I mainly be targeting MM/Botiques that would provide a sophomore summer internship?
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