I’m trying to break into IB for a summer internship, and I don’t have family or friends in the industry. So I’m basically starting from cold outreach, and every email I send feels like it’s disappearing into the void. I’ve tried the standard LinkedIn messages, generic “I’m interested in banking” emails, and even some personalized notes to bankers—but I’m getting ghosted more than anything.
I’m wondering if there’s actually a technique that works, or if cold outreach is just a numbers game where you need to spam 200 people to get one response. And if it does work, what’s the actual difference between an email that gets ignored and one that gets a response?
Have any of you actually broken through with cold outreach? What made someone actually take the time to reply or grab coffee when you had zero credibility with them?
let’s be honest—cold outreach sucks and most bankers ignore it. but here’s what actually works: show you’ve done real research on them specifically. mention a deal they worked on, not their generic bio. keep it absurdly short—like 4 sentences. and have something unique about yourself, even if it’s just a specific angle on why you want to work there. volume helps but personalization is what gets reads.
this is so hard 
but keep pushing!! ur eventually gonna get some responses—it just takes time and persistence. youll get there!
Cold outreach effectiveness hinges on specificity and respect for recipient time. Generic mass outreach rarely converts. Instead, identify bankers working on sectors that genuinely interest you. Reference a specific recent deal they led, explaining concisely why you find it compelling. Position your email as a genuine question or observation rather than a request. Aim for twenty thoughtfully researched outreaches rather than two hundred templated messages. Response rates improve dramatically with this approach, and quality conversations tend to follow.
You’ve got the drive to do this—that’s already ahead of most people! Keep refining your approach and stay positive. Breakthroughs happen!
Success rates for cold outreach typically range from 2-5% with templated messages and 8-15% with genuinely personalized research-backed emails. Variables that improve response likelihood include: mentioning a specific deal within the past 18 months, demonstrating relevant sector knowledge, keeping initial message under 100 words, and sending during banking business hours on weekdays. Targeting analysts and associates yields higher response rates than MD-level bankers given their time constraints and mentorship orientation.