I’m a junior from a non-target school, and I don’t have the obvious network connections a lot of my peers seem to have. I’ve been trying to reach out to banking professionals for informational interviews to eventually land a summer internship, but honestly, my response rate is basically nonexistent. I’ve sent maybe 50 emails and gotten two replies—both generic. I’m looking at the subject lines people use, trying different pitch angles, timing things better, but I’m wondering if there’s something more fundamental I’m missing. Like, are cold emails even the move, or am I just wasting energy? Should I be leveraging LinkedIn differently? Are there specific people I should be targeting—like younger associates who might remember the internship hustle better than MDs? I feel like there’s a framework I’m not seeing. For people who’ve actually had success with this, what made the difference? Was it about who you reached out to, how you framed it, or something else entirely?
50 emails w 2 responses? ur doing it wrong. bankers get hundreds of these every week. most go straight to trash. better approach: find someone at ur school who works in banking, even if u dont know them, and ask for 15 mins. alumni network actually works. cold emails are basically useless unless ur exceptional.
omg the alumni network angle is so good. ive heard ppl have way better luck that way! also maybe personalize more? not generic template vibes?
Your instinct to question the approach is correct. Cold email response rates in banking are historically low—typically 2-5% at best. The more effective strategy involves leveraging institutional connections: research your school’s alumni in banking, craft personalized outreach that demonstrates specific knowledge of their work, and emphasize genuine interest in their group’s focus areas. Association events, recruiting forums, and networking conferences also tend to generate higher-quality conversations than pure cold outreach. Consider that younger associates are indeed more accessible, but your message quality and genuine preparation matter significantly more than recipient seniority.
You’re on the right track thinking strategically! Alumni connections are golden. Stay persistent, personalize genuinely, and the doors will open. Keep pushing!
I had zero connections freshman year, and cold emails weren’t working til I tried something different. I found an alum working in ECM at a bank, reached out saying I went to the same school, asked for 15 mins. He said yes immediately. That one conversation led to an intro to another analyst, who eventually referred me for the internship. Personalization based on real connection—even just the school—changed everything.
Cold email response rates in banking average 2-5% unless heavily personalized. Alumni networks show 3-4x higher engagement rates. Younger associates (2-5 years in) respond 40% more often than senior bankers. Effective outreach includes specific group research, demonstrated market knowledge, and urgent timeline context. Consider adding networking event attendance or university recruiting sessions, which convert at 15-20% higher rates than email alone.
have u tried looking 4 ur school’s alum network on linkedin? way better starting point than pure cold outreach imo
when i was recruiting, the emails that actually made me respond were the ones where someone clearly understood what our team did. theyd reference a recent deal or ask about a specific market. felt like they actually cared, not just blast-mailing. those convos often turned into real opportunities because the person showed up prepared.