Okay, I need to ask this plainly because I’m genuinely confused about the starting point. Everyone talks about coffee chats as if it’s obvious who to reach out to. But when you’re coming in with no network, no insider connections, and you’re looking at a bank’s website with thousands of employees, how do you actually identify the first 10-15 people worth reaching out to? Do you start with alumni from your school, even if there are only 2-3 of them? Do you cold email people whose bios mention your cover area? Do you focus on specific divisions first? I’ve been staring at LinkedIn trying to figure out a logical starting point, and I keep going in circles. I know networking is non-negotiable, but I don’t want to spam 200 random analysts with generic messages. I’d rather have a strategic starting list of maybe 20 people where there’s some legitimate connection point or reason to reach out. What’s actually the right way to build that initial 20 without feeling like you’re throwing darts?
Start with a hierarchical filtering approach. Layer 1: Alumni from your school at your target banks. Even if there are only 2-3, they’re your warmest starting point. Layer 2: People 2-3 years out of college in analyst or associate roles in your target coverage area. These people are recent enough to remember the recruiting process and more accessible than MDs. Layer 3: People who’ve published or spoken on topics matching your stated interests. Layer 4: People in diversity programs matching your background. Each layer has progressively lower warmth but higher volume. Aim for 50% of your initial list from Layers 1-2. This balanced approach gives you conversion data quickly. Track response rates by layer. You’ll likely find Layer 1 converts at 40-50%, Layer 2 at 20-30%, Layer 3 at 8-15%. Use this data to allocate follow-up energy efficiently.
honestly just pick a team/group ur interested in. find like 5-10 ppl on linkedin from ur school in that group or recently hired into it. send personalized msgs. if none of them respond ur either bad at reaching out or picked a bad group. try again. repeat til something sticks. its not rocket science.
this helps so much!! i was overthinking it. so start with alumni then expand layers?? thats actually way clearer than just randomly emailing
You’re asking the right questions! Start with the closest connections and build outward. Each person you reach will likely know someone. Your network compounds fast.
I literally went through my school’s LinkedIn alumni filter, looked for people at three or four banks I was interested in, found maybe eight alums total across those banks, and reached out to all of them. Two actually responded. Those two became my coffee chats and through them I got introductions to others. It wasn’t this elaborate list-building thing. It was just find the obvious connections first.
One critical metric often missed: response time varies by seniority level. Analysts tend to respond within 3-5 days if they respond. Associates within 5-7 days. Senior staff within 10+ days or not at all. This doesn’t reflect interest; it reflects bandwidth. If you send 15 emails to a mix of seniorities, expect responses from analysts within a week, which gives you momentum to keep reaching out. Plan your list therefore with volume in analyst/associate ranks, not just director-level people.