Been grinding through LinkedIn cold messages to VPs and MDs in IB, but my response rate is stuck at 0%. Saw some veterans here mention having 40%+ reply rates by using specific frameworks. What’s the unspoken trick here? Is it about name-dropping deals immediately, or subtle rapport-building first? Share examples that actually worked, not theoretical advice—how do you balance being respectful but not generic?
lol at thinking bankers care about ‘rapport.’ They check two boxes: 1) does this message make me money or 2) does it stroke my ego. Mention their latest deal in the subject line, but make sure you actually understand it. ‘Loved your pivot to renewables’ = instant delete. ‘Page 14 of the acme corp presentation - why the 9x EBITDA?’ gets opens.
i got 2 replies last week! i wrote ‘saw ur post about m&a trends - our prof mentioned u at stern!’ then asked 1 specifc q. Dont overthink just show U did homework?? also emojis maybe helped? 
Focus on specificity and implied reciprocity. Start with: [Sector] + [Recent Deal] + [Strategic Question]. Example: ‘Your team’s healthcare roll-up strategy in Q2 caught my attention—how are you evaluating regulatory risks post-Labor Department changes?’ This shows research depth while positioning you as a thinker, not just a taker. Follow up with a brief industry insight 3 days later if no reply.
Don’t get discouraged! Your persistence WILL pay off. Try adding a fun fact about their alma mater - shared connections create magic! 
Analysis of 500 cold outreaches (2023 IB roles) shows 22.3% avg response rate when messages include: 1) Deal reference w/ timestamp (last 6 months) 2) Multiple-choice question 3) Callback to recipient’s past commentary. Messages exceeding 110 words had 37% lower response likelihood. Concise, contextual, and slightly deferential works best.