Networking in investment banking is a numbers game, but it's a game with specific rules. If you break them, your email gets deleted instantly. If you follow them, you get the 15-minute call that leads to the Superday.
The 5 Golden Rules of Cold Emailing
- 5 Sentences Maximum: No one reads paragraphs on a phone. If they have to scroll, they delete.
- No "Pick Your Brain": This phrase signals "I want to waste your time." Ask for "advice on your experience in [specific group]."
- Specific Availability: Never ask "When are you free?" Offer 3 specific time slots.
- Use Your .edu Email: Gmail addresses often get filtered to spam.
- One Thread Rule: Always reply to your own email when following up.
Subject Lines That Get Opened
For Alumni (High Response Rate): - Student from [University] - Networking - [University] Sophomore / Investment Banking Advice - Introduction - [University] [Year] - [Name]
For Non-Alumni: - Question on [Specific Deal] / [Your University] Student - Referral from [Mutual Contact Name]
Avoid: "Hello", "Coffee Chat", "Inquiry"
The "Plug-and-Play" Scripts
Scenario A: The "Warm" Alumnus Email
Subject: [School] Student / Investment Banking Advice - [Name]
Dear [Name],
I hope you're having a good week.
My name is [Name] and I'm a [Year] at [University] majoring in [Major]. I see that you previously were involved with [Student Club/Sport] on campus and are now working in [Group] at [Bank].
I would appreciate the opportunity to briefly speak with you about your experience moving from [School] to [City/Bank]. I am free next Tuesday or Thursday after 2pm ET, but can work around whatever is convenient for you.
Best, [Name]
Scenario B: The "Cold" Non-Alumnus Email
Subject: Investment Banking Advice - [Name] ([Internship Experience])
Dear [Name],
I hope you are well.
My name is [Name] and I am a [Year] at [University] with recent internship experience at [Previous Firm]. I noticed you recently worked on the [Deal Name] transaction and wanted to ask for your perspective on [Specific Detail].
I know you are incredibly busy, but I would appreciate 10 minutes of your time. I am available [Time Option 1] or [Time Option 2] if either works.
Best, [Name]
Finding Email Addresses
Most banks follow standard formats: - Goldman Sachs: first.last@gs.com - Morgan Stanley: first.last@morganstanley.com - JP Morgan: first.last@jpmorgan.com - Evercore: first.last@evercore.com - Lazard: first.last@lazard.com - Centerview: flast@centerview.com (Note the difference!)
Timing and Follow-Up Strategy
When to Send: - Best Days: Tuesday, Wednesday, Thursday - Best Times: 10am-2pm or 7:30pm-9pm - Avoid: Monday mornings, Friday afternoons, 2am
The Follow-Up Cadence:
Send 1: Initial email. Wait: 5-7 business days. Send 2 (The Bump): Reply to original thread. > "Hi [Name], just wanted to bump this in case it got buried. Would still love 10 minutes if you have a moment next week."
Wait: 5-7 business days. Send 3 (The Hail Mary): Reply one last time. > "Hi [Name], I'll try one last time—if you aren't the right person, is there someone else in your group you'd recommend?"
Result: If no reply after 3 attempts, move on. Don't email again for 6 months.
Tracking Your Efforts
Create an Excel tracker with: Bank, Name, Role, Email, Date Sent, Date Followed Up, Status, Notes.
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