How to Cold Email for Investment Banking: A Clear Guide

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By Jerome Clatworthy

Understanding Cold Emailing

If you want to break into investment banking, cold emailing can be an effective way to get your foot in the door. Cold emailing involves sending an unsolicited email to someone you don’t know, with the goal of getting them to respond and potentially connect with you.

The key to a successful cold email is to make it personalized, professional, and concise. You want to show that you’ve done your research and that you’re genuinely interested in the company and the industry. Here are some tips to keep in mind:

  • Do your research: Before you send a cold email, make sure you’ve done your homework. Research the company and the person you’re emailing, and try to find common ground or something you can use to personalize your message.

  • Keep it short and sweet: Your cold email should be no more than a few paragraphs long. Get straight to the point and make your ask clear.

  • Be professional: Treat your cold email like a job application. Use proper grammar and spelling, and make sure your email is well-formatted and easy to read.

  • Follow up: If you don’t get a response to your initial cold email, don’t be afraid to follow up. Send a polite reminder a week or two later, and be persistent but not pushy.

Remember, cold emailing is just one tool in your job search arsenal. It’s important to have a well-rounded approach and to network as much as possible. But if you do it right, cold emailing can be a powerful way to connect with people in the industry and get your foot in the door.

The Importance of Networking in Investment Banking

Networking is a crucial aspect of landing a job in investment banking. It is essential to build relationships with professionals in the industry to get your foot in the door. Investment banking is a competitive field, and having a strong network can make a significant difference in securing an interview or job offer.

One of the most effective ways to network in investment banking is through LinkedIn. LinkedIn is a social media platform that allows professionals to connect with each other. To maximize your networking potential on LinkedIn, you should create a professional profile that highlights your skills and experience. You can also join groups related to investment banking and connect with professionals in the industry.

Another way to network in investment banking is through informational interviews. Informational interviews are conversations with professionals in the industry to learn more about their experiences and gain insight into the field. These interviews can help you build relationships with professionals and potentially lead to job opportunities.

It is also crucial to attend networking events and conferences related to investment banking. These events provide an opportunity to meet professionals in the industry and learn more about the field. You can also connect with professionals through alumni networks or referrals from colleagues.

In conclusion, networking is a critical aspect of landing a job in investment banking. Building relationships with professionals in the industry can help you stand out from other candidates and potentially lead to job opportunities. Utilize social media platforms like LinkedIn, attend networking events and conferences, and conduct informational interviews to build your network in investment banking.

Crafting Your Cold Email

When it comes to crafting a cold email for investment banking, there are a few key elements that you should keep in mind to ensure that your message is effective and well-received. In this section, we will go over some strategies for crafting a successful cold email, including tips for writing a strong subject line, composing the body of the email, including necessary contact information, proofreading and finalizing your message, and using email templates.

Subject Line Strategy

Your subject line is the first thing that the recipient will see when they receive your email, so it’s important to make it count. A strong subject line should be short and sweet, while also conveying the value proposition of your message. Consider including a call to action or a question to pique the recipient’s interest and encourage them to open your email. Avoid using all caps, exclamation marks, or overly salesy language, as this can come across as spammy and turn the recipient off.

Writing the Email Body

Once you have a strong subject line in place, it’s time to focus on the body of your email. Keep in mind that investment bankers are busy people, so you’ll want to get straight to the point and make your message as clear and concise as possible. Consider outlining your value proposition early on in the email, and make sure to include a clear call to action that tells the recipient what you want them to do next. Be sure to address the recipient by name and personalize the message as much as possible.

Including Necessary Contact Information

In addition to crafting a strong message, it’s important to include all necessary contact information in your email. Make sure to include your full name, email address, and phone number, as well as any relevant social media or LinkedIn profiles. This will make it easy for the recipient to get in touch with you if they are interested in learning more.

Proofreading and Finalizing

Before sending your email, take the time to proofread it carefully and make any necessary edits or revisions. This will help ensure that your message is professional and error-free. Consider having a friend or colleague read over your email as well, as a fresh set of eyes can often catch mistakes that you may have missed.

Using Email Templates

If you’re short on time or struggling to come up with the right words, consider using a pre-written email template. There are many resources available online that offer cold email templates specifically tailored to investment banking, which can help you save time and ensure that your message is effective. Just be sure to customize the template to fit your specific situation and avoid using overly generic language.

By following these tips and strategies for crafting a successful cold email, you can increase your chances of getting noticed by investment bankers and landing the job or internship of your dreams.

The Follow-Up Process

After sending out your initial cold email, it’s important to follow up with the investment banker to increase your chances of securing an internship or job. The follow-up process can be done through email or phone call, depending on your preference.

If you choose to follow up through email, it’s important to wait at least one week before sending a follow-up email. In the follow-up email, reiterate your interest in the firm and the position you are applying for. You can also mention any new developments in your resume or experience that you think might be relevant. Be sure to keep the email short and to the point.

If you prefer to follow up through a phone call, it’s important to be respectful of the banker’s time. When you call, introduce yourself and mention that you had previously sent an email expressing your interest in the position. Ask if they have a few minutes to speak with you and be prepared to answer any questions they might have about your experience or qualifications.

Regardless of whether you choose to follow up through email or phone call, it’s important to be persistent but not pushy. If you don’t receive a response after your first follow-up, wait another week before sending another email or making another call.

Remember, the follow-up process is an important part of the cold email process and can make the difference between securing an internship or job and being passed over. Be confident in your abilities and knowledge, and remain professional and respectful throughout the process.

Leveraging University Resources

When it comes to cold emailing for investment banking, your university can be a valuable resource. Here are some ways you can leverage your university resources to improve your chances of securing an internship or entry-level position in investment banking:

Career Services

Your university’s career services department can be a great starting point for finding internship opportunities in investment banking. They can provide you with information on job and internship postings, career fairs, and networking events. They may also offer workshops and seminars on resume writing, interview skills, and other topics related to the job search process.

Alumni Network

Your university’s alumni network can be a valuable resource when it comes to cold emailing for investment banking. Alumni who work in investment banking may be more likely to respond to your emails, especially if you mention that you are a fellow alum. You can find alumni through your university’s alumni association, LinkedIn, or other networking platforms.

Internship Programs

Many investment banks have internship programs specifically designed for undergraduates and MBA students. Your university may have relationships with investment banks that offer these programs, which can give you an advantage in the application process. Make sure to check with your career services department or alumni network to see if they have any information on these programs.

Grades and School Reputation

If you attend a non-target school, you may need to work harder to prove your qualifications to investment banks. One way to do this is by emphasizing your grades and your school’s reputation. Make sure to mention any academic achievements or awards you have received, as well as any notable rankings or accolades your school has received.

Overall, your university can be a valuable resource when it comes to cold emailing for investment banking. Make sure to take advantage of career services, alumni networks, and other resources available to you. With the right approach, you can increase your chances of securing an internship or entry-level position in investment banking.

Preparation for Potential Interviews

Now that you have sent out your cold emails and hopefully received some positive responses, it’s time to start preparing for potential interviews. Whether it’s a formal interview or a mini-interview during an informational interview, preparation is key to making a good impression and ultimately securing an internship in investment banking.

First and foremost, research the company you are interviewing with. This includes their history, recent deals they have worked on, and their culture. This will give you a better understanding of what they do and what they are looking for in an intern. You can use this information to tailor your responses during the interview to align with their values and goals.

Next, practice your responses to common interview questions. This includes questions about your background, why you want to work in investment banking, and your strengths and weaknesses. Be sure to emphasize your relevant skills and experiences that make you a good fit for the internship.

It’s also important to dress appropriately for the interview. Investment banking is a professional industry, so dress in business attire to make a good impression.

During the interview, be confident and knowledgeable. Speak clearly and concisely, and don’t be afraid to ask questions to clarify anything you are unsure about. Remember, the interview is a two-way street, so use it as an opportunity to learn more about the company and the internship.

Finally, follow up with a thank-you email or letter after the interview to show your appreciation for their time and reiterate your interest in the internship. This can set you apart from other candidates and leave a lasting impression.

Overall, preparation is key to acing potential interviews for investment banking internships. Do your research, practice your responses, dress professionally, be confident and knowledgeable during the interview, and follow up afterwards to show your appreciation.

Understanding the Investment Banking Landscape

To be successful in cold emailing for investment banking, it’s important to have a basic understanding of the investment banking landscape. Investment banking is a highly competitive industry, and there are a variety of firms and roles within it. Here are some key entities to keep in mind:

Investment Banking Firms

Investment banking firms are financial institutions that provide a range of services to clients, including underwriting securities, facilitating mergers and acquisitions, and advising on corporate finance. There are two main types of investment banks: bulge bracket banks and boutique banks.

Bulge Bracket Banks

Bulge bracket banks are the largest and most prestigious investment banks. They have a global presence and offer a wide range of services to clients. Some examples of bulge bracket banks include Goldman Sachs, JPMorgan Chase, and Morgan Stanley.

Boutique Banks

Boutique banks are smaller, specialized investment banks that typically focus on specific industries or types of transactions. They may offer services such as equity research or mergers and acquisitions advisory. Some examples of boutique banks include Evercore and Lazard.

Roles within Investment Banking

There are several different roles within investment banking, each with its own responsibilities and career trajectory. Here are some of the most common roles:

  • Managing Director (MD): The highest-ranking position in investment banking, MDs are responsible for managing client relationships and overseeing deals.
  • Vice President (VP): VPs are responsible for managing teams and executing deals.
  • Associates: Associates are responsible for financial modeling, analysis, and due diligence.
  • Analysts: Analysts are entry-level positions responsible for data gathering, financial modeling, and other tasks.

Corporate Finance and Mergers and Acquisitions

Corporate finance and mergers and acquisitions (M&A) are two key areas within investment banking. Corporate finance involves advising companies on financial matters such as capital raising and risk management. M&A involves facilitating mergers and acquisitions between companies.

Equity Research

Equity research involves analyzing publicly traded companies and providing recommendations to clients on whether to buy, hold, or sell their stock.

Overall, understanding the investment banking landscape is crucial for anyone looking to break into the industry or succeed in cold emailing for investment banking opportunities. Keep these entities and roles in mind as you craft your cold emails and network with professionals in the field.

Building Your Resume for Investment Banking

When it comes to landing a job in investment banking, your resume is your first impression. It’s essential to make sure that your resume is tailored to the industry and highlights your relevant skills and qualifications. Here are some tips on building a strong investment banking resume:

Work Experience

Investment banking is a highly competitive industry, and having relevant work experience can set you apart from other candidates. Highlight any internships or jobs you’ve had in finance, accounting, or consulting. If you don’t have any direct experience, consider taking on relevant projects or joining finance-related clubs or organizations.


Investment banks typically require a bachelor’s degree in finance, accounting, or a related field. Make sure to include your degree and any relevant coursework on your resume. Additionally, certifications such as the Chartered Financial Analyst (CFA) designation can be a valuable asset.


Investment banking requires a unique set of skills, including financial analysis, modeling, and communication. Make sure to highlight any skills you have that are relevant to the industry. If you have experience using financial software such as Excel or Bloomberg, be sure to include that on your resume as well.


Including references on your resume is not necessary, but it can be helpful to have them available upon request. Consider reaching out to former bosses or colleagues who can speak to your work ethic and relevant skills.

Overall, building a strong investment banking resume takes time and effort, but it’s essential to stand out in a highly competitive industry. Be sure to tailor your resume to the industry and highlight your relevant skills and qualifications.

Effective Cold Calling Tactics

Cold calling can be an effective way to get in touch with investment bankers and recruiters. However, it can also be challenging to get past gatekeepers and make a good impression. Here are some tactics to make your cold calls more effective:

1. Prepare a script

Before making any cold calls, prepare a short script that outlines your background and why you are interested in investment banking. This will ensure that you are able to communicate your message clearly and concisely. You can also prepare responses to common objections, such as “We are not hiring at the moment.””

2. Research your targets

Before making any calls