COLD EMAIL GUIDE
Cold emailing is one of the most effective ways to break into investment banking. These templates have been refined through thousands of successful outreach campaigns by students targeting Goldman Sachs, JPMorgan, Morgan Stanley, Evercore, Lazard.
Top Companies
Goldman Sachs, JPMorgan, Morgan Stanley
Entry Roles
Analyst, Associate
Culture
Long hours, deal-driven
Bankers are incredibly busy and scan emails in seconds. Your subject line and opening sentence will determine whether they read further. Keep the entire email under 120 words. Reference their specific group or a recent deal if possible. Bankers respect people who do their homework.
Across every industry, three principles hold true: personalize every message to the specific recipient, keep the email under 150 words, and make a clear, low-commitment ask. A request for a 15-minute phone call is almost always the right first step.
Template 1: Coffee Chat Request
Subject: [University] student, question about your experience at [Company]
___
Hi [First Name],
I'm a [year] at [University] studying [major], and I'm exploring careers in investment banking. I came across your profile and was interested to see that you work at [Company] as a [Role]. [One specific, personalized sentence about their background.]
I'd love to hear about your experience and any advice you have for someone preparing for investment banking recruiting. Would you have 15 minutes for a quick call?
Best,
[Your Name]
[University] '[Grad Year] | [Major]
Template 2: Alumni Connection
Subject: Fellow [University] alum, 15 min on your [Company] experience
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Hi [First Name],
I'm a [year] at [University] studying [major]. I noticed in the alumni network that you graduated from [University] in [year] and are now at [Company] in [Role]. As a fellow [University] alum preparing for investment banking recruiting, I'd love to learn about your path from campus to [Company].
Would you be open to a 15-minute call in the next couple of weeks?
Best,
[Your Name]
[University] '[Grad Year] | [Major]
Template 3: Post-Event Follow-Up
Subject: Great meeting you at [Event Name]
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Hi [First Name],
It was great connecting with you at [event] on [day]. I really appreciated your insights about [specific topic they discussed]. It gave me a much clearer picture of what investment banking work looks like day-to-day.
I'd love to continue our conversation if you have time. Would a 15-minute call work sometime this week or next?
Best,
[Your Name]
[University] '[Grad Year] | [Major]
Template 4: Informational Interview Request
Subject: [University] [year], question about [Company]'s [Team/Division]
___
Hi [First Name],
I'm a [year] at [University] and I'm seriously exploring a career in investment banking. I've been researching [Company]'s [Team/Division] and your background caught my attention because [one specific, genuine reason]. I have a few targeted questions about the Analyst role and the recruiting process.
Would you be willing to spend 15 to 20 minutes on a call? I'll come prepared with focused questions to make the most of your time.
Thank you,
[Your Name]
[University] '[Grad Year] | [Major]
Template 5: Referral Ask (After a Coffee Chat)
Subject: Thank you, [First Name], and a quick question
___
Hi [First Name],
Thank you again for taking the time to chat last [day]. Your advice about [specific topic] was incredibly helpful, and I've already started [specific action based on their advice].
I'm planning to apply to [Company]'s [Program/Role] this [season]. If you're comfortable, would you be willing to submit a referral on my behalf? I completely understand if that's not possible. Either way, I'm grateful for the time you've already given me.
Best,
[Your Name]
[University] '[Grad Year] | [Major]
Your subject line determines whether your email gets opened. In investment banking, the most effective subject lines are specific, personal, and under 60 characters. Here are five proven formulas:
[University] '[Year] interested in [Bank] [Group]
Fellow [University] alum, question about [Bank]'s [Group]
[University] finance student, 15 min on [Bank] [Group]
Quick question about the analyst experience in [Bank]'s [Sector] team
[Mutual connection] suggested I reach out about [Bank]
Timing matters more than most students realize. The best days to send cold emails are Tuesday, Wednesday, and Thursday. The best times are 8:00 AM to 10:00 AM in the recipient's time zone, when most professionals are checking their inbox before their day gets busy. Avoid Monday mornings (inbox overload after the weekend) and Friday afternoons (mentally checked out).
If you do not hear back within 5 to 7 days, send a short follow-up. Keep it under 50 words: reference your previous email, reiterate your ask, and make it easy for them to say yes. A polite follow-up can double your response rate. After two total emails with no response, move on to other contacts.
For investment banking specifically, plan your outreach campaign 3 to 6 months before recruiting season begins. This gives you time to build genuine relationships rather than rushing to ask for referrals at the last minute. Early networking also means less competition for people's time, since most students wait until applications are about to open.
Identify your targets at investment banking firms
Search for professionals at Goldman Sachs, JPMorgan, Morgan Stanley, Evercore, Lazard who share a connection with you. Prioritize alumni from your university, people in your target role, and employees with 1 to 3 years of experience.
Write a personalized cold email
Craft a concise email (under 150 words) that references the recipient's specific role, company, and background. Include a clear ask for a 15-minute coffee chat. Avoid generic templates.
Send at the right time
Send your emails Tuesday through Thursday between 8 AM and 10 AM in the recipient's time zone. Plan a follow-up 5 to 7 days later if you do not hear back.
Track and manage your pipeline
Keep track of every email you send, every response you receive, and every coffee chat you schedule. A well-organized pipeline ensures you never lose track of a promising connection.
The most reliable method is to use a verified contact database like Offerloop, which has 2.2 billion professional contacts with deliverable email addresses. You can search by company, role, and education to find exactly the right people. Guessing email formats (firstname.lastname@company.com) works sometimes, but bounce rates are high and it does not scale well.
With well-personalized emails, expect a 15 to 25 percent response rate for alumni outreach and a 10 to 15 percent response rate for fully cold contacts. Generic, template-style emails typically get under 5 percent. The biggest factor in response rate is personalization quality, not volume.
Keep your email under 150 words. Investment Banking professionals are busy and often read emails on their phones. A concise message with a clear ask (15-minute coffee chat) gets far more responses than a long email explaining your career aspirations. Every sentence should earn its place.
Send emails Tuesday through Thursday between 8 AM and 10 AM in the recipient's time zone. Start your networking campaign 3 to 6 months before the recruiting season begins. For investment banking, this means aligning with the typical application timeline for Analyst roles.
Yes, always send one follow-up email 5 to 7 days after your initial message. Keep it short and reference your previous email. A polite follow-up can double your response rate. After two total emails with no response, move on. Do not send more than two messages to someone who has not replied.
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