If you are applying to investment banking internships through a generic online portal and waiting for a response, I have bad news: You are screaming into the void.
In Crack the Street, I explain the math. Banks receive tens of thousands of resumes for ~1,000 spots. Online portals screen primarily for GPA and target schools. If you want to break in—especially if you aren't at a "Core" school—you cannot rely on the "Submit" button.
You need a champion on the inside. You need to Network.
Here is the unvarnished truth: Banking is a relationship business. If you can't hustle to get a coffee chat, how will you hustle to close a deal?
Here is the playbook for bypassing the HR filter and getting your resume directly into the hands of a decision-maker.
1It's a Numbers Game (So Start Early)
Networking isn't a quick win; it's a sales funnel. You need to reach out to 50 people to get 15 responses to get 5 calls to get 1 referral.
My Advice
Start today. Do not wait until recruiting season starts. If you reach out in September when everyone else does, you are noise. If you reach out in May, you are proactive.
2The "Warm" vs. "Cold" Approach
Always start with Warm Leads. This is the low-hanging fruit.
Warm Intro
Alumni from your school, friends of family, or 2nd-degree LinkedIn connections
Cold Email
Direct outreach to professionals with no prior connection
The Strategy:
Look for alumni from your school, friends of family, or anyone with a 2nd-degree connection on LinkedIn. A warm intro has a 50%+ success rate. A cold email has a 10% success rate.
But eventually, you will run out of warm leads. That's when you must master Cold Outreach.
3The Perfect Cold Email Formula
Bankers are busy. They live in their inboxes, but they have zero tolerance for fluff. In Crack the Street, I provide the exact template that gets replies. The key elements are:
The Subject Line
Specific and descriptive (e.g., "NYU Student – Investment Banking Inquiry").
The Connection
Immediately establish why you are emailing them specifically (e.g., "I saw you worked on the [Deal Name] transaction...").
The Ask
Low friction. Do not ask for a job. Ask for 15 minutes of advice.
The Scheduling
Propose 3 specific time slots. Do not make them check their calendar and get back to you.
4The "Coffee Chat" Is an Interview
Once you get the call, do not waste it. This is not a casual chat; it is a "screen."
The Goal
You want them to hang up and think, "This kid gets it. I'd be comfortable putting them in front of a client."
The "Airport Test"
This is the unspoken metric. They are asking themselves: "If I were stuck in an airport with this person for 4 hours during a delay, would I be miserable?" Be personable, be curious, and be normal.
5The Follow-Up (Where Most Fail)
Sending the thank-you note is table stakes. The real winners play the long game.
The Tactic
If you speak in June, they can't hire you yet. You need to stay "top of mind" until recruiting kicks off in late summer.
The Update
Send a brief email 6 weeks later.
"Just wanted to share that I finished my internship at [Firm] and read your recent report on [Topic]. Hope you're well."
The Result
When resumes are due, you aren't a stranger. You are the persistent candidate they already know.
The Bottom Line
Networking allows you to "de-risk" yourself. By the time your resume hits the pile, you want the Analyst or Associate reviewing it to say, "Oh, I talked to Brett. He's sharp. Put him in the interview pile."
Get the Exact Cold Email Templates
For the exact Cold Email templates and a database structure to track your networking outreach, check out Part I, Section C of Crack the Street.
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