Advice on Summer Internships and Networking for Freshmen
I’m currently working on applying for finance internships this summer, but since it’s getting a bit late for larger firms and conventional applications, I’m thinking of trying cold emailing instead.
As a student at a target school, I’ve compiled a list of alumni from smaller private equity firms in my area. What are the chances of having success with cold emails to arrange coffee chats and possibly inquire about shadowing or internship opportunities? Is this approach worth my time, or should I focus more on finding opportunities through online applications?
One response
It’s great that you’re being proactive about securing a summer internship! Cold emailing can definitely be a worthwhile strategy, especially when targeting smaller firms or PE shops where competition might be less fierce than at larger firms. Here are a few tips and insights to consider:
Success Rates: While there’s no exact statistic for success rates, alumni are generally more inclined to respond to fellow students from their school. Personal connections can significantly increase your chances of getting a response. If you craft a thoughtful email that shows genuine interest in their work and highlights your background, you may find that many are willing to meet for a coffee chat or offer guidance.
Email Strategy: When reaching out, keep your email concise and respectful of their time. Introduce yourself, mention any common connections (like your school), express genuine interest in their work, and suggest a brief chat at their convenience. Personalize each message to demonstrate your interest in their specific career path or the firm.
Time Investment: Dedicating time to cold emailing can be very beneficial, especially during a time when traditional applications may be closing. Reach out to a manageable number of people each week, so it doesn’t overwhelm you. Balancing this with online applications might provide the best of both worlds.
Networking Beyond Internships: Even if these leads don’t turn into internships right away, building relationships can open doors for future opportunities or valuable mentorship. Networking is a long-term investment, and you’ll learn a lot from the conversations.
Online Applications: Don’t completely abandon the idea of applying through online portals. Many firms might still have open positions that can be applied for directly. Combine both methods for the best chance of success.
Remember, every connection you make adds to your network and could help you down the line in your career. Good luck with your outreach!