The Secret That Triples Email Response Rate
Breaking into investment banking is no small feat, especially for students from non-target schools. In episode 14 of The Coffee Chat podcast–The Secret That Triples Email Response Rate–Ben Dowell chats with Rylan Chandler, a sophomore at the University of Miami Herbert Business School, to discuss his journey, networking strategies, and key insights for interview success.
In this article, we will discuss some key lessons from the podcast, including the importance of preparing your technical skills, strategies for increasing engagement while networking, how to leverage your networking conversations, tips for effective time management, and ways to stand out in interviews.
The investment banking recruitment process is challenging, but you can set yourself apart with the right approach. By mastering technical skills, refining your networking strategy, and preparing thoroughly for interviews, you'll be well on your way to securing a top finance role. Watch Episode 14 of The Coffee Chat podcast on YouTube to hear Host Ben Dowell chat with Rylan Chandler about his journey, the lessons he's learned, and expert tips for breaking into investment banking.
Building a Strong Foundation: Why Technical Skills Matter
Initially on a pre-law track, Rylan pivoted to finance, focusing on investment banking in the healthcare sector. While he has made great strides in networking, he acknowledges that technical skills are his primary area for improvement. Ben emphasizes the critical role of technical proficiency in the recruitment process:
"The most important thing to know about technicals is that it's not the second floor of the house—it's the foundation. If you don't have that, you won't even get in the door."
Ben advises students to prioritize financial modeling and core investment banking concepts, citing resources like Adventis's Financial Modeling Certification® (FMC®) Program.
The Secret That Triples Email Response Rate
Rylan has been relentless in his networking efforts, sending nearly 100 emails per week. While he has achieved an impressive 12% response rate, Ben shares a game-changing strategy to increase engagement:
Start with a Point of Connection – Identify a shared link, such as alum status, fraternity affiliation, or a mutual interest.
Make Your Ask Clear and Early – State your request for a brief conversation upfront rather than burying it at the end of the email.
Provide Availability – List 3–5 dates and times to make it easy for the recipient to reply with a simple "Tuesday at 4 PM works."
"The biggest mistake students make is writing emails that are too long and self-focused. Instead, flip the angle—make it about them. People enjoy sharing their advice, and when you structure your outreach correctly, you'll see your response rates double or even triple."
Turning Conversations into Referrals
Networking is not just about securing calls—it's about leveraging relationships to advance. Rylan asks an important question: How do you turn a good connection into a recommendation?
Ben explains that directly asking for a referral can be ineffective. Instead, he recommends a more strategic approach:
Ask for Advice, Not Favors – For example, instead of saying, "Can you refer me?", say: "I'm aiming for a first-round interview at XYZ Bank—what advice would you give me to improve my chances?" This naturally leads to them offering help.
Request Specific Introductions – Instead of a vague, "Do you know anyone I can speak with?", say: "I'd love to learn more about transactions in the healthcare sector. Do you know anyone who specializes in that?" This makes it easier for the banker to identify the right person to introduce you to.
Balancing Recruitment, Academics, and Campus Involvement
With a packed schedule—including leadership roles in multiple organizations, a remote internship, and a full class load—Rylan has had to manage his time strategically. Ben's advice? Prioritize recruiting.
"Recruiting is a finite window. If you don't commit to it now, you'll miss your chance."
Rylan has adapted by scheduling his classes in the morning, allowing him to dedicate afternoons and evenings to networking and interview preparation. He also batches tasks—writing and scheduling emails in advance—to maximize efficiency.
Standing Out in Investment Banking Interviews
Once candidates land interviews, the next challenge is differentiation. Ben breaks down the two key factors that set candidates apart:
Exceptional Technicals – "You don't need to be just 'good enough'—you need to be in the top 20% of candidates when it comes to technical proficiency." Programs like Adventis's FMC® Program provide the rigorous training necessary to achieve this.
A Compelling "Why This Bank" Answer – "Avoid generic answers. Talk to current and former bankers, ask how they differentiate themselves, and then tie their insights to your personal experience."
Rylan provides a great example of this in action. After speaking with a banker at BNP Paribas about their cross-border deal expertise, he connected this to his experience working on a French acquisition. He crafted a memorable response by making his interest in the firm both specific and personal.
Final Thoughts
Breaking into investment banking requires more than good grades and ambition—it demands strategic networking, technical excellence, and a deep understanding of the industry. Students can significantly improve their chances of securing competitive roles with targeted preparation and a refined approach.
For those serious about landing a job in finance, Adventis’ Financial Modeling Certification® (FMC®) Program is a critical step toward building the technical foundation needed to succeed. Learn more about how Adventis can help you accelerate your finance career today.
Stay tuned for more insights from industry professionals and students navigating the path to Wall Street. Subscribe to The Coffee Chat podcast on YouTube and follow us for updates!
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