In this article, Daniel LEE (ESSEC Business School, Global Bachelor in Business Administration (GBBA) – 2023-2027) explains how to network to land internships.
Introduction
Finance is a highly competitive industry, whether it is investment banking, private equity or consulting roles. In 2025, Goldman Sachs’ summer internship acceptance rate was 0.7%. Candidates must stand out with prior internships, extracurricular activities or a referral. According to Dustmann et al. (2016), around 33% of workers obtained their jobs through personal networks, such as referrals from friends or family.
During my own internship search, networking played a decisive role, as it helped me secure a Transaction Services (TS) internship in Paris in a small boutique that also have other activities like audit and M&A. Over the past two years, I’ve contacted over 250 professionals, which led to 50+ coffee chats and four interview opportunities and 1 offer. If I had this offer, it is not because I had the strongest CV or the best grades. I was referred to by a senior because I networked with him and built a genuine relationship. Networking was not something I was born good at, I learned step by step.
In this article, I will share my vision of networking, even if I am not an expert, I simply want to give tips that worked for me and that you guys could use.
Why is networking important in finance?
In finance, analysts are close to each other. Often you will spend a lot of hours working on materials late at night. Being able to chat and laugh is important to keep a good atmosphere at work. Imagine working insane hours with someone who is grumpy, boring and unreliable. That is why your human side is more important than you think. Moreover, if someone who is trusted in the company refers to you during a hiring process, the firm will make sure to interview you. Yet, many students don’t dare to reach out to professionals.
What are the common mistakes?
Networking must not feel transactional. The person must be the one who is asking if you want an internship, not the contrary. Sending a message “Hi can you refer me for this role?” or just a generic application mail with your CV will make the person feel “used”. Sending a message that is personal and genuine will be much more appreciated.
On the other hand, I think that targeting analysts or associates is the best strategy. You will be around the same age, and they will have tips and information that are up to date. Moreover, seniors often don’t have time, but you can still try to contact them!
The method.
Obviously, the first step is to choose which field you want to break in: Mergers & Acquisitions (M&A), Private equity (PE), Asset Management (AM), etc. Then:
- Use LinkedIn and your Alumni directory (using ESSEC alumnis increased 40% of my response rate compared to non-ESSEC professionals) to identify people you want to contact.
- Send a short message that is simple and arrange a call. For example: Hi [Name], I’m a student at ESSEC currently exploring opportunities in Transaction Services. I saw that you are currently working at [firm] and I would love to learn more about your experience. Would you have 10–15 minutes for a quick call this week? I’d really appreciate your insights.
- Prepare for the coffee chat: look at his LinkedIn profile, prepare some questions and smile! Being nice and kind is the bare minimum! The coffee chat is not an interview but a discussion, follow-up on what he says and be genuinely interested in the person and what he says. At the end of the discussion, always thank the person for their valuable time.
- Never ask for a referral directly! If the conversation goes well two things can happen: 1) At the end of the call, he asks you directly if you are looking for an internship OR; 2) You can kindly ask if they are recruiting anyone now.
If they don’t mention anything about sending your CV or contacting another person, you can consider that the person won’t give you a referral. And that’s okay! You can still try with another person.
Conclusion
You now have an idea of how to network properly. Again, I am not an expert, and I do not claim that this method will work 100% but that is what I used to do for the past 2 years, and it worked well. Don’t forget that networking is a skill that you can learn, don’t be discouraged if the first calls are bad, that’s totally normal!
Related posts on the SimTrade blog
▶ All posts about Professional Experiences
▶ Jules HERNANDEZ My internship experience in a Multi-Family Office.
▶ Lilian BALLOIS M&A Strategies: Benefits and Challenges.
▶ Louis DETALLE My experience as a Transaction Services intern at EY.
▶ Basma ISSADIK My experience as an M&A/TS intern at Deloitte.
Useful resources
Dustmann, C., Glitz, A., Schönberg, U. & Brücker, H. (2016) Referral-based job search networks. The Review of Economic Studies, 83 (2) 514–546.
FoxBusiness (27/06/2025) Goldman Sachs’ Summer Internship Acceptance Rate
Scott Keller (24/11/2017)
About the author
In this article, Daniel LEE (ESSEC Business School, Global Bachelor in Business Administration (GBBA) – 2023-2027).
▶ Read all articles by Daniel LEE.