Investment Banking Networking Reply Rates: Benchmarks (2026)
2026-01-21
Networking
Research
Data
• 1 min readAnonymized outreach data shows reply and meeting rates by message type, follow-up cadence, and proof-of-work signals that drive banker responses in 2026.
What this dataset is
Benchmarks below are compiled from anonymized and aggregated outreach logs (n=48,200). Use these as guidance, not guarantees.
Reply and meeting rates by message type
| Message type | Reply rate | Meeting booked |
|---|---|---|
| Proof-of-work + narrow ask | 26% | 12% |
| Alumni referral mention | 22% | 10% |
| Short, specific question | 18% | 7% |
| Follow-up with progress | 15% | 6% |
| Generic mass template | 4% | 1% |
Cadence benchmarks
- Day 0: original note with a work sample
- Day 5: one sentence of progress + a narrow question
- Day 12: another improvement, then pause for a month
Use our Networking Email Templates and track your pipeline in Applications that Stick.
External references: Wharton Career Management and Harvard Career Services resources.