How many coffee chats do you need before applying to IB?
Aim for two real conversations at each bank you care most about, held before that bank opens, plus at least one at every other bank you apply to. For a list of fifteen to twenty banks that means roughly twenty to thirty calls over sophomore fall and winter, a handful a week, which is plenty if each one ends with a thank-you and a name to talk to next.
Updated November 6, 2026. Live data checked against each firm's own careers site 1m ago.
Why two calls per bank and not one or ten?
One call shows interest. Two calls, ideally in different groups, mean two people at the bank know your name and can say you were sharp if anyone asks. That is what networking buys you at most banks: not a guaranteed interview, but a name that is not cold when your resume comes up.
Past two or three at one bank the return falls fast. A tenth call at the same bank does not help you more than a first call at a bank where nobody knows you. Spread the effort.
How should you split calls across your list?
Sort your banks into three tiers by how much you want them. The top tier gets two or three calls each, the middle tier gets one or two, and the long tail gets one, or none if you are applying broadly. Then work backwards from when each opens.
The live table below shows where each investment banking program stands right now. Banks that open first need their calls first, so put your earliest openers at the top of the week by week plan.
- Top tier, five to eight banks: two to three calls each, in different groups where you can.
- Middle tier, five to eight banks: one to two calls each.
- Wide net, everything else you apply to: one call if you can get it, a well-built application if not.
What does a week by week plan look like?
Most calls happen three to four weeks after the first note, once you count reply time, the one follow-up, and scheduling. So sending ten notes a week from mid September gives you a steady two to four calls a week from October through December.
Here is a plan for a sophomore who starts in September and applies over winter. Shift it later if you start later, and front-load the banks on your list that open first.
- Week 1: build the list, two to four names per top tier bank, with group and class year.
- Weeks 2 to 4: send eight to twelve first notes a week, top tier first.
- Weeks 4 to 6: follow up once on any note two weeks old with no reply, then widen to new names.
- Weeks 5 to 12: hold two to four calls a week, thank each person the same day, and ask who else to speak with.
- Weeks 10 to 12: check the count per bank and fill gaps where a top tier bank has fewer than two.
- When a bank opens: apply that week and send a short note to the people you spoke with there.
What counts as a real conversation?
A call or meeting where you asked specific questions, learned one thing you could not have read online, and sent a thank-you after. A quick hello at an info session counts only if you followed up and it turned into a call.
Log each one the same day with the one thing you learned. When you write your why this bank answer in interviews, those notes are your material, and a banker who spoke with you will notice if you use what they told you.
When do more calls stop helping?
Once you have two good conversations at your top banks, your time is better spent on technicals. A student with thirty calls who cannot walk through a DCF loses to one with fifteen who can. By the winter of sophomore year, shift the balance toward interview prep.
The exception is a bank where your calls went flat, where nobody offered to stay in touch. One more conversation in a different group can fix that.
Questions students ask
- Does networking guarantee an interview?
- No. It makes your name familiar and sometimes gets your resume a second look, but your resume and grades still have to clear the screen. Treat calls as a way to learn and be remembered, not a ticket.
- Do group calls or info sessions count?
- Only as a starting point. Ask a short question, get the presenter's name, and write within a day or two asking for fifteen minutes one on one. The one on one call is what counts.
- Is it bad to network with the same person twice?
- No, if there is a reason. A short update after a call, or a note when the bank opens and you apply, is welcome. A second fifteen minute call with nothing new to ask is not.
- Should I network with banks I am not sure I want?
- One call is worth it if you plan to apply there. You may find you like the group more than you expected, and you will have a real answer when they ask why their bank.
- I am already in winter and have few calls. Is it too late?
- No. Apply to what is open now, and keep calling for banks that open later, middle market and regional banks especially. A thin network hurts less than a late application.