Investment Banking Coffee Chat Questions
The best investment banking coffee chat questions to ask bankers, what to avoid, how long a chat runs, and how to follow up to land a referral.
May 9, 2026 · 8 min read
The best investment banking coffee chat questions are specific, open-ended, and impossible to answer from a Google search. Ask bankers about their actual day, a deal they enjoyed working on, why they chose this firm over others, and what surprised them on the job. A coffee chat (also called an informational interview) runs about 10 to 15 minutes for a first call, so you only have time for a handful of strong questions. Avoid yes/no questions, anything you could have researched yourself, and intrusive or controversial topics. Prepare 10 to 15 favorites in advance, do a time check around the 30-minute mark on longer calls, and send a thank-you email within 24 hours. This guide gives you the question bank and the follow-up that turns a chat into a referral.
TL;DR
- A first coffee chat runs about 10 to 15 minutes, per Mergers and Inquisitions; prepare 10 to 15 questions and use a few.
- Best questions are open-ended and specific: their day, a deal they liked, why this firm, biggest surprise on the job.
- Avoid yes/no questions, anything Googleable, and intrusive or controversial topics like politics or pay.
- Send a thank-you email within 24 hours that references specific advice and how you used it.
- Build a list of 20 to 30 contacts; a full networking push can mean 300 to 500 emails over six months.
What is an investment banking coffee chat?
A coffee chat is a short, informal conversation with a banker, also called an informational interview, used to build a relationship and gather inside information before formal recruiting. It is not a job interview, but it functions as a first test: bankers note who is sharp, prepared, and pleasant to talk to, and those impressions feed back into the recruiting process. Mergers and Inquisitions frames the goal as making a positive impression and getting high-quality information you cannot find online.
First chats are short, typically 10 to 15 minutes, often by phone, which lets you keep notes in front of you. The banker is doing you a favor on a tight schedule, so the bar is to be respectful, well-researched, and easy to talk to. The single biggest differentiator is asking questions specific to that person's role and firm rather than generic ones. Treat the chat as a chance to learn about them, not just to pitch yourself, and you leave a far stronger impression. Coffee chats fit inside a broader effort covered in our investment banking networking guide.
What are the best coffee chat questions to ask bankers?
The best questions invite a story and are tied to that banker's specific experience. Peak Frameworks recommends questions like "Could you tell me about an interesting deal or project you've had the chance to work on?" and "What would you say is the biggest surprise on the job from when you joined the firm?" These pull out genuine, unscripted answers and show you care about their work.
For firm and career angles, strong picks include "What were the main reasons you selected this firm versus other opportunities?" and "Has your experience matched your expectations in terms of responsibility, learning, and pace?" If the call is going well, move to lifestyle and recruiting questions like "Can you give me a picture of a typical work week?" and "What preparation would you recommend for someone interested in your position?" The table below groups the questions by purpose so you can pick a few from each.
| Category | Example question | Why it works |
|---|---|---|
| Their work | "Tell me about an interesting deal you worked on." | Invites a specific story, not a script |
| Their firm | "What stands out about your firm versus competitors?" | Shows you think about positioning |
| Their path | "Why did you choose this firm over other offers?" | Surfaces real decision factors |
| Recruiting | "What preparation would you recommend for this role?" | Naturally sets up a referral ask |
What questions should you avoid in a coffee chat?
Avoid any question you could have answered with five minutes of research, anything answerable with a yes or no, and anything intrusive or controversial. Peak Frameworks is explicit that questions like "What's a banker's average day?" or anything Googleable signal you did not prepare, which wastes the banker's time and undercuts your impression.
Steer clear of divisive subjects: politics, religion, workplace gossip, and pointed personal questions ("Why did you go to school X instead of Harvard?") unless you have real rapport. Do not lead with lifestyle or pay questions, since opening with compensation reads as the wrong priority. The fix is research: read the person's background and recent firm news first, then ask questions only they can answer. Getting their name wrong, assuming they will cover all your questions, or being unpolished are the avoidable mistakes that quietly end a networking relationship before it starts.
How long should a coffee chat last, and how do you run it?
A first coffee chat should run about 10 to 15 minutes, per Mergers and Inquisitions, which recommends keeping early calls short and audio-only so you can focus on notes. Some bankers talk far longer if engaged, so do a quick time check around the 30-minute mark on a long call and never overstay your welcome.
Structure the call simply: a brief, warm intro, then your prepared questions, then a close. Peak Frameworks suggests picking your 10 to 15 favorite questions in advance and keeping them in a document you can reference on a phone call. You will not get through all of them, and that is fine. Listen, follow interesting threads, and near the end make a small ask: permission to follow up, or a referral to one or two others in their group. That mini-ask is how a single chat compounds into a network. For where coffee chats fall in the wider process, see our investment banking recruiting timeline.
How do you follow up after a coffee chat?
Send a thank-you email within 24 hours of the call. Mergers and Inquisitions is specific on timing and content: acknowledge what you discussed, mention a specific piece of advice they gave, and briefly describe how you have already acted on it. That last part separates a memorable follow-up from a generic "thanks for your time."
Use the follow-up to convert the relationship. After the call, stay in touch on a cadence that matches how responsive they were, often every few months. At scale, networking is a numbers game: Mergers and Inquisitions suggests an initial list of 20 to 30 contacts and notes a full push can mean 300 to 500 emails over roughly six months, with 2 to 3 polite follow-ups when someone does not reply. Keep records of every chat so each thank-you note references real details.
Frequently Asked Questions
How long does an investment banking coffee chat last?
A first coffee chat usually runs about 10 to 15 minutes, per Mergers and Inquisitions, which recommends short audio calls early on. Bankers are busy, so keep it tight unless they clearly want to keep talking. On a longer call, do a quiet time check near the 30-minute mark and let them decide whether to continue rather than pushing past their schedule.
What questions should you avoid asking in a coffee chat?
Avoid yes/no questions, anything answerable through a Google search, and intrusive or controversial topics like politics, religion, gossip, or pay. Peak Frameworks notes generic prompts such as "What's a typical day?" signal you did not prepare. Research the person and firm first, then ask questions only they can answer based on their specific role and experience.
How many coffee chats should you do for IB recruiting?
There is no single number, but the volume is high. Mergers and Inquisitions suggests starting with a list of 20 to 30 contacts and notes a full networking effort can involve 300 to 500 emails over about six months. Not every email becomes a chat, so cast a wide net early and prioritize quality conversations over a fixed quota.
When should you send a thank-you note after a coffee chat?
Within 24 hours, per Mergers and Inquisitions. Reference something specific you discussed, mention the advice they gave, and note how you have already started acting on it. A prompt, personalized thank-you keeps you memorable and creates a natural reason to stay in touch every few months as recruiting approaches.
How do you turn a coffee chat into a referral?
Make a small ask near the end of the call, such as requesting permission to follow up or asking to be introduced to one or two others in their group. Mergers and Inquisitions calls this a mini-ask. Then deliver a strong 24-hour thank-you and stay in light contact, so when recruiting opens you are top of mind and easy to refer.
Should you prepare questions before a coffee chat?
Yes. Peak Frameworks recommends picking your 10 to 15 favorite questions in advance and keeping them in a document you can reference on a phone call. You will not use all of them, but having them ready means you never freeze. Prioritize specific, open-ended questions about their work and firm over anything you could have looked up beforehand.
Sources
- Peak Frameworks: Investment Banking Coffee Chat Questions (checked June 2026)
- Mergers and Inquisitions: Investment Banking Informational Interview (checked June 2026)
- Wall Street Oasis: Good Questions to Ask in Coffee Chats (checked June 2026)