Coffee Chat Questions: What to Ask (and Not Ask) Bankers

The Purpose of a Coffee Chat

A coffee chat is not an interview. You are not being tested. The purpose is to build a genuine connection with someone at a target firm, learn something you cannot find online, and — eventually — earn a referral.

The biggest mistake candidates make: treating it like a Q&A session where they fire 10 questions in 15 minutes. That is not a conversation. It is an interrogation.

The Right Questions

Prepare 4-5 questions. Expect to ask 2-3 in a 15-minute call. Quality over quantity — listen more than you talk.

About their path: "What made you choose [Group] over other teams at the firm?" — This is personal and specific. It invites a real answer, not a rehearsed one.

About the work: "What has been the most interesting deal you have worked on recently, and what made it stand out?" — Shows genuine curiosity about the actual work.

About preparation: "If you were recruiting today, what would you do differently in your preparation?" — This is the highest-value question. It gives you actionable intel you cannot find anywhere else.

Questions to Avoid

• "What does a day in the life look like?" — Too generic. Everyone asks this. The answer is always: "It varies."
• "How are the hours?" — Signals you are worried about workload before you have even started.
• "What is the culture like?" — Too vague. Ask something specific: "How much client exposure do analysts get in your group?"
• Anything about compensation. — From a banker who does recruiting: if you ask about comp, your resume goes in the bin. Full stop. It signals that you are motivated by the wrong things and lack the judgement to know what is appropriate.
• Anything about politics, regulation, or fines. — Do not ask why the bank just paid a settlement or what they think about new regulations. These topics make the conversation uncomfortable and create no upside for you.
• Anything you could find on the firm's website. — Do not ask about office locations, group structure, or recent deals that are public knowledge. It shows you have not done basic research.

How to Follow Up

Send a thank-you message within 24 hours. Reference something specific from the conversation — not a generic "thanks for your time." Keep it to 2-3 sentences.

If the conversation went well, stay in touch. Send a relevant article or congratulate them on a recent deal close once every 6-8 weeks. Do not send generic "Happy Holidays" messages — they feel forced and get skipped. The follow-ups that work are specific and show you are paying attention. After 3-4 genuine touchpoints, you have earned the right to ask for a referral. Networking is relationship-building, not transactional — nobody goes to bat for someone they spoke to once.

Take Your Preparation Further

Download our free Networking Script Kit with outreach templates and coffee chat questions. Track all your networking contacts with the free Firm Research Tracker.

Ready for personalised feedback? Book a 1-on-1 mentoring session with an experienced IB/PE professional.