Why Rx/IB: is this an appropriate answer

Intend on recruiting for Rx next year. Interested in the space because my family runs a large business that went through a Chapter 11 bankruptcy. They always talk about how navigating the restructuring process carefully really could have gone either way, and how everyone involved in the process (including bankers) helped bring my family from poverty to wealth again. I feel like this is a good motivation answer to "why Rx/IB" but I'm worried in the age of diversity recruiting this will make me sound stuck up/privledged/like an ass. Its the genuine reason why I'm interested in distressed, but just want to make sure if this is an appropriate answer to go with.

 

Poverty to wealth is not great because it leaves u sounding wealthy at the end — feels out of touch when you say that. The story has a lot of great potential and I doubt many have heard it, but your framing is horrendous ngl — it just shows low social IQ

 

The concept of the post is to cut it dry and ask for tips for coomunicating the story well. It’s not like I went and said this to an MD.

 

Jesus fucking Christ guys, everyone you work for will be richer than you, and you everyone is rich here. You’re the odd man out if you aren’t. Be honest.

BurnerBurner3395
 

You can mention the family business going through chapter 11, but saying the poverty to wealth line could backfire. You actually do have a solid story given you saw how chapter 11 works as a client, but mention something like the value you saw banks/advisors provide that mitigated some of the problems you could've faced. This way you show you understand rx and how its helpful.

 

Thanks, this is what I was looking for. Figured I’d cut the situation dry and just get someone’s opinion on good posturing.

 
Most Helpful

I honestly hate this answer. Does a good job of outlining how you got introduced to rx, but does nothing to tell me why you are interested in it and why you are recruiting for it. Honestly the tried and true answer is to always shit on M&A as being boring and every transaction is the same and then talk about how you want something with more variety where no transaction is the same. Would sitll mention you family bankruptcy, but use it as a spark that got you looking into rx and doing research about rx and then what you acutally learned about the group as why you are interested. 

 
Funniest

Rerum eligendi consequuntur odio eos. Beatae error quo eaque rem a voluptatibus odio quia. Et et aut eum dolorum eos et.

Nihil laboriosam quibusdam et ullam aperiam. Ut voluptas consequatur omnis sit non. Maxime quo quasi quas dolores. Est quo nostrum qui neque. Ratione harum asperiores enim sit voluptatem aut.

Career Advancement Opportunities

May 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Lazard Freres No 98.9%
  • Harris Williams & Co. 25 98.3%
  • Goldman Sachs 17 97.7%
  • JPMorgan Chase 04 97.1%

Overall Employee Satisfaction

May 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.9%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 04 97.1%

Professional Growth Opportunities

May 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.9%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

May 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (21) $373
  • Associates (91) $259
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (68) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (147) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Secyh62's picture
Secyh62
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
dosk17's picture
dosk17
98.9
6
kanon's picture
kanon
98.9
7
GameTheory's picture
GameTheory
98.9
8
CompBanker's picture
CompBanker
98.9
9
DrApeman's picture
DrApeman
98.8
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”