Seeking Advice for Bankruptcy Lawyer to FinanceO
I’m a 33 yr. old bankruptcy/corp. restructuring lawyer practicing for 7 yrs. now at a midsized NYC firm where I’ve been able to get a lot of experience working on both big/high profile and middle market Ch.11s on both the debtor and creditor side and have worked a lot with claims trading issues. I’m trying to transition to finance as a distressed debt analyst either buyside or sellside at either a HF, IB or asset management group. I’ve already searched other WSO threads related to this issue and spoke with some analysts, traders and some former bankruptcy lawyers who made this jump. I’m taking some courses on modeling (I’ve already done claims analysis excel models for some Ch.11s), reading books like Moyer’s “Distressed Debt Analysis”, and trying to network as much as possible. I’m aware that DD opportunities are not great in the U.S. right now.
1) What else should I be doing?
2) I’ve been told that getting my MBA at this point would not be worth the expense even if I had the time. I’m not sure how I could study for the CFA while working 60-70 hrs per week as a lawyer and even if I could, would it help me enough to be worth it?
3) I’ve been told one of the most probable paths is to get hired as a DD analyst by a small developing fund. Can anyone recommend how to seek out funds like that?
4) Can anyone recommend a recruiter/headhunter that is used to placing people in DD positions like this?
5) Does anyone recommend a different path for breaking into finance considering my background? I’ve thought about fixed income trader, for example, but I don’t know if someone with my background would be considered for that or how I would have to start out. I’m also not sure if I should look into jumping to turnaround restructuring advisory groups like Houlihan Lokey or Zolfo Cooper (I’m not familiar with their compensation scales and I’ve been told they require a lot of travel).
I appreciate any advice.