RX Consulting Interview
Anyone have insight into RX consulting interviews? This is for Berkeley Research Group. I have 7 years of experience (FP&A, some M&A experience). Will there be an excel test? What technicals are common? Appreciate any help.
Bump
Two bump
Anyone?
Work at a similar Rx firm. Largely depends on your level as far as the difficulty of the excel test (but I’d expect there to be one).
if I were you, I’d prepare as if the interview was some hybrid of the accounting knowledge required in an IB type interview, and the casing testing required of a more strategy consulting type interview.
that’s not to say you should prepare for both BB bank level interview Qs and MBB level casing difficulty-wise, but there will be flavors of both
Interest in restructuring in general is crucial
good luck
Thanks! Do you mind elaborating on the type of work you do? What's something I should know that would make me stand out?
Ranges widely based on engagement circumstances
Cash flow modeling, business plan projections, historical analysis of the business as it relates to key stakeholders (& their negotiations/situation)
Stand out by knowing your technical shit inside and out, bringing humility to the interview and having a credible story as to why you want to be in the field
Hard to fake this or prep for it, but familiarity with the BK process would make you stand out immensely. Go through a disclosure statement and read the business plan. Go through a DIP motion and read the budget. Understand the role of first day motions. Read a first day declaration. Familiarize yourself with a particular case, the circumstance, key parties.
Super high level but that could demonstrate your interest in the field. Stuff is all public after all, and some first day declarations are pretty darn interesting simplifications of a business’ operations (see voyager, Celsius if you want novel crypto reads
What kind of public information in specific would you recommend others look into for Rx CO technical prep?
Good question. The most real “public” technical stuff you’re gonna find is in a DIP motion / financing motion called the DIP “Budget”
This is a thirteen week cash flow model, and this is typically where you will find cash flow projections on the docket. It’s a PDF’d excel model. The judge has to sign off on these projections for the debtor to access the financing, so this is particularly important public technical stuff
Just interviewed for and accepted a role at a competing boutique RX firm.
My interview was a case study in which I needed to build out a cash flow model. Would recommend studying up on 13 week cash flows, familiarizing yourself with corporate loan terms and common amendments, and understanding the logic behind accounting
Thanks. I haven’t found a good 13 week cash flow resource. Any recommendations? What are some common loan terms?
Honestly I wasn't really able to find good modeling resources either. I downloaded a case study/template from WSP or something which helped to see the mechanics of the model.As for loan terms, make sure you know different types of loans (term loan vs delayed draw term loan vs bridge loan vs revolver, DIP). Common amendments might be extending the maturity, PIKing the loan, debt for equity, etc .And get creative with ways the company can generate cash based on the company's financials (drawing on revolver, stretch AP, hold off on cash dividends, asset/business sales)
Wall Street Prep has a 13 week cash flow course. I haven't take it, but from what I can glean, it seems well laid out and comprehensive. If you can afford it (~$400), I'd try it out.
was this for a summer internship?
This is for a Senior Associate position
Thank u boss
Fasho, good luck on the interview
I don't mean to hijack OP's thread but I'm in a similar boat - interviewing for an Associate role. Would love folks' insight on a handful of old case study questions I'm preparing with. 1.) Calculate the dividend to be paid to shareholders of a company given some historical financial statement line items. 2.) "Borrowing Base Test" Given assumptions e.g. AR advance rate 80%, Ineligible AR consists of invoices aged over 90 days, etc. Calculate the impact on cash and availability 3.) Calculate implied EBITDA given a summarized 13-week CF data
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