RX consulting to RX IB?
hey, incoming SA at T1 RX (Alix/A&M/FTI) consulting shop. Interested in knowing whether anyone has made the jump from RX consulting to RX IB? Is it feasible to get into RX IB with a RX consulting summer?
Transitioning from RX consulting to RX IB is definitely feasible, but it requires strategic planning and effort. Based on the most helpful WSO content, here are some insights:
Transferable Skills: RX consulting at firms like Alix, A&M, or FTI equips you with valuable skills such as financial modeling, operational analysis, and working closely with distressed companies. These are highly relevant to RX IB, as both fields deal with distressed situations, restructuring, and turnaround strategies.
Networking: Leveraging your network is crucial. Reach out to professionals in RX IB, especially those who have made similar transitions. Coffee chats, LinkedIn connections, and alumni networks can help you understand the nuances of RX IB and position yourself as a strong candidate.
Recruiting Timeline: RX IB recruiting can be competitive, and top RX shops (e.g., PJT, Lazard, Evercore, Moelis, HL) often start interviewing early. Prepare for technical interviews by studying RX-specific modeling and distressed deal dynamics.
Challenges: While your RX consulting experience is valuable, RX IB roles may prioritize candidates with direct banking experience. To bridge this gap, emphasize your deal exposure, financial acumen, and ability to handle complex restructuring scenarios.
Success Stories: There are examples of individuals making this jump, but it often depends on the strength of your experience, networking efforts, and ability to demonstrate your fit for RX IB.
If you're serious about making the transition, start preparing early by refining your technical skills, building relationships in the RX IB space, and positioning your consulting experience as directly relevant to the demands of RX IB.
Sources: Recruiting for RX FT after M&A virtual internship?, Why You Should Consider Restructuring – Common Misconceptions/Insight on RX Groups, Choosing RX over M&A -- anyone recommend this?, Why You Should Consider Restructuring – Common Misconceptions/Insight on RX Groups, How is A&M perceived in the industry?
Bump...does no-one have any insights? All I'm aware of is that not many in the field want to make that jump.
It’s very easy, though not sure why you’d want to. Most of us think of their work as far less exciting.
This, with clearly no bias as someone currently in RX consulting.
Then why do some ppl on here say that it's extremely hard? If you asked people the feasibility of going from IB to PE, you'd 99% of the time get a consensus, whereas regarding the jump from RX consulting to RX IB its more 70-30, with the 30 saying it's extremely hard and the 70 saying it's easy. Why the extremes and the discrepancy?
some RX IB firms do not take RX CO whereas some are open to it, if you are thinking of going from RX CO to PJT RSSG then you'll be disappointed but if you target the so called non-tier 1 2 RX IB firms they might be fine with your background. Its a move that is done but is not as common likely due to choice and RX IB firms looking for IB background and there's plenty of IB talent available.
I disagree.
While there may be the possibility that some RX IB teams are against RX consulting backgrounds, I've personally have had 0 issues recruiting for well-regarded ones (i.e. Evercore, Lazard, among others).
Have also seen multiple instances of RX consulting folks get offers / move to "top" EBs in RX, including PJT. So not sure where you're getting your information from.
Less exciting and less rewarding, made much more in rx consulting (debtor side) than banking on average
Peak bonuses were better in banking tho
Hi, OP here. Could you please PM me? I have a few questions about it, and want to sanity check my reasons for wanting to do RX IB. Thanks!
Hey, I’ve asked myself the same question before, haven’t done a lot of in depth search on yet. I will say that logically speaking the transition could be pretty easy when still a student. An SA in RX consulting shows clear interest in the space and will have offered a nice intro to some of the dynamics (I say some since there is a very clear difference in the work done by bankers and consultants here), considering how unique RX is, I think this demonstrated interest and intro should be strong points for an RX IB application. Also, the summer might offer the opportunity to interact and network with RX bankers. End of the day RX consulting also includes a decent bit of accounting that may be recognised and help with interview technicals.
Would coming from a target / nontarget undergrad matter much for IB recruiting, or would the RX consulting exp take precedence over that?
also very interested in this- have offers from a&m/fti for sa as well as lower bb's (ubs/db). not sure on rx fulltime recruitment from these two- more interested in rx for my sa but unsure if this would make it significantly harder for me to recruit ft
debating big 3 offer vs banking as well lmk what u choose
Bump
Bump
I've had friends go from FT at FTI to IB and it didn't seem that difficult to do
I'm skeptical, maybe they were from a target MBA / target undergrad, or were some of the best in the restructuring consulting industry, or maybe they had prior IB experience, or even have some really strong connections in IB...
I'm guessing it wasn't to top RX IB, more likely boutique / MM? Also, did they have to apply to a bunch of banks before they got one, or was the success rate higher?
They went to an absolute no-name undergrad, no MBA, didn't have any prior IB experience, nor especially strong connections beyond what anybody can do themselves through LinkedIn networking
The IB wasn't a BB, it was one of the more notable EBs / MMs
I don't believe they had to apply an especially high amoutn before they got an offer
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