Turnaround restructuring consulting information
This area or consulting intrigues me but seems mysterious. How does one break into turnaround and restructuring consulting in the uk once graduating, it seems like there aren’t a lot of graduate schemes available (that is the consensus). What are the tiers of shops? What else can you tell me about it such a wb balance, comp etc.
Ah, the enigmatic world of turnaround and restructuring consulting! It's like a high-stakes game of chess where every move can determine the fate of a company. Now, let's swing through the jungle of information and see what we can find:
Breaking into Turnaround and Restructuring Consulting in the UK:
Tiers of Shops:
Work-Life Balance and Compensation:
Remember, this is a field where you can make a tangible impact on businesses and even save jobs. It's not just about the numbers; it's about steering a ship through a storm and coming out the other side. If you're someone who thrives in high-pressure environments and enjoys problem-solving, this could be the playground for your skills. Swing on, future turnaround king or queen!
Sources: Top 5 Restructuring Consulting Firms 2020 (my opinion), Top Restructuring Groups 2016, Alvarez and Marsal -- Restructuring and Turnaround Consulting, Q&A: Restructuring Consulting, Thoughts on Restructuring Groups?
A lot of the accounting firms take restructuring and insolvency graduates e.g. big 4, BDO, evelyn partners, rsm, kroll (however the smaller firms are more insolvency focused). There are also consulting firms e.g. FTI, A&M, Teneo and Interpath Advisory (spin off of KPMG restructuring) who are very big. For most of their grad schemes you have to do the ACA qualification (accounting) which normally takes around three years.
In addition there are boutique banks that do purely financial restructuring e.g. Moelis, Houlihan Lokey if you are interested.
In terms of ranking (not official, just an attempt)
Tier 1: A&M, FTI and PwC
Tier 2: EY, Deloitte, Teneo and Interpath (Heard from a friend from PwC rx that Teneo and interpath are expanding rapidly taking people from them haha so won't be surprised if they start to compete with those in tier 1)
Tier 3: BDO, Kroll, Evelyn Partners
Tier 4: Other smaller accountancy firms
Comp depends on the firm as graduate schemes vary but from my knowledge once you are ACA qualified from big 4 a lot get poached by the likes of A&M, FTI and you will get higher total comp especially bonus. Grad base won't be that high probs 33k+ for tier 1
WLB is not that bad depending on the project, typically 50-60 and if really busy it can be more. Hours can be less tbh, again, depending on the firm & project.
Hope this helps mate, feel free to pm if you have other specific questions.
Thank you very much for taking the time to help, that was really insightful :)
I have a summer internship in the crisis and disputes team of a top 10 uk accountancy firm (grant Thornton, Mazars, BDO etc). Comp is 33.5k (which I now realise is relatively high for the sector I guess at the entry level) and within the crisis and disputes department is restructuring, which I think is the most appealing career path as it also has decent exits ops (distressed pe if you work at the big three).
Congrats on the internship! It's a good team to learn from in terms of technical knowledge and you probably have to do the ACA if you convert, which is a useful qualification to have. When you say big three what do you mean? MBB?
Add Berkeley Research Group (BRG) to the top firms list. They're becoming a big player. I think stole some FTI talent.
Not sure what your definition of becoming is, but they're already well established, especially in consumer & retail.
As well as a number of high profile UCC cases.
But to your point, you're somewhat correct in that former FTI folks left to join / found BRG.
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