Dec 25, 2023

Rx Big Law to Private Debt

I'm a 2nd year associate in a magic circle firm based in Paris. I specialize in Restructuring & Insolvency. We advise clients across the capital structure and do a fair bit of financial restructuring deals. I am looking to lateral to a private debt or a special situations role (i.e., a finance role, not a legal one) in a London based fund (I would still be open to switch to the US market). For the sake of completeness, I have no prior business school education. What would be the best course of action? Do you think an MBA would be absolutely necessary? Do you think I can pull it off through networking only? Would the CFA help or would it a waste of time? More generally, do you think my profile would interest some shops?

3 Comments
 

Thank you for your input. Honestly, I am open to both. I had thought that I would still hold value for private debt shops given I know my legal piece, as much as a standard finance lawyer does, given how much the legal docs become scrutinized in the situations we handle. But I totally understand where you’re coming from. This being said, do you think that absolutely need to do an MBA for a distressed shop? Or do you think I can make the switch without it? Thank you so much!

 

Minus soluta neque mollitia aut. At nihil et alias sed est odit adipisci. Unde quia est eius repudiandae.

Career Advancement Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Morgan Stanley 08 97.8%
  • Goldman Sachs 02 97.3%

Overall Employee Satisfaction

August 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.4%
  • Banco Santander 02 97.8%
  • BMO Capital Markets 12 97.3%

Professional Growth Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.4%
  • Goldman Sachs 01 97.8%
  • JPMorgan No 97.3%

Total Avg Compensation

August 2026 Investment Banking

  • Vice President (16) $429
  • Associates (50) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (25) $178
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (75) $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
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
kanon's picture
kanon
99.0
5
DrApeman's picture
DrApeman
98.9
6
CompBanker's picture
CompBanker
98.9
7
Betsy Massar's picture
Betsy Massar
98.9
8
dosk17's picture
dosk17
98.9
9
GameTheory's picture
GameTheory
98.9
10
Jamoldo's picture
Jamoldo
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...”