Fortunate to be matriculating to a T15 MBA program. Planning on recruiting for investment banking. I am really interested in restructuring but I know how challenging placement is. I have 3yrs of valuation and transaction advisory experience at a reputable boutique. My work is mainly fairness opinions and general corporate buy/sell planning enagements for large sponsor backed private companies.
Is trying to recruit for restructing groups even feasible coming from a T15 MBA program (think Tuck/Anderson/Cornell/NYU)? Should I try to be more realistic and target M&A groups instead?
I took a look at most of the summer associates in PJT RSSG and the majority are Wharton and Harvard kids.
Would appreciate any advice. Thanks!
My memory's foggy on the details but I wasn't asked restructuring technicals at all from the Rx shops but more just really tricky share price calc questions from very limited variables/ratios and accretion/dilution logic questions.
Actually the restructuring questions I got weren't from the Rx shops but BB's; understanding the levers to pull in de-leveraging a company, levers to pull to increase EBITDA and lower the leverage multiple, improve interest coverage ratios.
Besides knowing 400 questions forwards and backwards (also the WSO guide is great too as a substitute if you don't have the 400 guide), I would play with some DCF or merger models and play with the inputs to understand changes can increase or decrease the valuation.
And don't underestimate behaviorals; I remember being asked, "what makes you think you'd work well with analysts?" "How would you handle a difficult analyst?"