Alvarez and Marsal -- Restructuring and Turnaround Consulting
I have a standing offer to join Alvarez and Marsal out of undergrad as an Analyst in their Restructuring and Turnaround Group. Can someone give me more information on what type of work I'll be doing? I understand much of it is mainly 13 Week Cash Flow Models, but is the work interesting? What is the lifestyle? Comp?
Also, what exit opps are there coming from an analyst position? Is PE attainable? How would you view this role, and is it worthwhile, for not just now during COVID but for the next 3-5 years.
I work in RX consulting for a competitor of A&M. It's a solid place. What city will you be in? Here is a flavor for what you'll be doing (although you should have gotten this through the interview process?)
Debtor Side engagements: 1. Travel M-R to client site 2. Work with their treasury group to forecast a 13 week cash flow and be the CFO's primary point of contact to everything related to it. 3. Build a business plan - Work with their business groups and FP&A to build an operational business plan that links up to a 3 statement model + liquidity forecast 4. Access opportunities, cost take out, funding needs 5. If the project heads towards a BK, there are a ton of other reporting / analysis you'll be doing to help prep (learn about the BK timeline it'll help so you know what the sequence of events are) 6. Help through the diligence process for potential investors / lenders 7. Party hardy at the closing dinner 8. Rinse and repeat
Typically there are a couple people on the team depending on size of the project. You might get a piece of a work stream or the whole thing...just depends. A&M like many other firms have different groups like PEPI or CFO advisory. Dont be shy to jump on one of those projects. I hate when I see an analyst only live and breathe cash flows - total hardo move.
To your second question on exit ops. I've seen it all. IB, PE, industry, other specialized consulting groups. It all depends on how you tailor your experience there. You will have great access to IB/PE/Industry folks and that network is your key.