Alvarez & Marsal reputation?
Thoughts on A&M Restructuring and Insolvency graduate. Any exit opportunities, salary, hours??? Thanks
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Based on the most helpful WSO content, Alvarez & Marsal (A&M) has a top-notch reputation, especially in the restructuring business. They are known for their great work and are considered best-in-class for restructuring/turnaround work.
As for the salary, the base pay might seem below average, but the bonuses can be significant. The firm is entrepreneurial, rewarding hard work and high performance. However, be prepared for long hours and expected travel.
In terms of exit opportunities, it seems that most people at A&M are lifers, especially in the restructuring and turnaround group. However, some exit opportunities have been observed, such as mid-cap private equity firms (not necessarily distressed) and senior executive roles in the industry.
As a graduate, you would likely start as an analyst, with the majority of your work developing an expertise in a business area, including 13-week cash flow models.
Remember, this is a challenging role, but it can provide you with both strong financial and operational skills. It's a solid option if you're interested in this field.
Sources: Alvarez & Marsal Restructuring, Alvarez and Marsal -- Restructuring and Turnaround Consulting, How is A&M perceived in the industry?, Alvarez & Marsal RX 2022 Reputation/Exits?
Based on the most helpful WSO content, Alvarez & Marsal's restructuring group is highly regarded and known for its excellent work. The base pay might be a bit below average, but the bonuses can be quite substantial. The hours are long and travel is often required, but the firm has an entrepreneurial spirit where hard work and high performance are well rewarded.
As an analyst, especially in the west coast area, you would likely spend a majority of your time developing expertise in a business area and working on 13-week cash flow models.
In terms of exit opportunities, it seems that many people at A&M tend to stay for the long haul, which makes sense given the firm's reputation and the rewarding nature of the work. However, if you're a junior employee, there might be other opportunities available to you, although the specifics aren't detailed in the WSO threads.
Remember, this is a challenging role that requires a lot of dedication and hard work, but it can be very rewarding both in terms of compensation and professional growth.
Sources: Alvarez & Marsal Restructuring, Alvarez and Marsal -- Restructuring and Turnaround Consulting, Alvarez and Marsal CPI (Management Consulting) Strength, Exit Ops, etc., Alvarez & Marsal RX 2022 Reputation/Exits?
You will not have the same exit ops as from IB, but you probably already know that. That being said, ops to PE-related work is very good. Plenty of A&M guys go to PE operations groups. Platinum Equity, Madison Dearborn, Audax, etc. are all examples of PE groups with operations teams. Similarly, you would have plenty of opportunities to business transformations-type roles in F500s as well as the numerous CFO-as-a-service/PEI groups (e.g., BRG, Accordion, Bridgepoint, FTI, Alix, Ankura). I am sure there are plenty more, but this is what I have experienced working with former A&M folks.
Damn - had no idea A&M could have PE ops exits like that. Shame they cut back drastically on FT recruiting this past year at the MBA level.
Don't know the alum personally but someone in recent years landed at A&M Rx. Heard their first year comp rivaled some of the investment bankers in their class. Probably the only consulting group I can think of that rivals IB comp. They're known to exceed MBB but the hours / culture is less appealing at A&M. Rx is probably the hardest group to get into as it's most sought after due to their sky high bonuses.
Buddy in rx cleared 300k as first year analyst
Was he in the 'IB' or consulting side of A&M?
RX consulting
There is no capital transformation advisory group, only consulting.
Above responses relate to the US don't get you hopes up. Starting salary is £33-35k base then £40k then £43k, with a bonus of around 10-20% depending on the year. Insolvency work involves far more bullshit admin stuff than you'd expect. It looks like a 'finance' job from the outside, but at least for your first year it'll be mind numbingly dull.
Finally a post about A&M in London. So is the whole bonus = % of your billables - base salary not really there in London? Pay looks very lucrative in US but unsure if it works the same way here
do you have any insights into their FIG / FSI M&A practice in London, in the context of both pay and culture?
What about analyst comp in PEPI?
Low(er)base, higher bonus than most places - and bonus entirely depends on team performance (PEPI are strong). Possible to ramp up faster than other places e.g. promotions every year if someone is exceptionally good.
Elite, one of the big 3 restructuring firms along with AlixPartners and FTI. When I interviewed, it was for a senior associate role. Not UCC, if this is the UCC group then take 20-30% off of all the #s here. UCC isn’t bad, just different/less management consulting and more WLB oriented. No travel. I picked a different firm, but only because the culture was a better fit for me personally.
Comp: was offered 170k base, A&M generally pays low base with very generous bonuses based on your billable (restructuring in general). They quoted me a range of 230 to 450k all in when I requested an estimate.
Exits I’ve seen are moving up, other practices, starting your own firm, a little bit of mmpe, distressed pe, pc, workout groups, syndications, investment banking (more vice versa), corporate, so on. Lots of exits since it’s a combination of complicated credit modeling, legalese and management consulting.
RX hours get pretty long relative to most roles, but if you were able to handle banking alright then it’s really not that bad. If you accept A&M in a role where you are billing to debtor mandates then you’re going to be pretty happy with your comp.
What do hours look like specifically? Will be joining one of those big 3 next summer
They are grinders. Ppl ik at rx fa shops range from anywhere to 2000 billed hours - 3500 billed hours + add 5% - 15% for business dev work.
AFAIK hours seems to be you can maybe get away working 50-60/week and be middle/bottom bucket or you can work 100/week if u wanna bring in that dough
could you expand on transitioning from rx consulting to banking? is it possible to intern in rx consulting and then recruit full time for banking?
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