Hi I am pursuing a career in IB, and I am either interested in M&A advisory or Restructuring activities. I know restructuring might not seem as glamorous as M&A, but I really find it interesting. Also, I have the feeling that it offers more job security (as in recession periods, restructuring divisions may have even more work). But, I would like to know how restructuring bankers are paid in top EB (Lazard, Evercore, Jefferies and Houlihan Lockey) compared to their counterparts in M&A in terms of both fixed salary and bonus.
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At the top firms you mentioned, they earn more.
I think one of the downsides of RX is that you have a more narrow, less transferable skill set. The pay, however, isn't one of them, especially at the aforementioned firms.
Narrow skillset also means more protected as there is less people with that specific skillset (ability to understand pretty much everything in corporate finance and a good chunk of corporate law). You do less client schmoozing people know you for your ability to provide the best advice - more so than in IB.
I don't disagree. Narrow isn't necessarily a bad thing either, but I could see how that was implied by the way I phrased my comment.
There is no actual 'IB skillset', it is a myth created by bankers to make their jobs seem special and their intellect unique. If anything, RX is a much better skillset imo
Lol, evidently some extremely sensitive and overinflated analyst and associate ego's being bruised...
Please note this is strictly anecdotal from my buddies in rx banking in NYC at some of the shops you mention, but given the current times they genuinely have decent work life balance as there just aren't that many rx mandates running thru the nyc offices right now.
Waiting for someone to try and flame me for saying rx could possibly have good WLB but hey like I said, anecdotal. I'm not sure what bucket these guys were (I know you monkeys were wondering) but two are A2A promos so definitely not the lazy types. My $0.02.
Comp is the same at analyst level with bonuses obviously dependent on group performance and individual performance. Just don't suck or be lazy and you'll probably do just fine. Analyst bonuses are usually capped anyway so it's not like M&A analysts on three closed deals with combined trxn value at 90B are going to earn a shit ton more. Differential will likely be minimal to be honest - more dependent on your class ranking
I'm sure work-life balance for RX bankers is about to be non-existent for the immediate future.
Go to Houston and clean up in RX. Massive wave of bankruptcies coming through the pipeline.
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