Hey guys, looking for some information on what generally happens to the EB restructuring groups during a recession in terms of hours, bonuses (part of overall firm or RX group?) , job security, etc. I'd guess that they do well, but would be awesome if people in the industry could comment. Thanks!
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Trust me, you do not want to work in RX during a down cycle. Due to the nature of the restructuring industry because most companies are in a do or die state, turnarounds are extremely fast and the transaction must be closed ASAP as all sides of the deal are firefighting. I worked in restructuring during the up cycle and still got crushed often. I can’t imagine what it’ll be like in the upcoming recession.
Bump.
Side question but if we are at an EB this summer, could we switch to rx? especially now since it looks like we are entering a big downturn.
Currently at an EB M&A/RX platform - seemingly overnight a large portion of our M&A mandates either got put in a holding pattern or did a 180 to restructuring / liability management.
Good amount of fire drills and it's all hands on deck at this point. Hours for me over last couple weeks have been around 80, but that's skewed by WFH. Not worried at all about job security (knock on wood). Bonus discussion is TBD and will depend on the structure of the respective firm.
Moelis? They're the only bank I know that has a joint M&A/RX platform.
Clearly played myself there - yeah. Feel pretty confident on the positioning of the firm right now.
Crazy hours, whilst the bonus depends if they are able to successfully finalise the restructuring for their client. EB with top rx team are probably going to excel this year
For EBs that don't have a joint M&A/RX program, do the m&a teams (Analyst to MD) assist on Rx mandates? Or do they focus purely on strategic alternatives and capital raises?
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