Hi all,
I'm an incoming Rx Consulting intern at a Big 3 Rx firm (FTI/A&M/AlixPartners) as a junior in undergrad. I'm very, very fortunate to have this opportunity but can't help and think about full-time conversion returns.
I'm sure over the last year or so, hiring for restructuring/turnaround was very necessary and so more likely than not many firms began increasing recruiting. Now, based off Rx slowdown, it seems that there is a lot of pitching and not a ton of work to be done (or as much as last year). Should this be something to concern myself with?
It would be nice to see how people think this'll impact full-time. Does anyone have any advice for this situation? Would it be recommended to begin/continue networking with individuals in the Rx space (i.e. speak to Rx IBs, other Rx consulting firms, even something like McKinsey RTS, BCG TURN, e.t.c.)?
Really appreciate all the help and insight!
*Posting this in both consulting and IB in case Rx bankers and others have suggestions
bump
I work in Rx/distressed space - wouldn't be concerned. If anything, they will extend less 3rd year offers in the future to make room for your class (not sure if this is the same in consulting). Given the SPAC boom, there's still a lot of work expected around the corner, even if it's requiring a bit more creativity these days. I'd still recommend pursuing Rx if it's of interest to you. When cycles turn, it's a lot easier to go from Rx to M&A than the other way around.
That being said, I am seeing some headcount reductions at some distressed buyside shops, and some others having to flex mandates to deploy capital; however, you're still a ways off and wouldn't worry about that. Good luck!
Good to hear! I appreciate that.
There's a more robust thread over here:
Rx Slowdown? Outlook?
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