Which would you take for RX (banking vs consulting)? Is Lazard still as top of the street as it once was, in which case that would be the better choice? Which would provide better experience? Planning on applying to both.
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Lazard RX lost some solid MDs past couple years. Still a great place to be. The scope of work at Alix will be different.
Could you elaborate on the scope of work comment? It was my understanding that RX co and RX IB are two sides of the same coin
Such a false narrative (lost some solid MDs) lol. Anyone familiar with the situation knows the opposite is true. Group is in a great place nowadays, contrary to what is posted on this site
X
Laz RX is pretty meh nowadays, probably in line with Gugg RX if judging by mandate quality recently
Odd comment given that Gugg has been doing pretty well / at the very least punching up
Curious here, what makes you say this?
Definitely take Lazard if you are planning on a career in finance, these are very different jobs, regardless of the trend of Lazard's RX group
If you want to exit to PE/HF then the choice is pretty clear.
You don't even have offers so what is the point in this random comparison
Not gonna talk about where Lazard stands right now, that's not my wheelhouse. But in terms of experience, it really comes down to what kind of work you want to be doing day-to-day. Lazard RX is more classic banking, debt advisory, creditor negotiations, Chapter 11 stuff. Alix is more operational and hands-on, especially in distressed situations, so you might find yourself in the weeds helping companies fix their business, not just capital structure. This doesn't mean that Alix has no financial engineering etc, it does, but less than IB or creditor side RX consulting. Both open doors, but Lazard might edge out if you're set on staying in finance or jumping to PE, while Alix gives a broader skillset if you're eyeing C-suite ops or turnaround roles or distressed buyside ops down the line
Alix does not have anywhere close distressed/SS buyside exits to laz rx
Would agree for investing roles, for ops though, the people who wanted to make the jump generally did. IB also has established pipelines into PE, RX consulting doesn't on virtue of it being an exit itself, and the amount of consultants who try to make that jump is significantly smaller than bankers
Would argue Alix is much more ch 11 focused than Laz or any rx banking group. That’s how they make their money, actually prepping and running a co thru BK, CRO, etc. IBs will get txn/outcome fee regardless of in or out of court, if anything things are leaning less out of court these days.
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