London Rx WLB
Any thoughts on wlb for Rx across the London based boutiques? Are Roths, PJT, Lazard as sweaty as HL?
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Based on the most helpful WSO content, restructuring (Rx) roles in London boutiques like Rothschild, PJT, Lazard, and Houlihan Lokey (HL) are generally known for demanding hours, but there are some nuances:
Houlihan Lokey (HL): HL is often considered one of the "sweatier" shops in restructuring. The workload can be intense, with long hours being the norm due to the high volume of deals and the competitive nature of the space.
PJT Partners: PJT is also known for its rigorous workload, especially in restructuring. However, the firm is highly regarded for its deal flow and exit opportunities, which can make the demanding hours more palatable for some.
Lazard: Lazard's restructuring team in London is similarly demanding, with hours comparable to HL and PJT. The culture and workload can vary slightly depending on the specific group, but it's generally intense.
Rothschild: Rothschild's restructuring team may offer a slightly better work-life balance compared to HL, PJT, and Lazard. However, this can depend on the specific team and deal flow at any given time.
In general, restructuring roles at these top boutiques in London are known for their challenging hours, but they also provide excellent learning opportunities and career progression. If work-life balance is a priority, it might be worth exploring smaller or less competitive firms where the pace may be less intense.
Sources: RX scene in London/Europe, Investment Banking Analyst: A True Day in the Life, WSO 2022 Investment Banking Work-Conditions Survey (Part 1/3), Work/Life Balance: Equity Research vs. Investment Banking - (A Definitive Guide, Part 1), Wharton kids favor restructuring/distressed investing?
Didn't do RX at HL but I heard it is a bad culture there from prev interns (note though the RX intake for summers is small)
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Very sweaty but exits are ridiculous, literally 10 ppl or so left in the last ~15 months which is most of the junior team lol
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Prev interned w the team, culture is fine - people have lunch and dinner together, but rarely go to the pub as everyones pretty busy
A large amount of juniors who were all close to one another left, more so a result of a lot of hiring after / during Covid I heard - all to generally good spots
Exits have been good: Sona, CVC, Cross Ocean, Atlantic Park, etc.
Bro it's RX your wlb is going to suck in distressed years and going to be normal IB hours during bull years
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