Wondering if it's worth to take a slight haircut on comp to do RXco at Alix/FTI. Not sure how the pay scales as you become more senior, but I'm assuming it's notably lower than banking/management consulting at higher levels?
In the long term, I'd assume it makes sense if you want to go to PC/distressed credit? Any thoughts on either staying for a career or making an earlier exit?
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Most of my friends who exited to RXco did it to spend the rest of their career there. It's an industry that people get into as an exit, not a stepping stone really, since all other exits from there have some sort of tradeoff (comp, wlb etc).
As one of them put it, it's one of the only careers that pays similar or close to a wall street banker, gives you the lifestyle of a tech worker, and scales into the equity of a business owner, at the right firms
What additional detail can you share on that?
On what part specifically?
In short though...
The pay: Bankruptcy / restructuring is expensive. Everyone gets paid well but the consultants get paid extremely well, since they effectively end up being the company / running the company. So calling them "advisors" massively understates how involved they are and how much work they have to do, and how important their role is. If you're at a shop that pays based off billable hours, you're raking in the cash.
The lifestyle: Caveat that it depends on the shop but in general the work isn't consistently brutal hours unlike in IB / PE. It may be due to the culture the industry has created, where there is much less performative modeling / firedrills unlike banking, and the nature of the work itself. So in the medium to long run it normalizes to around 40 hours per week. There are still brutal periods but manageable since the weeks following drop down. Much easier to have time to do stuff outside of work.
The equity: 1) ties into the billable hour / profit share comp method. You are essentially getting a portion of the revenue you bring in, which is the best type of comp method in my opinion. And generally at senior levels you get access to partnership profit pools.
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