Depends on end goal. M&A is typically better for PE, but RX is better if you want to go to a distressed debt shop. Technical skills are different but just as hard to be honest, the only difference is M&A practice guides are more abundant that you can find just about anything.

 

How do people know so early on before any real experience whether they want to get into distressed debt as opposed to other high finance roles?

 

It's honestly about having a good sense of what these groups do and then trusting your instincts (though this doesn't always work out). Read the journal and see what deals you are interested in. Are you more passionate about mergers and synergies, or restructurings and sell offs.

 

M&A and RX are comparable to the difference between BBs and EBs, respectively. In reality, they're both technical, on the complicated side, and have great exit opps, but if you tell someone you work in M&A that doesn't work in finance, they're going to be much more impressed than if you told them you work in RX - It's like telling someone you work at Goldman vs work at Centerview.

 

Tbh I didnt even know what M&A was before recruiting. I think people just think of Investment Banking, which includes both

m&a banker gave me MS

 

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