Currently at a non-target and trying to break into RX. I’ve read through most of the recommended materials (Moyer, RestructuringInterviews, Gatto), but I’m still not sure how to best approach networking for RX. Since my school doesn’t have any alumni in RX, all of my outreach has been purely cold emails, but I haven’t gotten any responses so far.
Would appreciate any advice on how to make my emails stand out without coming across as overzealous.
Thanks in advance for the help.
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To make your cold emails stand out and improve your networking efforts for RX, here are some actionable tips based on the most helpful WSO content:
Personalize Your Emails:
"Hi Name, I recently came across your work on [specific project/article] and was really impressed by [specific detail]."
Keep It Short and Focused:
Ask for Advice, Not a Job:
"I’m currently exploring a career in RX and would greatly appreciate any advice you could share about breaking into the field."
Timing Matters:
Follow Up Strategically:
"Hi Name, I wanted to follow up on my previous email. I understand you’re busy, but I’d still love the chance to connect and learn from your experience in RX."
Leverage LinkedIn:
Build Genuine Relationships:
Numbers Game:
By implementing these strategies, you can increase your chances of standing out and building valuable connections in the RX space. Good luck!
Sources: Cold email networking while employed?, The Best Networking, Cold Calling and Cold Emailing Posts on WSO, 5 Steps To Becoming A Rockstar Freshman (Undergrad Advice), Graduating without a job offer, Cold Emailing/LinkedIn Messaging
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Are they actually? I always thought they would be a bit more interesting to speak with since their work is more stimulating
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When's a good time to start cold emailing?
Bump
I would say to keep cold emailing and broaden your search beyond just a few shops and offices, as well as to maybe more senior people (thinking of associates and VPs if analysts are not getting back to you). Timeline-wise you are a little ahead of the curve but as school starts, networking should pick up!
Thanks for the advice. I've been reaching out to all of the banks that I know have RX groups. I’ll definitely be reaching out to more seniors going forward. I was also curious if having a longer email for people in RX is fine. I don’t want to come across as overzealous over email, but I know some of the guides mention that you should still show you’re somewhat knowledgeable about restructuring. Thanks again for the advice, I really appreciate it.
In my opinion, flexing your knowledge on the email might not be the best approach to demonstrate interest in the space. Instead tailor a brief one liner about your interest in restructuring to attach to emails, and when you’re on the call ask questions that make it clear that you know what you’re speaking about. For example, instead of asking “what’s a day in your life” you can use “how does the work at the junior level differ on debtor vs creditor mandates”
Spread your eggs. Rx at the end of the day is LevFin pro-max
I've also been reaching out to people in Levfin. I’ve found that bringing up technical topics I picked up while studying RX usually goes over well.
Your best bet is to keep emails short. Briefly mention your interest in restructuring and ask about one specific experience from their LinkedIn. If your resume/background are interesting enough, you will get replies.
From there, be prepared to talk about a deal you've been following or trends in the Rx space that you find interesting.
I would take advantage of the Pari Passu newsletter or Petition for trends/deals to talk about, rather than mentioning outdated information from the Restructuring Interviews guides. I have found that the blogs on the Restructuring Interviews website, especially the more recent ones, are a great resource.
From there, the general networking principles apply to Rx too. Continue conversations by asking follow-ups rather than rattling off prepared questions and remember to be personable. Once you have 1 good call, most Rx bankers I've talked to have been happy to refer me to friends at the same firm/other firms, so each and every call counts.
Good luck!
Thanks for the advice.
I’ve been reading a lot of the Pari Passu and Petition articles, and following this website I found called Reorg/Octus, so I think I’ll have some good questions to ask bankers if I get a call.
I’ll definitely make some changes to my email template though.
Thanks again!
I landed an FT position after a late pivot during sophomore recruiting - went for a credit junior internship since it was too late for Rx. Also at a school with very few Rx alumni. I assume you're a sophomore?
For FT, my cold outreach email was basically "I'm a junior/rising senior at XX university with an XX GPA (if very high). After XX internships in (adjacent fields), I'm trying to pivot to rx and learn more about XX bank." It's tough as a sophomore, but keep the email super short and just highlight the most powerful points. 2-3 sentences max, including the ask.
Ask for 10 minutes to chat instead of 30. During the chat, check in at 10 minutes - if it's going well, they'll keep talking to you, if not then you can wrap early. Also - FOLLOW UP ON EMAILS. If someone doesn't respond, email them back on the same email chain ~ once per week for the next 2-3 weeks. Got that piece of advice from an MD - he said that often bankers will file networking emails into a folder and hit them when they have time. The ones with 2-3 messages are more worth a response.
Just the stuff that worked for me. Best of luck!
Thanks for your advice
I’m a sophomore right now, so I’m starting to look ahead toward SA ’27 recruiting. I’ve been using a longer template with my “why RX” in it, but I’ll keep it shorter like you suggested. Thanks again, and best of luck to you too as you start FT.
It’s August, and sounds like you are a rising sophomore? You will get more results if you start reach out in October. Most people are on vacation & will consider it too early to be speaking with you. Generally think best way to reach out will be to (a) mention some deal the firm just closed that you are interested in, (b) make sure to mention a variety of times that work for you to speak with them, and (c) attach your resume to your outreach email.
Good luck!
Thanks for the advice.
I agree it might be a little early, but my thought was that bankers will probably be hearing from a lot of students from their schools in October, so I figured I might catch a few people before their inboxes get too crowded. Not sure if that’s the right approach, but I’ll definitely start including times I’m free and referencing deals I found interesting in my emails.
Thanks again!
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