This is a pure hypothetical for personal reasons, but assuming you worked like 60 hours a week at both (PJT & Alvarez & Marsal RX), how much could you earn? I know in real life hours can vary and all that, but for simplicity assuming 60 hours constant per week over a year.
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You’re neverr gonna work 60h a week at either of them anyways, so why does it matter
So I know you said hypothetically but couple of notes:
If you tried to work 60 hours a week at PJT for a year you most likely won’t be working there for long. Same goes for any reputable IB. PJT does pay at the top end compared to other IBs so there’s a low chance you’ll make better than they pay unless you go to a niche firm like Dyal etc and get even worse hours.
Now with that being said, how you’d get paid at both:
PJT RSSG: Assuming a world where you aren’t fired and they keep comp the same as if you’d worked street hours, around $220k, maybe $240k assuming 100% bonus which you shouldn’t always count on. For context this is essentially top of the range in IB, very few firms can beat that.
A&M NACR: Between $280k - $351k depending on how much of the pie you get, and assuming you bill for 52 weeks, and are staffed. At A&M, the more you work, the more you get paid. More or less top of the range for RX consulting, though I’ve heard rumors of some smaller RX consulting firms planning on experimenting with a higher share of the pie for An1s than A&M gives, so in theory higher comp, but that hasn’t happened yet to the best of my limited knowledge. Quick heads-up: in slow seasons you might get benched and work zero hours for a while, but you’ll still get your base plus a decent bonus, basically paid to chill ( people usually take vacations, work on getting professional qualifications, personal improvement, whatever). It’s obviously less than IB during those stretches, but no one’s really complaining about getting paid to do nothing, even if the base isn’t huge.
So in summary, at A&M, the lows are low but the highs are high? Like if you have no work the con is your pay is less than IB, but the pro is that you're doing nothing, and if you're actually staffed, pay goes up proportional to the hours you work
Correct, that's a good way to put it. Will caveat this by saying the above doesn't apply at the CRO level at A&M, obviously. For reference, heard through the grapevine that a cro on one of a&m's bigger deals made around $30m just off the deal, so the economics are different at that level.
Fair take
What does NACR and RSSG stand for?
NACR = North American Commercial Restructuring
RSSG = Restructuring & Special Situations Group
Got it. So is the US and Canadian RX ppl the only ones who can be called NACR (since it's north american)?
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