Prep for RX SA

Based on the most helpful WSO content, here are some key steps to prepare for an RX (Restructuring) group internship, particularly focusing on the modeling aspect:

1. Excel Modeling Proficiency:

   • Develop a strong handle on Excel modeling. This is crucial and the most important skill to master.
   • Learn all the basic shortcuts to improve efficiency.

2. Financial Modeling:

   • Ensure you have a solid understanding of 3-statement modeling.
   • Practice building models from scratch and running DCF (Discounted Cash Flow) and comparable company analysis to get valuations in multiple ways.

3. CapIQ and Other Databases:

   • Familiarize yourself with CapIQ for running comps and transaction searches. If your school uses another database, get comfortable with that as well.

4. Business News and Industry Knowledge:

   • Get into the habit of reading business news daily (WSJ, Barrons on weekends, FT).
   • Follow the industry relevant to your group, such as restructuring, to stay updated on current events and trends.

5. Networking and Deal Awareness:

   • A month or two before your internship, reach out to an analyst or someone you know in the firm to understand the deals they are working on.
   • Follow the news related to these deals to avoid asking obvious questions when you start.

6. Note-Taking and Summarizing Skills:

   • Develop a good habit of summarizing notes. This skill is highly valued by VPs and below.

7. Training and Responsibilities:

   • Be prepared for a generalist training followed by RX-specific training before getting staffed on live deals.
   • Try to catch up as much as possible before the second-years leave, as you will be given more responsibilities during that transition period.

By focusing on these areas, you can enhance your preparation and increase your chances of performing well in your RX group internship.

Sources: Why You Should Consider Restructuring – Common Misconceptions/Insight on RX Groups, Why You Should Consider Restructuring – Common Misconceptions/Insight on RX Groups, Advice on recruiting for Rx groups Post-MBA, How to prepare for summer ASSOCIATE internship, Advice on how to perform well during a virtual summer internship