Relevant Experience for Rx?

Private Credit is more common

Working in any type of M&A function 

I’d argue rx consulting in general is more relevant to the rx banking job. Bankers work across rx consultants on almost all Chapter 11’s and involved liability management transactions, whereas only special situations private credit firms are repeat counterparties (regular-way sponsor backed private credit is occasionally involved when a portco is doing poorly, and in those cases the workout team would interact more heavily with rx bankers). A private credit internship experience would make the rx banking pivot more convincing if they’re frequently involved in restructuring situations or you’re on the workouts team. That being said, if FT recruiting doesn’t work out, private credit is probably a more appealing seat than rx consulting 

Depends on what you mean by private credit? Is it super vanilla plain Jane deals? Or are you being a bit more opportunistic.

I’d say private credit would be better