Restructuring from Nontarget
Hi all,
Currently a freshman at Nontarget in club that has 100% FO placement, mostly at BBs though.
Ideally want to go into restructuring, as it unironically interests me a lot and I've been reading a bunch about it (HL Case Study, read Whitman now reading Moyer, etc.).
Is it even possible, or is Rx p much just the cream of the crop from targets?
Yea man go home that path ain’t for u
Don’t listen to the haters. Got into a top group (PJT/HL/EVR) out of a non-target (STEM background)
The biggest tips aside from the obvious (high GPA, networking, and general prep) would be to get a solid freshman internship and/ or a part-time one during your sophomore year.
RX Interviews and Petition 11 are probably the best resources to get started with. Don’t stress too much about Moyer post chapter 4 and focus more on current news/ rationale of recent rx deals. The ig page __restructuring is really good too.
major bump....... +1 SB. Just landed Tier 2 RX shop from semi-target. 99.9%+ of my knowledge can be attributable to RestructuringInterviews/.com. For "tell me about a deal" I bought a 1-month Petition 11 subscription and knocked it out of the park. Skimmed Moyer and think it should be used as a primer for freshmen to ensure they're genuinely interested in RX - aside from name dropping Moyer once or twice, it was not particularly helpful. Although, some will swear by it, so I'd definitely look over it prior to recruiting ramp-up sophomore year. @Restructuring__ on Insta is ok. TBH 90% is useless for recruiting though (feel free to gander, but I'd focus my intensive prep on RestructuringInterviews/.com). Re: internships, I did consulting my freshman year, and built a coherent Consulting -> IB/RX Story. No other finance relevance on resume aside from 1 or 1.5 clubs.
I'd highly recommend prepping and networking early. Being able to hit the ground running (re: networking) Fall semester of sophomore year will (practically) guarantee you an RX internship (if you're normal and can do good on behaviorals) and will set you leagues ahead of your peers in terms of getting the Round 1 interview. If you can do Call #1 in Oct/Nov, Follow-up Call Jan/Feb, Follow-up Email Feb/Mar, you'll have people pushing your resume through. Then, nothing else matters except you and your preparation. Your goal with netowrking is to get your foot in the interview door, since you will have 0.1% likelihood of being competitive enough to not network and get R1. The networking will require you to be somewhat coherent about RX conceptually, which is why I recommend prepping early. I'll breakdown my recommended study prep below:
1 Houlihan Lokey Case Study "Buying and Selling the Troubled Company" - free pdf online
2 Moyer (glossing over a few relevant chapters) - free online
3 RestructuringInterviews/.com - $30(?) one time payment
4 BIWS Guides - can find free online or ask seniors at your school / WSO for them
5 Petition 11 - if you have fuck you money, wouldn't be a bad idea to purchase $55/month subscription, but is not necessary and would only recommend for Feb/Mar of spring sophomore year
[6] Any RX/Distressed Primer you can find online
R u diversity? This is extremely rare
Bump
..
This. Was at a non target and got into a top rx group too. For places like HL networking matters. EVR not so much for Rx. My biggest advice is to keep your gpa high and stack your resume with debt/rx related experience. Don’t be discouraged though if you don’t get it your first try. Just keep trying and you will eventually succeed
This. If you could somehow get a credit related internship at a somewhat name brand shop for sophomore summer, you will be in good shape for telling your story and appearing like you will hit the ground with experience.
I made it to to a top Rx from a non target. Yes it’s possible. Just network hard. have a strong set of internships, and have your technicals down.
damn bro... so sick. your non-target club has 100% FO placement? fuck i wish i was you
.
Do you mind if I PM you?
Sure
Not gonna sugar coat, the top EB groups can be pretty elitist and ur gunning against unwashed sweaty hordes of Wharton kids. There’s still space for some shots on goal there if you are persistent and show well in some networking calls, particularly if you get ahead of the curve (Dec/Nov).
As you look down the list, it’ll get easier but you still 100% have got to know your shit to even come close to a chance
100% agree. Wharton hardos are unbearable. And top RX groups are filled to the brim with them. If OP is genuinely interested in RX, other firms below the HL/EVR/PJT/LAZ like GUG/ROTH are very doable. Also Ducera, but their interview is impossible for any normal human being.
In some places like Ducera it may even be an advantage.
Another topic is whether you would willingly join Ducera lmao
It's doable, but be realistic/targeted at what groups you aim at, as a lot of the groups are very focused on schools and will not recruit from a non-target.
For example, someone posted the list of schools PJT RSSG had recruited from in last 5 years about a year ago, and the closest they went to a "nontarget" was Notre Dame. Some of the other EB groups are similar, so do some LinkedIn stalking and figure out who is open to non-targets to begin with. There are spots but you may need to be open to lower-tier shops.
If you can do something in debt/rx this summer or fall that will be a leg up.
Ducera is well-respected in rx and takes a lot of nontargets. I believe cofounder or some senior person was nontarget. However working there will probably shave years off ur life
Shaving years off life literally or figuratively?
Vel dolores ut quod repellendus corrupti. Debitis ratione quae vel magnam. Qui vel sunt necessitatibus minus. Et at consequatur maxime maiores non pariatur officiis repellendus. Modi molestiae harum nihil animi minima.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Eligendi ut error amet nemo eos. Reprehenderit excepturi sequi et a quisquam quae. Atque molestiae dolores maiores nobis a eaque. Ipsum voluptates non molestias et.
Et animi eos assumenda dolores eos enim qui. Architecto dignissimos perspiciatis tempore beatae voluptas architecto quasi. Unde minima libero dolorem excepturi praesentium quasi amet. Sit modi rerum enim eum expedita natus sint. Quo qui eum corrupti est aut a omnis.