RX FT Recruiting - Teams to Target
I know there are some great resources on the process broadly for all FT recruiting (timeline, approach, etc) but curious about any insights on what groups typically recruit or don’t run a process.
Incoming in LF at one of the groups that model (lower BBs, Jeff, RBC etc). I’m interested in the exits that come with being in a RX group and am not opposed to targeting a T2/T3 platform if it gets me where I want to go (like a Piper/GLC or such). Obviously would prefer a top platform if I can get looks but understand many SAs are in process to “upgrade” (GHL > PJT, DUC > EVR, etc) and don’t think my profile is as competitive.
Based on the most helpful WSO content, here’s what you need to know about RX FT recruiting and teams to target:
Top RX Platforms: If you're aiming for the best exits and top-tier platforms, focus on elite boutiques (EBs) like PJT RSSG, Lazard, Moelis, and Evercore. These groups are highly competitive but offer unparalleled exit opportunities into buyside roles or senior restructuring positions.
Mid-Tier and T2/T3 Platforms: If your profile isn’t as competitive for the top EBs, consider targeting strong mid-tier platforms like Houlihan Lokey (HL), which is a leader in RX, or Duff & Phelps. Additionally, smaller boutiques or spin-offs from top firms (e.g., ex-Houlihan or ex-Lazard teams) can also provide solid RX experience and exits.
Big 4 and Advisory Firms: For a broader net, apply to Big 4 firms (e.g., Deloitte, EY, PwC, KPMG) that have RX or Debt & Capital Advisory teams. Firms like AlixPartners, FTI Consulting, and Alvarez & Marsal (AM) are also strong players in the RX space, though they often favor experienced hires.
Smaller Firms and Regional Players: Don’t overlook smaller firms like Grant Thornton, Baker Tilly, or BDO, which sometimes have RX teams. These can be good entry points if you’re looking to break into the industry and build experience.
Networking and Casting a Wide Net: RX is a small and highly sought-after space, so networking is critical. Many spots are limited (1-3 positions per group), and competition is fierce, especially in the current economic climate. Reach out to alumni, attend events, and leverage LinkedIn to connect with professionals in RX groups.
Transitioning from M&A to RX: Transitioning from an M&A background to RX is possible, especially if you can demonstrate strong modeling skills and a genuine interest in restructuring. Highlight any relevant experience or coursework that aligns with RX work.
By targeting a mix of top-tier, mid-tier, and smaller platforms, you can maximize your chances of landing a role in RX and positioning yourself for strong exits down the line.
Sources: Thoughts on Restructuring Groups?, Accept mid-tier BB Offer or continue recruiting?, Top Restructuring Groups 2019 & Restructuring Questions, Internal Lateraling Guide, Recruiting for RX FT after M&A virtual internship?
Wouldn’t recommend doing RX just for the exits - 2 years is a long time to do something you aren’t interested in
I’m interested in it, that’s why I self selected LF lol. And proposed why joining a more niche shop would be of interest (as opposed to those obsessed with a PJT/EVR)
Molestiae ipsa aut tenetur enim adipisci nam praesentium. Est id aut necessitatibus ab voluptatem odio. Facilis rerum aliquam maxime cumque aliquid eaque saepe. Sapiente aut at necessitatibus doloremque commodi. Ex provident quas eligendi odio quam molestias.
Error explicabo consequuntur molestiae beatae et. Molestiae nostrum laboriosam et quidem aut voluptas. Ullam dolores itaque sint rerum soluta. Temporibus eveniet tempora odio natus. Et quasi omnis rerum temporibus nesciunt voluptatem itaque.
In labore ut et voluptatem fugiat. Aperiam unde ipsa quas non doloremque in quae. Voluptates tempore unde reprehenderit in aut voluptates. Autem deleniti magnam modi commodi. Nulla a ducimus excepturi quis illum dolor itaque.
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...