RX in London
Landed a London SA offer in LMM M&A for 2025 as a penultimate year student which I’m incredibly grateful for but I am really interested in RX IB (I would love to go into distressed investing in the future).
However, I didn’t even land interviews in RX. I’m thinking of applying to Summers again next year as a penultimate year student (by applying to masters).
Tips on how to maximise the chances application (such as the skills HR look for in a CV or the relevance of networking in London) season next year and insights on what other firms (other than PJT,HL etc…) also offer RX would be appreciated :)
Bump. I have the same question, landed MM but I wonder if I can pivot after during FT
Bump
For firms that offer RX other than HL / PJT:
Laz (fallen off slightly), PWP, MOE, EVR, Jeffries (v new from my understanding)
Honestly, don’t think there’s anyway to improve chances other than get good deal exp at your shop. Every intern I’ve seen in RX (outside of spring converts), usually has v good experience previously. Credit I’m sure would be helpful, seen a couple guys w previous SS / Opportunistic PC exp but most also have a solid M&A background.
Wouldn’t personally bank on RX bc it’s a v small pool of positions available. Apply alongside normal M&A apps in the recruiting cycle. Read Moyer or the RX guides in the meantime.
Thanks for your insight.
Would you recommend me to apply for SA or FT in that regard? I’ve been thinking of reapplying to SAs by applying to masters.
Don’t know many that have a FT RX position. Go for SA, most are final year undergrads or masters anyway. There’s some OCs opportunities asw, I think PJT and HL both have OC.
RX is very much based on previous experience as the above commentator put it.
Anything related to M&A / deals / RX in big 4 would also be of help.
A lot of applications nowadays in IBD advisory does now rely on previous experience (I have learnt this the hard way but it's good to know now) given the vast cohort of people with experiences.
Thanks, I think I have plenty of experience in corporate but not M&A which I will get next summer.
Did accounting and management consulting at Big4, so I hope I get at least an interview for next years applications.
Sorry to hear, but competing against extremely qualified EU students is a challenge.
Dw I did very well getting the SA position I wanted, the work I'm doing in this IBD SA is actually super interesting and I'm glad I got it.
The general path though I've seen to GS / MS / JPM IBD or HL / PJT / MOE RX outside of Spring Weeks is an OC and MM internship akin to European Masters' students. Once you have those criteria fulfilled, it seems to be a straightforward path that's dependent on the quality of your interviewing skills - it's just reaching that bar so you can say "I'm as good as those guys, here's my track record".
I've seen UniCredit GCM > GS IBD or PwC TAS (Regional) > JPM IBD so I'm not bothered: I like the internships I've got and am due to complete next year and I know I can leverage them strongly in my favour.
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