RX Industry (Legal + Consulting + IB) Rankings. Accurate?
For my personal benefit, just decided to try and aggregate some other rankings I've seen on WSO regarding restructuring, would appreciate any corrections / insights. Didn't have the time to put all the firms on here, just some notable ones.
RX IB:
1(a): PJT RSSG
1(b): EVR RX
2(a): HL, MOE
(pretty sizeable gap here)
2(b): PWP, LAZ, GUGG, CVP
...and everything else
RX Consulting (RX Co.):
1(a): Alvarez & Marsal
1(b): AlixPartners
1(c): FTI Consulting
(pretty sizeable gap here)
2: BRG, Province, Ankura
3: Portage Point, M3, Riveron
4: Dundon, DS, SOLIC
...and the rest
RX Law:
- K&E, Latham, Weil, Skadden, Weiss
- Sidley Austin, Polk, Cromwell, Milbank
- Gibson Dunn, Greenberg, Vinson & Elkins, Ropes & Gray
- KBTS, Pachulski, Munger
Not like we needed the 1,000,000th RX ranking on this forum, but pretty accurate from what I’ve seen + recent league tables.
Great, thanks for the input
Can RX Consulting be lucrative? Also is the work interesting?
Arguably one of the most lucrative careers in the world of finance, other than quant or HF or a few select PE firms, for juniors and mid level professionals, at the right firms. And the work is pretty fun, had a guy from one of the above firms interview with us, and he mentioned flying to Aspen to do a physical count of a firms' inventory. And some other pretty cool travel stories about off the beaten path destinations. It's definitely not just sitting in an office in front of your laptop, even at junior levels.
At the right firms, yes and depends. At firms like A&M/Alix/select few industry-specific boutiques, these are some of the highest paid guys in finance. Based on the people in the industry I’ve spoken to, in terms of the work itself, it’s a mix of strategy, Capital Advisory, law, and FP&A/Accounting work. Would say most on this forum wouldn’t consider the FP&A-type work the most intellectually interesting, but if you’re someone who’s extremely detail oriented and likes to get into the weeds of a business’s operations from a granular level, then it’s the spot to be. If you’re someone who’s attention span is extremely dependent on high-level modeling and pro-forma, scenario-variance based analysis, you’d find some of the work pretty difficult to get through.
True, but would caveat the FP&A type work by saying that it depends a lot on the firm and engagement details; RX consultants frequently have to do liquidation valuations and 363 sale vals, for purposes of informing the court and creditors and company, and someone who goes in just expecting FP&A type work will be dissapointed. Again, not all firms, and not all situations, so would counsel researching well for anyone interviewing.
Would generally agree with this all. Caveat that Province does a shit ton of UCC work, so maybe a 2(b) category for them imo
Agreed
GD should be higher for law, pretty much have a monopoly on ad hoc group engagements
I wouldn't say they have a monopoly. They go toe to toe with Akin Gump and Milbank, but the latter two seem to have significantly more profitable mandates. Still No. 1 creditor shop by volume and defo top 3 by quality
Actually correct RX Law:
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