RX, PCA, or M&A
Would love to get some color on differences on day to day work, skill set, exit opps, and which is better to recruit for
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What are your interests in working banking is it for exits???
If so go M&A and only go RX if distressed debt/special sits interests you. You can get secondaries exits from M&A
I’d say my interest are more so skillset than exits.
M&A (focusing on coverage/industry groups) = more focus on client work (developing relationships w companies / PE firms by putting useless decks in front of them); potential to start developing industry knowledge (buzz words, themes, typical comps, etc.); depending on group, can be less modeling intense (reliance on dedicated modeling team / cookie cutter shells that u punch assumptions into)
RX = no industry expertise, little to no client work (only pitch when actionable), tends to be more technically rigorous / modeling intensive experience (deal with different instruments, more variety in deal types, etc.)
Chose M&A of u want a head start on a specific industry or distress/ credit essed bores u (which it does for many ppl); chose RX if u dont like a specific industry and want a more technically intense training experience (and like/ don’t mind distress/ credit)
Little to no client work for rx is not accurate, depending on firm and side of the deal you could be speaking with management/investors (and other professionals) on daily basis.
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