What are the exit opps for Big 4 UK Restructuring and Turnaround?

Copying from my response on another thread.

Exits opps for Big 4 in Europe/ UK are far better than the US. Lots of IBs look for recently chartered ACAs to replenish their analyst classes, not sure about moving from RX directly though, as that's a niche skillset, easier to make the move from Big 4 Corporate Finance or transaction services. Though, a few RX banks do hire ACAs now (e.g PJT), so it might be possible to do a move straight from Big 4 RX, but I don't think there aren't many of those types of opportunities. Otherwise there are standard accounting/ Financial analyst (FP&A) roles that all look for recently qualified ACAs.  

Easiest move would be to go to the Corp Finance group internally, then onto MM/ LMM IBs (e.g. Roths, Stifel, James Raymond, Numis etc). PE, above LMM, isn't realistic- there are too many ex bankers. LMM is definitely doable, and many hire Big 4 ACAs predominantly. 

If you like Big 4 RX type work, but want better pay I'd go for A&M. 

Big 4 rx focuses more on the operational/ administrative side of restructuring, so it's not like RX banking which focuses on capital structure work. However, you could always move to an (ex) Big 4 RX shop: Interpath or Teneo or PWC, though comp will be in line or even worse! A&M is another option, and does similar work in the UK but gets more international cases. It's split into 3 RX groups: Insolvency (Big 4 type work), Operational/ Turnaround (turning around companies by becoming their finance dep- "debtor side"), and Financial Restructuring ( mainly advising lenders - "creditor side"). The closest to US type work would be their turnaround group. The UK office was only setup in 2017 so it doesn't have the reputation that it has in the US, so comp and quality of mandates are both inferior as a rule. Remember this when reading about A&M on here, 99% of comments are US focused. But, comp at A&M (even in the UK) smokes everyone else in their market, apart from at the analyst level. A bonus driven culture is the best way to describe it, but you will work hard for it, as their standards are much higher than the Big 4 (from what people have told me). 

Rough Comp 

Assoc (just completed ACA) = £65k base (40%-50% bonus, which can be higher in great years)

Senior Assoc  = £80-100k (40%-50% bonus)

Discouragingly, I haven't seen A&M get staffed on a major case in UK in months, so they might be struggling for work at the moment, even while the UK insolvency market is red hot. I'm joining in Aug so, if I remember, I will update this post then once I can give a more accurate picture of what's going on there.