Why Rx/IB: is this an appropriate answer
Intend on recruiting for Rx next year. Interested in the space because my family runs a large business that went through a Chapter 11 bankruptcy. They always talk about how navigating the restructuring process carefully really could have gone either way, and how everyone involved in the process (including bankers) helped bring my family from poverty to wealth again. I feel like this is a good motivation answer to "why Rx/IB" but I'm worried in the age of diversity recruiting this will make me sound stuck up/privledged/like an ass. Its the genuine reason why I'm interested in distressed, but just want to make sure if this is an appropriate answer to go with.
If you're worried about diversity just change "owns" to "works for"
Poverty to wealth is not great because it leaves u sounding wealthy at the end — feels out of touch when you say that. The story has a lot of great potential and I doubt many have heard it, but your framing is horrendous ngl — it just shows low social IQ
The concept of the post is to cut it dry and ask for tips for coomunicating the story well. It’s not like I went and said this to an MD.
Thats the same thing as me saying I’m interested in IB because my father’s company is going public
You can mention the family business going through chapter 11, but saying the poverty to wealth line could backfire. You actually do have a solid story given you saw how chapter 11 works as a client, but mention something like the value you saw banks/advisors provide that mitigated some of the problems you could've faced. This way you show you understand rx and how its helpful.
Thanks, this is what I was looking for. Figured I’d cut the situation dry and just get someone’s opinion on good posturing.
I honestly hate this answer. Does a good job of outlining how you got introduced to rx, but does nothing to tell me why you are interested in it and why you are recruiting for it. Honestly the tried and true answer is to always shit on M&A as being boring and every transaction is the same and then talk about how you want something with more variety where no transaction is the same. Would sitll mention you family bankruptcy, but use it as a spark that got you looking into rx and doing research about rx and then what you acutally learned about the group as why you are interested.
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