Interview Advice - Elite Boutique
Hi, I am looking for interview advice for an off-cycle analyst role within the restructuring and special opportunities team of an elite boutique. Are there any specific technical questions to consider for such interviews - outside of the typical DCF/M&A models related questions?
I have only interviewed for generalist IB roles before so I am trying to find out as to what extent the preparation would differ for this. This is for a regional office so I am expecting the interview to be more technical than usual.
Hi there! For an off-cycle analyst role within the restructuring and special opportunities team of an elite boutique, you should expect some differences in the interview process compared to generalist IB roles. Here are some key areas to focus on:
Restructuring Concepts: Understand the basics of restructuring, including the reasons for it, the different types of restructuring (e.g., operational, financial), and the roles of various stakeholders (e.g., debtors, creditors, advisors).
Bankruptcy and Distressed Debt: Familiarize yourself with bankruptcy concepts, such as Chapter 11 and Chapter 7, as well as the process of restructuring distressed debt. Understand the difference between senior and junior debt, and the implications for recovery rates.
Valuation in Distressed Situations: Be prepared to discuss valuation methodologies specific to distressed situations, such as the liquidation value and the going-concern value. You may also be asked about the use of multiples in distressed situations and how they differ from traditional valuation methods.
Credit Analysis: Brush up on credit analysis, including understanding credit ratios, credit ratings, and the factors that influence a company's creditworthiness.
Case Studies: Be prepared to discuss real-life examples of restructuring and special situations. Research recent high-profile cases and be ready to analyze the situation, the actions taken, and the outcomes.
Technical Questions: While you should still be prepared for typical DCF/M&A model-related questions, also expect questions related to restructuring, such as calculating enterprise value in a distressed situation, understanding the waterfall of claims, and analyzing the impact of different restructuring scenarios on various stakeholders.
Fit and Motivation: Be ready to explain your interest in restructuring and special opportunities, and how it aligns with your career goals. Be prepared to discuss your background and experiences that make you a good fit for this specific team.
By focusing on these areas, you'll be well-prepared for your off-cycle analyst interview within the restructuring and special opportunities team. Good luck!
Sources: https://www.wallstreetoasis.com/forum/private-equity/on-cycle-recruiting-2018-what-to-expect?customgpt=1, Off Cycle Recruiting Stories, Did on cycle just start?, Q&A - Offcycle offer from UMM fund ($9bn latest fund size)
Voluptatem modi quisquam similique est voluptatibus. Dolor repellat officiis dolore. Quia et id quaerat adipisci.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Non libero libero soluta sunt est cumque. Occaecati voluptatem iure odio. Voluptas inventore assumenda architecto ipsa officia possimus quos. Sit ipsa cum hic inventore.
Non corrupti perspiciatis voluptates voluptas reprehenderit. Qui adipisci amet nobis ad qui expedita. Beatae magni sunt iste qui.
Ullam velit eveniet consectetur natus. Tempore voluptatem dignissimos reiciendis velit reprehenderit natus. Nostrum non inventore natus ipsam et aut cumque.
Perferendis ipsum quam sunt repellat. Fuga ipsa reiciendis dignissimos repudiandae incidunt.
Maiores magnam cumque nesciunt nulla. Eaque aut qui libero possimus aut delectus quia. Aut eum voluptatem unde nam ratione. Illo at id nisi provident magni aut quia sit. Voluptatum et labore est ex qui qui. Distinctio quasi quisquam fugit. Sed ab ea dicta eaque voluptatibus quaerat nihil.
Impedit veritatis non similique eos laborum omnis veritatis. Aperiam repellat vero assumenda harum voluptas est laudantium. Quia velit omnis enim hic deserunt omnis quasi.
Et rerum tempora commodi. Illum modi aspernatur aut nam illo voluptatem. Culpa eaque ea consequatur corporis possimus aut id. Doloribus est omnis quidem totam et. Quia eos laudantium porro facilis nobis illum quisquam repudiandae.
Voluptas ea ut aut repellendus repellendus odit. Aliquid et recusandae in minus beatae inventore. Laudantium quia quam quisquam facilis quam ea et. Facere animi non dolorem. Officiis perspiciatis aut sed hic qui. Quis voluptatibus similique tenetur laboriosam incidunt.