Restructuring SVP, where to go now?
Disregard the posting title, this is for my friend.
"Been at my firm since graduation, soon to make SVP. I have been in municipal/government Infrastructure restructuring my whole professional career. Been here so long and not sure if I am still happy here.
If I were to move on what are my options. Is PE/HF possible at this stage?
Could I go to another IB firm that focuses on M&A Infrastructure?
Coverage group switch possible at another firm?
Or would it have to be just a different IB firm that covers the same group?"
Based on the most helpful WSO content, it seems like there are several potential paths for your friend.
PE/HF: While it's not the most common path, it's not unheard of for someone with a restructuring background to move into PE or a Hedge Fund, especially if they've been dealing with distressed assets. The skills acquired in restructuring can be quite valuable in these roles.
M&A Infrastructure at another IB: This could be a viable option. The skillset of a restructuring banker includes all of the technical skills of an M&A banker and more. So, transitioning to an M&A role, especially in a related field like infrastructure, could be a good fit.
Coverage group switch at another firm: This might be a bit more challenging, but it's not impossible. It would likely depend on the specific firm and the transferable skills your friend has.
Different IB firm that covers the same group: This would likely be the most straightforward transition, as your friend would be able to leverage their extensive experience in municipal/government Infrastructure restructuring.
Remember, these are just potential options. Your friend should consider what they're most interested in and what aligns best with their long-term career goals. It might be helpful to reach out to contacts in these different areas to get a better sense of what each path might entail.
Sources: Switching from 'Industrials' to 'Restructuring'., Restructuring vs. M&A, Can I transition from restructuring to regular private equity?, IB Associate and VP Exits - Where are you now?
I have literally no idea what I’m talking about but an MBA sounds like a good bet
Once you’re at a VP it’s harder to go to PE/HF. Nothing is ever impossible, but your skill set is just different than investors at that level. I’ve seen it happen.
But bank to bank is 100% a thing you can do and it happens all the time. Shockingly, your connections in RX can do M&A that’s much less stressed from my experience.
So even knowing I did did RX I could still lateral over to M&A but same coverage group?
I mean all of your infra connections don’t suddenly dissapear when you just do M&A right?
You’re an intern in IB M&A but your friend is an SVP in restructuring?
As in he has about 10+ years racked up in industry experience and contacts? And has 0 clue what his exit options are?
And this same SVP friend is asking high school students on WSO what his options are for next steps?
Never happened.
This is not a fake story its a family member which is why the age difference is so big. He fell into IB Spring semester senior year and knew it just made a lot of money. And it's not 10+ think more than 7+ he just got promoted fast cause its a smaller MM firm and he's good at his job. His only connections are from his own office, so that doesn't help with moving firms. And WSO is not only highschool students lol, he was just curious what other people would say and or do.
IK some rx directors/vps that went to credit funds. So definitely not impossible if your smart and have good connections with those clients
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