How to get into restructuring if one doesn't start out in it immediately?
What is the best way of getting into restructuring if you don't start off at a Blackstone or something like that right away? Would accounting be a decent feeder into that sort of area or what would be good?
No, accounting is not a feeder. Try commercial banking, leveraged finance or anything that has to do with DCM & ECM.
What? No.
Working in LevFin or as a credit analyst at a BB would be a good feeder, but if you're having trouble getting into restructuring, this likely isn't an available option to you.
I would try to squeeze into one of the turnaround management/restructuring shops (e.g. FTI, Alix Partners, Alvarez, Huron, etc...), they've been hiring a lot these days. Try to network with all the players in the restructuring space, learn the product inside out and make sure you can demonstrate a superior understanding of what it is. Are you currently employed? You need to make sure you can demonstrate your experiences to be very rich and demonstrate how much you learned. In restructuring you need to be able to VERY quickly grasp the salient points in a business model, situation and understand the various parties involved and their interests. Demonstrating you have grasped all this very quickly in past experiences, even though it wasn't necessarily required of you, would give you a leg up.
As for making sure you know your stuff, there's a variety of sources, WSO being one of the better ones:
//www.wallstreetoasis.com/forums/restructuring-interview-1st-analyst
Hmm, a restructuring group at a Big 4 firm is a big feeder to IB restructuring, particularly in the UK.
so would big 4 restructuring be an option?
Any good books on restructuring? I bought one last year but dealt purely with legal issues and ignored the financial side. I’ve heard that - Stephen Moyer's "Distressed Debt Analysis" is great but it is VERY expensive.
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