Alvarez and Marsal/AlixPartners

how is experience at these two firms viewed for bschool admissions? specifically the restructuring and financial advisory groups? also, it possible to make the jump from one of these two firms to a bank like HLHZ restructuring?

 

i dont have an offer from either but i have been looking into these two firms along with FTI because they seem to be fond of ppl coming from big4, but i also want to go to bschool eventually. i'm trying to see what my best option is once i leave auditing in terms of a firm that provides upward mobility, solid bschool prospects and good exit opps in case i scratch the idea of bschool. these firms seem to fit this criteria.

anyone work at these firms that can provide any more info?

 
Best Response

Reputation is top notch for turnaround / restructuring FAs. Exit ops are wide, but generally are going to be into operating companies (former clients, etc.) and operations teams of private equity firms. When I was in banking in a restructuring group, we would frequently work with Alix, A&M, etc. Work will be fluid and every engagement is different, but will be 13 week cash flow modeling, MORs for BK reporting, playing the role of interim finance department in stressed / distressed situations, managing cash flow / liquidity / covenant reporting and analysis, etc. Now that I'm in PE, we have a large operations team that we employ full time who does this work, but also helps in due diligence, market / commercial analysis, integrations, and modeling support. AT1228

 
WSO1212:

Reputation is top notch for turnaround / restructuring FAs. Exit ops are wide, but generally are going to be into operating companies (former clients, etc.) and operations teams of private equity firms. When I was in banking in a restructuring group, we would frequently work with Alix, A&M, etc. Work will be fluid and every engagement is different, but will be 13 week cash flow modeling, MORs for BK reporting, playing the role of interim finance department in stressed / distressed situations, managing cash flow / liquidity / covenant reporting and analysis, etc. Now that I'm in PE, we have a large operations team that we employ full time who does this work, but also helps in due diligence, market / commercial analysis, integrations, and modeling support. @AT1228

Really appreciate your commentary, WSO1212. In many ways it echoes what I have heard from others both currently or previously at Alix. Happy to hear you've had positive experiences working with them. I am trying to fully understand the exit op by accepting a post-mba asssociate role in their TRS group against my current role (VP in corp fin/dev for the mortgage banking arm of a mid-sized privately held firm that develops, invests in, manages, and finances real estate).

For some background, target long term goal is a CFO type role or senior corporate strategy executive. My credentials are non-target undergrad, CPA, top 10-15 MBA with experience in accounting, tax, fp&a, liquidity management, and some successful m&a deal experience.

Any additional feedback greatly appreciated.

 

Their reputation is definitely oriented towards turnaround situations. From what I can tell, they're working aggressively to branch out into operations and technology management consulting as well. They've hired pretty aggressively from Diamond, PRTM, and ATK. They tend to hire relatively senior "practitioners" - people with deep functional or domain expertise and do not have a traditional pyramid structure. The most common level is VP or Director with no undergrad hiring and very limited direct MBA hiring. Given the above, they don't have a strong following on WSO. The interview process is rigorous - as an experienced candidate, I interviewed at Alix at the same time as MBB and found the processes comparably difficult.

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