Career Direction: RX consulting or IA
Hello all, feeling very very lost and hopefully can get some career advice here! I have two job offers in front of me currently, both very different from each other. My short term goal is going to B School within the next 2 years and leverage that to break into management consultancy.
1st job offer: Internal audit role at a MNC (pays ~US18k/year more, travels a lot) or..
2nd job offer: Restructuring/insolvency advisory at a smaller firm (more insolvency assignments than restructuring, very niche, more challenging)
Any thoughts?
Any current or ex restructuring/insolvency consultants here? Can you please share with me possible exit paths or thoughts about the industry? I am worried about job opportunities in this industry as it is very niche and I am unsure whether I would excel at it and be continually promoted upwards (in case the b school plan don’t work out).
As a RX consultant, you work very closely with a company that needs operational direction and better financial management. Exits would include moving into industry, RX banking, strategic consulting (less common), distressed investing, PE operating team (stressed/non-stressed performance improvement), and other ancillary consulting options. Your mileage may vary depending on your case experience and the level of involvement you get on the company side.
If you happen to work in a more creditor-side focused role, it would be harder to parlay into other options, but you generally have the same exit opportunities. In any case, RX consulting is great experience which prepares you for analyzing operations and the appropriate capital structure for a company, and both skills will be extremely useful for strategic consulting (regardless of whether or not a direct exit to strategic consulting is common).
Strategic consulting rarely goes into the level of depth that audit requires. I'd recommend RX consulting any day. Plus, if your plan is to go to B-School, you're going to want a unique and challenging experience to show on your resume. Fixing a company from the ground up will sound so much better than conducting audits.
Not to mention, RX consulting will pay up to 100% of base salary in bonus depending on the shop. Doubt you ever get there with Audit.
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