Hi, all.
I am thinking of transitioning from Healthcare Consulting to Restructuring Consulting. Ultimate goal is to get off the road and apply my acquired skills in a banking environment, e.g. Restructuring banking, Private Equity, M&A, etc. I am wondering how well the consulting side of Restructuring prepares you for a job in banking. I believe the primary modeling is 13 week cash flow. Although not intensive on modeling I would imagine the operational and strategic aspects of consulting would be beneficial in a banking/PE environment.
Any thoughts are appreciated!
Restructuring consulting can transition to middle market RX PE or restructuring banking. RX banking is more common, I can think of several people who have made that transition.
However, restructuring is a very niche area of consulting and banking. It is quite different from other areas of consulting. Very litigation and legal process heavy particularly in the bankruptcy arena. Cases tend to complex, and you frequently deal with fraudulent activity or management incompetence at debtor companies so cases tend to be adversarial and contentious.
RX/turnaround consulting is part accounting, part investment banking, part management consulting, and part legal consulting. I really enjoy it, but it is very unique.
If you are interested in a more generalist finance career I would consider trying to make the jump directly to investment banking or going back for your MBA. Only do RX consulting if you really are interested in the industry.
If you want to get off the road, don't go into restructuring consulting.
You'll be travelling 48 weeks a year, you'll be working 70+ hour weeks.
You'll be sh*t on by your superiors for a year until you know something about the bankruptcy process. And you'll not be making insane cash.
And the industry that is feeding all the turnaround guys right now, and for the foreseeable future, is retail. Do you really want to be doing liquidation analyses for the next two years?
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