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Offer to move to EB Rx as associate from BB workout group
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For Distressed/Special Sits - which group is better? GS TMT vs. 2nd Tier RX
Yes, it's another question about exit opps. For those who's interested in distressed credit/pe/special sits, GS TMT (or any other top groups in BB that are known to attract top talents for top exits to buyside) vs. non-PJT/Laz restructuring group (more relevant experience but less known for top...
Macro Investing Transition
Hi All, I am a second-year Consultant at a major Restructuring firm. I have slowly realized this is not what I want to do long-term and am looking for a career switch. Specifically, I would like my next steps to involve exposure to macro trends and deep/ thoughtful work on how to profit from those...
RX IB - Top EB in Non-NY major city vs. 2nd Tier Boutique in NYC
What's your thoughts on this in terms of learning opportunities & exit ops into buyside? Looks like, even under this slow RX market, both banks have fair amount of deal flow.
Petition 11 Newsletter
Does anyone know how to get a discount for the Petition restructuring newsletter - the standard rate is pretty pricey at almost 50/month.
Q&A: VP in Restructuring
BS in Accounting & Finance graduating with honors CPA, ABV, CTA, CIRA, CDBV, Series 66 & 79 3 Years in Big 4 Audit 1.5 Years in TAS 2 Years in the Restructuring space Currently at a boutique investment bank Hybrid role of financial & operational restructuring, special situations M&A and distressed...
Restructuring Guides?
I'm currently at a big4 in the transaction services practice, but looking to make a move to RX consulting (e.g. FTI, A&M, Alix). Does anyone know what the best materials are to learn about 13 week cash flows, liquidation analyses, and other day-to-day bread and butter tasks for restructuring...
RX scene in London/Europe
Hello everyone, I am finishing my first year at a UK non-target and I am interested in restructuring. I have been able to find a lot of information on the US RX scene, but very little updated info on the RX scene here in London and in Europe in general. I was hoping someone could shed some light on:...
Alvarez Marsal Restructuring Interview Process + Financial Modeling Test
Hi, I am an undergraduate student interviewing for a full time position in A&M's RX practice, and was wondering what the interview process looked like. I understand that I will have to first go through a phone screen, followed by some sort of financial modeling test. Is there anymore to the process?...
What am I missing about RX?
So I am a freshman at a top target and I am trying to decide if I want to recruit RX next year. Tbh, I got interested because some of the best people in my school seem to love RX, but after speaking with them I am still kinda confused, and hoping to get some help from the WSO community. Is the job...
Greenhill Restructuring 2021
Hey guys, I was wondering if anyone could shed some light on the exits/experience and any other aspect of GHL RX. They seem to do a lot better now with Augustine but I wonder if that increased deal flow is sustainable given the current environment. Also they had some good exits like...
PWP RX
What do people think about PWP's restructuring group? Do they compete for deals with some of the other heavy hitters like PJT / HL? What kind of mandates do they get - is it mostly energy because of the TPH acquisition? What about culture / comp?
Restructuring Interview Prep
I'm a current Junior with a summer internship at a well-respected FIG group and am looking to interview for full-time RSSG positions. What resources would you guys recommend to start reading up on to prepare for interviews? I've heard about the Moyer book, which I'm currently reading, but I am...
What is the difference between the activity dona at a Big 4's restructuring arm, and that of a restructuring division at a Boutique (HL, Lazard, PJT...)?
I was considering a position in the restructuring division at a Big4 firm in London, to gain experience and then lateral to M&A or RX at a boutique (Lazard, Moelis, HL, PJT...). However, some people is telling me that the restructuring job at BIG4 companies has barely nothing to do with financial...
Small RX Firm --> Big 3 RX Shop --> Buy-Side?
I am working in the treasury department at a very large private company and am currently interviewing for a small boutique RX firm (it's one person at the moment). The firm has a middle-market focus and works in several industries, with both creditor and debtor work. How doable would it be to...
What do I need to know for Corporate Restructuring?
Have an interview a corporate restructuring firm, ay advice on what I should know in preperation? Sorry for the vagueness but I know very little.
Houlihan RX Cycle
Does anyone know if Houlihan RX Superdays are out yet? Saw a few people posting about first rounds and know those started a while ago.
Restructuring versus M&A
Hi everyone! I'm a prospective IB candidate (freshman at a Midwestern target) and I'm interested in Restructuring. However, I'm debating between pursuing restructuring positions at EB's versus pursuing more typical M&A and industry groups at BB's. I really like restructuring, but I have a few...
Restructuring Exits 2021?
Currently in a process to lateral to a mid-tier Rx group [Greenhill, Gugg, Jefferies, Rothschild]. What would potential exits from one of these groups look like? MF Credit? MM Credit? Distressed? Growth Equity? PE?
Transfer into RX Consulting
I will be interning at a strong RX firm (A&M/FTI/BRG) in the TAS group with a focus on debt transactions. I was wondering if it would be better/easier to recruit for full-time positions after this summer or return and transfer into RX later on? Thoughts?
Lateral Recruitment (Changing Groups) Advice
Hi everyone, Currently an Analyst at a MM (Lincoln, Canaccord, Oppenheimer, etc.) and I'm contemplating a lateral jump to an EB or BB. I currently sit in the special situations/Rx group, and was wondering how difficult it would be to switch into an M&A product group or a coverage group? I've worked...
Restructuring Guides and Help
Hi, I'm looking to learn more about restructuring and was pointed to Stephen Moyer's distressed debt analysis. Does anyone know any good notes for the book/ guides that I could use as I recruit for junior summer restructuring? Even if they aren't notes, any material would be good for education...
Questions about a long term career in RX
Recent college grad here, I joined one of the major RX consulting firms shortly after graduation. Have some questions about a long term career in restructuring and making the most of my experience in RX consulting; also happy to answer any questions from others about getting a foot in the door...
Offer from MM IB Group
Hello All, For some background, I’m currently working in restructuring consulting and i am expecting an offer from an MM IB Group. My current compensation structure is $140k base and approximately $30k bonus. I’m lining up for promotion so expecting atleast another $10k in salary. An external...
Guggenheim RX
Thoughts on Guggenheim RX (for analyst straight out of UG)? Namely interested in group reputation, exit opps, and typical career paths.
International students in Restructuring
International sophomore at a non-target I think I like restructuring and I know should be looking at EBs if I want to go down that path. As an international, I am just wondering which EBs are likely to sponsor visas?
Gordian Group?
Does anyone know anything about this firm? Deal flow, culture, comp, exit ops, etc? I have been looking online and can't find much. Seems to be RX focused with a decent amount of deals done recently.
What's the best mandates to handle at a restructuring investment bank?
Is it better to represent more senior debt pieces in the capital structure or the largest pieces? Thoughts on representing the unsecured creditors? Does the client name matter (i.e. representing Oaktree) for getting the client to notice you as talent/for placement after analyst stint? And exactly is...
Recovery Math
Does anyone have any free resources they would be willing to link that have examples of recovery math? Thank you!
FTI Chicago
Anyone have insight into the culture, comp, etc.? I'm looking at the Corporate Finance & Restructuring segment.
A&M RX
What are the most likely exit opps from A&M RX at the analyst/associate level. Is Turnaround PE at a place like KPS possible? RX IB at a place like HL?
Province - Restructuring Reputation
I am wondering if anyone has heard of a restructuring shop called Province. It seems like they have been on a number of UCC mandates -- can anyone provide some color on the firm and how they are regarded in the space? Their website for reference: provincefirm .com
Distressed Debt Math
Can someone help me understand how to go through some specific calculations for distressed debt (or point me to good resources for this)? For example, lets say a company has EV of $150, secured debt of $75 and $125 of unsecured debt. Hence, the unsecured debt is trading at 60 cents on the dollar...
Pros & Cons Summary - Post-MBAs in Restructuring (RX) - any regrets?
To any Post-MBAs who pursued a longer-term career in restructuring - I'd love to get your thoughts and insights on your career so far, whether you are happy with the decision, or have any regrets and so on. I'm about to start my MBA at a top finance school (Wharton / Booth / Columbia) this fall and...
Request for Mods: Consider adding a Restructuring forum?
Hi Mods & Monkeys, Long-time lurker, occasional poster, overall huge fan of the WSO community (including the trolls who provide oft-needed lols). WSO has dedicated spaces for IB , PE , HF , RE, CO, TR, AM , ER , and CF. I think now would be a great time to create a space for RX . * Restructuring...
Can I transition from restructuring to regular private equity?
Hey everybody, I currently work in the M&A group at a respectable boutique, but have the option to switch to the restructuring group given the current market situation. I find restructuring more interesting than M&A , but ultimately know that I want to go into PE; outside of firms like Apollo that...
RX Deal - Work split between RX vs. industry team on a RX deal?
Say for example on an oil & gas restructuring. What does the RX group do and what does the Oil & Gas coverage group? Or does the RX group handle this entirely on their own without any input from the oil & gas team? I would think that if you're advising the debtor then you will need deep business...
Restructuring vs Credit Research for DD HF
Which of the two best prepares you for a career in distressed debt investing at a hedge fund? I'm aware both backgrounds usually end up in DD HFs but if you had a choice between the two coming out of college, which would you prefer?
Best First Internship
Looking for opinions on what kind of first internships are best/more favourable to land an IB one for the following internship? I spoke to a few people who suggested any restructuring groups while others suggested PWM . Thoughts?
Restructuring Interview Questions from Superday
I have a friend who just went through restructuring super day and wanted to get answers to these 5 questions: 1. If a firm has a leverage ratio of 5x and it has an interest coverage ratio of 5x, what is the firm's interest rate? 2. First lien 100m Second lien 100m 50m EBITDA Multiple of 8x Interest...
Lateral to RX from Niche Coverage
Anyone here have experience interviewing lateral hires to RX from other coverage groups? What type of experience do you typically look for and how flexible are you? Im in IB but in the REGAL coverage group. I’ve worked on a number of credit deals, but it’s always real estate credit. Would an RX...
MBA IBD recruiting Fall 2020
Any insights/thoughts on how this coronavirus madness is going to affect fall 2020 associate recruiting for MBAs (specifically for restructuring)? Don't want to hit the panic button yet, but it seems like all the shutdowns and supply shocks will have a pretty serious ripple effect. Theoretically...
Which Restructuring Investment Banking teams killed it in 2019?
I'm wondering if anyone has a good sense of which firms had a phenomenal 2019 in the restructuring space? Considering: Lazard, PJT, Moelis, EVR, Ducera, Houlihan Lokey, Centerview, etc.
Wall Street Prep Restructuring Model Training
Happy new year folks, Has anyone here completed the online wall street prep restructuring model training? I'm interested in restructuring and thinking about pursuing opportunities in RX or turnaround consulting after an MBA . Is this a decently thorough introduction to RX modeling work or is it too...
SunTrust Robinson Humphrey / BB&T / Truist Capital Structure Advisory
Anyone with experience/thoughts on the STRH Capital Structure Advisory Group? Deal flow, culture, exit opps, etc?
Request for 2019 Restructuring League Table
Does anyone have the updated year-to-date league table for restructuring/distressed debt? Really curious to know if anyone is having a stand-out year so far?
Restructuring 1st Year Analyst Resume Sample
I'm planning to apply for roles in restructuring advisory for both banking (PJT, Houlihan Lokey, etc) and consulting (FTI, Deloitte, etc) and I'm in the process of updating my resume. I tried looking restructuring resume template online but didn't find anything because this area is so specific....
Moving past ranking the restructuring groups, what are some of the teams actually like?
There's a ton of IB restructuring rankings that seem to be all over the map. Instead of ranking the groups, it'd be way more helpful if some rx vet's could talk about each of the less covered teams' main qualities: reputation, exit opps, management, growth trajectory, recent mandates, etc....
MD final round Rx interview
Hi all. Have final round with head MD / Partner for a position with AM / FTI / AP . Any advice on what to prepare? I was told it wouldn't be case study focused or too technical and more about my history, motivations for firm and role. Any suggested competencies to focus on? Guess operational problem...
Djhshshebew
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