Banking Restructuring vs. Restructuring Consulting
Any input is appreciated!
I'll be starting next fall in a corpfin restructuring group at respectable west coast consulting firm. For those of you experienced in the field, I'm completely new to this industry sector and although my position certainly doesnt qualify as banking to any extent, I was wondering...
How will my work be similar or different from a banks restructuring practice? Anybody know people who've worked for a consultancy's restructuring practice? Lastly, didnt get much exposure to other consultants during the recruiting process so didnt get to ask:
What hours should I expect? Lots of travel in this practice? Exit ops?
Anyways, I'm excited either way and am just happy to have a job. Thanks for the input in advance!
I hear the hours are better with restructuring consulting. I should admit I do not know much about restructuring consulting; I'd like to hear what everyone has to say.
..definitely expect to rack up those starwood points. when you are working at the client's site, expect to work weekends.
We're about to enter a Great Depression. Don't you want a president who's already dressed for it?
but I knew a guy this summer at my firm (Restructuring/M&A boutique) that used to work for Alix Partners, a restructuring consultancy.
He was pretty much a balla and the experience (although he did work more than average before b-school, about 5-6 years) helped him get into a good b-school (Darden) and then into restructuring banking.
So I think any experience like that can be great. Congrats. You can stay in consulting, or move to different areas, or you have good exit opps to b-school to make or big change or into top restructuring shops because of your relevancy.
sweet thanks a lot teldar. i'm definitely looking forward to everything i'll be learning. if anyone else has more insight, i would greatly appreciate it!
from what I've seen, restructuring consulting is more based on realigning the business plan (forecasts / budgeting / etc).
the banking side helps with major asset sales / complex asset-valuation. in short, consultants help with the direction of the company and bankers facilitate the necessary transactions to get there.
this is only my observation - chime in anyone
consulting restructuring vs. banking restructuring? (Originally Posted: 12/11/2008)
hey everyone, I'm coming from a little different background as I just signed with FTI Consulting's corpfin restructuring group. I'll be starting next fall in a west coast office. For those of you experienced in the field, I'm completely new to this industry sector and although my position certainly doesnt qualify as banking to any extent, how will my work be similar or different from a banks restructuring practice? Anybody have contacts who've worked for a consultancy's restructuring practice? Anyways, I'm excited either way and am just happy to have a job.
Good question, I want to know the answer also.
Would Restructuring at a Big-4 count as "Consulting Restructuring" also? If so, I'd be interested to know how this would be viewed against Restructuring experience at a HLHZ, Lazard etc. Obviously not as "prestigious" but in terms of skillset, theoretically I could still go to a special sits fund? Thanks.
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