Big 4 CF vs Restructuring MM ? I received 2 offers in Asia. 1. CF at PwC 2. Restructuring at a specialist firm in non big4 but a boutique Financial Advisory firm which is a very strong brand in Asia and Australia. My ultimate goal would be IBD Advisory role. Should I even consider the restructuring role ? They offered me better comp despite lower grade than what pwc would otherwise offered me.

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I’d take the restructuring offer, reason being it’s one step closer to an IBD advisory role at a bank than working Big 4 CF. Good luck!

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If you check out the LinkedIn profiles of investment bankers, very few come from big 4. Many go straight from school (undergrad/MBA) or lateral from a smaller boutique or restructuring firm. For whatever reason, banks don’t hire as many from big 4.

uplifting

What kind of restructuring? There’s a dramatic split between the financial side (distressed m&a/financing) and the consulting side (management turnaround advisory). Only the first will have real opportunities to jump to traditional m&a, although the second has other solid exit options.

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Oh really? That’s interesting actually. I would’ve thought CF pwc would put me closer.

May I ask why? Not that im doubting you, just want to understand

Thanks

It is more on the consulting side. To be honest, I am not fully familiar with this but I was approached. What would be the exit opps for the turnaround advisory?

More in line with other types of management consulting: corporate finance/strategy roles, switch to other consulting, or portfolio operation/performance improvement within PE (distinct from deal teams). A lot of people also spend full careers in restructuring consulting.

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