I really want to have a career in turnaround & restructuring consulting. But how can I continue now? I have been rejected by AlixPartners (VP role) and Alvarez & Marsal (Internship). I never heard from FTI and BRG after applying. I have no idea how to continue now. Anyone has any insights or tips?

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Go to a boutique firm dude. There are so many in RX advisory which are just as good and pay just as much as the big names, if not more. Many (including myself) would argue that you’ll even learn more at a smaller shop.

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MBA?

Yep. I couldn't make a move based on my pre-MBA background so I decided to do MBA.

I am an MBA student and about to graduate in May 2021. I am a CPA and have heavy experience in financial statements (mostly in tax however). At this point, I just don't know how to pursue a career in restructuring now.

$16 doll hairs

Law School and a clerkship with a Bankruptcy Judge. It would be an expensive and time consuming endeavor, but if that’s really what you want to do, then it might be an option to explore.

Probably harder to get a clerkship with a bankruptcy judge. A JD itself would be a plus but it’s a longer and more expensive process. Consider getting some relevant finance or consulting related experience after the MBA before pivoting or keep knocking on doors outside of the big 4/5 restructuring firms.

You work at PwC? The biggest (and arguably best) restructuring and turnaround practice in the world. Don’t you just need to get yourself in the right team I.e Deals - Business Restructuring Services - Operational Restructuring?

Hi AM. I was interviewing with the public sector group. I love a few emergency projects the group did to turnaround local and state governments. If you have time, could you introduce a little bit more about your process into AM?

smart

Do you know why you were rejected? Boutique route might be hard because they tend to hire experienced RX people due to their limited training capacities. One alternative is to get into a non RX branch within Alix, A&M, FTI and do an internal transfer. When their RX is busy, they tend to grab people from other branches who have accounting background.

Hi Director. The firm told me that I was on the final list and they picked someone with RX background. I didn't have any other shorties - everything I had done (IQ test, modeling, personality, etc) was good enough. I tend to believe in that feedback because many of my peers got rejected and received different feedback. I also personally know the one that got accepted and he interned in RX banking. I will try to get into other service lines but I am not sure if my tax background is good enough.

Does anyone know if CTA (Certified Turnaround Analyst) offered by TMA is in anyway useful to put on the resume if Corporate Restructuring is the goal to lateral into? For background, I'm currently at at Big 4 doing FDD.

Certainly couldn’t hurt. I think it would be a good way to demonstrate tangible interest in the career path

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