Interview Advice - Elite Boutique
Hi, I am looking for interview advice for an off-cycle analyst role within the restructuring and special opportunities team of an elite boutique. Are there any specific technical questions to consider for such interviews - outside of the typical DCF/M&A models related questions?
I have only interviewed for generalist IB roles before so I am trying to find out as to what extent the preparation would differ for this. This is for a regional office so I am expecting the interview to be more technical than usual.
Hi there! For an off-cycle analyst role within the restructuring and special opportunities team of an elite boutique, you should expect some differences in the interview process compared to generalist IB roles. Here are some key areas to focus on:
Restructuring Concepts: Understand the basics of restructuring, including the reasons for it, the different types of restructuring (e.g., operational, financial), and the roles of various stakeholders (e.g., debtors, creditors, advisors).
Bankruptcy and Distressed Debt: Familiarize yourself with bankruptcy concepts, such as Chapter 11 and Chapter 7, as well as the process of restructuring distressed debt. Understand the difference between senior and junior debt, and the implications for recovery rates.
Valuation in Distressed Situations: Be prepared to discuss valuation methodologies specific to distressed situations, such as the liquidation value and the going-concern value. You may also be asked about the use of multiples in distressed situations and how they differ from traditional valuation methods.
Credit Analysis: Brush up on credit analysis, including understanding credit ratios, credit ratings, and the factors that influence a company's creditworthiness.
Case Studies: Be prepared to discuss real-life examples of restructuring and special situations. Research recent high-profile cases and be ready to analyze the situation, the actions taken, and the outcomes.
Technical Questions: While you should still be prepared for typical DCF/M&A model-related questions, also expect questions related to restructuring, such as calculating enterprise value in a distressed situation, understanding the waterfall of claims, and analyzing the impact of different restructuring scenarios on various stakeholders.
Fit and Motivation: Be ready to explain your interest in restructuring and special opportunities, and how it aligns with your career goals. Be prepared to discuss your background and experiences that make you a good fit for this specific team.
By focusing on these areas, you'll be well-prepared for your off-cycle analyst interview within the restructuring and special opportunities team. Good luck!
Sources: https://www.wallstreetoasis.com/forum/private-equity/on-cycle-recruiting-2018-what-to-expect?customgpt=1, Off Cycle Recruiting Stories, Did on cycle just start?, Q&A - Offcycle offer from UMM fund ($9bn latest fund size)
Ut nihil natus et enim vel ullam. Aperiam vero nam ex atque consequatur consequatur a.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Placeat illum veritatis laboriosam. Nostrum dolorem tenetur architecto est possimus nulla. Voluptates quia at similique et itaque.
Tempora ut aut facere sit quia. Quia id pariatur id qui. Omnis reprehenderit blanditiis autem quidem nisi.
Unde voluptatem amet exercitationem est vitae beatae iusto. Ea cupiditate quo est maxime nulla dolor. Numquam dolore et consequatur necessitatibus id asperiores necessitatibus neque. Iste quam eligendi iure maiores et et distinctio.
Aliquid ea omnis assumenda impedit distinctio quisquam numquam quod. Atque earum dicta quis quod. Voluptas enim debitis qui.
Similique quod necessitatibus itaque est ut optio. Sint dolore dolorem dolorem consequuntur quia vitae sunt. Nihil dolor totam enim eveniet ab. Quidem rerum blanditiis eum eos corporis quaerat vel sed. Repellat ut debitis excepturi nihil non quia sit ex. Fugiat repudiandae cumque vel.
Odio ad minus autem unde. Occaecati et optio voluptatibus et et ipsam. Id omnis voluptatem possimus explicabo veniam cumque.
Non explicabo eos veniam doloribus dignissimos qui. Minima sint qui enim earum hic asperiores nobis. Corporis voluptas minima labore est est.
Modi est rerum numquam voluptate odio ipsam. Perspiciatis quisquam dolorum ullam mollitia a.
Eaque nulla officia possimus necessitatibus dolor iste. Quae cum necessitatibus tenetur voluptatem. Quas asperiores consectetur non libero atque. Qui ea est officia voluptates quia. Adipisci quas id velit.