Have an offer in D&P Restructuring, have an interview next week for Citi Operations, or the possibility to apply to Valuations in D&P though no guarantee of interview. Plan on doing a Ms Finance in LBS/LSE or similar after 1 year of work and transitioning to IB. Any advice?
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D&P
I second this
For the love of God if you go in Ops you might as well put a black hole on your resume when you apply for banking
Doing Restructuring work will give you a good technical background (at least that's what I've heard). You can leverage that to lateral to a better place.
The work at D&P Restructuring would also be much more interesting and less tedious than the work in Citi Ops, especially if you are aiming for professional development and love challenging yourself.
Also isn't D&P restructuring already IB?
You should know the difference between both of these roles before you interview for them. 1 is a solid FO opportunity and way more "prestigious" than the other.
Not too familiar with D&P's rx practice, but if its anything like Big 4 rx I'd say its more similar to consulting than banking but still categorized as financial advisory. You'd primarily be working on the operational turnaround of the company as opposed to financial restructuring which is done by bankers, and you'd potentially be appointed as the monitor/trustee during the bankruptcy process while the company restructures. I'm sure you'll touch some financial analysis on the job, but your main objective is to manage the process while advising the company on how they can change their strategy so they don't piss off the creditors again.
With that being said, there really is no comparison between the D&P role and ops if your end goal is banking. Big 4 rx typically counts towards your CPA designation, and that could be a bonus for you as well. As someone mentioned, working in ops is a nail in the coffin for any chance at lateralling into IB.
Thanks a million for the answer. I interned in DP RX and it was much more the processing and consulting side as opposed to financial, hence my being unsure of whether it was on similar par with Citi Ops for transfer possibilities. I was already heavily leaning one direction and this has cemented my thoughts on it. Basically needed confirmation from outside perspective. Thank you.
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