Job Responsibilities
Financial modeling (10%), financial analysis (30%), report
writing (30%), negotiations (5%), client advisory activities
(25%).
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Job Requirements
Commericial banking and strategy consulting prior to entering
turnaround consulting. Education in finance and/or accounting a
must. Heavy financial analysis and interpersonal skills
required. Extensive travel. Very fun work but can be
exhausting if you do not genuinely like this sort of work.
Clients are typically in distress and are in our about to file
for bankruptcy.
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Uppers
Dealing with very interesting and smart people in crisis situations. The
ability to help save an enterprise (and 000's of jobs) from liquidation. Being
able to make massive change in a short period of time. Never the same thing
twice.
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Downers
Extensive travel and very unpredictable hours. If a company has
to file for bankruptcy they can't wait for you to get back from
Aruba. Hard to plan too far in advance.
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Lifestyle
Overall the people in this field are very cool and very relaxed though they deal
with people in crisis situations. Day to day is corporate casual, but suits are
worn for big meetings. Basically one has to dress just slightly better than the
clients, which typically isn't that hard.
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Compensation
Compensation is good but not amazing. Below investment banking
but better than the Big 4. Typically some combination of salary
and bonus based on age and experience (i.e. some older workers
get a higher base but a lower bonus, its all evens out in the
end).
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Advice to Jobseekers
Focus on your financial analysis, modeling and writing skills.
Eyes open mouth shut.
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