Restructuring and Mergers and Acquisitions (M&A) seem like glamourous career paths to millions of college students.
While spotting a potential client may seem like an easy way of minting money, the reality is much more serious. Similarly, advising companies on their capital structures to tackle bankruptcies and distressed sales is no child’s play.
As someone looking for a career in M&A, you should know that selling a company is not a day’s work. The official selling documents will be updated several times, and you need to keep up with the same.
Being willing to perform repetitive tasks will not suffice. You need to walk the extra mile to be familiar with the detailed financial outlook of the deal you are engaging with.
Considering that sellers can ask a wide range of questions about the company, as an M&A executive, you need to remain on your toes all the time.
As a restructuring lawyer, you will be approached by a company that is in a cash crunch to advise its financial dealings and minimize the losses.
This would need you to analyze the risk factors in detail and make decisions in favor of your client’s financial health.
While the job in M&A or Restructuring may seem challenging, it is highly rewarding from an intellectual perspective.
We understand that this is a relatively uncommon career trajectory, and you may have some questions about making the move. In this article, we plan to debunk the common questions surrounding this profession.
What Are The Monetary Prospects In M&A Or Reconstructing?
As a freshly graduated law student, you need to realize that this field requires you to put your best foot forward all the time.
The junior M&A executive, restructuring lawyer, or chief compliance officer salary is significantly higher than that of other similar positions.
Because of the highly demanding nature of the job, you will be working longer hours and can easily live within your means. In essence, you will be spending minimal money and accumulating a lot of wealth.
That way, you will be able to pay off your student loans, lead an expensive lifestyle, and create an emergency fund. So if putting money away for the future is important to you, a career in M&A and restructuring allows it.
As you progress in your career, you can expect better money.
How Do I Stand To Benefit From A Restructuring Executive Role?
Restructuring introduces you to financial modeling and will open the doors to a sea of exit opportunities, thus giving you ample scope to plan your career trajectory.
There is significant exposure to financial valuation, and this hands-on experience will help you in planning and strategic roles that you take up later in your career.
Also, as a restructuring executive, you will be working on several creditor mandates. That way, you will pick up on skills necessary for other buy-side roles.
As this profession will have you work on more live deals and just a few pitches, you can expect better in-depth exposure and a sound technical foundation for your career growth.
Do I Need To Be A Good Multi-Tasker If I Want To Pursue A Career As An M&A Executive?
In today’s world, most people mention the word ‘multitasking’ in their resume. However, as an M&A executive, you need to be great at juggling multiple responsibilities at a time.
While the workload may vary from organization to organization, a typical workday may involve an executive working on multiple deals and every task having a tight deadline.
If you are not a multi-tasker, you may panic and do more harm than good.
Understand that the demand for multitasking skills on a chief compliance officer job description is not just for namesake, and you should be able to stand up to all that you promise your recruiter.
Unless you have a knack for working under challenging situations and managing multiple things at once, it will be difficult for you to survive in such a competitive field.
I Am An Introvert. Can I Hope For A Career As An M&A Lawyer?
To shine in the world of M&A, you need to be street smart. Many introverts are excellent at the documentation and formal conversations, making them great at mergers and acquisitions.
In this field, the stakes are very high, and most people you will be interacting with are busy corporate professionals.
Since you will be interacting directly with the CEOs and CFOs, you need to polish your communication skills and learn to see the big picture.
Knowing the hierarchy, growing a thick skin, and maneuvering through the political skills is something you will learn early in this field.
The learning curve is steep, and if you do your job well, you can expect good visibility among the higher management. This will help you in your pursuit of eyeing key strategic positions in the organization.
How Do I Get A Job As An M&A Or Restructuring Lawyer?
Due to the high responsibilities associated with this job, most investment banks look for the brightest graduates for entry-level positions in M&A or restructuring.
If you are someone with prior experience in investment banking, displaying competencies such as putting together a convincing sales document or an attractive fix to a financial mess will help you get noticed.
Quoting such instances to your employer will improve your chances of bagging the post when there is a vacancy.
Most investment banks do not insist on having a CFA for the financials, but being well versed in the company’s performance in the last few years helps.
If you have a basic understanding of financial statements, you are in a better position of shifting to a restructuring or M&A role.
This holds true irrespective of whether you are seeking a role change within your organization or hoping to switch jobs.
The business world is one of immense opportunity for an M&A or restructuring lawyer. As you plan to move to these positions, we hope that this article was able to help you find clarity in your career choice.