Restructuring and insolvency

[jobless person]

Hi, anyone knows the pay range for this role?

Is it any different from corporate advisory?

Thanks

Interested too, what's the day to day job scope like?

It really depends on the company's ability to generate restructuring projects in Singapore. Likely, nTan is the person who eats everything. He is the kingpin locally for all prominent lucrative projects, and Borreli walsh.

Most of the time for the boutique ones like RSM, Baker, big 4 even, you'll be doing liquidations, court liq, creditors voluntary windup etc. Its mainly pushing paper and printing letters, editing databases of creditors, nothing too hard to be honest.

If you managed to get into BW and NTan or Big 4, depending on your staffing, maybe you will get a CRO role, you get to beg banks to stall repayments or come out with a repayment plan, try to upend senior creditors if u are junior, cash out assets (mines, ships etc).

Paywise you'll be using big 4 as benchmark, boutique's pay probably take 10-20% lesser of big 4 benchmark. Nothing too interesting in a boutique firm, unless u enjoy doing paperwork and waiting for ink to dry. Bonuses for boutique probably AWS, but BW and Ntan potentially 3-6 months depending on your staffing on engagements.

Life style in Boutiques you are looking at 9-6 pm, hardly OT. Stronger restructuring could be 3-4 am. Pretty intense but you will get to learn and see alot of how crazy the world is..

I’m in one of the B4’s valuation team and i talk to the rx people alot. If you wanna do rx, go for the B4. If you ever get bored can easily switch to m&a etc. boutiques really lower your exit ops

Originally Posted by Unregistered

It really depends on the company's ability to generate restructuring projects in Singapore. Likely, nTan is the person who eats everything. He is the kingpin locally for all prominent lucrative projects, and Borreli walsh.

Most of the time for the boutique ones like RSM, Baker, big 4 even, you'll be doing liquidations, court liq, creditors voluntary windup etc. Its mainly pushing paper and printing letters, editing databases of creditors, nothing too hard to be honest.

If you managed to get into BW and NTan or Big 4, depending on your staffing, maybe you will get a CRO role, you get to beg banks to stall repayments or come out with a repayment plan, try to upend senior creditors if u are junior, cash out assets (mines, ships etc).

Paywise you'll be using big 4 as benchmark, boutique's pay probably take 10-20% lesser of big 4 benchmark. Nothing too interesting in a boutique firm, unless u enjoy doing paperwork and waiting for ink to dry. Bonuses for boutique probably AWS, but BW and Ntan potentially 3-6 months depending on your staffing on engagements.

Life style in Boutiques you are looking at 9-6 pm, hardly OT. Stronger restructuring could be 3-4 am. Pretty intense but you will get to learn and see alot of how crazy the world is..

Hi, noticed that you separated BW and NT from the boutique firms in the second paragraph, are those 2 considered boutique too?

Also, who are the big players if big 4, rsm and BT are considered boutique?

Sry didnt meant to classify B4 being boutique, please forgo what i've said for that.

There is always a preconceived notion that in B4 it is easy to switch teams. If you are good in your work, your boss will want to keep you, if you suck at your work, your boss wont want to let you go over to the other team to save his face. In the rare chance that you managed to impress people properly, you get to go. Honestly, you don't get to do much "M&A" stuff in local restructuring, I cant see any reason you can sell much of your skills and work experience to justify a similar associate role in M&A.

But B4 is still better than getting holed in boutique doing lameass liquidations where you follow a checklist of items to be done.

They are the "elite" boutique, if there is even this term for the restructuring guys. They are specialists in the restructuring space, NTan did TT international restructuring and many more high profile cases, hearsay he is the preferred adviser for a big local bank when it comes to distressed assets.

Big guys that are active in local industry are NTan, PwC, EY, KPMG (deloitte is more focussed on sports..), BW

Culturally local businesses are too narrow minded and tight fisted to let go of some cash to employ turnaround consultants when things are going downhill. Often when they finally decided to hire one, its probably too late usually

Exit opp wise - bank NPA, Distressed assets, another boutique firm (it is very common to see them hop around, just a quick surf on LinkedIn and you can tell), B4

IF you are tired of doing audit, consider hopping over to restructuring teams in B4 or boutique for a better 9-6 life. But be wary that you may feel too comfortable and end up being pigeon holed for the rest of your life in this industry.

Originally Posted by Unregistered

Hi, noticed that you separated BW and NT from the boutique firms in the second paragraph, are those 2 considered boutique too?

Also, who are the big players if big 4, rsm and BT are considered boutique?

The accounting firms are NOT restructuring firms. Same as why their corporate finance arm are not considered in the same league as BB investment banking
Big 4, BT, RSM are accounting firms
The real restructuring firms in Singapore are nTan, FTI Consulting, A&M, Alix, BW and Houlihan lokey. The big 4 are paper pushers

[Cathrine Jacobi]

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