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.