State of bankruptcy/restructuring hiring?

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State of bankruptcy/restructuring hiring?

Post by Anonymous User » Tue May 19, 2020 1:46 pm

Can anyone weigh in on the state of BK hiring right now? Any insight as to Kirland/Weil's strategy to bulk up their BK groups?

On a more specific note, does anyone want to take a stab at what the market will look like for DE/SDNY BK clerks whose terms will be ending in 2021?

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Re: State of bankruptcy/restructuring hiring?

Post by Anonymous User » Tue May 19, 2020 4:30 pm

Anon For obvious reasons - I received a nice big signing bonus to switch firms as a restructuring associate. I don’t think everyone lateraling among restructuring practices right now is getting one, but I know some are.

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Re: State of bankruptcy/restructuring hiring?

Post by Anonymous User » Tue May 19, 2020 5:11 pm

Anonymous User wrote:
Tue May 19, 2020 4:30 pm
Anon For obvious reasons - I received a nice big signing bonus to switch firms as a restructuring associate. I don’t think everyone lateraling among restructuring practices right now is getting one, but I know some are.
Any more info on the firms? I understand if you can't be any more specific.

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Re: State of bankruptcy/restructuring hiring?

Post by Anonymous User » Wed May 20, 2020 11:06 pm

Anonymous User wrote:
Tue May 19, 2020 5:11 pm
Anonymous User wrote:
Tue May 19, 2020 4:30 pm
Anon For obvious reasons - I received a nice big signing bonus to switch firms as a restructuring associate. I don’t think everyone lateraling among restructuring practices right now is getting one, but I know some are.
Any more info on the firms? I understand if you can't be any more specific.
The top shops - wouldn’t expect a bonus from DLA restructuring or anything like that

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Re: State of bankruptcy/restructuring hiring?

Post by Anonymous User » Thu May 21, 2020 6:53 pm

Mid-level here. Market has been very hot. We can basically relocate wherever we want and there are some signing bonuses available.

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Sackboy

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Re: State of bankruptcy/restructuring hiring?

Post by Sackboy » Thu May 21, 2020 8:19 pm

Anonymous User wrote:
Wed May 20, 2020 11:06 pm
Anonymous User wrote:
Tue May 19, 2020 5:11 pm
Anonymous User wrote:
Tue May 19, 2020 4:30 pm
Anon For obvious reasons - I received a nice big signing bonus to switch firms as a restructuring associate. I don’t think everyone lateraling among restructuring practices right now is getting one, but I know some are.
Any more info on the firms? I understand if you can't be any more specific.
The top shops - wouldn’t expect a bonus from DLA restructuring or anything like that
I'd be wary of taking the $$$ at Kirkland/Weil, assuming those are the firms offering big lateral bonuses (Kirkland definitely has a history of it). When this all dies down, I'm sure it's going to be a fight to stay on when they cull the heard. If I'm somewhere that's already lean and that went from moderately busy to very busy, I'd probably just stick it out there, because I'm probably not on the chopping block when things return back to normal. I've heard some BK horror stories after some big restructurings have ended, though not necessarily at Kirkland/Weil.

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Re: State of bankruptcy/restructuring hiring?

Post by Anonymous User » Fri May 22, 2020 4:30 pm

Anon Kirkland bk associate.

We've been insanely busy, but we haven't added any associates during this time. I wouldn't know if there are hires in the works, but don't think we will add significantly. We've been steadily growing our group the past several years already, and they've been staffing cases with a lot of corporate associates.

decimalsanddollars

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Re: State of bankruptcy/restructuring hiring?

Post by decimalsanddollars » Fri May 22, 2020 4:38 pm

I think the "top shops, not DLA" is kinda the opposite of what's actually going on. Most firms that can hire right now are trying to beef up their just-okay bk/restr practices, rather than the big debtor shops adding bodies (as anon K&E indicated). I'd be looking one notch below the top for hot hiring right now.

jarofsoup

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Re: State of bankruptcy/restructuring hiring?

Post by jarofsoup » Fri May 22, 2020 5:28 pm

I am not sure that taking the sign up bonus for a place like Weil or Kirkland is worth it.

I know Weil laid off associates after Westinghouse ended. Sure they will do so after this big rush. Plus I really don’t want to work 300 hours a month.

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Re: State of bankruptcy/restructuring hiring?

Post by Anonymous User » Fri May 22, 2020 8:08 pm

I have restructuring lit and M&A experience. I am in M&A. Advice for me, a junior aiming to switch to BK/RS pls? How to sell myself? How can I leverage existing experience to that area - I honestly have little idea, a lot of RS seems quite financy. I will soon be out of a job and M&A is dead. :shock:

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Re: State of bankruptcy/restructuring hiring?

Post by Anonymous User » Fri May 22, 2020 8:21 pm

You have worked on bankruptcy and done finance. You want to do 100% bankruptcy.

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Re: State of bankruptcy/restructuring hiring?

Post by Anonymous User » Fri May 22, 2020 11:01 pm

Anonymous User wrote:
Fri May 22, 2020 8:08 pm
I have restructuring lit and M&A experience. I am in M&A. Advice for me, a junior aiming to switch to BK/RS pls? How to sell myself? How can I leverage existing experience to that area - I honestly have little idea, a lot of RS seems quite financy. I will soon be out of a job and M&A is dead. :shock:
Anon bk associate again. To poster above you, would be surprised KE is giving lateral bonuses. Really don't think we are hiring at all. Sound advice to stay away from this place right now, hours are inhumane. Hoping things will normalize come July.

In terms of leveraging yourself, probably most important thing is being able to demonstrate a genuine interest in bk. Otherwise, normal interview stuff. Highlight areas that are applicable.

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