The challenging financial climate of recent years has caused many businesses to struggle. The accumulation of debt and high interest rates are driving businesses to seek strategic restructuring opportunities to cut costs, improve inefficiencies, and free up capital.
For candidates in search of jobs in restructuring, the market looks promising, with the chance of significant career opportunities and advancement on the horizon for those with the right skill set. Whether you are in the early stages of your corporate restructuring career or at a more senior level, here is an overview of how the industry is shaping up and what skills are needed to carve out a successful career in corporate restructuring.
Career Progression in Corporate Restructuring
At the beginning of your career in corporate restructuring, your focus will be on gaining foundational knowledge and practical experience within the industry. Your role will include financial analysis, data collection, and assisting senior professionals on restructuring projects.
Once you have proven yourself within a company, you will begin to take on more responsibility by leading project teams, conducting complex financial modelling, and developing restructuring plans. This will be at a Senior Associate or Manager level. At this stage, you’ll also start managing client relationships and interacting more with other stakeholders.
With rising restructuring activity, there’s a growing demand for experienced mid-level professionals. Opportunities exist in traditional restructuring firms, along with industry-specific restructuring consultancies catering to specific sectors.
Once you make it to senior positions you will be leading highly complex restructuring projects, managing teams, and developing client relationships. You’ll also be involved in business development and strategic planning of the company. For those that make it to the most senior positions, your focus will move towards deal acquisitions and securing new clients.
Ongoing Economic Pressures
Like the rest of the world, the UK has experienced significant economic pressures, creating fertile ground for professionals in corporate restructuring. With insolvencies reaching a 30-year high in 2023, the need for strategic restructuring expertise has never been greater.
Over recent years, many companies have taken on substantial debt to weather economic downturns. This heavy debt burden has become increasingly problematic in the face of persistently high interest rates. This has led to many companies facing financial distress, resulting in a surge of distressed mergers and acquisitions (M&A) and insolvencies, as businesses seek ways to manage their financial obligations and survive in a tough economic climate.
If you are interested in hearing more then read our blog on the current political and economic factors affecting the financial markets.
Distressed M&A Activity
The rise in distressed M&A activity is creating real opportunities for senior-level restructuring professionals. Such transactions require skilled professionals who can identify the value in distressed assets, and implement effective turnaround and restructuring strategies.
Consequently, the demand for experts in financial analysis, due diligence, and post-acquisition integration is set to increase, making the honing of these skills crucial for those looking to build their career in this area of restructuring.
The increase in insolvencies and financial distress is also creating a need for more legal and advisory services. Law firms, accounting firms, and consultancy practices specialising in corporate restructuring are likely to see a spike in demand for their services.
Professionals in these sectors will play a critical role in navigating the complex legal and financial landscapes involved in the restructuring process. Therefore, building on your legal expertise will be a great advantage.
Importance of Proactive Restructuring
Restructuring isn’t just about short-term improvements. There is now a major shift towards creating long-term value. Companies are taking a more strategic and proactive approach, aiming to create a more sustainable and competitive business model in the long run.
Early identification of operational and financial issues and proactive restructuring efforts are now crucial to prevent full-blown insolvency and maximise asset value for businesses. Therefore, those with a proven strategic mindset will see greater restructuring career progression.
Finding the Right Opportunities
When it comes to jobs in restructuring, there are many different areas to specialise in. Finding your niche and the sector that best suits your interests and skill set is key to long-term success. As your corporate restructuring career progresses, becoming a sector specialist will provide a significant advantage, particularly in securing new clients. Expert knowledge of an industry makes a crucial difference to businesses when deciding who is best suited to implement a restructuring plan.
Different industries face unique restructuring challenges. For example, the hospitality sector is currently grappling with rising labour costs, likely necessitating cost-cutting measures. Being aware of these industry nuances is crucial for crafting tailored restructuring plans and achieving the best outcomes for your clients or company.
If you are considering a new role here are our tips on preparing for an insolvency & restructuring interview.
How Gambit Search Can Help Build Your Restructuring Career
As expert financial restructuring recruiters, we have built long-standing relationships with key hiring managers and decision-makers. Our years of experience in insolvency and restructuring recruitment, along with working within the industry ourselves, has given us a deep understanding of the sector. We know precisely what hiring managers are looking for and which skills are most in demand.
Our goal is not just to find you a new job but to match you with a role that aligns with your career aspirations and sets you on the path to ongoing success. Whether you are just starting your restructuring career or looking for a new opportunity in insolvency and restructuring to further your corporate restructuring career, we can help. If you are looking to secure a new role in corporate restructuring, get in touch with our team here or by calling 0203 633 2500.
