2026 Full Time Associate - Restructuring & Special Situations

PJT Partners is a global advisory-focused investment bank. Our team of senior professionals delivers a wide array of strategic advisory, shareholder advisory, restructuring and special situations and private fund advisory and placement services to corporations, financial sponsors, institutional investors and governments around the world. We offer a unique portfolio of advisory services designed to help our clients achieve their strategic objectives. We also provide, through PJT Park Hill, private fund advisory and fundraising services for alternative investment managers, including private equity funds, real estate funds and hedge funds.
From the beginning, PJT Partners has firmly believed that having the best people is key to building an enduring franchise. Our perspective was, and remains, that a great team brings in both top tier clients and appeals to a wide-range of diverse, talented colleagues. Fostering an inclusive culture, which welcomes differing perspectives and beliefs, enables us to provide the best advice and insights to our clients.
To learn more about PJT Partners, please visit our website at
Responsibilities:
The Restructuring and Special Situations Group ("RSSG") advises both large and middle market companies, financial sponsors and creditor groups in financially distressed situations, both in Chapter 11 bankruptcy proceedings as well as in out-of-court restructuring, capital raising and strategic advisory transactions. Founded in 1991, the RSSG team consistently maintains an industry-leading market share having been named IFR's Restructuring Advisor of the Year four consecutive years in a row from 2020 - 2023.
As a leading restructuring and liability management franchise, the group has been involved in many of the largest and most high-profile reorganizations and liability management transactions that have occurred in the last decade. In a restructuring and liability management transaction, a wide range of strategic advisory services are provided including providing analyses and advice on recapitalizations, reorganizations, exchange offers and distressed mergers and acquisitions, raising debt and equity capital and providing expert witness testimony on a range of topics including corporate valuations.
Associates within RSSG have the responsibility to drive the deal process, manage resources and anticipate issues in highly complex, time-sensitive restructuring and liability management transactions. They work directly with senior deal team professionals, clients and other stakeholders to evaluate, structure, and negotiate complex financial and strategic alternatives. Associates receive broad-based exposure to a full spectrum of dynamic issues that arise in restructuring and liability management transactions, including valuation analyses, capital raising, mergers and acquisitions, asset sales, credit negotiations, exchange offers and Chapter 11 reorganizations.
Additional responsibilities include:

• Developing company business plans;
• Building financial models and valuation analyses;
• Analyzing capital structures, credit documents and indentures;
• Preparing various presentations to support deal processes;
• Facilitating client and counterparty due diligence and discussions with companies, legal counsel and turnaround advisors;
• Preparing liquidity, waterfall and liquidation analyses; and
• Working closely with junior deal team members to complete deal objectives.

Qualifications:
PJT Partners seeks to hire individuals who are highly motivated, intelligent and have excellent academic, leadership and extracurricular records. In addition, qualified candidates will possess the following:

• Strong interest in restructuring and distressed finance (prior experience in restructuring is not required)
• Outstanding qualitative, technical, and analytical skills
• Professional and confident communication skills to interface with senior management at clients and internal deal teams
• Strong work ethic who thrives in a collaborative and team-oriented culture
• Robust organizational and time management skills
• Robust knowledge of accounting and corporate finance

Requirements:
To be considered for the 2026 Full Time Associate Program, applicants must meet the following criteria:

• Currently enrolled in an MBA program*
• Anticipated graduation date: December 2025 - Spring 2026
• Resume must include expected graduation month/year
• Completion of "Suited" Assessment. Please see below for more details.

* Undergraduates and experienced hires should refer to the Campus Analyst or Experienced Hire opportunities listed on our career site.
Application Instructions:
Complete the PJT Partners online application for the "2026 Full Time Associate - Restructuring & Special Situations Group" position Complete the PJT Partners "Suited" Assessment. Please CLICK HERE to create an account. Suited is an A.I. powered assessment driven screening tool that uses assessments to holistically and objectively measure traits and characteristics that can be better predictors of success at PJT.
Please ensure you use the same email address used for your PJT application when registering on Suited.
Please complete each question through the end of the survey. A "Profile Complete" badge will appear once complete - there is no final "Submit" button.
Expected annualized base salary of $225,000