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Restructuring Bankruptcy Associate Jobs in Chicago, IL

Alvarez & Marsal

Senior Associate, Restructuring

Chicago, IL · On-site

$15.50 - $18.50/hr

Description Restructuring Senior Associate, Alvarez & Marsal Chicago Office About Alvarez & Marsal ... Developing pre-bankruptcy plans and assisting with bankruptcy case administration, which includes ...

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All JobsRestructuring Bankruptcy Associate JobsRestructuring Bankruptcy Associate Jobs in Chicago, IL

Restructuring Bankruptcy Associate information

See Chicago, IL salary details

$54.6K

$115.1K

$176.2K

How much do restructuring bankruptcy associate jobs pay per year?

As of Jul 19, 2026, the average yearly pay for restructuring bankruptcy associate in Chicago, IL is $115,114.00, according to ZipRecruiter salary data. Most workers in this role earn between $85,500.00 and $141,100.00 per year, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive as a Restructuring Bankruptcy Associate, and why are they important?

To thrive as a Restructuring Bankruptcy Associate, you need a Juris Doctor (JD) degree, strong legal research and writing skills, and a solid understanding of bankruptcy law and financial restructuring. Familiarity with legal research databases like Westlaw and LexisNexis, as well as knowledge of court filing systems, is essential. Excellent analytical thinking, negotiation abilities, and effective communication with clients and stakeholders are standout soft skills. These competencies are crucial for navigating complex legal matters, managing cases efficiently, and achieving favorable outcomes for clients in high-pressure situations.

How much do restructuring lawyers make?

Restructuring lawyers typically earn between $100,000 and $200,000 annually, with senior associates and partners earning higher salaries. Compensation varies based on experience, firm size, and geographic location, and often includes bonuses and benefits. These lawyers usually work in law firms or corporate legal departments specializing in bankruptcy and financial restructuring.

What is a Restructuring Bankruptcy Associate?

A Restructuring Bankruptcy Associate is a legal professional, typically an attorney, who specializes in advising companies, creditors, or other stakeholders during financial distress, insolvency, and bankruptcy proceedings. They assist clients with legal strategies for restructuring debt, navigating Chapter 11 or other bankruptcy filings, and negotiating with creditors. Their work often includes drafting legal documents, conducting research, and representing clients in court or negotiations to help them achieve the best possible outcome during financial restructuring.

What are some common challenges faced by Restructuring Bankruptcy Associates in their daily work?

Restructuring Bankruptcy Associates often encounter the challenge of managing high volumes of complex case files, each with tight deadlines and shifting priorities. The role requires balancing detailed legal research and writing with client meetings, court appearances, and negotiations with multiple stakeholders, such as creditors and trustees. Associates must quickly adapt to evolving bankruptcy laws and frequently collaborate with cross-disciplinary teams, including finance and litigation experts, to devise effective restructuring strategies. This dynamic environment demands strong organizational skills, resilience under pressure, and clear communication to succeed.

What is a financial restructuring associate?

A financial restructuring associate is a professional who assists in reorganizing a company's debt and operations to improve financial stability, often working on bankruptcy or insolvency cases. They analyze financial data, develop restructuring plans, and coordinate with legal and financial teams to facilitate the process.

Can you still get a job after bankruptcy?

Restructuring bankruptcy associates, like other professionals, can still find employment after bankruptcy, as most employers do not consider bankruptcy a disqualifying factor. However, financial history may be reviewed during background checks, and maintaining good credit can improve job prospects, especially in roles involving financial responsibilities or security clearances.

What is the lowest position in a law firm?

The lowest position in a law firm is typically a legal assistant or legal secretary, responsible for administrative tasks and supporting attorneys. Entry-level roles may also include clerks or interns, depending on the firm's structure and size.

What is the difference between Restructuring Bankruptcy Associate vs Bankruptcy Litigation Associate?

AspectRestructuring Bankruptcy AssociateBankruptcy Litigation Associate
Primary FocusReorganizing distressed companies, negotiating restructuring plansHandling disputes and litigation related to bankruptcy cases
Work EnvironmentCorporate law firms, financial institutions, restructuring teamsLitigation departments, courtroom settings, dispute resolution teams
Required CredentialsJD, State Bar admission, strong understanding of bankruptcy lawJD, State Bar admission, strong litigation and courtroom skills

Restructuring Bankruptcy Associates focus on helping companies reorganize and negotiate debt restructuring plans, often working closely with financial stakeholders. Bankruptcy Litigation Associates, on the other hand, handle disputes and courtroom proceedings related to bankruptcy cases. Both roles require a JD and bar admission, but their daily tasks and work environments differ significantly.

What are popular job titles related to Restructuring Bankruptcy Associate jobs in Chicago, IL? For Restructuring Bankruptcy Associate jobs in Chicago, IL, the most frequently searched job titles are:
What job categories do people searching Restructuring Bankruptcy Associate jobs in Chicago, IL look for? The top searched job categories for Restructuring Bankruptcy Associate jobs in Chicago, IL are:
What cities near Chicago, IL are hiring for Restructuring Bankruptcy Associate jobs? Cities near Chicago, IL with the most Restructuring Bankruptcy Associate job openings:
Restructuring Bankruptcy Associate jobs near you

Corporate Restructuring Associate Attorney

Direct Counsel

Chicago, IL

$235K - $435K/yr

Full-time

Re-posted 11 days ago

Job description

Corporate Restructuring Associate Attorney (2+ Years)
Locations: Chicago, IL | New York, NY
Salary: Competitive based on class year (approximately $235,000–$435,000+), plus discretionary bonus

Direct Counsel is seeking a Corporate Restructuring Associate to join a leading Am Law firm's Financial Restructuring Practice Group. This opportunity is open to junior and senior associates with 2+ years of restructuring experience who are looking to work on sophisticated in-court and out-of-court restructuring matters representing lenders, debtors, and other key stakeholders.

The ideal candidate will have experience handling complex Chapter 11 reorganizations, workouts, and restructuring transactions, with opportunities to advise institutional and private credit lenders as well as public and private companies across a wide range of industries.

Responsibilities
  • Advise clients on complex in-court and out-of-court restructuring matters.
  • Represent lenders, debtors, and other stakeholders in:
    • Chapter 11 reorganizations
    • Out-of-court restructurings
    • Workouts
    • Distressed transactions
  • Draft and negotiate loan documents and restructuring-related agreements.
  • Prepare core restructuring documents, including:
    • Plans of reorganization
    • Restructuring support agreements
    • First-day motions
    • Chapter 11 pleadings and filings
  • Advise clients on creditor rights, restructuring strategies, and the exercise of remedies.
  • Collaborate with multidisciplinary teams on sophisticated restructuring and finance matters.
  • Manage multiple complex matters while providing practical, business-focused legal advice.
Qualifications
  • J.D. from an accredited law school with strong academic credentials.
  • Active bar admission in Illinois or New York, depending on office preference.
  • 2+ years of experience in corporate restructuring, bankruptcy, or financial restructuring.
  • Experience representing lenders, debtors, or creditors in Chapter 11 proceedings and out-of-court restructurings.
  • Experience drafting and negotiating loan documents and restructuring-related agreements.
  • Strong legal research, writing, analytical, organizational, and communication skills.
  • Ability to manage multiple priorities in a collaborative, fast-paced environment.
Why Apply?
  • Join a nationally recognized Financial Restructuring practice handling sophisticated bankruptcy and restructuring matters.
  • Work on high-profile Chapter 11 cases and complex out-of-court restructurings across diverse industries.
  • Receive meaningful responsibility, direct client exposure, and mentorship from leading restructuring attorneys.
  • Competitive market compensation based on class year (approximately $235,000–$435,000+), discretionary performance bonus, and a comprehensive benefits package with outstanding opportunities for professional development and long-term career growth.