Sign In. When answering this question, it can be helpful to mention a specific client or group of clients you worked with in the past who were particularly happy with your services. How do you approach problem solving? Interviews for Top Jobs at Houlihan Lokey. Anonymous Interview Candidate in New York, NY, The process took 2 weeks. I didn't think there was anything too far out of norm. I met with several VPs and MDs. To solve this issue, I reached out to some of our existing clients and asked if they would be willing to give us additional funds so we could invest in other projects. I interviewed at Houlihan Lokey (New York, NY) in Dec 2009. People have rated the overall interview experience as . Culture, benefits, comp? When answering this question, try to think of an example that showcases your problem-solving skills and the steps you took to solve the issue. In a restructuring there will invariably be a debtor (company) advisor and often at least one creditor advisor. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. However, with equity there is a defined downside (zero) and an unlimited upside. The process took 4 weeks. If you are not familiar with Bloomberg Terminal, consider asking the interviewer what it does so that you can learn more about it before your interview. In this Houlihan Lokey One-on-One interview, Managing Director . I interviewed at Houlihan Lokey (San Francisco, CA). Common Multiples used. Houlihan Lokey is prestigious for a reason it does seem to be an excellent place to launch your banking career IF you are a banking material. Our transaction expertise and leadership in the field of valuation inspire confidence in the financial executives, boards of directors, special committees, retained counsel, investors, and business owners we serve. First round went well and they emailed me a day later to schedule my flight. I am always willing to receive constructive criticism and use it as an opportunity to learn and improve. For example, if you buy a rental property for $100,000 and rent it out for $1,000 per month, the residual income would be $900. To help you prepare, weve compiled a list of some potential questions you may be asked in an interview with Houlihan Lokey, along with some sample answers. Glassdoor has millions of jobs plus salary information, company reviews, and interview questions from people on the inside making it easy to find a job thats right for you. I interviewed at Houlihan Lokey (New York, NY) in Sep 2022. . Est Annual Revenue: $500m+ Website. It was mostly standard stuff. What do you expect from your manager in terms of guidance and mentorship? The process took 2 weeks. Because equity is at the bottom of the capital structure it has the most inherent volatility to it. If you hover over the various sections of the doughnut, you will see the % breakdown of each score given. Many who interview for restructuring jobs can recite the formulaic accounting answers perfectly, but then have trouble describing how exactly restructuring works (this is why the equity value question above is so common) or what a distressed company really is. I had prepped for this question. Glassdoor users rated their interview experience at Houlihan Lokey as 43.0% positive with a difficulty rating score of 3.11 out of 5 (where 5 is the highest level of difficulty). From a simple recovery perspective, you have an EV of $150 (30*5). I interviewed at Houlihan Lokey. Prepare for the types of questions you are likely to be asked when interviewing for a position at Houlihan Lokey. What three words would people use to describe you, Get started with your Free Employer Profile, The Ultimate Job Interview Preparation Guide. We had two weeks to find solutions to their problems before they released their quarterly report. Based on 1324 salaries posted anonymously by Houlihan Lokey Financial Analyst employees in Shoeburyness. You can also use this as a chance to demonstrate that you have done some research about the organization. Whenever you go into any interview, you should have a few recent deals of theirs to talk about. Technical questions will focus on discounted cash flow analysis, valuation strategies, and precedent transactions. More realistically, if no restructuring has yet been done the price of equity reflects the fact that maybe the debt holders above (in this case the Senior Notes) really don't want the company to file. Houlihan Lokey (HLI Quick Quote HLI - Free Report) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended March 2020.This . Financial Analyst (39) Analyst (33) Investment Banking Analyst (26) Summer Analyst (21) Investment Banking Summer Analyst (17) Houlihan Lokey (a.k.a. I developed an effective recruiting strategy that included reaching out to universities in the area to find candidates who were looking for internships or entry-level roles. Houlihan Lokey; Interviews; Financial Analyst; Houlihan Lokey. (Know accounting, especially cash flows statement), Get started with your Free Employer Profile, The Ultimate Job Interview Preparation Guide. Additionally, the culture is one where you never feel like another number; all the senior officers in my group know me by name, which is very different than my previous employer. ~ Vault Report. Interview. The interview process at Houlihan Lokey can vary depending on the position you are applying for. Id then meet with my client to discuss our findings and recommendations before presenting it to senior management. I interviewed at Houlihan Lokey. those written by existing HLHZ employees) give out raving reviews. Status: Intern. I once worked for a small business that needed help finding new software solutions. They weren't that hard, but it was awkward. Anyone know anything about Houlihan Lokeys M&A Tax group? At the analyst an associate level. Houlihan Lokey has the largest, most experienced worldwide financial restructuring practice of any investment banking firm, with over 300 professionals located in offices across the globe. The process was fairly simple. Glassdoor has millions of jobs plus salary information, company reviews, and interview questions from people on the inside making it easy to find a job thats right for you. Flew in the morning of and interviewed until about 4PM. I hope this little overview has been helpful. Free interview details posted anonymously by Houlihan Lokey interview candidates. HL has made its name for taking on many interesting creditor mandates. This question allows the interviewer to assess your experience with M&A, which can be an important part of working for this company. The process took 6 weeks. Simply put, as a company gets more insights, the confidence of a "true score" increases so it is pulled closer to its simple average and away from the average of the entire data set. City: Los Angeles, CA United States. We assist financial sponsors, including private equity funds, hedge funds, and credit funds, through a range of affiliate transactions. Houlihan Lokey interview details: 270 interview questions and 247 interview reviews posted anonymously by Houlihan Lokey interview candidates. What multiple would you use to evaluate these two companies and why? Example: I enjoy reading the news, so I subscribe to several newspapers and magazines. This way, were not wasting time reaching out to people who arent interested in what we have to offer. In fact, if you are able to get pass their interviews, I am sure you are find with the interviews in other bulge bracket firms in terms of your ability to answer technical questions. Use examples from your previous work to highlight your expertise in this area. Do you have experience with mergers & acquisitions? Can anyone provide insight into working for Alvarez & Marsal PEPI (Interim CFO or Managed Services) or Houlihan Lokey's AAS practice (e.g. I applied online. Walk me through your resume. Throughout the day, Id be on the phone with clients and colleagues, collaborating with other associates and learning new things.. I interviewed at Houlihan Lokey (New York, NY) in Nov 2019. If you ask me, I would think the safest answer should be something around their renowned restructuring practice. Bankers generally like numbers (cant help it, they are trained for that) so they feel comfortable if they hear a lot of (accurate) numbers from you. There are also branches in Europe (London, Paris, Frankfurt) and Asia (Tokyo, Hong Kong, Beijing). I hope you will find the following information on Houlihan Lokey careers and interview tips helpful. 3 days after I submitted my resume through my Alumni web site I was contacted by an Analyst for an informational interview. Our firms culture is very collegial, supportive, and fun. Felt very aggressive and uncomfortable. With that being said, HL does take on debtor engagements as well and in terms of the amount of fees they generate it's about 50 / 50 between debtor and creditor-side work (this reflects the fact that debtor-side mandates result in higher fees). Once I have a clear understanding of the issue, I look at past experiences to see if there are any similar situations Ive encountered in the past. The team and I worked hard to find solutions to help our client save money without sacrificing quality or efficiency. They ended up saving thousands of dollars per year, which allowed them to retire early.. 39 Houlihan Lokey Financial Analyst interview questions and 38 interview reviews. Make sure review accounting related knowledge. Obviously the reason why PIK is usedis to try to keep the amount of cash interest flying out the door to a minimum thus protecting the likely already fragile liquidity position of the company. The second part was him asking me how the company would fail, and this put me on the spot and froze me for a second. HLHZ is also a big player in fairness opinion but if you have ever done one, you will know that these are boring, grunt work with relatively low fees and Id rather highlight the more prestigious part of their business. Get started with your Free Employer Profile, The Ultimate Job Interview Preparation Guide. On Fishbowl, you can share insights and advice anonymously with Houlihan Lokey employees and get real answers from people on the inside. This question is an opportunity to show your enthusiasm for the company and its values. Houlihan Lokey has extensive expertise in mergers, acquisitions, divestitures, activist shareholder and takeover defense, and other related advisory services for a broad range of U.S. and international clients. . Companies. WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file, 101 Investment Banking Interview Questions, Free 1 month access by adding just 1 salary datapoint, REAL salary bonus data across 1,000+ companies, Plus free 1 month access to 10,000+ interview insights. CV and cover letter practice as well as interview practice. Can anyone speak to the salary levels of houlihan for advisory? Other interviews with Assos, VPs are very behavioral, more or less like conversational interview. Example: A bank offers deposit accounts, loans and credit cards, while an insurance company provides life, health and property insurance. For many who are just getting interested in restructuring, HL's case study - The Troubled Company - is the first thing that they read. 1. Houlihan Lokey Salaries trends. Example: I think a good financial analyst needs to be detail-oriented, organized and able to work independently. Nothing out of the ordinary. Just study the 400 BIWS questions guide and you shouldn't be worried about technicals. Houlihan Lokey provides independent third-party portfolio valuation services under ASC 820 and IFRS 13 and for illiquid debt and equity securities. Asked me a lot of questions abt if I had gotten other offers and when I had to respond to them if I had them. The firm serves corporations, institutions, and . All Rights Reserved. If we hired you, what would be your strategy for recruiting new business? First round interview behavioral 45 minute. I interviewed at Houlihan Lokey (New York, NY) in Oct 2022. Real Estate, Lodging, and Leisure group. If you hover over the various sections of the doughnut, you will see the % breakdown of each score given. Reason being is that when you have a Chapter 11 there's a whole docket that you (hypothetically) could go through, whereas with an out-of-court the only public information available will generally be press releases discussing the proposal and what the results of it were. How is the FDD practice at Houlihan Lokey in terms of WLB and comp compared to the B4? However, if you explain what the impetus for restructuring investment bankers getting involved in a particular situation is, that makes your answer really stand out because it shows your practical understanding of restructuring. Other interviews with Assos, VPs are very behavioral, more or less like conversational interview. OK. Before we get too excited about multiple offers and exit opportunities, lets see whether we can land the job first. . This question is a way for the interviewer to assess your communication skills. Are you familiar with Bloomberg Terminal? Choosing a selection results in a full page refresh. How comfortable are you with public speaking? Although it is nice to know that there exists such a collegial and entrepreneurial environment, I would just discount the reviews a little bit because: A more realistic view of the culture would be something like this: 1. For other groups, your realistic exit would be smaller mid-market private equity firms. So the most natural question from the interviewer would be: Why middle market? or Want to Sign up with your social account? This employer has claimed their Employer Profile and is engaged in the Glassdoor community. Why do you want to work at Houlihan Lokey? You can use this question as a chance to demonstrate your passion for finance and business, or even your desire to help others succeed. I would certainly recommend reading it. 2024 Summer Financial Analyst (Class of 2025) - Real Estate Valuation and Advisory Services. 3. If we assume a 40% tax rate, then $100 of PIK interest on the income statement will result in net income falling by $60. Feel free to craft your answer based on this with a personal touch. Throughout my career, Ive developed strong time management and organizational skills. I interviewed at Houlihan Lokey (New York, NY) in Sep 2022, Real Estate- REITB Group 23 Houlihan Lokey Summer Analyst interview questions and 21 interview reviews. 2005-2023 Wall Street Oasis. Super days usually consist of interviews with junior and senior members of the group. 1 M&A advisor for the past five consecutive years in the U.S., the No . . Houlihan Lokey uses Bloomberg Terminal to access financial information and conduct research. 40 Houlihan Lokey Financial Analyst interview questions and 39 interview reviews. Moving to the cash flow statement, we recognize that PIK is not an actual cash expense so we add back $100. Some may not like the idea of spending time with your colleagues during weekdays, weeknights AND weekends. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. I interviewed at Houlihan Lokey (London, England) in Feb 2017. Houlihan Lokey has the largest, most experienced worldwide financial restructuring practice of any investment banking firm, with over 300 professionals located in offices across the globe. Announced or completed transactions. Very nice people and not super hard questions. This question can help interviewers learn more about your interests and how you spend your free time. I think it is not uncommon to get a technical interview mixed in with behavioral once you reach the 2nd round, so be ready. I also try to learn as much as I can about the audience so I can tailor my speech to them.. Financial Restructuring Summer Analyst. Nova York, Estados Unidos. This is because as equity prices tend toward zero, much of the value of equity is in its underlying optionality. Most difficult was live cases. This question is an opportunity to show the interviewer that you are motivated by more than just money. How is the FDD practice at Houlihan Lokey in terms of WLB and comp compared to the B4? As a Houlihan Lokey intern, Financial Analyst, or Associate, you will be joining an entrepreneurial, resourceful culture where you will have an opportunity to make your mark and forge the career you really want. . I find it interesting to see whats going on in the world and how it might affect our economy. Houlihan Lokey Price Performance. The interview process at Houlihan Lokey can vary depending on the position you are applying for. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. In a Chapter 11 you have traditional Chapter 11s - sometimes called free fall Chapter 11s - that involve the company filing and then, under the protection of the bankruptcy court, negotiating with creditors over what the ultimate Plan of Reorganization will look like. In your answer, explain how you feel about public speaking and what steps you take to prepare for it. I conducted extensive research into the market to find companies that would make good partners. The process took 3 weeks. Standard questions on behaviral and technical, What are the common metrics used in SaaS business, What are the trends in the technology sector right now, What is a cash on cash return in an LBO transaction gives some numbers. Contribute to the database and get 1 month free* Full online access! In 2022, we worked on more than 125 restructuring-related transactions on behalf of companies, their creditors and shareholders, and other constituents. What was your most successful experience working with clients? total one hour. . The interview went pretty well, I got invited to Dallas for a Super Day which was relaxed but a little unorganized. Want Access to these Houlihan Lokey Interview Insights? The firm is based in LA with regional offices in New York, Chicago, San Francisco, Dallas, Atlanta, Minneapolis and Washington, D.C. Here are 6 reasons why middle market / boutique investment banks can be more attractive than the bulge bracket. Wednesday, April 20, 2022 . At the analyst an associate level. 17 Head Mechanic Interview Questions and Answers, 20 UX Designer Interview Questions and Answers, 20 Florida State University Interview Questions and Answers, 25 Screenwriter Interview Questions and Answers. Find a Great First Job to Jumpstart Your Career, Stand Out From the Crowd With the Perfect Cover Letter, How to Prepare for Your Interview and Land the Job. 2005-2023 Wall Street Oasis. Asked technicals that you would expect in any finance interview coupled with questions abt former experience and coursework related questions. Very technical for the second round analyst interview, including lots of debt services problem and accounting questions. Again, if you are in the restructuring group, you shouldnt have problem switching to other restructuring shops (although Ill have a hard time understanding why). Investment Banking. Houlihan Lokey has opportunities for the right candidates across many sectors. Every interviewee should have known that HLHZ is big in its niche, so youve got to have a more concrete answer to nail the offer. Example: I expect my manager to be available when I need them and to offer me feedback on my performance regularly. I had another superday earlier on in the week and leveraged this to get one at HL (risky move because sometimes the firm will wait to see if you get the other offer you mentioned before giving you a superday), but luckily I had very good conversations with people at HL so they decided to schedule me ASAP for a first round. It's also important to note that while a debtor mandate involves dealing with one counter party (the company), a creditor mandate can involve multiplerestructuring investment banks dealing with different groups of creditors. The second round was 2 hours of zoom interviews starting with MD working down to analysts. I was also told their business and team structures in China. For instance a debt exchange may involve the new debt instrument - that folks are exchanging into - having 5% cash interest and 4% PIK, for example. Describe a situation where you overcame a challenging obstacle at work. Houlihan Lokey Howard & Zukin, or HLHZ) is founded by Houlihan and Lokey in 1972. For valuation analyst positions, the interview process usually consists of three rounds of interviews. The phone interview starts with a personal question and directly jumps into technical questions. HLHZ arguably has the best restructuring group out there and they are proud of it. Video interviews with a blend of fit & technical questions on each round. The process is going well in around 40 mins. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. We hired a consultant to help us find the right software for our needs. Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries). View job. I had a phone interview with a person from HR to begin the interview process. CAIA and Chartered Alternative Investment Analyst are trademarks owned by Chartered Alternative Investment Analyst Association. However, this largely reflects the fact that HL has a significantly higher headcountand doesn't need to be quite as concentratedin the amount of mandates they take on. Almost no company has enough cash on hand to just pay off the principal balance of their debt when it comes due (it likely wouldn't be prudent to do so! What makes you like real estate? Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries). About a week later I was invited for the 2nd round in New York. Have you ever worked with any outside vendors? People have reported that the interview at Houlihan Lokey is medium. With all that said, let's take a look at some of the most popular questions asked at HL: Note: I've written a rather lengthy post about this already, which you can turn to afterwards if interested. Houlihan Lokey . Compensation info for 1st Year Analyst in Houlihan Lokey (London). The process was fairly straightforward and quick. However, most positions will require at least one behavioral interview and one technical interview. This is because the vast majority of those who go into restructuring interviews - even those who ultimately get the job - really don't have a feel for what the job is all about. Nearly every restructuring is slightly different and things get complicated quite fast. Please describe the interview / hiring process. It was a 30 min phone call (1st) and super day was 2 weeks after on-site. Investment Banking, Corporate Finance. interview and assessment can be done separately. Example: A typical day as an associate would start with me reading through emails from my clients, reviewing their financial statements and researching comparable companies in order to provide them with accurate valuations. Anyone have insight on Houlihan Lokey Dallas? What this particular way ofanswering this question does is show you implicitly understand the "Why?" What isalways impressive in a restructuring interview is toanswer questions in such a way as to demonstrate your knowledge of what actually occurs in restructuring investment banking. Culture, benefits, comp? In an out-of-court restructuring you can do a simple amend and extend of a revolver or term loan to push out maturities, do a debt exchange (including fancy sounding things like a non-pro rate uptier), do a debt exchange with equtization, etc. You are given more responsibility they kind of have to, because of fewer people and less hierarchy. After meeting with them several times, we determined that they could save money by changing some of their investment options. Interview. Trustee). Tell me about yourself? Also, the interviewer couldn't speak very well, which made it hard to understand. When it comes to interviews, preparation is key. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial . Comparison between these multiples. Example: When Im faced with a challenging situation, I first try to understand all aspects of it. Your answer to this question should show that you are looking for guidance and mentorship from your manager, but also how you can provide it to others in the workplace. After my initial phone interview I had a technical interview with a VP.