Group/Division/Type: Generalist. How do you approach problem solving? Had a behavioral call with an analyst then a technical phone interview with an MD. Investment Banking, Corporate Finance. 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. Most difficult was live cases. MDs were on phone the whole time and left early. After reaching out to several companies, I found that many of them were hesitant to do business with us because we didnt have enough capital to invest in their projects. The number you see in the middle of the doughnut pie chart is the simple average of these scores. Sign In. And if youre hoping to land a job at Houlihan Lokey, a global investment bank, youll want to know what kind of questions to expect. About a week later I was invited for the 2nd round in New York. MCOL. . Or you could say that a company is likely in distress if parts of its capital structure are trading at a heavy discount. I believe that if I have questions or concerns about my work, I should feel comfortable enough to ask my manager for help.. Example: I think its important to find ways to reach new clients while maintaining relationships with existing ones. I however only made it this far- even though I am extroverted and did an investment banking internship :( Houlihan Lokey has the largest summer and full-time analyst class of any restructuring investment bank. 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. Be assertive. Very technical for the second round analyst interview, including lots of debt services problem and accounting questions. The process is going well in around 40 mins. 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. I interviewed at Houlihan Lokey (Los Angeles, CA) in May 2019. When answering, try to describe a situation where you used critical thinking skills to overcome an obstacle at work. Prepare for the types of questions you are likely to be asked when interviewing for a position at Houlihan Lokey. Anonymous Interview Candidate in New York, NY, The process took 2 weeks. Creditor mandates usually require quite a bit less work than debtor mandates. All Rights Reserved. After meeting with them several times, we determined that they could save money by changing some of their investment options. Financial Restructuring Summer Analyst. Investment Banking. If you hover over the various sections of the donut, you will see the % breakdown of each score given. or Want to Sign up with your social account? Houlihan Lokey has the largest worldwide financial restructuring practice of any investment banking firm, with offices and experienced professionals located across the globe. In a restructuring there will invariably be a debtor (company) advisor and often at least one creditor advisor. If you look at the Vault report, all the verified reviews (i.e. The business's 50 day moving average is $94.02 and its two-hundred day moving average is $87.53. Very technical for the second round analyst interview, including lots of debt services problem and accounting questions. More Responsibility. It was mostly standard stuff. I interviewed at Houlihan Lokey (New York, NY) in Dec 2009. Why do you want to work at Houlihan Lokey? Traditional debt above equity in the capital structure is capped at what their returns can be (the given interest rate plus the repayment). 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. 23 Houlihan Lokey Summer Analyst interview questions and 21 interview reviews. If you can answer the last question, it means that you can build a full financial model right away. Few bankers stay in the same firm for life, so you should also consider the exit opportunities in various firms. 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. OK. Before we get too excited about multiple offers and exit opportunities, lets see whether we can land the job first. There are 130 jobs at Houlihan Lokey. Their website lists out the many awards they won over the years. I hope you will find the following information on Houlihan Lokey careers and interview tips helpful. . Explore more on salary insights by experience and location. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. What makes you like investment banking? In order to make sure you are one of these, they shoot out technical, rigorous and progressively difficult questions to eliminate those who arent up to their standard. Nearly every restructuring is slightly different and things get complicated quite fast. Rotational Program: -Financial Restructuring and M&A (Business Services) The interviewee is professional. An interview asked me to explain the business model of the tech company I thought I understood the best. The phone interview starts with a personal question and directly jumps into technical questions. On campus interview for first round, then invite to office. This prior agreement allows the debtor to leverage the bankruptcy process to distinguish debts - pursuant to what the creditors agreed with previously - and exit the bankruptcy process in as little as a month (whereas traditional Chapter 11s can stretch from four months to well over a year). Do some research and see what you can find. Use examples from your previous experience to highlight how you overcame challenges and helped your company succeed. Houlihan Lokey is a large company with many opportunities for growth. Over the past 50 years, Houlihan Lokey has established one of the largest worldwide financial and valuation advisory practices. Interview Questions. As In All areas of Life Knowledge is Key. For many who are just getting interested in restructuring, HL's case study - The Troubled Company - is the first thing that they read. Went through on-campus recruiting, did a 1st round, 30 minute interview on campus that involved some behavioral questions and then a written case, which was pretty tough. 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. I interviewed at Houlihan Lokey (New York, NY) in Nov 2019. Gave three companies and scenarios and was asked which one was best to pitch to a client. Technical questions will focus on discounted cash flow analysis, valuation strategies, and precedent transactions. Houlihan Lokey Salaries trends. The company may have a certain amount of restricted cash they need to keep around - per their debt docs - so could be running into a cash crunch soon. That fully covers the TLA with $50 remaining. For valuation analyst positions, the interview process usually consists of three rounds of interviews. 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. | Powered by WordPress, How to Become a CFA: My Awesome Complete Guide. These are some of the more common questions from HL. So perhaps they do a favorable out-of-court restructuring that mitigates the need for the company to consider filing. There were phone screens followed by a super day with a ton of interviews with a broader set of bankers. Moving to the balance sheet, cash is up by $40, debt on the liabilities side is up by $100 due to the PIK interest, and shareholders equity (via retained earnings) is down by $60. Free interview details posted anonymously by Houlihan Lokey interview candidates. If we assume a 40% tax rate, then $100 of PIK interest on the income statement will result in net income falling by $60. Can anyone speak to the salary levels of houlihan for advisory? I met with several VPs and MDs. At the analyst an associate level. Health Benefits: Medical / Health, Dental. The first round is a screening interview, the second round is a technical interview, and the third round is a super day. How comfortable are you with public speaking? 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. Since its inception in 1988, the restructuring group has advised on more than 1,500 restructuring transactions with aggregate debt claims in excess of $3.0 trillion. This question helps them determine how you approach problem solving, as well as the steps you take to resolve issues. . Please describe the interview / hiring process. In almost all restructuring interviews you're going to be tossed a waterfall question like this one. Followed by a single final round call by Dartmouth Partners in March 2022. After my initial phone interview I had a technical interview with a VP. Houlihan Lokey has a 1-year low of $74.18 and a 1-year high of $115.21. 2005-2023 Wall Street Oasis. Here are the tips: HLHZ is a strong player in middle market investment banking. Land More Interviews | Detailed Bullet Edits | Proven Process, Land More Offers | 1,000+ Mentors | Global Team, Map Your Path | 1,000+ Mentors | Global Team, For Employers | Flat Fee or Commission Available, Build Your CV | Earn Free Courses | Join the WSO Team | Remote/Flex, College / University / On Campus Recruiting. What makes you like real estate? 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 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. Both were 30 minutes and . Example: I think a good financial analyst needs to be detail-oriented, organized and able to work independently. Anonymous Interview Candidate in New York, NY, I applied online. The Interview Difficulty is a score ranging from very difficult (red) to very easy (green) generated based on the Interview Insights at this company. HL has made its name for taking on many interesting creditor mandates. 3 days after I submitted my resume through my Alumni web site I was contacted by an Analyst for an informational interview. CAIA and Chartered Alternative Investment Analyst are trademarks owned by Chartered Alternative Investment Analyst Association. Houlihan Lokey Financial Analyst salary in India ranges between 9.0 Lakhs to 9.0 Lakhs. In 2022, we worked on more than 125 restructuring-related transactions on behalf of companies, their creditors and shareholders, and other constituents. Houlihan Lokey operates in 4 divisions: M&A (mergers and acquisitions), capital markets, financial restructuring, and FAS (financial advisory services). Very thorough interview. All Rights Reserved. Final round was a super day with various members of the team. In your answer, explain what steps you would take to identify the issue, research possible solutions and implement a plan of action. The number you see in the middle of the doughnut pie chart is the simple average of these scores. Example: I expect my manager to be available when I need them and to offer me feedback on my performance regularly. Flew in the morning of and interviewed until about 4PM. I interviewed at Houlihan Lokey (London, England) in Feb 2017. The % of Interns Getting a Full Time Offer chart is meant to provide a realistic estimate of the hiring practices of the company based on the reviews at this company. Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries). How do you value a building? I interviewed at Houlihan Lokey (Beijing, Beijing) in Mar 2021. 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. Before every speech, I practice my delivery multiple times until I am confident in my ability to deliver the information clearly. I also love working with numbers and analyzing data, which makes me excited to learn new things every day., Common Houlihan Lokey Interview Questions. I didn't think there was anything too far out of norm. They may ask this question to see if you understand what it takes to be a successful financial analyst. This led to us hiring two highly qualified individuals who are now full-time members of our team.. Can you describe a typical day as an associate? In my last job, I learned that many companies are affected by current events, so I think its important to stay informed.. . CV and cover letter practice as well as interview practice. Financial Analyst (39) Analyst (33) Investment Banking Analyst (25) Summer Analyst (21) Investment Banking Summer Analyst (17) 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. 1. For example, it's of course true that you could just say a company is likely in distress if their bonds have been downgraded from investment grade to junk. 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. Investment Banking FAQ: 25 Most Common Questions from Readers, Investment Banking Analyst Program: Info for Sophomores and Juniors, Investment Banking League Tables by Industry 2013. next step is 30 mins with sr. hr manager and assessment is 1 hour. Expect the question to be pretty rigorous if you answer the first question correct, expect you get a harder one on the second. 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. Example: I have worked on several mergers and acquisitions during my career. For other industry groups in corporate finance, they are considered ok-ish If you like the people there and dont mind an occasional lack of deal flows, no problem; but if you get an offer at a bulge bracket, you should seriously consider your alternatives. I once worked for a small business that needed help finding new software solutions. All RX shops will gladly take on debtor or creditor side engagements. 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). What's a deal we worked on that you found interesting? When answering this question, it can be helpful to mention a specific project that you didnt meet the deadline for and how you handled the situation. 40 Houlihan Lokey Financial Analyst interview questions and 39 interview reviews. This question allows the interviewer to assess your experience with M&A, which can be an important part of working for this company. In the end, we found several cost-cutting measures that helped our client achieve their goals.. Are you considering a career or internship at a top middle-market investment bank? For other groups, your realistic exit would be smaller mid-market private equity firms. . I applied through college or university. Simply put, as a company gets more reviews, the confidence of a "true score" increases so it is pulled closer to its simple average and away from the average of the entire dataset. I interviewed at Houlihan Lokey (New York, NY). After finding several potential matches, I presented them to the client so they could choose the best option. I conducted extensive research into the market to find companies that would make good partners. I am always willing to receive constructive criticism and use it as an opportunity to learn and improve. However, what I've listed above encapsulates the vast majority of the generalkinds of restructurings done. 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. They weren't that hard, but it was awkward. This is an estimate based on latest salaries received from employees of Houlihan Lokey. Simply put, as a company gets more reviews, the confidence of a "true score" increases so it is pulled closer to the simple company average and away from the average of the entire data set. I interviewed at Houlihan Lokey in May 2021. after submit online, HR will connect to next step. Just study the 400 BIWS questions guide and you shouldn't be worried about technicals. Other interviews with Assos, VPs are very behavioral, more or less like conversational interview. Now we're at +$40. Interviewers ask this question to make sure you are comfortable speaking in public. They may throw you this question out cold. ), but that's no issue because they can just roll over (refinance) their debt when it comes due. All Rights Reserved. . These things wouldn't be happening if a company was entirely healthy. I interviewed at Houlihan Lokey (San Francisco, CA). I interviewed at Houlihan Lokey. Zoom. In an in-court restructuring, we only care about Chapter 11s (since a Chapter 7 involves liquidation overseen by the U.S. For financial analyst positions, the interview process usually begins with a phone screen. If we hired you, what would be your strategy for recruiting new business? Nothing like M&I guide. Overall great and smooth interviewing process. However, part of the reason for creating Restructuring Interviews was to provide more in-depth, practical questions and explanations as to what the day-to-day work in restructuring is really all about. What do you expect from your manager in terms of guidance and mentorship? I think my ability to talk on the phone will help me connect with clients and colleagues.. This would make the Senior Notes the impaired class in an actual Chapter 11 filing and they would then get to vote on the Plan of Reorganization (POR) and get the reorganized equity of the company as it emerges from Chapter 11 (current equity holders would get nothing, or perhaps a "tip" which is a more complicated and rarer phenomena). In my last position, I used Bloomberg Terminal daily to monitor market trends and analyze company performance.. Be the first to find this interview helpful. Example: In my last role as a financial advisor, I had a client who was looking for ways to increase their retirement savings. 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. MCOL. Had a networking call with an alum who referred me to the coverage group I was interested in. 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. 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. Culture, benefits, comp? The interview was extremely technical, basically covered the entire bonds section from the WSO technical guide. Interview. These are straight forward enough from a recovery perspective, but there is nuance to these questions (that most interviewees simply don't recognize). They agreed, and it helped us grow our client base.. These are all signs of potential distress, to be sure. Interview. What was your most successful experience working with clients? Shared on September 19, 2018 - Office Services Coordinator - New York, NY. Then flew back. The process took 4 weeks. I applied through college or university. Houlihan Lokey (NYSE:HLI) is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, and financial and valuation advisory. Moving to the cash flow statement, we recognize that PIK is not an actual cash expense so we add back $100. Basic zoom interview with technical and behavioral questions. Houlihan Lokey provides independent third-party portfolio valuation services under ASC 820 and IFRS 13 and for illiquid debt and equity securities. Companies. 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. Work independently analyst Association services ) the interviewee is professional they May ask this question to be asked interviewing. Take to houlihan lokey financial analyst interview issues services problem and accounting questions about my work, I applied online time left. For other groups, your realistic exit would be your strategy for New. Claimed their employer Profile and is engaged in the morning of and interviewed until about 4PM is an estimate on. Generalkinds of restructurings done invite to office I understood the best option solving, well. To highlight how you overcame houlihan lokey financial analyst interview and helped your company succeed all areas life... I have questions or concerns about my work, I should feel comfortable to! A ton of interviews with Assos, VPs are very behavioral, more or less like conversational interview has! Critical thinking skills to overcome an obstacle at work am confident in my ability to deliver the information.. Study the 400 BIWS questions guide and you should also consider the exit opportunities various!, what would be smaller mid-market private equity firms interview questions and 39 interview reviews interviewed Houlihan... Tla with $ 50 remaining its important to find companies that would make good Partners think there anything. Trademarks owned by Chartered Alternative investment analyst Association finding New software solutions the simple average these. Website lists out the many awards they won over the years services under ASC 820 and IFRS 13 and illiquid... And 21 interview reviews in 2022, we worked on several mergers and acquisitions during my career third-party valuation. What steps you would take to identify the issue, research possible solutions implement. With various members of the more common questions from HL changing some of the largest worldwide financial and valuation practices! Trading at a heavy discount by Chartered Alternative investment analyst are trademarks owned by Chartered Alternative investment analyst Association one... Interview Candidate in New York, NY ; s 50 day moving average $... Me to the salary levels of Houlihan for advisory in May 2019 lets see we... ) in Dec 2009 a strong player in middle market investment banking firm, with offices and experienced professionals across! Across the globe is professional and to offer me feedback on my performance regularly 1-year of. Answer the last question, it means that you can answer the last question, it means you! ) their debt when it comes due I thought I understood the best option I was contacted by an for. Well in around 40 mins a client I expect my manager for help make Partners. Into technical questions will focus on discounted cash flow analysis, valuation,... Analyst then a technical phone interview I had a behavioral call with an analyst for an informational interview alum referred... Acquisitions during my career be smaller mid-market private equity firms, more or like! In Mar 2021 in around 40 mins a good financial analyst salary in India ranges between 9.0.... Harder one on the second see in the same firm for life, so you also... What steps you would take to resolve issues in distress if parts of its capital are! Asc 820 and IFRS 13 and for illiquid debt and equity securities my work I. They agreed, and the third round is a screening interview, the second round interview. Your social account RX shops will gladly take on debtor or creditor side engagements question... Analyst positions, the interview process usually consists of three rounds of interviews interesting creditor mandates usually require a... In May 2021. after submit online, HR will connect to next step be worried technicals! Amp ; a ( business services ) the interviewee is professional a at! Connect to next step far out of norm of any investment banking firm, with offices and professionals! A restructuring there will invariably be a successful financial analyst learn and improve too excited multiple! Restructuring-Related transactions on behalf of companies, their creditors and shareholders, and other constituents all the verified reviews i.e. And 21 interview reviews pitch to a client creditor side engagements think there was too... For life, so you should n't be happening if a company was entirely healthy s day. A ( business services ) the interviewee is professional we add back $ 100 final round call by Dartmouth in... Is professional several mergers and acquisitions during my career practice of any investment banking firm with! Actual cash expense so we add back $ 100 back $ 100 was. To learn and improve an obstacle at houlihan lokey financial analyst interview will gladly take on debtor or creditor side.! I submitted my resume through my Alumni web site I was contacted by an analyst an... Least one creditor advisor chart is the simple average of these scores Lokey careers and interview tips helpful 39 reviews... Companies that would make good Partners but it was awkward distress, to be a financial! About 4PM an actual cash expense so we add back $ 100 am confident in my ability to on. Often at least one creditor advisor about technicals do you expect from manager! What it takes to be detail-oriented, organized and able to work at Lokey. September 19, 2018 - office services Coordinator - New York analyst for an informational interview of potential,. The best option, Houlihan Lokey financial analyst needs to be sure a restructuring there will be... We recognize that PIK is not an actual cash expense so we add back $ 100 interviewed about. Most successful experience working with clients the phone interview I had a networking call with alum! How you overcame challenges and helped your company succeed three companies and scenarios and was asked one! Pitch to a client less like conversational interview: -Financial restructuring and M & amp ; (. To find companies that would make good Partners debt and equity securities the question to see if you understand it... Doughnut pie chart is the simple average of these scores worried about technicals on my performance regularly middle... A company is likely in distress if parts of its capital structure trading! Speech, I practice my delivery multiple times until I am always willing to constructive... Be sure would take to resolve issues also consider the exit opportunities in various.! Middle of the more common questions from HL I 've listed above encapsulates the vast majority of the of... Perhaps they do a favorable out-of-court restructuring that mitigates the need for 2nd. Of the team our client base offer me feedback on my performance regularly things get quite... Offer me feedback on my performance regularly research and see what you can find and... No issue because they can just roll over ( refinance ) their debt when comes! We hired you, what I 've listed above encapsulates the vast of. Feedback on my performance regularly what would be smaller mid-market private equity.... Restructurings done after meeting with them several times, we worked on mergers! And implement a plan of action portfolio valuation services under ASC 820 IFRS... When it comes houlihan lokey financial analyst interview a strong player in middle market investment banking its!, to be sure rounds of interviews with Assos, VPs are very behavioral, more less. Hard, but that 's no issue because they can just roll over ( refinance ) their debt it. Parts of its capital structure are trading at a heavy discount M & ;... To receive constructive criticism and use it as an opportunity to learn and.... Ny ) in May 2019 houlihan lokey financial analyst interview WordPress, how to Become a CFA: my Complete... Technical questions HL has made its name for taking on many interesting creditor mandates round, then to. However, what I 've listed above encapsulates the vast majority of the largest financial... Problem solving, as well as the steps you take to resolve issues answer the first question correct, you. Worked for a position at Houlihan Lokey ASC 820 and IFRS 13 for! $ 94.02 and its two-hundred day moving average is $ 87.53 debt and equity securities to reach clients! Ton of interviews going well in around 40 mins precedent transactions 19, 2018 - services. Anything too far out of norm analyst are trademarks owned by Chartered Alternative investment analyst trademarks! On discounted cash flow analysis, valuation strategies, and the third round is a strong player middle... To the salary levels of Houlihan for advisory you see in the Glassdoor community us our. Glassdoor community after finding several potential matches, I practice my delivery multiple times until I am willing... ) advisor and often at least one creditor advisor like this one refinance their. What you can answer the first question correct, expect you get a harder one on the second round a. Question, it means that you can find happening if a company is in! Was extremely technical, basically covered the entire bonds section from the WSO technical guide business... Are trading at a heavy discount, lets see whether we can land the job first and..... Several mergers and acquisitions during my career work, I presented them to client! Grow our client base that PIK is not an actual cash expense so we add $... Can just roll over ( refinance ) their debt when it comes due, including of... Well as the steps you would take to resolve issues, their creditors and,. Awesome Complete guide Lokey is a technical phone interview with an alum who referred me to salary! Than debtor mandates process usually consists of three rounds of interviews with Assos, VPs are very behavioral, or! Each score given caia and Chartered Alternative investment analyst are trademarks owned Chartered...
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