or Want to Sign up with your social account? 1 M&A advisor for the past six consecutive years in the U.S . We could also create a referral program where employees get discounts on products and services when they refer someone who becomes a customer.. Technical questions will focus on discounted cash flow analysis, comparable company analysis, and precedent transactions. . Status: Intern. Preparing for their restructuring interview questions necessitates having a good grasp of traditional technicals and restructuring-specific questions. And the third. Houlihan Lokey provides independent third-party portfolio valuation services under ASC 820 and IFRS 13 and for illiquid debt and equity securities. At the analyst an associate level. For many who are just getting interested in restructuring, HL's case study - The Troubled Company - is the first thing that they read. The firm serves corporations, institutions, and governments worldwide with offices in the United States, Europe, the Middle East, and the Asia-Pacific region. 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. Phone interview. 23 Houlihan Lokey Summer Analyst interview questions and 21 interview reviews. 2. How comfortable are you with public speaking? I also enjoy working alone because it allows me to focus on my work without distractions.. In a restructuring there will invariably be a debtor (company) advisor and often at least one creditor advisor. Even though the interview was difficult, the interviewer was pretty nice. Example: When I was working as a financial analyst at my previous company, we were tasked with finding ways to reduce costs for our clients business. First round interview was mostly competency based with a few technicals. Dont overdo it though youll need to add in your personal story so you wont sound like the Houlihan Lokey marketing material. I had prepped for this question. 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. The process took 2 weeks. For valuation analyst positions, the interview process usually consists of three rounds of interviews. Of course, in a traditional interview process you're going to get dozens of questions thrown your way. 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. Interviews for Top Jobs at Houlihan Lokey. One phone interview with Associate before Super Day. This question can help the interviewer get a better idea of your understanding of the financial services industry. Example: I have always been nervous about public speaking, but Ive learned some techniques to help me get through my presentation without panicking. 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). 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. Sometimes they'll be asked in conjunction with traditional cash interest questions (e.g. Then had a superday with 5 separate interviews ranging from Associate to MD, An interview asked me to explain the business model of the tech company I thought I understood the best. What are some challenges facing financial services companies today? Interview Questions. I conducted extensive research into the market to find companies that would make good partners. 3 days after I submitted my resume through my Alumni web site I was contacted by an Analyst for an informational interview. You are given more responsibility they kind of have to, because of fewer people and less hierarchy. As regulators and investors increase scrutiny of private . The number you see in the middle of the doughnut pie chart is the simple average of these scores. I know that I could contribute to the team by using my analytical skills and attention to detail.. Can anyone speak to the salary levels of houlihan for advisory? Questions will focus on your background and experience. 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. They may throw you this question out cold. 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. Culture, benefits, comp? The process took 1 week. 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. People have rated the overall interview experience as . I was told that candidates interviewed for the corporate finance group in LA had to take a written test. What three words would people use to describe you, Get started with your Free Employer Profile, The Ultimate Job Interview Preparation Guide. HLHZ arguably has the best restructuring group out there and they are proud of it. The firm serves corporations, institutions, and . For many who are just getting interested in restructuring, HL's case study - The Troubled Company - is the first thing that they read. Houlihan Lokey interview details: 270 interview questions and 247 interview reviews posted anonymously by Houlihan Lokey interview candidates. 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). Moving to the cash flow statement, we recognize that PIK is not an actual cash expense so we add back $100. 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. Can anyone speak to the salary levels of houlihan for advisory? It's not as hard as expected. This question helps them determine how you approach problem solving, as well as the steps you take to resolve issues. Preparing for their restructuring interview questions necessitates having a good grasp of traditional technicals and restructuring-specific questions. Now we're at +$40. This is because the property will generate $900 each month after the initial purchase. Meeting with recruiter followed by a 30 minute meeting with a director. Several technical rounds via phone with Associate level personnel, written exam testing knowledge of financial equations, three-statement analysis and several open ended case-study style questions, in person round with 5-6 officers. Then had a superday with 5 separate interviews ranging from Associate to MD, 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. If you ask me, I would think the safest answer should be something around their renowned restructuring practice. On campus interview for first round, then invite to office. It was mostly standard stuff. The hiring process at Houlihan Lokey takes an average of 21 days when considering 225 user submitted interviews across all job titles. Shares of NYSE HLI opened at $99.51 on Friday. 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. Houlihan Lokey Interview Process. In 2022, we worked on more than 125 restructuring-related transactions on behalf of companies, their creditors and shareholders, and other constituents. Anonymous Interview Candidate in New York, NY, I applied online. They ended up choosing a company that was able to help them expand their business.. 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. The debtor has to come up with plans for how it wants to restructure - whether that is deciding between doing something out-of-court or in-court or developing a Plan of Reorganization if the company has already filed - while creditors just need to take the proposal given and decide how they want to negotiate with it (or if they want to make an entirely new counterproposal). 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. 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. Sign In. Example: A bank offers deposit accounts, loans and credit cards, while an insurance company provides life, health and property insurance. Anyone have insight on Houlihan Lokey Dallas? First round interview on the next day, phone interview about 15 - 20 minuts on behaviral and technical questions. 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). Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. I didn't think there was anything too far out of norm. Interview process was around five weeks. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Had a networking call with an alum who referred me to the coverage group I was interested in. Of course, I should make clear that part of the reason why certain tranches of debt are trading low in the first place could be because maturity walls are coming up, the coming has limited liquidity, and the market is pricing in the need for there to be some kind of restructuring in the future. 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. Explore more on salary insights by experience and location. Very technical for the second round analyst interview, including lots of debt services problem and accounting questions. The interviewee is professional. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial . Like anything though, the devil is in the details. Choosing a selection results in a full page refresh. Interview Questions. Press the space key then arrow keys to make a selection. 1 M&A advisor for the past five consecutive years in the U.S., the No . 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. Throughout my career, Ive developed strong time management and organizational skills. Houlihan Lokey may ask this question to learn more about your experience working with vendors and suppliers. Interviewers ask this question to make sure you are comfortable speaking in public. Find out more. I met with several VPs and MDs. Other interviews with Assos, VPs are very behavioral, more or less like conversational interview. I find it interesting to see whats going on in the world and how it might affect our economy. MDs were on phone the whole time and left early. 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. 33 Houlihan Lokey Analyst interview questions and 33 interview reviews. Houlihan Lokey is a global investment bank that specializes in mergers and acquisitions. However, I understand that some people prefer emailing over calling, so Im happy to do either one. Financial Analyst (39) Analyst (33) Investment Banking Analyst (25) Summer Analyst (21) Investment Banking Summer Analyst (17) Houlihan Lokey; Interviews; Summer Analyst; Houlihan Lokey. Had a 1st round zoom interview and a 2nd room zoom interview. What makes you like investment banking? 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. Be the first to find this interview helpful. CAIA and Chartered Alternative Investment Analyst are trademarks owned by Chartered Alternative Investment Analyst Association. In my last job, I learned that many companies are affected by current events, so I think its important to stay informed.. Comparison between these multiples. 2005-2023 Wall Street Oasis. All RX shops will gladly take on debtor or creditor side engagements. 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. In your answer, explain how you feel about public speaking and what steps you take to prepare for it. The number you see in the middle of the doughnut pie chart is the simple average of these scores. I applied through a recruiter. They also want to see if your ideas align with their own, so be sure to mention any strategies theyve mentioned in previous interviews or conversations. Both were 30 minutes and started off with a run me through your resume and chit chat before technical questions. It was a 30 min phone call (1st) and super day was 2 weeks after on-site. If firm A and B has same revenue, same location, same product, why would firm A pay $5M tax and B pay $0? This call option reflects the fact that maybe the company suddenly has a surge in sales, a new product development that everyone loves, or the CEO finds $200 in a backroom that no one has accounted for. I applied to their TMT group through university career center. The process took 2 weeks. Standard banking process, fairly technical but definitely looking for fit most beyond the standard banking capabilities. The firm is known to ask very technical questions, which reflect the firms technical, no-nonsense culture. Contribute to the database and get 1 month free* Full online access! The firm also heavily promotes an environment of no social borders between its junior staff and senior officers, to ensure every level of staff has exposure to senior officers in the firm. We assist financial sponsors, including private equity funds, hedge funds, and credit funds, through a range of affiliate transactions. I interviewed at Houlihan Lokey (London, England) in Feb 2017. These things wouldn't be happening if a company was entirely healthy. Houlihan and Lokey left the firm many years ago and the firm is now headed by co-CEOs Scott Beiser and Jeffrey Werbalowsky. However, what I've listed above encapsulates the vast majority of the generalkinds of restructurings done. For example, if we look at Legacy Reserves we'll see PJT advising GSO (Blackstone) while HL is advising an ad hoc group of of Senior Noteholders. When it comes to interviews, preparation is key. 2023 Summer Financial Analyst . Houlihan Lokey (a.k.a. This reason primarily boils down to two things: A lack of liquidity will signal that the company may have trouble just coming up with interest expense for the debt currently in the capital structure. 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. Often it'll be the case that if a RX shop doesn't win the debtor mandate, then they'll see if they can get a creditor-side mandate. Other interviews with Assos, VPs are very behavioral, more or less like conversational interview. 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 . Expect the question to be pretty rigorous if you answer the first question correct, expect you get a harder one on the second. 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We worked on more than 125 restructuring-related transactions on behalf of companies, their creditors shareholders... Are some challenges facing financial services industry Want to Sign up with your Free Employer Profile the. Interview candidates having a good grasp of traditional technicals and restructuring-specific questions was,. First question correct, expect you get a better idea of your understanding of the doughnut pie chart is simple! Add back $ 100 either one `` Glassdoor '' and logo are trademarks. Known to ask very technical for the second round Analyst interview, lots... Equity pros and bulge bracket investment bankers including financial the firms technical, no-nonsense culture second Analyst. Approach problem solving, as well as the houlihan lokey financial analyst interview you take to prepare for.... Process usually consists of three rounds of interviews informational interview kind of have to, because of fewer people less... 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