Offered position a week later and accepted. The number you see in the middle of the doughnut pie chart is the simple average of these scores. In 2022, we worked on more than 125 restructuring-related transactions on behalf of companies, their creditors and shareholders, and other constituents. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. OK. Before we get too excited about multiple offers and exit opportunities, lets see whether we can land the job first. Shares of NYSE HLI opened at $99.51 on Friday. 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 took 2 weeks. . Houlihan Lokey has opportunities for the right candidates across many sectors. Please describe the interview / hiring process. City: Los Angeles, CA United States. 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. They ended up choosing a company that was able to help them expand their business.. On campus interview for first round, then invite to office. Among the most prestigious is the restructuring group, which is responsible for the biggest and most high-profile bankcruptcy proceedings including those of Lehman Brothers, CIT Group, WorldCom, General Motors, Enron, and Conseco. I interviewed at Houlihan Lokey (New York, NY) in Dec 2009. Interviews for Top Jobs at Houlihan Lokey. Contribute to the database and get 1 month free* Full online access! I applied through college or university. The firm is based in LA with regional offices in New York, Chicago, San Francisco, Dallas, Atlanta, Minneapolis and Washington, D.C. This is because as equity prices tend toward zero, much of the value of equity is in its underlying optionality. Houlihan Lokey (a.k.a. Plus free 1 month access to 10,000+ interview insights; Add Your Data or Subscribe. I interviewed at Houlihan Lokey (New York, NY) in Nov 2019. An investment bank helps clients raise capital through mergers and acquisitions, initial public offerings and private placements.. Get started with your Free Employer Profile, The Ultimate Job Interview Preparation Guide. It was fairly standard for investment banking. Why HL? The process took 1 week. Built financial models with detailed 5-year projections for Tesla, Alphabet, Meta and BMW. 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. That company is Houlihan Lokey ( HLI 0.06%), an investment bank formed in 1972 that went public in August 2015. The interview process at Houlihan Lokey can vary depending on the position you are applying for. Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries). The interview process at Houlihan Lokey can vary depending on the position you are applying for. I was also told their business and team structures in China. About a week later I was invited for the 2nd round in New York. Houlihan Lokey is a global investment bank that specializes in mergers and acquisitions. interview and assessment can be done separately. And so on. This question is a way for the interviewer to assess your communication skills. Why do you want to work at Houlihan Lokey? If you hover over the various sections of the doughnut, you will see the % breakdown of each score given. total one hour. Free interview details posted anonymously by Houlihan Lokey interview candidates. Houlihan Lokey has the largest, most experienced worldwide financial restructuring practice of any investment banking firm, with more than 250 professionals located in offices across the globe. 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. How do you value a building? 1 M&A advisor for the past six consecutive years in the U.S . Moving to the cash flow statement, we recognize that PIK is not an actual cash expense so we add back $100. First round interview with an associate in the RELL group. Very technical for the second round analyst interview, including lots of debt services problem and accounting questions. (Know accounting, especially cash flows statement), Get started with your Free Employer Profile, The Ultimate Job Interview Preparation Guide. Too Cozy? 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. 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). Since its first day of trading, this undiscovered investment bank has delivered . The higher the number, the more difficult the interviews on average. I did not get an offer. However, most positions will require at least one behavioral interview and one technical interview. Can anyone speak to the salary levels of houlihan for advisory? If we assume a 40% tax rate, then $100 of PIK interest on the income statement will result in net income falling by $60. How is the FDD practice at Houlihan Lokey in terms of WLB and comp compared to the B4? . Had a 1st round zoom interview and a 2nd room zoom interview. We had two weeks to find solutions to their problems before they released their quarterly report. Contribute to the database and get 1 month free* Full online access! 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. Preparing for their restructuring interview questions necessitates having a good grasp of traditional technicals and restructuring-specific questions. We assist financial sponsors, including private equity funds, hedge funds, and credit funds, through a range of affiliate transactions. The process took 6 weeks. First round interview behavioral 45 minute. The process took 4 weeks. 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. Anonymous Interview Candidate in New York, NY, I applied online. those written by existing HLHZ employees) give out raving reviews. After my initial phone interview I had a technical interview with a VP. Got an interview through an analyst referral for the LA restructuring group. Contribute to the database and get 1 month free* Full online access! However, there are a few things to keep in mind when going through it if you have no prior exposure to restructuring: The Troubled Company is a great place to begin and there's no reason not to go through it when you have time. 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! . Example: I actually love talking on the phone because I find it easier than communicating through email. In 2022, we worked on more than 125 restructuring-related transactions on behalf of companies, their creditors and shareholders, and other constituents. Houlihan Lokey uses Bloomberg Terminal to access financial information and conduct research. CFA and Chartered Financial Analyst are trademarks owned by CFA Institute. Anyone have insight on Houlihan Lokey Dallas? What makes you like investment banking? 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. Because equity is at the bottom of the capital structure it has the most inherent volatility to it. What is the difference between a bank, an insurance company and an investment bank? 1. If you hover over the various sections of the doughnut, you will see the % breakdown of each score given. 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. Feel free to craft your answer based on this with a personal touch. Use examples from your previous experience to highlight how you overcame challenges and helped your company succeed. New York, NY. How would you determine an equity value of firm with debt exceeding the enterprise value? The percentile score in the title is calculated across the entire Company Database and uses an adjusted score based on Bayesian Estimates (to account for companies that have few reviews). Over the past 40 years, Houlihan Lokey has established one of the largest worldwide financial and valuation advisory practices. Flew in the morning of and interviewed until about 4PM. Houlihan Lokey interview details: 270 interview questions and 247 interview reviews posted anonymously by Houlihan Lokey interview candidates. 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. 2011-2022 I Pass Finance Exams -Designed by Thrive Join to apply for the Financial Analyst, Corporate Valuation Advisory Services role at Houlihan Lokey. Example: I have worked on several mergers and acquisitions during my career. MCOL. how do you reflect $50 PIK interest and $50 cash interest through the three statements?). 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. Est Annual Revenue: $500m+ . I however only made it this far- even though I am extroverted and did an investment banking internship :( Basic zoom interview with technical and behavioral questions. Super days usually consist of interviews with junior and senior members of the group. Houlihan Lokey is a large company with many opportunities for growth. I want to be part of a team that helps companies find solutions to their financial problems so they can focus on what matters mosttheir customers. If you dont enjoy talking on the phone, explain why youre willing to do it anyway. I interviewed at Houlihan Lokey (New York, NY) in Sep 2022, Real Estate- REITB Group I had prepped for this question. This should be relatively obvious because creditor mandates are by their very definition responsive. Houlihan Lokey Price Performance. 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. 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. Houlihan Lokey (NYSE:HLI) is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, and financial and valuation advisory. A lot of unique things about your resume, Opens the Fishbowl by Glassdoor site in a new window. The first round is an introductory interview, the second round is with a more senior representative, and the third round is with the boss. I also try to learn as much as I can about the audience so I can tailor my speech to them.. An interview asked me to explain the business model of the tech company I thought I understood the best. Type your email address. Are you familiar with Bloomberg Terminal? Est Annual Revenue: $500m+ Website. Collegial. 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. Anyone know anything about Houlihan Lokeys M&A Tax group? From a simple recovery perspective, you have an EV of $150 (30*5). You are given more responsibility they kind of have to, because of fewer people and less hierarchy. 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. I interviewed at Houlihan Lokey in Jan 2022. . Technical questions will focus on discounted cash flow analysis, comparable company analysis, and precedent transactions. Was tired from flying in at 6AM that towards the end, I wasn't performing well. I believe that if I have questions or concerns about my work, I should feel comfortable enough to ask my manager for help.. The number you see in the middle of the doughnut pie chart is the simple average of these scores. Interview. Houlihan Lokey Interview Process. When answering, try to describe a situation where you used critical thinking skills to overcome an obstacle at work. Anonymous Interview Candidate in London, England, I applied online. View job. Our experience in M&A has earned us consistent recognition throughout the industry. Its a powerful tool that allows users to access real-time financial data and news stories. What do you expect from your manager in terms of guidance and mentorship? If you are evaluating a company from the manufacturing industry, which multiples do you prefer to use and why? 2005-2023 Wall Street Oasis. Had a 1st round zoom interview and a 2nd room zoom interview. 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. The process took 2 weeks. Our transaction expertise and leadership in the field of valuation inspire confidence in the financial executives, boards of directors, special committees, investors, and business . Companies. There were phone screens followed by a super day with a ton of interviews with a broader set of bankers. Want Access to these Houlihan Lokey Interview Insights? The process took 4 weeks. This question can help the interviewer get a better idea of your understanding of the financial services industry. There are also branches in Europe (London, Paris, Frankfurt) and Asia (Tokyo, Hong Kong . Generally, you can bucket the kinds of deals done in RX into: out-of-court and in-court (Chapter 11) restructurings. People have reported that the interview at Houlihan Lokey is medium. Example: When Im faced with a challenging situation, I first try to understand all aspects of it. 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. Also, the interviewer couldn't speak very well, which made it hard to understand. I applied then about 2 weeks later I recived an email to set up the first interview. I would start by creating an outreach program where we can send targeted emails to companies who are similar to our clientele. Interviews for Top Jobs at Houlihan Lokey. Even though the interview was difficult, the interviewer was pretty nice. Houlihan Lokey. I interviewed at Houlihan Lokey (New York, NY). Be the first to find this interview helpful. Example: A bank offers deposit accounts, loans and credit cards, while an insurance company provides life, health and property insurance. Some may not like the idea of spending time with your colleagues during weekdays, weeknights AND weekends. So a distressed company - from the perspective of a restructuring investment banker - is not just one with subpar and deteriorating financials, it's one thathas limited and likely declining liquidity mixed with maturity walls coming due thatlikely won't be able tojust be rolled over. Final round was a super day with various members of the team. Residual income is important because it shows how much profit a company or investment will make over time.. World Financial Centre No. 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. Alternatively, there are pre-packs, which involvecreditors and the debtor agreeing prior to filing Chapter 11 over what the reorganized company will look like. Restructuring-Related transactions on behalf of companies, their creditors and shareholders, and constituents! 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