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). Rotational Program: -Financial Restructuring and M&A (Business Services) What this particular way ofanswering this question does is show you implicitly understand the "Why?" There are 3 interview rounds for an Analyst positions, 1st screening with some basic questions about your experience and knowledge of the industry, 2nd technical (simple finance related questions regarding LBO/valuation, SaaS metrics) and motivation/behaviour, 3rd is one hour interview with two MDs. Hiring managers want to know that you have the skills and knowledge necessary to succeed in their company. Contribute to the database and get 1 month free* Full online access! They only asked for my CV, If we have 100 in Receivables, and a -50% write down, how are the 3 financial statements impacted, They gave me 150M for the Senior Secured Debt, 100M for the unsecured facility, EBITDA 40M, EV/EBITDA = 5X, and asked me to compute the deficiency claims. Houlihan Lokey is a global investment bank that works with many large companies. Shares of NYSE HLI opened at $99.51 on Friday. In other words, be well prepared! Financial Analyst (39) Analyst (33) Investment Banking Analyst (26) Summer Analyst (21) Investment Banking Summer Analyst (17) It's not as hard as expected. I did not get an offer. Interviews for Top Jobs at Houlihan Lokey. Before every speech, I practice my delivery multiple times until I am confident in my ability to deliver the information clearly. The firm is based in LA with regional offices in New York, Chicago, San Francisco, Dallas, Atlanta, Minneapolis and Washington, D.C. Houlihan Lokey has the largest worldwide financial restructuring practice of any investment banking firm, with offices and experienced professionals located across the globe. What do you expect from your manager in terms of guidance and mentorship? Get 27 financial modeling templates in swipe file. Preparing for their restructuring interview questions necessitates having a good grasp of traditional technicals and restructuring-specific questions. Nothing out of the ordinary. Very thorough interview. It was a 30 min phone call (1st) and super day was 2 weeks after on-site. 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. The process took 2 weeks. I interviewed at Houlihan Lokey (New York, NY) in Nov 2019. The process took 2 weeks. Themes Final round was a super day with various members of the team. Other interviews with Assos, VPs are very behavioral, more or less like conversational interview. 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. 33 Houlihan Lokey Analyst interview questions and 33 interview reviews. If you look at the Vault report, all the verified reviews (i.e. Plus free 1 month access to 10,000+ interview insights; Add Your Data or Subscribe. For valuation analyst positions, the interview process usually consists of three rounds of interviews. Create Comparison. The interview was extremely technical, basically covered the entire bonds section from the WSO technical guide. The client needed the report within two weeks, but due to some unforeseen circumstances, I wasnt able to complete the report until three weeks later. I applied online, reached out to some alumni from my school on LinkedIn and had phone calls or coffee chats with them. After my initial phone interview I had a technical interview with a VP. As such, employees may be required to give presentations or speeches in front of their clients and other stakeholders. Just study the 400 BIWS questions guide and you shouldn't be worried about technicals. Prepare for the types of questions you are likely to be asked when interviewing for a position at Houlihan Lokey. 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. 1 . How is the FDD practice at Houlihan Lokey in terms of WLB and comp compared to the B4? Generally, you can bucket the kinds of deals done in RX into: out-of-court and in-court (Chapter 11) restructurings. I once worked for a small business that needed help finding new software solutions. Anonymous Interview Candidate in London, England, I applied online. More Responsibility. Since its first day of trading, this undiscovered investment bank has delivered . City: Los Angeles, CA United States. I met with several VPs and MDs. Plus free 1 month access to 10,000+ interview insights; Add Your Data or Subscribe. Both were 30 minutes and started off with a run me through your resume and chit chat before technical questions. Interview. 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). The process took 3 weeks. HL is known for taking a higher proportion of creditor-side mandates than other Tier 1 restructuring firms (PJT, Evercore, Moelis, and Lazard). I did not get end up getting the offer, but it was an enjoyable experience. Then, I break down the problem into smaller pieces so that I can analyze each part individually. Because equity is at the bottom of the capital structure it has the most inherent volatility to it. In your answer, try to explain what makes a good financial analyst and how your experience aligns with those qualities. 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. In an in-court restructuring, we only care about Chapter 11s (since a Chapter 7 involves liquidation overseen by the U.S. After my initial phone interview I had a technical interview with a VP. I was also told their business and team structures in China. I however only made it this far- even though I am extroverted and did an investment banking internship :( 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. Are you familiar with Bloomberg Terminal? 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). 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. Like anything though, the devil is in the details. 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. Sign In. This question can help interviewers understand your ability to prioritize and manage your time. At the analyst an associate level. Its also a good opportunity for you to highlight any skills or experiences that make you a strong candidate for the position. Contribute to the database and get 1 month free* Full online access! Had a 1st round zoom interview and a 2nd room zoom interview. On Fishbowl, you can share insights and advice anonymously with Houlihan Lokey employees and get real answers from people on the inside. I interviewed at Houlihan Lokey (London, England) in Feb 2017. 2011-2022 I Pass Finance Exams -Designed by Thrive I applied through an employee referral. I applied online. I applied through college or university. Make sure review accounting related knowledge. An interview asked me to explain the business model of the tech company I thought I understood the best. While there are some common interview questions that you should be prepared to answer, such as Tell me about yourself and Why are you interested in this position?, youll also want to be ready for some company-specific questions. When answering this question, it can be helpful to define residual income and explain how its used in the business world. Feel free to craft your answer based on this with a personal touch. Example: I expect my manager to be available when I need them and to offer me feedback on my performance regularly. Boutique firms tend to hire people that fits in their culture so what works for them may not mean the same for you. 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. Our firms culture is very collegial, supportive, and fun. Houlihan Lokey has a 1-year low of $74.18 and a 1-year high of $115.21. 3. It was fairly standard for investment banking. How do you value a building? 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. What's a deal we worked on that you found interesting? . 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. Then flew back. I applied through college or university. 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. Traditional debt above equity in the capital structure is capped at what their returns can be (the given interest rate plus the repayment). Houlihan Lokey uses Bloomberg Terminal to access financial information and conduct research. 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. Trick question. OK. Before we get too excited about multiple offers and exit opportunities, lets see whether we can land the job first. Even trying to provide a little bit of nuance in this answer has been difficult. 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). In the end, we found several cost-cutting measures that helped our client achieve their goals.. 2005-2023 Wall Street Oasis. That company is Houlihan Lokey ( HLI 0.06%), an investment bank formed in 1972 that went public in August 2015. I interviewed at Houlihan Lokey. 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. Houlihan Lokey (NYSE:HLI) is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, and financial and valuation advisory. 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 question is a great way to test your knowledge of financial terms and concepts. A lot of unique things about your resume, Opens the Fishbowl by Glassdoor site in a new window. 2. Common Multiples used. Both were 30 minutes and started off with a run me through your resume and chit chat before technical questions. Why do you want to work at Houlihan Lokey? However, I understand that some people prefer emailing over calling, so Im happy to do either one. Tell me about a time when you had to work under pressure. 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