I once worked for a small business that needed help finding new software solutions. The firm serves corporations, institutions, and . . Interview process was around five weeks. 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. Gave three companies and scenarios and was asked which one was best to pitch to a client. From a simple recovery perspective, you have an EV of $150 (30*5). MCOL. Why do you want to work at Houlihan Lokey? I know that I could contribute to the team by using my analytical skills and attention to detail.. Was mainly behavioural/fit with very few technical questions which took me by surprise, Tell me about a time where you were put under a lot of stress, College / University / On Campus Recruiting. I . 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. 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. I hope this little overview has been helpful. Other interviews with Assos, VPs are very behavioral, more or less like conversational interview. This is followed by a super day where candidates will meet with a variety of bankers. Describe a situation where you overcame a challenging obstacle at work. This should be relatively obvious because creditor mandates are by their very definition responsive. Press the space key then arrow keys to make a selection. After meeting with them several times, we determined that they could save money by changing some of their investment options. 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. 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 interview insights). Type your email address. Example: I have worked on several mergers and acquisitions during my career. 2. Example: I think its important to find ways to reach new clients while maintaining relationships with existing ones. This question is an opportunity to show the interviewer that you are motivated by more than just money. 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. Had a 1st round zoom interview and a 2nd room zoom interview. 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. I interviewed at Houlihan Lokey (New York, NY) in Nov 2019. There are also branches in Europe (London, Paris, Frankfurt) and Asia (Tokyo, Hong Kong, Beijing). I enjoyed the process, however, I did not get the offer. What do you expect from your manager in terms of guidance and mentorship? 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. What is the difference between a bank, an insurance company and an investment bank? How do you value a building? Why do you want to work at Houlihan Lokey? This question helps them determine how you approach problem solving, as well as the steps you take to resolve issues. The stock has a market capitalization of $6.83 billion, a P/E ratio of 26.40 and a beta of 0.78. In this Houlihan Lokey One-on-One interview, Managing Director . In 2022, we worked on more than 125 restructuring-related transactions on behalf of companies, their creditors and shareholders, and other constituents. 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). Houlihan Lokey interview details: 270 interview questions and 247 interview reviews posted anonymously by Houlihan Lokey interview candidates. 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). Are you familiar with Bloomberg Terminal? Offered position a week later and accepted. 18 days ago. Are you considering a career or internship at a top middle-market investment bank? Houlihan Lokey is pleased to present its Financial Information, Data & Analytics Market Updates. I received a recruiter call and didnt even realize they had their own M&A Tax group. 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 has a 1-year low of $74.18 and a 1-year high of $115.21. This question is an opportunity to show your enthusiasm for the company and its values. HLHZ arguably has the best restructuring group out there and they are proud of it. 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. Had a 1st round zoom interview and a 2nd room zoom interview. After my initial phone interview I had a technical interview with a VP. Average Houlihan Lokey Investment Banking Associate salary in India is 20 Lakhs per year based on 1 salary. Our firms culture is very collegial, supportive, and fun. It was fairly standard for investment banking. If you look at the Vault report, all the verified reviews (i.e. Free interview details posted anonymously by Houlihan Lokey interview candidates. 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. Example: In my last role as a financial advisor, I had a client who was looking for ways to increase their retirement savings. Due to the unpredictable workload and big responsibility. I applied then about 2 weeks later I recived an email to set up the first interview. Houlihan Lokey has the largest summer and full-time analyst class of any restructuring investment bank. You can also use this as a chance to demonstrate that you have done some research about the organization. If you aspire to be a career banker, the best thing you can do to yourself is to get very well prepared for the interview, especially on the technical part which HLHZ is focusing on. This is because the property will generate $900 each month after the initial purchase. Houlihan Lokey Financial Analyst salary in India ranges between 9.0 Lakhs to 9.0 Lakhs. 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. For many who are just getting interested in restructuring, HL's case study - The Troubled Company - is the first thing that they read. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Opens the Fishbowl by Glassdoor site in a new window, Get started with your Free Employer Profile, Financial Restructuring Analyst Interview, The Ultimate Job Interview Preparation Guide. There are also branches in Europe (London, Paris, Frankfurt) and Asia (Tokyo, Hong Kong . When answering this question, it can be helpful to define residual income and explain how its used in the business world. People have reported that the interview at Houlihan Lokey is medium. 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. 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 interview process is standard, received first round invite through email. First round interview was mostly competency based with a few technicals. 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! Anyone know anything about Houlihan Lokeys M&A Tax group? Then flew back. 23 Houlihan Lokey Summer Analyst interview questions and 21 interview reviews. I applied through an employee referral. Or you could say that a company is likely in distress if parts of its capital structure are trading at a heavy discount. It was overall a straightforward interview but the experience was different than I had anticipated. First round went well and they emailed me a day later to schedule my flight. Free interview details posted anonymously by Houlihan Lokey interview candidates. You can use this question as a chance to demonstrate your passion for finance and business, or even your desire to help others succeed. Be assertive. . Nothing much to say. And the third. However, I understand that some people prefer emailing over calling, so Im happy to do either one. Houlihan Lokey is the No. Common Multiples used. Whenever you go into any interview, you should have a few recent deals of theirs to talk about. 2005-2023 Wall Street Oasis. I called the client immediately after realizing I wouldnt be able to make the original deadline and explained the situation. This question can help interviewers understand your ability to prioritize and manage your time. 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. Flew in the morning of and interviewed until about 4PM. The process took 2 weeks. Share Interview Advice. Sometimes they'll be asked in conjunction with traditional cash interest questions (e.g. Throughout the day, Id be on the phone with clients and colleagues, collaborating with other associates and learning new things.. Then flew back. What multiple would you use to evaluate these two companies and why? This employer has claimed their Employer Profile and is engaged in the Glassdoor community. Plus free 1 month access to 10,000+ interview insights; Add Your Data or Subscribe. 2023 Summer Financial Analyst . What makes you like real estate? The phone interview starts with a personal question and directly jumps into technical questions. They ended up saving thousands of dollars per year, which allowed them to retire early.. Status: Intern. Houlihan Lokey provides independent third-party portfolio valuation services under ASC 820 and IFRS 13 and for illiquid debt and equity securities. Just study the 400 BIWS questions guide and you shouldn't be worried about technicals. Want Access to these Houlihan Lokey Interview Insights? When it comes to interviews, preparation is key. Alternatively, there are pre-packs, which involvecreditors and the debtor agreeing prior to filing Chapter 11 over what the reorganized company will look like. Anonymous Interview Candidate in New York, NY, I applied online. Interview Questions. Generally, you can bucket the kinds of deals done in RX into: out-of-court and in-court (Chapter 11) restructurings. Est Annual Revenue: $500m+ . The interview went pretty well, I got invited to Dallas for a Super Day which was relaxed but a little unorganized. Anyone have insight on Houlihan Lokey Dallas? Shared on September 19, 2018 - Office Services Coordinator - New York, NY. Can anyone provide insight into working for Alvarez & Marsal PEPI (Interim CFO or Managed Services) or Houlihan Lokey's AAS practice (e.g. The team and I worked hard to find solutions to help our client save money without sacrificing quality or efficiency. Would encourage people to apply most definitely. Very technical for the second round analyst interview, including lots of debt services problem and accounting questions. . So the most natural question from the interviewer would be: Why middle market? I would start by creating an outreach program where we can send targeted emails to companies who are similar to our clientele. Anyone know anything about Houlihan Lokeys M&A Tax group? . Please describe the interview / hiring process. Houlihan Lokey; Interviews; Summer Analyst; Houlihan Lokey. The interviewee is professional. 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. 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. . Nova York, Estados Unidos. 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. The firm has monthly happy hours and quarterly events, such as golf outings and parties to reward its employees for all their contributions. 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. So as equity trades closer to zero, the value of equity begins to look much more like a call option. I applied to their TMT group through university career center. Be the first to find this interview helpful. self introduction, why this company, why restructuring, past experience, major types of restructuring, past deals of Houlihan Lokey, need to be very familiar with restructuring process, questions for interviewer, thank you, I applied online. Had a networking call with an alum who referred me to the coverage group I was interested in. Student Intern Amplify Trading Jul 2021 - Jul . Rotational Program: -Financial Restructuring and M&A (Business Services) I did not get end up getting the offer, but it was an enjoyable experience. Anyone know anything about Houlihan Lokeys M&A Tax group? In 2022, we worked on more than 125 restructuring-related transactions on behalf of companies, their creditors and shareholders, and other constituents. It's important to understand that in many restructuring scenarios out-of-court, PIK will often end up being utilized. Very technical for the second round analyst interview, including lots of debt services problem and accounting questions. 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. This question allows the interviewer to assess your experience with M&A, which can be an important part of working for this company. All RX shops will gladly take on debtor or creditor side engagements. They agreed, and it helped us grow our client base.. Houlihan Lokey; Interviews; Financial Analyst; Houlihan Lokey. at. Join to apply for the Financial Analyst, Corporate Valuation Advisory Services role at Houlihan Lokey. 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 believe that if I have questions or concerns about my work, I should feel comfortable enough to ask my manager for help.. Ev of $ 74.18 and a 2nd room zoom interview and a 2nd room zoom interview and 2nd... Went well and they houlihan lokey financial analyst interview proud of it interviews ; Summer Analyst ; Houlihan Lokey so as equity closer... We worked on more than just money Data & amp ; Analytics market.! Problem solving, as well as the steps you take to resolve issues targeted emails companies. 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