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. However, most positions will require at least one behavioral interview and one technical interview. They want to know if you can effectively communicate with clients and other employees, so its important that you answer honestly. They may ask this question to see if you understand what it takes to be a successful financial analyst. Just study the 400 BIWS questions guide and you shouldn't be worried about technicals. Interview process was around five weeks. Technical First round. And the third. I received a recruiter call and didnt even realize they had their own M&A Tax group. Example: I am passionate about helping businesses grow and thrive. Houlihan Lokey (a.k.a. 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. . The Interview Experience is a score from 1 star (very negative) to 5 stars (very positive) generated based on the Interview Insights at this company. Throughout my career, Ive developed strong time management and organizational skills. MCOL. 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. 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. What three words would people use to describe you, Get started with your Free Employer Profile, The Ultimate Job Interview Preparation Guide. Houlihan Lokey has the largest worldwide financial restructuring practice of any investment banking firm, with offices and experienced professionals located across the globe. Announced or completed transactions. I received a recruiter call and didnt even realize they had their own M&A Tax group. They agreed, and it helped us grow our client base.. First round interview with an associate in the RELL group. In my last position, I used Bloomberg Terminal daily to monitor market trends and analyze company performance.. 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). Please describe the interview / hiring process. Can anyone provide insight into working for Alvarez & Marsal PEPI (Interim CFO or Managed Services) or Houlihan Lokey's AAS practice (e.g. I also love working with numbers and analyzing data, which makes me excited to learn new things every day., Common Houlihan Lokey Interview Questions. Anonymous Interview Candidate in London, England, I applied online. First round went well and they emailed me a day later to schedule my flight. Now we're at +$40. However, if you explain what the impetus for restructuring investment bankers getting involved in a particular situation is, that makes your answer really stand out because it shows your practical understanding of restructuring. Incoming Investment Banking summer Analyst at Houlihan Lokey | Co-head of M&A at the Queen Mary Banking and Finance Society . Currently work in Big 4 as a director in TAS. Had a follow-on interview where I had to give a presentation on a recent M&A deal. Rotational Program: -Financial Restructuring and M&A (Business Services) 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). I met with several VPs and MDs. 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). Basic zoom interview with technical and behavioral questions. On campus interview for first round, then invite to office. If there's not a whole docket to go through, it makes it much harder for you to be asked tricky follow up questions. 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. First round interview on the next day, phone interview about 15 - 20 minuts on behaviral and technical questions. Nearly every restructuring is slightly different and things get complicated quite fast. Both calls lasted 30min. Interview Questions. First had a phone screening interview, followed by in-person interviews with four people ranging in titles from associate to managing director. 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 is a global investment bank, so the interviewer may ask you this question to see if you understand the differences between their business and other financial institutions. The final round of interviews is typically with the managing director. This question can help interviewers learn more about your interests and how you spend your free time. If not, I will reach out to colleagues or other professionals to get their input on the matter.. View job. I am always willing to receive constructive criticism and use it as an opportunity to learn and improve. Simples and very personality based. They may throw you this question out cold. Example: "I think a good financial analyst needs to be detail-oriented, organized and able to work . 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. Also, the interviewer couldn't speak very well, which made it hard to understand. Investment Banking. Moving to the cash flow statement, we recognize that PIK is not an actual cash expense so we add back $100. Contribute to the database and get 1 month free* Full online access! Your bosses and colleagues do care, which is typical in a smaller bank. 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. Why do you want to work at Houlihan Lokey? For business operations analyst positions, there are usually three rounds of interviews. Anyone have insight on Houlihan Lokey Dallas? Investment Banking. Get 27 financial modeling templates in swipe file. Health Benefits: Medical / Health, Dental. 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. This question can help interviewers understand your ability to prioritize and manage your time. Its also a good opportunity for you to highlight any skills or experiences that make you a strong candidate for the position. 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. 23 Houlihan Lokey Summer Analyst interview questions and 21 interview reviews. I interviewed at Houlihan Lokey (New York, NY) in Sep 2022, Real Estate- REITB Group 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). It's important to understand that in many restructuring scenarios out-of-court, PIK will often end up being utilized. This question helps them determine how you approach problem solving, as well as the steps you take to resolve issues. I interviewed at Houlihan Lokey (New York, NY) in Sep 2022. 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. Quantitative Strategist (Vice President). Go through the resume first, and then some technical questions as well as behavioral questions. Free interview details posted anonymously by Houlihan Lokey interview candidates. Small firms tend not to over-staff, so if the boss gets a few big deals, everyone needs to work REAL hard. Give us an example of how you solved a difficult issue in the past. Average Houlihan Lokey Investment Banking Associate salary in India is 20 Lakhs per year based on 1 salary. The second round was 2 hours of zoom interviews starting with MD working down to analysts. That company is Houlihan Lokey ( HLI 0.06%), an investment bank formed in 1972 that went public in August 2015. 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. The process is going well in around 40 mins. I also enjoy working alone because it allows me to focus on my work without distractions.. Questions will focus on your background and experience. Your answer to this question should show that you are looking for guidance and mentorship from your manager, but also how you can provide it to others in the workplace. For financial analyst positions, the interview process usually begins with a phone screen. In almost all restructuring interviews you're going to be tossed a waterfall question like this one. Industry and behavioral focused. Sign In. They may also want to know if you have any special skills or hobbies that could be beneficial for the company. In my last job, I learned that many companies are affected by current events, so I think its important to stay informed.. However, most positions will require at least one behavioral interview and one technical interview. Had a 1st round zoom interview and a 2nd room zoom interview. I had prepped for this question. At the analyst an associate level. I interviewed at Houlihan Lokey (New York, NY) in Nov 2019. Be the first to find this interview helpful. The process took 1 week. As such, employees may be required to give presentations or speeches in front of their clients and other stakeholders. Sample Answer. Example: I have worked on several mergers and acquisitions during my career. Common Multiples used. Jun 2022 - Aug 20223 months. I applied online. Example: At my previous job, I was tasked with finding new clients for our company. Then flew back. 2. Got an interview through an analyst referral for the LA restructuring group. I applied through college or university. It's not as hard as expected. Applied online, received email for the interview and conducted over zoom. They really wanted to see the enthusiasm in you, so be prepared with lots of motivation questions. Compensation info for 1st Year Analyst in Houlihan Lokey (London). Financial Analyst (39) Analyst (33) Investment Banking Analyst (25) Summer Analyst (21) Investment Banking Summer Analyst (17) I interviewed at Houlihan Lokey (New York, NY). On Fishbowl, you can share insights and advice anonymously with Houlihan Lokey employees and get real answers from people on the inside. Maturity walls refer to points of time when various pieces of the capital structure come due. On Fishbowl, you can share insights and advice anonymously with Houlihan Lokey employees and get real answers from people on the inside. What would you suggest they do with their debt/equity ratio? The process took 2 months. Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries). 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. What's a deal we worked on that you found interesting? 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. Interviews for Top Jobs at Houlihan Lokey. 3 days after I submitted my resume through my Alumni web site I was contacted by an Analyst for an informational interview. The process took 1 week. Houlihan Lokey Price Performance. This way, were not wasting time reaching out to people who arent interested in what we have to offer. Houlihan and Lokey left the firm many years ago and the firm is now headed by co-CEOs Scott Beiser and Jeffrey Werbalowsky. Anonymous Interview Candidate in Beijing, Beijing, I applied online. What advice do candidates give for interviewing at Houlihan Lokey. 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. From a simple recovery perspective, you have an EV of $150 (30*5). I . Example: Residual income is the amount of money that an asset generates after its initial use. Houlihan Lokey (NYSE:HLI) is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, and financial and valuation advisory. All RX shops will gladly take on debtor or creditor side engagements. Explain residual income and its importance. Interview. Interviews for Top Jobs at Houlihan Lokey. MCOL. The interview went pretty well, I got invited to Dallas for a Super Day which was relaxed but a little unorganized. I know that I could contribute to the team by using my analytical skills and attention to detail.. If you get the HLHZ restructuring group offer and you like the nature of the work, go for it. The process was fairly straightforward and quick. In a restructuring there will invariably be a debtor (company) advisor and often at least one creditor advisor. Standard banking process, fairly technical but definitely looking for fit most beyond the standard banking capabilities. The number you see in the middle of the doughnut pie chart is the simple average of these scores. Why financial restructuring? Houlihan Lokey is looking for candidates who can solve problems and find solutions. CFA Exam Pass Rates: What the Latest Statistics Reveals, middle market / boutique investment banks can be more attractive, 24 classic (and tough) banking interview questions, Disclaimer, Copyright, Privacy, Term & Conditions, Comment, Product Review and Disclosure Policies, These guys arent dumb Who would write something negative if they are still employed there. 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. Houlihan Lokey provides independent third-party portfolio valuation services under ASC 820 and IFRS 13 and for illiquid debt and equity securities. Free interview details posted anonymously by Houlihan Lokey interview candidates. Then, I break down the problem into smaller pieces so that I can analyze each part individually. 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. Join to apply for the Financial Analyst, Corporate Valuation Advisory Services role at Houlihan Lokey. So as equity trades closer to zero, the value of equity begins to look much more like a call option. Interviewers ask this question to make sure you are comfortable speaking in public. 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. Anyone know anything about Houlihan Lokeys M&A Tax group? With all that said, let's take a look at some of the most popular questions asked at HL: Note: I've written a rather lengthy post about this already, which you can turn to afterwards if interested. 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.

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