Houlihan Lokey associate interview - what to expect?

Hi all, I have a phone interview with Holihan Lokey for the associate position in financial advisory services. Does anyone have experience with that and might know what types of questions they ask as a first round phone interview?

Also, how do you compare this FAS group vs the corporate finance group , which i believe this the traditional IBD M&A and financing group? Will I still get a well rounded investment banking experience from that group? Exit opps same as the corporate finance group?

Thanks.

 

Interviewed for a lateral analyst position at HLHZ FAS NY a while ago. More technical than most of BB interviews. Please prepare for both basic valuations and case studies.

Be able to explain why FAS, not IBD is also the key. FAS mostly do fairness opinion, solvency opinion, portfolio valuation etc. It is quite different from traditional M&A, though its FAS team work together on many assignments with the M&A team and restructuring team.

 
Ukon:
Interviewed for a lateral analyst position at HLHZ FAS NY a while ago. More technical than most of BB interviews. Please prepare for both basic valuations and case studies.

Be able to explain why FAS, not IBD is also the key. FAS mostly do fairness opinion, solvency opinion, portfolio valuation etc. It is quite different from traditional M&A, though its FAS team work together on many assignments with the M&A team and restructuring team.

Thanks, this is helpful. Can you clarify what you mean by case studies? Like those for consulting interviews?

Also, what was your answer when they asked you why FAS as opposed to IB/Corp finance? I would think it's hard to justify why someone would love valuation work over M&A? As for fairness opinion, solvency, I just know what the website says...that's not enough right? Can you elaborate on what they do exactly?

Thanks man, appreciate it.

 

@aceman:

FAS vs. IBD: -Mostly execution, little to no pitch assignments in FAS -Opportunity to work on your assignment together with Corp Fin and Restructuring -Opportunity to learn and gain exposure on a variety of different services that you usually will not be able to work on in traditional IBD (obviously you have to say that you like valuation...) -More focused on technical skill development -HLHZ's FAS offers an investment banking approach to valuation, as opposed to that of the accounting firms, which stay at an accounting level of approach

Just my 2cents.

 

It seemed to me that the FAS guy I heard from talked about his experience as more fast-paced, with turn-around time of engagements being like 2 weeks long. So, you're getting exposure to a LOT of different businesses, which could make for a stimulating experience. You could talk up that angle.

Not to hijack the thread, but I will be interviewing for their restructuring group, anyone with specific insights as to what to expect on that front? What would be a good angle as to why restructuring work on creditor side is preferable? Thanks.

 

@IBPEHFVC are you interviewing for an analyst of an associate position?

I went through the (analyst) process myself for a spot within their restructuring group. At the analyst level, the first round was not overly technical although they digged quite a bit on the specifics of valuing a distressed company. A good resource is the guide that they have on their website ("Buying & Selling the Troubled Company: A Case Study"), which offer quite a lot of insights on distressed situations and valuation from both the creditors and distressed company standpoints. If you haven't read it at this point, go ahead; it really helped me to nail the technical part.

Best of luck!

 

ny or london? I know someone at HL FAS and I would agree they are super technical and straught shooters. I think it's the culture overall at the firm. they're not looking to teach so much, they do it like the GMAT, answer 1 Q right and the next is harder and harder.

 

bump

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 

I interviewed with HL back in the day. I had a superday in LA--depending on where you will be culture will be different. Most of the guys I met in the LA office were very laid back (it was friday, everyone was wearing jeans and polo shirts) and the HR girls specifically told me that the LA office is much more laid back compared to NYC. Mostly USC and UCLA guys, so think of your typical californian, but on the most conservative side of that scale (this is still banking). Most of the more senior guys I met with were ex-BBers, moved to LA for lifestyle reasons. They all mentioned that they loved working with guys who had started their business from the ground up bc you could tell they lived and breathed their business etc. Hope that helps.

 

Vel adipisci veritatis doloribus est ut. Sit labore omnis consequuntur voluptate quam est repellat recusandae. Rerum similique tenetur ea fugit nam corporis est beatae. Ducimus at labore voluptatibus omnis.

Consectetur et iste et sunt ullam autem. Similique et repellat dolorem sequi ducimus necessitatibus facere. Qui accusamus id sed exercitationem quibusdam dolor et.

 

Corporis vitae molestias autem quia repellendus. Aut perferendis tempora neque reiciendis earum asperiores. Sit dolorem iusto ullam id. Natus impedit aut autem sed distinctio voluptas minima. Fugit dolore aut nam dolorem ab.

Molestias dignissimos temporibus non voluptas quia iure. Alias perspiciatis est facilis tenetur sapiente. Ut et laboriosam aut. Tenetur vero aperiam iure necessitatibus quo. Doloremque et quis vero consequuntur aut sed. Quas iste voluptatum quod animi repudiandae. Distinctio dolor ut ut consectetur neque ratione.

Sit sunt saepe harum exercitationem dolor libero deserunt iure. Qui nihil rerum tempore modi facere quidem sed. Consequatur qui accusamus nulla id et repellat.

Doloremque voluptatibus aut aut voluptatem dolor consequatur libero. Cumque tempora occaecati et quos cum ex in.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
dosk17's picture
dosk17
98.9
7
DrApeman's picture
DrApeman
98.9
8
CompBanker's picture
CompBanker
98.9
9
kanon's picture
kanon
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”