Please describe the interview / hiring process.
Talked with an alumni from my school, and got my resume forwarded onto another associate for a first round. Started with typical questions: tell me about yourself, why are you interested in restructuring, why Houlihan Lokey, tell me about what you did last summer. Then he moved into the more technical side of things: if you were to choose one line from each of the 3 financial statements, what would you choose and why? What are the 4 valuation techniques? Which one would give you the highest valuation? The lowest? He then asked me a couple questions about Enterprise Value: Let's say we start out with EV = 300 with 200 of debt, what is equity value? What will happen to equity value if EV goes to 150? What about to debt? What is the "fulcrum" debt instrument? Hardest question tbh was "what would be the first thing you would ask the management of a distressed company when you sit down with them?" Then the last 10 minutes were just me asking questions about what he does and stuff.
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