HL Modeling Test
Anyone know what the modeling test is for lateral analyst for HL? Is it DCF or an LBO, and how long do you have?
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Based on the most helpful WSO content, lateral analyst modeling tests can vary depending on the firm and role. For Houlihan Lokey (HL), while there isn't specific information in the context about their exact modeling test, similar lateral analyst tests often include DCF (Discounted Cash Flow) or LBO (Leveraged Buyout) models.
The duration of these tests typically ranges from 1 to 3 hours, depending on the complexity. For example: - Some tests are described as "simple" and last around 1-2 hours, focusing on straightforward assumptions and templates. - Others, like a 3-hour Excel modeling assessment, may include a combination of 3-statement models, DCF, and LBO or smaller exercises.
To prepare, ensure you're comfortable with: 1. Building a DCF and LBO model from scratch. 2. Understanding key formulas, such as debt schedules for LBOs. 3. Practicing with templates and sensitivity analyses.
If you're unsure, reaching out to peers or colleagues who have taken HL-specific tests could provide more tailored insights.
Sources: Guide to Lateraling in 2021, 2-hour Modeling Test for HF (Fundemental Equities) - What to expect?, Preparation for 2 hour LBO modelling test, DCF Modeling Course ~ Pre-training text.pdf, Lazard first round - Consisted of three parts
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