Got a first rounder with HLHZ DC coming up for summer analyst. Anyone got any insight into what to expect or the office in particular? I know they do a lot of A&D work. It's for HLHZ's corporate finance division.
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They're big on technicals, know them well (M&I guide covers almost everything).
One specific question I remember:
Walk me through how a $100 transaction, $50 cash and $50 debt would flow through the financial statements at the end of year 0 and the end of year 1. Assume 10% pre year depr expense.
good luck.
Whats the answer to this question? I did it but I'am sure its completely wrong..
HL is HUGE on technicals...know how to walk through an LBO, know whats going on in A&D right now (go to dealbook specific A&D section and read some recent deals), and also do your homework on HL
i interviewed for a FT position there, and it's not THAT bad guys. there is a corp fin test but if you study finance as a major you'll do just fine. in general they won't ask you detailed technicals (i never got LBO or any of that). just the old "how does an increase in depreciation affect the four financial statements" crap. a lot of it is fit and why you want to work in ADG, MM, the Washington DC area.
good luck, pm if you have any other questions.
Yea I'm not sure what everyone else is talking about. My interviews only included a connect the financial statements, and then OK, since you know that: how does $100 depr flow through them (maybe a question about the economy and calculating EV). The rest was fit and them telling me how awesome the culture was and how coworkers become best friends and all go out to get drinks together if they ever get out of the office. They were great people but it wasn't their DC office.
They told me that I came off very polished and that was one of the major things they were looking for in the interview. So if I were you I would work on knowing your story and being able to communicate it succinctly. Oh yeah, and there is an accounting/finance test but don't worry about it just make sure to study your basics.
It's a long answer...
To start, I should have clarified--it's a PP&E transaction, also, debt incurs 10% interest per year.
Start of year 0: No changes to the income statement
Investment in factories would show up as a $100 outflow in cash from investing activities, cash from financing activities would be up by $50 so overall cash flow statement is down by $50
Cash and equivalents would be down by $50 on the balance sheet, but PP&E would be up by $100 so the assets side is up by $50; debt under liabilities would be up by $50 as well so the sheet balances.
Start of year 1: Pre tax income would be down by $15, assuming a 40% tax rate, net income would be down by $9.
Going into the cash flow statemnt...cash from operations would be down by $9 but D&A is a non-cash expense so it is added back, overall cash is up by $1.
Cash and equivalents is up by $1 on the balance sheet but PP&E is down by $10 due depr so assets side is down by $9. Liabilities is also down by $9 (due to the decrease in NI) so the sheet balances.
isnt this wrong?
how so?
Just out of curiosity, what school do you go to?
That's funny because I got the exact same question at HL In LA.
^^^ that was from an interview with Corp Fin in LA....haha
Anyone know if superday invites (for SF (specifically financial advisory)) have come out yet? I phone interviewed last monday 1/23, still waiting on a response
Got a call back for a HL superday today, interviewed earlier this week..
Okay interesting, earlier this week as in... last thursday ish? I'll wait a few more days, hopefully they'll let me know soon
As in yesterday.
Ah man... Seems like you had a whiles notice before your interview. HR literally called me the day of and asked if I was free later in the day last monday. Hopefully they respond
What do you mean, they invited you for the interview on the same day you received their call back?
No, they did mine as a phone interview. They just asked if I was open for a phone call later that day
nvm just saw the "also, debt incurs 10% interest per year. "
Houlihan Lokey DC vs. LA office (Originally Posted: 03/29/2011)
Hello,
I was wondering if anyone had some insight into the cultural differences between the Houlihan Lokey LA office vs. DC office. Is one known to have a more rigorous work culture than the other(especially in terms of hours). Also if anyone has interviewed at either of these two locations for an M&A financial analyst, I would be interested to hear what the interviews were like.
Thanks.
I think DC is heavily A+D and probably a sprinkling of some other group(s). LA is HQ; better everything.
If you have a choice go LA.
I interviewed at one of their other regional offices and it was probably the most laid back interview/super day I've had. Going into it, I had heard that they really emphasized technicals and even had a written test but I found this wasn't the case at all in my situation. So my guess is it will be really dependent on whether or not your interviewing at HQ or the DC office.
PM me and I can help you out - have friends who worked in both offices with one still there in DC.
Does anyone have any comments about the New York office?
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