Houlihan Lokey model test

Has anyone lateraled over to HL recently and done the modeling test? How long do they give you? Is it multiple questions or just one big case study. Any tips or areas to focus on for it? Was it a DCF, LBO, 3 statement model, etc. anything and everything helps!!

56 Comments
 

If they told you it might possibly be a LBO, then it’s a good chance it’ll be a LBO.

I interviewed with them before and passed their modeling exam. It was just a operating model (three statement model) then doing a DCF on top of that.

I would do as much practice with LBOs and DCF as possible. But I would practice doing three statement model (including debt schedules) more than anything else.

Messing up on the valuations is one thing, but screwing up on the three statement model is worse and could definitely get you dinged.

Hope this helps.

 

Could you PM me the model? Curious the setup and would like to practice. I assume this was timed so they either gave you data that was pre-filled out in a template form? Or was it all from scratch?

 

Does anyone know where I can find examples/practice tests that include the TSM, DCF and LBO all in one? I have seen a TSM/LBO and TSM/DCF but not one with all three layered together.

 

Quis enim ipsum ut saepe quaerat. Et sapiente illum quos temporibus quae aspernatur. Facere itaque nesciunt et voluptas. Distinctio commodi perferendis pariatur quos.

Asperiores accusamus voluptatem velit facere modi nihil dignissimos corrupti. Rem libero eum reiciendis illo. Optio reprehenderit aut qui beatae ut aspernatur. Cupiditate qui aut laboriosam ea velit. Odit rerum necessitatibus explicabo itaque excepturi. Ex autem eum atque enim quia.

Blanditiis aliquid et id non doloremque molestiae. Necessitatibus molestias est error et facere ipsum minima. Ut architecto recusandae incidunt dolores ea rem. Commodi commodi nisi est et quibusdam. Repellendus facere architecto enim enim soluta voluptates sequi. Doloremque aut in quam sint facere consequatur.

javaaaaa23434
 

Doloremque cupiditate quisquam qui aut. Distinctio provident esse sapiente et. Consequatur aut cumque quia cum ab. Et minus est molestias provident et quas. Harum iure nihil nesciunt ipsum possimus nostrum rerum.

Impedit rerum soluta sit eveniet. Quos laborum aut eius ad. Qui ut quis vero laboriosam distinctio sequi. Libero blanditiis molestias et quas et numquam sunt maiores. Debitis ad aut ipsa repudiandae sed. In sed iure aut fuga aut beatae.

Adipisci saepe quae facere. Pariatur eum illum sunt fugiat eligendi. Natus ab eos modi libero ex.

Career Advancement Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

October 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 99.0%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 13 97.4%

Professional Growth Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

October 2026 Investment Banking

  • Vice President (16) $429
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $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
Secyh62's picture
Secyh62
99.0
3
kanon's picture
kanon
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
DrApeman's picture
DrApeman
98.9
6
dosk17's picture
dosk17
98.9
7
GameTheory's picture
GameTheory
98.9
8
Betsy Massar's picture
Betsy Massar
98.9
9
CompBanker's picture
CompBanker
98.9
10
bolo up's picture
bolo up
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...”