Worth lateraling from Houlihan Lokey to BB/EB?
I’m a summer intern (ignore title) at HL (NYC) in one of their better CF (M&A) groups (Industrials, CFR, HC, etc.). I am interested in MM/UMM PE and am wondering if it’s worth lateraling to a BB/EB for full time. I like my group’s culture and the hours aren’t horrific (~75 hours for FT analysts). Is it worth the risk to lateral to a toxic / sweaty group or will I have plenty of opportunities for MM/UMM PE assuming I put in the work to prepare for interviews?
Thanks!
MM is easily doable at HL. UMM may be tougher, but I'd argue 90% of it comes down to the individual.
Used to work at HL. MM is 100% attainable from HL and you will not have any problem.
However BB/EB M&A groups will make it easier to obtain interviews with UMM/MF (brand, entrenched hiring practices, larger class size/network across buyside firms etc.). Just look at websites and you will see BB EB backgrounds typically.
More importantly I suggest adequate preparation and figuring out what strategy or sector you would like to pursue on the buyside (many people prioritize optionality/brand name, which is fine if you want to kick the can). Hopefully you can find a mentor this summer, as that will be key in your preparation
Look on LinkedIn at past HL exits (make sure not RX). Bonus points if same group as you.
Pretty easy to separate the best exits from the not as good, and should be easy enough to see the possible range of outcomes. If no one has gone to a fund over $5B in the last few years, safe to assume that’s off the table and you should lateral (not saying it’s the case just floating the possibility). If you’re really interested in a few funds and you see people going to either that fund or similar competitor funds, chances are it’s at least possible.
Was in a similar position (different MM not HL), but felt like there were enough exits to funds I was interested that I was confident I’d have options, and it worked out well for me on-cycle.
Doesn’t really matter what people on this site say of if it’s possible or not (no one can say with certainty yes or no), just look at the actual data and make a decision based on that
OP here. I am not targeting $5B+ funds but anything from $500M - $3B I’d say. It seems like those funds will be possible from HL with enough networking and interview prep. Appreciate the insight!
Also an HL, higher tier M&A group like you, but not NYC. We have had guys from my team exit to funds all across that spectrum. Once you get outside of 2.5-3Bn, it becomes a little more difficult. But this seems very doable, just my 2 cents from a guy in your same shoes.
personally I wouldnt want to be associated with Houlihan or worse, have to tell people I work at Houlihan.
basically just signals to people I either
1. don't interview well
or
2. don't have connections
or
3. went to a non target
all of which I just cant live with people thinking about me.
Hello to the Blair guy who went to Berkeley and couldn’t get into haas.
Ignore title, Prospect here. Could you explain why you’re making this seem one-sided? If you were to receive a HL return offer would you not have the time to hold on to it while attempting to lateral? Would HL hear or something?
OP here. If I got a return offer from HL, I would have to give a quick response or it could raise red flags. I would also prefer to lateral before starting full time if I decide it’s worth it.
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