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April 30, 2024
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Hours are very very long. Compensation is street+. Overall a quality bank, one of the top in the middle market. It's easy to work at HLHZ a year and lateral to a bulge, assuming a normal m&a market.
I am interviewing with them in the next couple days and among all the firms that I am sceduled to interview with, they are the one's I would most like to work for. That said, does anyone know specific technical questions that I should be ready for? I know basic accounting and finance, but specific questions would help. Thanks.
if you get past the first round interview, you can expect an actual written test to measure your finance/accounting knowledge.
whatever questions you get in the first round interview are up to the individual interviewer
i have an interview for an associate position coming up.
anything unique strength about the firm? is the LevFin good there? what's the culture?
HLHZ is all M&A, there is no Lev Fin.
Orix, who just acquired them, has a semi-Lev Fin practice, but it is not strong in the US, and the hiring process for HLHZ and Orix are completely separate, and Orix Lev Fin at the moment has next to no interaction with HLHZ.
Only aggressive candidates need apply. Very long hours as they try to dominate the middle market. Technical interview. M&A has a strong relationship with many PE shops. Strong position to lateral to a bulge.
If you join FRG, HF opportunities open up.
how is their middle market position comparing to Jefferies? So they pretty much looking for aggressive people who are interested in M&A? How large is the analyst class size?
I don't buy this "aggressive" business. A friend of mine who worked there over the summer is not that type at all.
Jefferies is a full service bank. HL is an primarily an M&A, valuation and restructuring bank. The two banks primarily compete in the M&A business and secondarily in restructuring. Jefferies restructuring is no where near the same level as HLs. In M&A, the two banks are equally regarded.
With respect to aggressiveness, the MDs are typically hard asses and are indeed very aggressive. But as an analyst you don't need to be aggressive. You just need to do your pitch and bank books right. The hours are borderline obscene, every bit as difficult as a BB, at least in LA. This includes the valuation group as well. Jefferies is a little more laid back.
so HL is probably the best restructuring MM bank?
I haven't inquired about analysts.
The LA office is a sweatshop. Pay is near top of the street from what I have heard. Difficult to get top tier PE jobs afterwards.
Restructuring is really a disinct activity from general investment banking. There are no BB restucturing firms per se. The top names are usually boutiques because of the cyclicality of the business.
HLHZ is one of the premier restructuring practices in the U.S. You could say its the Goldman Sachs of restructuring, which isn't a completely fair characterization but perhaps illustrates the point a bit.
what exactly is restucturing btw? helping companies from backruptcy?
How hard is it to get a job at HLHZ?
Anyone know how compensation and bonuses compare between IB and the FAS group at HLHZ?
HL owns rstrx market on the creditor side. Lazard, Blackstone, and Rothschild do their thing with the debtor. getting more competitive in cr rstrx lately tho -- FTI, jeffries, chanin, giuliani, Miller Buckfire...u shud never consider working m&a at hl... terrible terrible... the only good ibanking exp is in rstrx anyways -- good luck getting into frg.
"u shud never consider working m&a at HL"
Depends on the group and activity within the sector. think before speaking. And btw, your writing style might induce vomiting in some.
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