Houlihan Lokey Chicago Reputation? (Healthcare and RX)

pbeverley's picture
Rank: Monkey | banana points 36

Does anyone have any insight into the Houlihan Lokey Restructuring and Healthcare groups in Chicago? I am aware HLHZ RX is traditionally a strong group, but haven't heard much about the Chicago office. Same for the Healthcare team.

Any information on the culture, compensation, reputation, exit opps, etc. would be appreciated!

Comments (18)

Sep 11, 2018

Chicago is home to Food/Consumer team. Very strong. Lots of sponsor representation and is the most active MM team in the space.

Sep 11, 2018

bump

Sep 12, 2018

Very strong in both groups. Expect to get worked in RX, but they're the best in the business for that coverage group and you'll have a great experience.

Plus Chicago is a place with New York opportunity at half the price, you'll have a great quality of life in the city.

Sep 12, 2018

Interested in hearing more about RX and about exit options from that group in particular (bonus points for Associate level exit options).

Sep 12, 2018

Have heard that the Chicago RX group previously had a reputation for screamers and bad culture, is this still the case or have things improved?

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Sep 12, 2018

It seems like the HLHZ RX are sweatshops across the board.

Do you have any insight into the culture of the Healthcare group?

Sep 12, 2018

It's better than other HLHZ groups by comparison, the same way prison in Russia is better than prison in Turkey.

Sep 12, 2018

I currently work IBD in SF and am not too familiar with the Chicago banking landscape.
Do you know what HLHZ's hours might look like? I am hearing it's a sweatshop in Chicago, but that is all relative. I am not sure if Chicago banks work you harder on avg than SF banks do

Most Helpful
Sep 12, 2018

General overview of major Chicago banks

  • Baird: I've heard long hours but chill people. You might work to 1 am most nights, but nobody is screaming at you. Plus, work from home is encouraged, so a lot of people pack up around 7 or 8 and finish the night in their apartment.
  • BB outposts of NYC/European banks: Tend to be pitch shops from what I've heard, but it varies from bank to bank.
  • Blair: Shorter hours but more intense than Baird. It's not uncommon for an MD to go all out on an analyst or associate. Most teams are finished by 10-11, though.
  • Lazard: Everyone I know who works here (mostly auto) loves it. I know two people who switched from Lazard Chi to Lazard NYC and quit because the NYC office was totally culturally different.
  • Lincoln: Will work you to death.
  • HLHZ: Sweaty.

Here's someone else's take from an older topic.

[quote="Mr. Bateman"]
MS, GS, JPM, BAML, CS, Citi, Barclays, DB and UBS all have offices in Chicago and cover different things.

MS - Industrials and i believe some business services/TMT. Might have a small healthcare team too
GS - Used to have a sold packaging MD who left for Rothschild. Now i believe its just industrials but not 100% sure. FIG maybe?
JPM - Diversified Industrials and Consumer (Consumer team is much smaller)
CS - Not 100% sure anymore. Used to have a good Education practice, but MD recently left for Macquarie. Probably still do TMT in some capacity
BAML - Industrials and consumer. Consumer seems to be mostly Proteins
Citi - Industrials and M&A. Co-head of M&A sits in Chicago. Apparently this place is pretty sweaty
Barclays - Education, Business Services, Financial Sponsors, and Packaging. Packaging MD left last summer for Evercore, but they have a new packaging MD they hired away from DB
DB - Believe they still do packaging and some industrials work. Not 100% sure
UBS - No clue anymore. Small team now. Used to be very solid back in the day, though. Lost a lot of MDs, know one guy went to Greenhill.

As far as EBs go, I know Greenhill, Moelis, Lazard (regular and MM) and Evercore have offices here as well.

    • 4
Sep 12, 2018

Chicago restructuring is relatively weaker vs. other offices. They don't do a lot of the large, complex restructurings that you want to get experience with as an analyst (assuming you want to work at a hedge fund). Exits to MM PE and direct lending funds will be fine though.

Sep 19, 2018

Houlihan is good in restructuring. Don't really know about Chi, but Minny has some restructuring ballers. They typically represent creditor side, which is the opposite of most banks- the experience will be "different," but if you work hard it should still be good.

As far as exit opps, restructuring tends to go to turnaround shops and distressed debt funds, stuff like that. It's really up to you if you would rather go BB, but I think HLHZ would be much more stable over the short term.

Sep 19, 2018

hey, did you ever interview for the CFR group?