Houlihan Lokey Healthcare Group Insights
Hi All,
Looking at lateral opportunities at MM HC banks. Want to get more info on Houlihan's HC group. A couple of initial questions I have:
Noticed that HL has three locations for HC groups - NYC, Dallas and Chicago. Do certain locations cover different verticals?
Which location is considered to be "head office" vs. satellite locations? Looks like the head of healthcare sits in Dallas.
Looking at old WSO threads, the Dallas office is notoriously known as being sweaty - is this still the case?
Any additional insights into the HC group would be appreciated. Thanks in advance.
Bump
Bump
Bump
Yes, very sweaty and very busy. Good and improving reputation in HC, winning some high-quality mandates. Good comp.
Probably get a great bang for your buck, assuming they pay what is considered street in NY.
Good deal flow. Great place to learn
Dallas office is confirmed super sweaty
Can you expand on that? Is it high turnover or the team just runs really lean?
Not the poster above but yes to both. I can’t think of a single analyst that has stayed for A2A or an associate that has stayed for any long period of time at least in the Dallas office which is where the group head sits. If I remember correctly it’s mostly healthcare services (like outpatient clinics, dentists offices, vision offices, that kind of stuff and I think they were trying to more healthcare device work). I believe they cross staff across offices so the fact you are in one city over another doesn’t really matter and deal teams will be mixed up with people across NY, Dallas, Chicago.
At one point was looking to lateral and had one connection basically tell me that whatever I do don’t join that group. He had some story that a friend joined as a lateral associate from a BB firm and he had warned him to not do it because of the hours and his friend was like come on I can handle it I work long hours now and then he ended up quitting like 3 months in to the gig.
The other quotes I heard from people were like Sunday’s are considered Monday’s and I didn’t get the vibe Saturday’s were largely respected.
the group is very busy and has good dealflow but doesn’t sound staffed correctly at the junior level. Another quote I remember is something along the lines that the healthcare team had the highest fee per banker / headcount group at the firm. Which I think was suppose to be a brag but all that reinforced for me was that they are consistently sweaty and understaffed.
Sounds like a good learning experience but just want to give fair warning that from my conversations it sounds like you be worked extremely hard and I wouldn’t plan to be on the team for an extended period of time
As someone else mentioned; they cross staff office so there’s no real satellite office. The comp is fine but wouldn’t be on par with other MM banks (Blair) that have been paying out big bonuses the last two years. 100% bonuses would be a rarity as opposed to the norm. Overall, very sweaty with a lot of people leaving within 12 months of joining (some within 1-2). They have protected Saturdays which is good but Sundays are generally 15-18 hour days then.
Thanks for the additional detail - don't know why people throwing MS
Our healthcare system is bad
HL HC is one of the best groups on the street. All the power sits in Dallas (group head and top rainmaker). Dallas used to be sweaty but it’s gotten a lot better
Bump - had a headhunter reach out offering either Chicago or Dallas. Curious if the culture change has been permanent.
It has not changed and therefore is not permanent! Would avoid it at all costs.
Any insights on the industrials group in Dallas?
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