Hello everybody, This summer I will join the financial restructuring team of HL as a summer intern and it will be my first experience in IB. The people I interviewed with were great! But I heard various stories (good and bad) about the bank in precedent topics here in WSO, I still don't have an idea about what I can expect this summer. Is there anyone that has previously worked in HL that can tell me more about people, culture, working hours exc?
Cheers! TV
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Have a close friend in the group. You will work plenty hard especially as restructurings are picking up.
Culture is supposedly one of the best on the street and there is no face time but their deal flow requires you to be in the office most of the time anyway.
Definitely depends which office you're in here. I know from various guys that work here that LA is much less intense of an environment. Culture is great - exits are great as well (a lot of guys go to Oaktree)
I know that the Minneapolis culture is extremely laid back. Business casual, very informal in general unless clients are coming in, and Rx has been in on some great deals. I can't comment on hours.
I'll be in the London Office. Actually I heard the same about the culture... But also that is a sweatshop and worklife balance really poor. We will see!
Have a friend there. He said that Houlihan's a great shop, and it sounded very fratty from the tidbits he's told me. For example the NYC office likes to run out and grab drinks on Fridays.
For hours he told me that it depends heavily on which group you get into. Some of the firm's flagship groups are getting constantly crushed, on others you will have most of your weekend free.
Houlihan Lokey Opinions (Originally Posted: 01/11/2008)
Hi everyone. This is my first post, but I've been reading for a long time. I know there are various opinions on Houlihan. I have an interview with them coming up and am curious as to the experience you get working there. I looked at the league tables and they rank highly, but they do like 100 more deals than banks who get about the same in fees. So does this mean that they just do a lot of cut and paste type deals? It just seems kind of odd to me that they do 130+ deals while some do 40 and make the same amount. Are these all fairness opinions that other banks wont touch?
Also, has anyone been through their interview process that can shed some light? Past posts have said technical, but they were for FT. Is SA also very technical?
Thanks for all of your input.
tons of fairness opinions.
is that good or bad?
Fairness opinions are completely seperate from their M&A practice. They close a ton of deals. If you work in Corp. Fin. you do M&A or financing, if you work in their Financial Advisory Services practice, you'll do fairness opinions and crap. Interviews are no more technical than any other, just know your shit and you'll be fine.
Houlihan organizes its firm into 3 groups; these are Corporate Finance, Financial Advisory Services (FAS), and Financial Restructuring (FRG). Corporate finance deals exclusively in the middle market, but dominates its market space in M&A advisory. HLHZ's FRG is argueably the best restructuring group on the street. This group serves both BB and middle market clients (Enron, Worldcom, etc.). FAS has a variety of services including solvency oppinions, purchase price allocations, and the forementioned fairness oppinions. What you will see in interviews depends on which group you are interviewing with.
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