
Houlihan Lokey Interview Questions
& Process
Real candidates share what happened, how many rounds they had,
and how the experience turned out.
Based on 385 interview experiences · FREE TO READ
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30 roles · 385 reportsCandidate interview experiences
First-hand accounts from people who interviewed at Houlihan Lokey.
Investment Banking Analyst
First, there was a 15-minute screener call that was mostly behavioral questions but included some basic technicals like how to value a company, and walking through a DCF. The Superday happened two days later and was also mostly behavioral with some basic technical questions. They really focused on teamwork skills during the Superday.
- Can you explain how you would value a company?
- Could you walk me through a Discounted Cash Flow (DCF) analysis?
- How would you calculate the Weighted Average Cost of Capital (WACC)?
Intern
The process began with an online assessment, followed by an initial chat with HR. After that, there was an Assessment Center (AC) which involved a series of interviews, covering everything from motivational questions to technical ones. Overall, it was a pretty straightforward and enjoyable experience because the interviewers were really friendly.
- Can you tell me why you are interested in HL?
- What are your reasons for pursuing M&A?
Analyst
It's the typical investment banking process. First, you apply online. Then, there's a psychometric assessment, followed by an HR screening. After that, an Associate will interview you, covering your motivations for the role and some technical questions. Then comes a case study, which involves prep and a presentation. Finally, you have a meeting with a Managing Director (MD).
- What are your motivations for pursuing a career in Investment Banking?
Executive Assistant
I was first contacted by a recruiting coordinator to set up a 30-minute phone screen for an Executive Assistant role in Charlotte. Within a week, I had a virtual interview with the Admin Coordinator in NY, which went well. A few days later, I got another request for a virtual interview with a Managing Director. It was brief because he was late. Then, another interview request came in for a virtual interview with another MD. That also went well, and I was invited to an in-person final round panel interview called a "Super Day". It was supposed to be two 30-minute interviews, but the scheduling was weird, with some interviews on different days. I picked a back-to-back option, but then they asked if I could do it the Friday before. I agreed, and got an invite for one 30-minute in-person interview, and then another virtual interview the following week at a time I wasn't available. This scheduling mix-up also happened with the first interview I scheduled via Calendly. After all these scheduling changes, I felt like they weren't serious contenders because they kept changing things. I sent a polite reminder that I'd already scheduled time for 4 interviews and didn't want to waste my time if they had preferred candidates. The latest request was for the next day, which I was ready for. However, late that evening, I got a missed call from a NY number. When I called back, the Talent Acquisition Manager told me they decided to go in a different direction after discussions that day, mentioning they had a temp in place. I asked when they planned to tell me this, especially after all the interviews and the day before my "Super Day" interview. She said my interview was at 4:30 PM the next day, but it was actually scheduled for 11:30 AM, and it was still very unprofessional. I received an email canceling the interview late that night. It's unbelievable how disconnected the MDs are from the rest of the hiring team. Given their business, I expected a smoother hiring process. I'm disappointed they disrespected my time, especially since two interviewers were late for their own interviews. I would have considered a temp role, but that wasn't discussed. Not getting to the final "Super Day" was disheartening.
- Would you be comfortable working in the office five days a week?
Houlihan Lokey Interview Questions
Quoted word for word from Houlihan Lokey interview reports.
“What effect does a change in WACC have on the stock price?”
Read reports →“What is the impact of an increased tax rate on Enterprise Value?”
Read reports →“What impact does a ten dollar depreciation have on the financial statements?”
Read reports →“What is the impact on the three financial statements when paying down debt?”
Read reports →“Explain why two pari tranches of debt may trade at different market prices.”
Read report →“What's the delta for a mix of long and short calls that have the same strike?”
Read report →“What would be the effect on the three financial statements if depreciation were $10?”
Read report →“What is the impact on the three financial statements when buying debt?”
Read report →“What's the impact on the three financial statements if X increases by $10?”
Read report →Formats, difficulty and experience
Across all 385 Houlihan Lokey interview reports.