Houlihan Lokey Associate Interview Questions
& Process
Real candidates share what happened, how many rounds they had,
and how the experience turned out.
Based on 14 interview experiences · FREE TO READ
Candidate interview experiences
First-hand accounts from people who interviewed at Houlihan Lokey.
Houlihan Lokey
Associate
Entry Difficult Positive experience Accept offer 3 rounds
Interview process
Recruiter call Technical screen Take home Background check Offer
Interview formats
Technical Case
Three rounds of interviews where each subsequent meeting was with more senior people. After that, there was a modelling test, specifically a paper LBO. The test could sometimes be administered after the second round. The entire process took quite a while because it was off-cycle, but HR did a good job of keeping me updated on the next steps.
Confirmed questions1 question
- Can you explain three financial statements from an accounting perspective?
Houlihan Lokey
Summer Associate
Intern Average Positive experience Accept offer 2 rounds
Interview process
Recruiter call Phone screen Onsite
Interview formats
Technical Behavioral
Applied for a summer internship in the FAS group. Had an initial phone interview with an Associate where we discussed pricing a bond and basic valuation questions. Then, I had an in-person interview with two VPs that covered basic DCF questions, asked me to talk about a recent valuation I completed, and included some questions about comparable companies.
Confirmed questions5 questions
- Could Target be used as a comparable company for Forever 21?
- Can you explain the DCF process to me?
- What are your thoughts on the possibility of working very long hours?
Houlihan Lokey
Associate
Entry Difficult Neutral experience No offer 2 rounds
Interview process
Recruiter call Technical screen Onsite
Interview formats
Technical Behavioral Case
They asked me how to value a company and really dug into the assumptions and weaknesses of DCF. Then they asked about stocks I was following. The interviewer posed a scenario: if a friend gave me $100,000 to invest, what would I do? After that, I had to go through the financial statements and explain their interconnections. Finally, they asked which financial statement is most crucial for assessing a business's health.
Confirmed questions2 questions
- How would you approach valuing a company?
- Given $100,000 to invest for a friend, what would be your investment strategy?
Houlihan Lokey Associate Interview Questions
Quoted word for word from Houlihan Lokey interview reports.
“What is Yield to Maturity?”
Read reports →“What is the formula for WACC?”
Read reports →“What is the method for determining the price per share?”
Read reports →“Can you price a bond?”
Read reports →“Could Target be used as a comparable company for Forever 21?”
Read report →“What is the impact of a $10 increase in D&A on the three financial statements?”
Read report →“Which valuation method yields the highest valuation?”
Read report →“What are the steps for a company to become publicly traded?”
Read report →“Could you explain the flow of PIK interest through the financials?”
Read report →Formats, difficulty and experience
Across all 14 Houlihan Lokey interview reports.