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Middle Market

Houlihan Lokey Interview Guide 2026

Houlihan Lokey is the world's largest restructuring advisory firm and a leading middle market M&A advisor. The firm has built exceptional expertise in financial restructuring, valuation, and special situations.

Los Angeles, CA
Founded 1972
Acceptance rate: ~3-4%

Interview Process

Timeline

2-3 weeks

Difficulty

challenging

HireVue

No

First Round
Superday

Houlihan Lokey's process emphasizes technical competency, particularly in valuation and restructuring. The firm tests problem-solving abilities and fit with its analytical culture.

Superday Format

Typically 4-5 interviews with significant emphasis on restructuring concepts for RX candidates. Valuation questions are common given the firm's expertise.

Culture & Work Environment

Work-Life Balance
Compensation
Prestige
Training Program
Exit Opportunities

Houlihan Lokey has a strong training culture, particularly in restructuring and valuation. The firm is known for technical excellence and offers unique exposure to distressed situations. Work-life balance varies by group but is generally demanding.

Target Schools

WhartonUSCUCLANYU SternDukeGeorgetownMichiganCornellUT Austin

Industry Groups

RestructuringCorporate FinanceFinancial Advisory ServicesTMTHealthcare

Key Stats

Acceptance Rate~3-4%
Analyst Class Size100-120
Interview Rounds2

Last updated: January 18, 2026

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