Houlihan Lokey Summer Analyst Internship
Everything you need to know about the Houlihan Lokey summer analyst program, including compensation, conversion rates, recruiting timeline, and application tips.
Last updated April 2026 · By the Superday AI editorial team
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$2,020/week
10 weeks
~70-82%
Overview
Houlihan Lokey's Investment Banking Summer Analyst Program places interns directly onto live restructuring, M&A sell-side, and valuation engagements from the first week, with conversion to full-time historically running 70-82%.
Key facts
- The Investment Banking Summer Analyst Program runs 10 weeks from June to August.
- Interns earn roughly $2,020 per week, about $105,040 annualized.
- Interns receive a $6,000 housing stipend, plus up to $1,500 for domestic relocation.
- Full-time conversion has historically run in the 70-82% range.
- Return offer decisions are delivered in the final week of the internship.
Compensation
Houlihan Lokey pays summer analysts roughly $2,020 per week, which works out to about $105,040 annualized over the 10-week program. Interns also get a $6,000 housing stipend, and the firm does not provide housing directly. Domestic relocation assistance covers up to $1,500.
The Experience
Houlihan places summer analysts directly onto active engagements from the first week, often including restructuring mandates, M&A sell-side processes, and valuation assignments. This early immersion reflects the firm's lean staffing model, where analysts are expected to contribute rather than observe. A formal training component covers financial modeling, valuation methodologies, and restructuring fundamentals. Smaller team sizes give interns direct interaction with senior bankers, and the mentorship model provides regular feedback throughout the program.
Conversion & Return Offers
The firm uses the internship as its primary pipeline for full-time analyst hiring, with conversion historically in the 70-82% range. Return offer decisions come in the final week of the internship. The summer culture is demanding but less cutthroat than at some larger banks, with a genuine emphasis on learning and development.
Standing Out
Networking is critical, and interns who proactively engage with bankers across groups tend to have the strongest outcomes. Houlihan's three distinct business segments give interns a broader view of financial advisory than a pure M&A shop would offer. The Los Angeles headquarters also provides a different setting from the New York-centric culture of most competitors.
Internship Compensation
Weekly Pay
$2,020
Annualized Salary
$105,040
Housing Stipend
$6,000
Relocation
Up to $1,500 for domestic relocation
Meals: Dinner expense coverage when working late
Transport: Car service for late nights after 9pm
Recruiting Timeline
Applications Open
March-June of sophomore year
HireVue Deadline
June-August of sophomore year
First Round Interviews
June-September of sophomore year
Superdays
August-November of sophomore year
Offers Extended
September-December of sophomore year
Application Tips
- Demonstrate strong technical and modeling skills, especially valuation
- Research HL's three business segments: FAS, FRG, Corporate Finance
- Prepare for detailed technical questions on DCF, comparable company analysis, and precedent transactions
- Highlight interest in restructuring or distressed situations if relevant
What to Expect
Houlihan Lokey's summer program provides unique exposure to financial advisory services, financial restructuring, and corporate finance M&A across the firm's specialized platform. Interns gain deep technical skills in valuation methodologies, distressed analysis, and complex capital structure work. The program includes comprehensive training on ASC 820 fair value standards and restructuring processes. Class sizes vary by office (30-50 total), with interns staffed across the firm's three main business segments. HL's culture emphasizes technical rigor and analytical depth, attracting candidates passionate about valuation and complex financial analysis. Strong performers receive return offers with flexibility to choose their full-time group placement based on performance and interest.
Intern Perks
- Valuation and restructuring technical training
- Exposure to all three business segments
- Group rotation opportunities
- ASC 820 fair value training
- Mentorship from valuation experts
Frequently Asked Questions
How much do Houlihan Lokey summer analysts make?
Houlihan Lokey summer analysts earn $2,020 per week, which annualizes to approximately $105,040. The program typically runs for 10 weeks.
What is the Houlihan Lokey intern conversion rate?
The conversion rate for Houlihan Lokey summer analysts to full-time offers is approximately ~70-82%. Final week of internship.
When should I apply to Houlihan Lokey?
Applications for the Houlihan Lokey Investment Banking Summer Analyst Program typically open March-June of sophomore year. First round interviews are held June-September of sophomore year, with Superdays August-November of sophomore year.
More Houlihan Lokey Resources
Sources
- Houlihan Lokey - Careers. Houlihan Lokey (accessed 2026-05-14)
- Internship & Co-op Survey. National Association of Colleges and Employers (NACE) (accessed 2026-05-14)