Houlihan Lokey Summer Analyst Internship

Houlihan Lokey's Investment Banking Summer Analyst Program runs 10 weeks from June to August, paying interns roughly $2,020 per week (about $105,040 annualized) plus a $6,000 housing stipend, with conversion rates historically in the 70-82% range. The program is structured to provide interns with hands-on exposure to live deal work from the first week. Unlike larger banks where interns may rotate through orientation sessions for extended periods, Houlihan places summer analysts directly onto active engagements, 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 meaningfully rather than observe. The program includes a formal training component covering financial modeling, valuation methodologies, and restructuring fundamentals. Interns benefit from direct interaction with senior bankers given the firm's smaller team sizes, and the mentorship model ensures regular feedback throughout the program. The firm uses the internship as its primary pipeline for full-time analyst hiring. The culture during the summer program is demanding but less cutthroat than at some larger banks, with a genuine emphasis on learning and development. Houlihan's three distinct business segments provide interns with a broader perspective on financial advisory than a pure M&A shop would offer. Networking is critical, and interns who proactively engage with bankers across groups tend to have the strongest outcomes. The firm's Los Angeles headquarters also provides a unique setting compared to the New York-centric culture of most competitors.