Houlihan Lokey Interview Questions
The most common technical, behavioral, and fit questions asked in Houlihan Lokey investment banking interviews. Based on real interview experiences from successful candidates.
Last updated April 2026 · By the Superday AI editorial team
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Technical Questions
- Walk me through the key differences between a Chapter 7 liquidation analysis and a Chapter 11 reorganization plan, and how each affects recovery rates for different creditor classes.
- Houlihan Lokey is the top restructuring advisor globally. How would you estimate the enterprise value of a distressed company with negative EBITDA and significant contingent liabilities?
- Explain how you would build a 409A valuation for a pre-revenue startup. What are the key methods and assumptions?
- A leveraged buyout target has a complex capital structure with first lien, second lien, and unsecured notes. Walk me through how you would model the sources and uses and the returns to each tranche in a downside scenario.
- How do Section 363 asset sales differ from plan-based sales in bankruptcy, and when would an advisor recommend one over the other?
Behavioral Questions
- Houlihan Lokey has three distinct business segments: Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory. Which interests you most and why?
- Describe a time when you had to quickly become an expert on a complex topic. How did you approach the learning curve?
- Our restructuring practice often requires working with distressed clients under extreme time pressure. Tell me about a time you performed well under a tight deadline with significant stakes.
- Why Houlihan Lokey over a bulge bracket bank where you would see larger deal sizes?
- Tell me about a time when you had to deliver a difficult message or recommendation to someone who was resistant to hearing it.
Fit Questions
- Where do you see yourself in five years?
- Tell me about a time you worked on a team.
- Describe a time you failed.
- How do you handle pressure?
- What questions do you have for me?
Tips for Houlihan Lokey Interviews
- Houlihan Lokey's interview process places significant weight on restructuring and valuation knowledge, even if you are applying to the Corporate Finance group. Be prepared to discuss distressed scenarios and recovery analysis.
- Understand the distinction between Houlihan's three business lines and be specific about which group you are targeting. Generic answers about 'wanting to do banking' will not resonate.
- Study Houlihan's league table dominance in restructuring (number one globally for over a decade) and their growing M&A advisory practice. Reference specific transactions to show you have done your research.
- The culture is analytical and meritocratic. Interviewers value candidates who can think through problems methodically rather than those who rely on polished presentation skills alone.
- Be prepared for technical questions about valuation methodologies beyond DCF, including comparable transactions, precedent premiums, and fairness opinion standards.