Ducera Partners and Houlihan Lokey are both restructuring-focused advisory firms. HL scores 4 out of 5 for prestige, compensation, and exits with a 5 out of 5 for training, while Ducera scores 4, 5, 4, and 4 respectively. HL is the world's number one restructuring advisor by deal count with 100-120 analysts. Ducera is a newer, smaller boutique with 10-15 analysts founded by former Lazard and Perella Weinberg restructuring bankers. HL's broader platform includes financial advisory and valuations alongside RX. Ducera is more exclusively RX-focused. Both have demanding work environments.
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Head-to-Head Comparison
Ducera Partners vs Houlihan Lokey (2026)
Ducera Partners
Elite Boutique
Houlihan Lokey
Middle MarketSide-by-Side Comparison
DuceraMetricHL
Elite BoutiqueTierMiddle Market
4/5Prestige4/5
5/5Compensation4/5
4/5Training Program5/5
4/5Exit Opportunities4/5
2/5Work-Life Balance2/5
$163000-188000AN1 Total Comp$$194K-$232K
very challengingInterview Difficultychallenging
2 roundsInterview Rounds2 rounds
~3-5%Acceptance Rate~3-4%
10-15Analyst Class Size100-120
Restructuring, Special Situations, M&A AdvisoryTop GroupsRestructuring, Corporate Finance, Financial Advisory Services
Culture Comparison
DuceraHL
Prestige
Compensation
Training Program
Exit Opportunities
Work-Life Balance
The Verdict
Choose Houlihan Lokey for its unmatched restructuring deal volume, better training, and larger platform with more career development resources. HL's industry-leading RX deal count provides more hands-on experience. Choose Ducera if you want the most intimate restructuring apprenticeship with direct partner exposure on every deal. HL is the safer and more comprehensive choice for RX careers.
Frequently Asked Questions
Which does more restructuring deals?
Houlihan Lokey does dramatically more restructuring deals as the global leader by transaction count. Ducera works on select mandates with its tiny team. For volume of RX experience, HL is unmatched.
Which has better training?
HL at 5 out of 5 versus Ducera at 4 out of 5. HL's larger platform and decades of RX leadership produce the most comprehensive restructuring training in the industry.
Which pays more?
Ducera scores 5 out of 5 for compensation versus HL's 4 out of 5. Ducera's elite boutique positioning supports top-of-market pay despite its smaller size.
