1st round with HR - easy. just discuss the role and general questions. recruiter was nice and friendly. 2nd round - complete a 5-hour case study. very difficult. it will certainly weed out anyone who's not qualified to be a senior analyst. first part is they send you a multifamily model from a GP who is seeking an equity partner on a deal. The model has terrible assumptions and errors in it and you have to find them and comment on them. They do guide you, but it's still tough, especially because the model is locked and you can follow formulas. Then you do a write up on it. Next portion - they give you the corrected version and you draft a summary email to the MD's on your thoughts on the deal. Then you draft a summary pitch email to be sent to potential equity partners. Then build a summary excel sheet so you can link it to the model (which is locked...dumb) and quickly change assumptions. Tough to do all of this in the time frame given but just do your best. I didn't finish but the work was quality enough to get to the next round. 3rd round - interviews with MD's. Nothing crazy difficult. They seemed like good guys. Casual too. 4th round - interviews with 2 senior analysts and associate. Definitely trying to be like investment bankers boys club. 3 days later I got a rejection email. No call. Nothin. Salary they said was high 5 digits or low 6-digits plus potential 50% bonus. Would've been a step down on the salary tbh so i probably wouldnt have accepted the offer anyways.