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Based on the most helpful WSO content, the timing for hearing back after a modeling test at a hedge fund (MMHF or otherwise) can vary depending on the fund's internal processes and the PM's preferences. For example, in one case shared on WSO, a candidate for a fundamental equities shop mentioned that the PM would decide based on the model produced and the fit brought to the table. This suggests that the timeline could depend on how meticulous the PM is and how quickly they review submissions.
While there isn't a universal standard, anecdotal evidence suggests that hedge funds, especially meticulous ones, may take a few days to a week to process and respond after the initial model screen. However, if you're a lateral applicant from the sell-side, the timeline might also depend on how urgently the fund needs to fill the role and the volume of candidates being considered.
If you're concerned about timing, a polite follow-up email after a reasonable period (e.g., a week) could help demonstrate your interest without being overbearing.
Sources: What does a model look like at a L/S hedge fund? What is the diligence process like?, https://www.wallstreetoasis.com/forum/investment-banking/lateral-internally-from-st-ft-to-ibd-ft-bb-tips-story-and-advice?customgpt=1, Random Musings on the HF Interview Process, Analyst Lateral from MM to BB/EB, 2-hour Modeling Test for HF (Fundemental Equities) - What to expect?
Varies based on the team you're applying to. Usually takes about 1/2 weeks.
Heard back next working day for a follow-up call.
Post BD call they share the resume with pod teams and it’s in their hands if they like your profile to invite for further rounds per my understanding
Thanks all - quick update that all checks out, got a call back two business days after to talk to team!
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