What decides Waves for SA R1 interviews

Scheduled my R1 for Moelis today in the first wave. Curious as to how they decide who is in the first wave and second wave of scheduling interviews for Moelis, and how much being in Wave 1 vs Wave 2 helps/hurts your chances when interviewing. 

For reference, I am not from one of Moelis's target schools and do not have a referral. I networked extensively and managed to speak with an MD + several people more senior than the analyst level, totaling roughly 15 coffee chats. My school gets maybe one interview per year at Moelis and around the same for each EB. I was surprised I managed to get into the earlier Wave and wanted to see if that helps my chances or changes any of the dynamics.

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