How many rounds at MF?
How many total interview rounds are there are MFs? Do you typically speak to MDs after case studies?
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At mega funds (MFs), the interview process typically involves multiple rounds, and the structure can vary depending on the firm. Here's a breakdown based on the most helpful WSO content:
Number of Rounds:
Speaking to MDs:
Final Rounds:
Let me know if you'd like more details on any specific part of the process!
Sources: Q&A: 2nd year BA/A/AC at MBB going to UMM/MF in 2020, What are hedge funds interviews like?, Q&A: 3rd year analyst at a boutique PE fund in the SEA region, Q&A: 2nd year BA/A/AC at MBB going to UMM/MF in 2020
There is no standard. Every firm is unique and often varies even within a firm.
Generally, you start by meeting moreso mid-levels at the firm then expand up and down (to Principals/MDs and often Associates to learn more about culture/lifestyle) once you've moved your way through technicals (case study, modeling test, etc.).
There is no set process, but given PE is inherently committee/consensus-driven, firms usually try to get input from a broad swath of individuals on the team, so I'd usually expect at least one superday in there to maximize efficiency for the team.
I see. This is very helpful thanks. I guess I won’t know how deep into the process I truly am then lol
Lean on the recruiter here. They will know the firm's general process flow.
Know someone did 15+ rounds during an offcycle process for a MF. It sounds like a lot but after the big case study round the rest were really just meeting with the seniors for vibe checks as opposed to real interviews
That’s a lot wow. Do you know over what period of time this was?
10+ interviews is quite common, as well as a modelling test and commercial case study or a meaty 4h case combining both.
If you are really lucky you get a 48h take home case study.
I see. So case studies are fairly early on then?
The modelling/technical test is the first test as is very easy to correct/administer and very clear which candidates just suck. The case study/commercial part is later on and usually assessed by VP/Principals.
Personally had 12 rounds over the course of 2.5 months for an off-cycle MF lateral hire. Case round was my 3rd interview, followed by a bunch of vibe checks by more senior people.
Good info thanks. Honestly a lot more individual interviews than I expected to hear, good to know.
Personally, my MD had me do 9 rounds, and the last 3 were in the stink portal.
stink portal?
I had 10 recently, most mid level and senior folks
Can I ask how long in between interviews would HR usually take to communicate?
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