Why does it take so long for interview to call back?

So I applied to an analyst job with a boutique IB (20-30 ppl). The HR manager emailed me 2 days later to schedule a phone interview with one of the partners. I did well with the interview, and the HR manager emailed me the same day to schedule me another phone interview with the VP. I had the phone interview with the VP, thought it went well, he said that he will talk to the partner, and the HR manager will email me with next steps. Its been 10 days since my interview with the VP. I sent a follow up email 3 days ago, and there was no response form either the VP or the Partner. I am assuming there is a third round of interview, which is in person. How long does it usually take for smaller shops to respond?

 

Yeah I'm pretty frustrated, and sometimes it isn't even in your control. I waited almost 2 and half weeks for an analyst position with another IB, only to hear back that they were going to hire me, but the position got canned due to lack of funding, Grrr.

 

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