First interview with HR, then the online test, and then a 48-hour case study in which you need to complete a very comprehensive Excel RE model. You also need to create a deck with a Word memo, and you will have another interview with senior associates on the team. Then, you will be ghosted by the whole team, without being informed of the outcome—an outcome you definitely deserve to receive after all the hours and effort you put into the process, especially given the small size of the AUM this firm has. Do NOT recommend applying, or at least do not put a lot of effort into it.