Applied online and a recruiter contacted me 2 weeks later, took the verbal and math test online and then got 1 phone interview. The interviewer is an Indian lady and it is tough for me to hear her clearly on the cell phone. She focused on my factor model project and asked me why I chose the factor model. I told her that factor model is better at explaining risky asset's return than CAPM. But she seemed not happy with my answer. I never heard back from HR after the phone interview.