Two 30 minute phone screens, and then a take home project to create a predictive model of 311 calls based on weather. I was told that people typically spend 4 to 6 hours on the project and that most applicants are brought in for an interview.
The dataset was several GB, rather messy so it was clear that the 4-6 hours to download, clean, understand the data and create a predictive model was going to lead to something rather rudimentary.
I ended up spending about double that amount of time on the model, my solution wasn't perfect, but it had the basics - data cleaning, basic data exploration, test/train split, out of sample validation. It certainly seemed reasonable given the time parameters that were suggested.
Nevertheless, I did not get invited for an onsite. After I spoke with my recruiter about the process, I found found out that the Point72 recruiter was quite new to the company, and the expectations were much higher than was initially conveyed to me.
Large take home projects are very unfair to candidates since they require a substantial time investment on the part of the candidate, and very little on the part of the firm. If I had known the time commitment expected, I would have declined the take home project.