Referral -> recruiter screen -> hiring manager interview. I knew the role was a long shot going into it, and it became clear during the hiring manager interview I wasn't senior enough for the role. However, this has been one of the most positive interviewing experiences I've had. Recruiter gave feedback immediately on where she thought I was impressive and pointed out areas I may not be a good fit for. Hiring manager was thoughtful, and repeated back my answers to show she was really listening and considering them. I got a rejection email the next day. Obviously, I wished I could have moved forward, but timely scheduling and rejection is all you can ask for in this case!