Any insights how HMs consolidate feedback across multiple rounds and make decisions on candidates evenly?

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There is not a universal process. Based on my experience there is round table or meeting of some kind with all interviewers. Each can provide their feedback and then vote yes , maybe or no on hire (which can be captured in some system right after interviews as well). HM can make a call based on votes.

If the interviews are sequential then ideally you should not be moving on as soon as someone says no. If they are looking at multiple candidates for the same role , and you get two candidates with same votes, then HM can determine who to go with.

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Feel that. Reached two final interviews in the past 3 months. Both recruiters told me I preformed well but they had an internal candidate 😭

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