I'm fine with tests, but only if companies pay a standard fee (say, $100) for a dev's time. If a company doesn't respect your time during the interview process, it probably won't while you're on the job.
replies(2):
$100 is insultingly low for a 4 hour assignment.
If we assume 15 days off that leaves roughly 245 workdays per year and with a salary of $200k that would be close to $800.
A fair amount of compensation to spend half a weekend on a project would be $400.