I've been told it takes around 4-5 weeks for monetization to click on after you've reached the 4k / 1k threshold. I know things are backed up due to recent changes, but I didn't think it was that long. @TeamYouTube, is this information accurate? My 2nd channel just hit the mark.
You probably hear this a lot, but a month is a long wait. There are some channels who've been monetized before that are stuck in limbo with their main source of income on hold. I'm lucky to not be in that situation, but with a 2nd channel booming I still feel it.