I was impressed by how smoothly the interview process went. HR was on the ball with everything and incredibly friendly and helpful. The whole process took about 10 days. You go through an initial phone interview, and then a full day at their office in NYC, where you do two more interviews in person, and one group activity where you are evaluated by a group of people. I expected the phone interview to be the standard one, but it wasn't.
There were a lot of hypothetical questions and scenarios, a lot of questions to understand what you really know about finance (even if you are not a finance major). Do you know what is the difference between a listed and an OTC security? They check to see if you are following the news not only for their company, but also for the whole industry. The questions are very specific, so don't lie if you are unsure of your answer. Be honest and say you don't know. Trust me, they will know if you're making it up.
The full day of interviews in their assessment center was hectic. The whole day was planned from 9am to 5pm. You start off with several short interviews with different managers within the division you are applying for. These were your typical second round interviews, no curveballs, no suprises. Make sure you are well prepared and you should ace this stage. The group activity is very important and the best way to judge the applicants, because it is something you cannot really prepare for and you are truly showing yourself there. We were given a portfolio of investment options to work on and then give a brief presentation on. Again you really can't prepare for this, no matter what. I hear other applicants had to put a lego project together...?
After that you go and tour the offices, have lunch with the higher ups and ask them any questions you might have. Oh and the company pays for your transportation expenses to and from their offices if you are not from the city. So if you are from Miami, they will cover your hotel stay, your airplane tickets, and might even throw in a car for you to take you to the airport after the interview is over so you don't miss your plane!!! They really make sure all the stress is taken out for you so you just concentrate on your interviews.