I applied through university. The process took 2 weeks. I interviewed at Jefferies (New York, NY) in Feb 2013
Interview
On-campus first round with a VP - asked general fit questions, why equities S&T, tell me about the market, and asked for a stock I would pitch. Very friendly woman and not intimidating at all. Final round in NY office - 3 rounds with two employees each. All asked mostly fit questions, walk me through your resume, etc., and then my final round I was asked to pitch a stock for about 10 minutes or so.
Interview questions [1]
Question 1
How many non-white washing machines are in New York City? (More of a consulting question but they asked anyway - market sizing and thinking process)