I applied through an employee referral. The process took 2 months. I interviewed at Morgan Stanley (Boston, MA) in Feb 2009
Interview
7 days everything from general interview to math test, psychological testing, product test, lunch and dinner to see if I had the right skills to ask people about goals, money and investing.
I applied through university. The process took 1+ week. I interviewed at Morgan Stanley (Chicago, IL) in May 2010
Interview
I started as an intern and had to make 100 dials a day (successfully) to be considered for a junior broker position. The interview was more casual as I got to know the managing partners at the firm during my internship.