I applied through university. The process took 1 day. I interviewed at PML (Plymouth, England) in Apr 2009
Interview
First you get a very simple coding test. By simple I mean "really simple". If you have passed CS101 you can do it. If not sure in your skills - just read on simple algorithms before the interview.
Second you get interviewed by a panel. It is very informal and they ask you questions based on your CV. They are really jolly chaps, so do not sweat. Keep eye contact, make a joke or two. They will not press you.