I applied through university. The process took 3 weeks. I interviewed at UBS (City of London, England) in Nov 2009
Interview
It was challenging experience as many people were not accepted. At the beginning of the interview day we had numerical test and programming aptitude test. Later only best performers were allowed for interviews with line managers. There were three tasks. First was Group interview (board meeting), later we had direct interview with line manager and finally a presentation on a given topic. All tasks were evaluated by different people. Impression after visiting UBS was downright positive.