I applied through my University. Interview process consisted of a pre-screen phone interview (~20-30 minutes) and on campus interviews (2 30-minute interviews back to back).
Decision takes roughly 2-3 weeks after that to find out if you are offered the position.
The interviews are mostly behavioral; they have a set list of questions (tell me about a time when you had to work in a group; tell me about a time when you struggled to meet a deadline, etc.). A few technical questions talking about things like internal rate of return, cost structure, profit/gross margins.