I applied online. The process took 1 week. I interviewed at Morgan Stanley (Budapest) in Nov 2012
Interview
I applied on-line, there was a phone interview with a nice HR-person, then there was a round of online competency tests, then I talked to 2 members of my would-be team, this interview had finance, rather accounting questions. I did not do well on that, so I did not get invited to the two final rounds (one is a Skype-interview with London and the managers in Budapest, the other one is with the team in person).
Interview questions [2]
Question 1
"You get data from a firm, you have to do a report by the afternoon (sic), what do you do?" (You know it has something to do with corporate risk.)