I applied online. The process took 1 day. I interviewed at Goldman Sachs in Oct 2009
Interview
Very friendly, interviewer seemed genuinely interested in hearing about my background and interest in GS. I She did ask me a couple of brain teasers towards the end which caught me a bit off guard but I guess that's part of the game. Overall the whole experience made me appreciate and respect the company even more.
Elaborative, long, very situation-based and case-based. Ask random questions to test your mental ability and presence of mind. However, they were very kind and patient with your answers. Always write a thank-you email.
Interview questions [1]
Question 1
Tell about a time when you helped you team lead solve an issue that he was having difficulty in? How did you manage the dynamics after that?
Very technical interview that asked about equity valuations, how to calculate discounted cash flows, weighted average cost of capital, enterprise value, and what is happening in the financial markets. It was a great experience overall.
7+ rounds - with 2 different people in each round, motivational / competency questions + some market related and technical questions. varies by role but you need to really understand "Why GS"