I applied through a recruiter. The process took 2 weeks. I interviewed at Meta
Interview
I applied online for the Rotational PM role (new grad) and received a response rather quickly. There was a brief HR screen then I was invited for a phone interview from a full-time former RPM. Very casual chat and they asked a lot of clarifying questions for my design. The program is very selective so they seem to be looking for exceptional clarity and thoughtful design.
I applied through an employee referral. The process took 4 weeks. I interviewed at Meta (Menlo Park, CA)
Interview
This was for the Rotational Product Manager Position:
I applied through a company referral which really helps your application if you can get someone. Also Facebook employees who refer a new hire are compensated if you end up getting the job ($5000 for RPMs). So reach out to friends you have who work here.
For RPMs Facebook is looking for how you think about problems. Most RPM hires are right out of college and don't have any product management experience so don't feel overwhelmed. You just need to very clearly communicate how you break down problems and why you are a good fit for Facebook's mission.
Facebook recruiters are very clear beforehand about the questions to allow you to prepare. Use this time to prepare! They expect very specific personal experiences which is why they let you in early on what questions will be asked. You won't be surprised by questions in any of the interviews if you have already thought through what you want to communicate.
Phone Interviews:
1. Product Sense - Talked about an app that I like and design decisions I thought made the app special. Also was asked about one of my side projects and explained a design decision I made. I would stress in this interview that you are empathetic about user needs. That seems to be what they are looking for
2. Execution - Was asked a bunch of hypothetical questions "How would you double group joins in 3mo if we gave you a team of 5 engineers." Stress here that you are data driven, use cohort analysis and break users up to prioritize different strategies.
On Campus Interviews:
(These interview orders vary by candidate so the exact order may be different)
1. Execution - You will be asked how you get things done when you don't have ample resources. You'll be asked to solve a problem you don't understand. Hint: Ask clarifying questions! Show that you are a doer and understand how to prioritize multiple approaches.
2. Leadership - What they really want to see here is how you interact with people. You should talk about a time when you inspired a group to do something. You should think through how you would handle all types of conflicts.
3. Product Sense - This interview has the most variation across candidates. You will definitely be asked about a product you like similar to your phone interview. Beyond that the interviewer might ask you anything from a hypothetical feature question to a very specific design scenario they ended up in through their position. Try to stress here that you are empathetic toward users, and aren't afraid to admit when you don't know something.
Interview questions [1]
Question 1
How would you deal with someone who fundamentally disagreed with what you told them to do.
I applied online. The process took 2 weeks. I interviewed at Meta (Menlo Park, CA) in May 2014
Interview
I had a phone interview with a recruiter who didn't seem to be very interested in me. They were rushing me off the phone, and it felt very much like I had been talking to a telemarketer.
I had two of phone interviews with two PMs. They were very friendly people, but it did seem like they kept trying to summarize my answers for me (mansplaining anyone?). One of them tried to "grade" an answer on the spot, saying I got all the answers right except one item....and it turns out I did say that. Perhaps he didn't hear me, and I didn't want to correct him (I was already being mansplained to death).
Not sure I am convinced FB is doing much to increase or help diversity on their end, judging from this interview process.
You should study the questions here on Glassdoor. Many of the questions here are what was asked of me on my phone interviews.