I applied through college or university. The process took 4 weeks. I interviewed at Microsoft
Interview
Screening:
1 phone interview/ 1 in person interview
Main:
3-4 interviews depending on your performance
The process is fast, the best part is they tell you the result on the same day
I applied online. The process took 6 weeks. I interviewed at Microsoft (Copenhague, Hovedstaden) in Apr 2013
Interview
Apply via their website. If you are a match, they forward you a word document with 2 pages of questions about your previous experience and 4 different programming exercises where you are to do two of them. If your response is accepted, you get a phone interview where you do a programming exercise live while discussing with the interviewer.
If you make it through this gate, you are brought in for a half day of interviews (in my case 5) with different whiteboard programming exercises and cultural interviews.