I applied online and was invited couple of days later for an interview. I was interviewed by an Associate and an Executive Director, 30min each. The interview started as usually with questions regarding my CV and background etc... The other questions concentrated mostly on the basic concepts in Accounting and Valuation. Also, I had to walk the interviewer through the financial crisis. All in all, it was a rather relaxed interview process.

Applied online and got invited for a phone interview a few days later. Phone interview started with a short introduction and basic questions regarding why M&A, basic accounting questions, valuation methodologies, etc. Other questions were random, based on what you have answered in previous questions or based on your resume. So make sure you know what you have written in your CV.