I worked at Microsoft full-time (More than 5 years)
Company heading in a great direction, benefits are great also.
part of a very big machine, sometimes certain issues take a while to be resolved.
I applied online. The process took 2 days. I interviewed at Microsoft (Reading, England) in November 2012.
Graduate programme uses assessment centre approach, with very little weighting on technical interview. Several observed group activities, including providing product recommendations, creating a "promotional video message". Leads into individual interviews, including behavioural, and very very mild technical (basic Fizz-Buzz style questions). Eventual wait for confirmation/offer is then several weeks after. Expect delays.