I applied online. The process took 1 day. I interviewed at Morningstar (Chicago, IL) in Mar 2011
Interview
First spoke to HR Recruiter 1:1. Asked the usual fit questions, pored through my resume.
Then spoke to two analyst (group interview). Also pored through my resume. Asked me about my stock portfolio. Extensive discussion about stock choices, the markets, equity questions related to growth, comparisons, etc. I found this very fun. If you are vying for an equity position and you don't own equity, you will be so screwed.
Interview questions [1]
Question 1
If I gave you $XXX, what would you invest in right now ... and why.