I applied through college or university. The process took 2 days. I interviewed at IBM (Raleigh, NC) in Mar 2011
Interview
Not stressfull, but very technical. Algorithms and programming questions via phone are difficult to answer, but it is doable. Work culture is very relaxed, but performance is judged by code and solution quality. Code doesn't get reviewed thoroughly however. This is a key thing that makes you a better programmer. In my opinion IBM is far easier to get in at the interview then say Amazon, but depending on the unit you may be quickly recycled out the door if you don't perform.
Interview questions [1]
Question 1
If you have a random string of characters and a message, how can you tell that the random string contains enough characters to construct a copy of that message.