Applied through my university's career website. Sent cover letter to HR team in New York who forwarded it to local University Relations team. In several weeks, received request for on-campus interview. Interviewed with senior vice president, who asked several technical questions about my previous internship experience, then proceeded to discuss lighter topics such as sports and my university (which the SVP also attended). About a week later, received invitation for final interviews in downtown office.
Final interview day began early with a very informal briefing of what to expect with a Campus Recruiting specialist, followed by the actual interviews. Four candidates were brought in that day and each of us was put in a separate room. Four interviewers rotated between all four rooms, one visit from each interviewer to each candidate. My first three interviewers were VPs who asked moderately difficult behavioral questions, but were easy to socialize with, two in particular because they had graduated from the same university as me and knew many of the same people in the industry. The fourth interview was by far the most difficult, as the interviewer was an HR professional (in fact, the person who developed the TRAC program as I understand it) and asked very subjective and abstract questions. I felt that the order of my interviews put me at a disadvantage to the other candidates, because I was the person who was theoretically the most fatigued during my interview with the HR professional. However, I was told that all four of the interviewers would have some say in the decision, and to the best of my knowledge I was the only person who received an offer from that interviewing day.
After the round of interviews, all of the candidates were taken to a conference room to have refreshments and ask questions to current full-time TRAC Associates (This is a two-year rotational and formal training program which is the entry-level job upon completion of an internship). We were advised that this Q&A session would have no bearing on our interview decision, so we were free to ask anything we wanted without fear of consequences. After that session, the Campus Recruiting specialist told us that a decision would be made by the weekend (this interview day had been on a Thursday). I received a call the next day from the Campus Recruiting specialist asking how I thought the interview process went and informing me that I was being extended an offer.