I applied through an employee referral. The process took 3+ months. I interviewed at UBS in Jan 2007
Interview
It was long and drawn out. Took three months just to schedule a follow-up with the hiring manager. After that, it was weeks to reschedule after the hiring manager got called away on a trip. Once i did get the offer, they had problems actually getting me paperwork, so that took another week. Negotiation took another week or so, but by then I just wanted to get started.