After interviewing one-on-one with the recruiting firm for this position, a month later I was emailed by the internal HR representative for an interview that same week. The interview consisted of fit and case questions with the HR rep and another research associate. The fit questions were standard "why Bernstein? Why equity research? What are your best/worst qualities. The case questions were basic market sizing (e.g. "how many x widgets were sold in the US in 2008?").

Got called in after submitting resume online. First had interview screening, then called back for several interviews with senior management. Mainly trying to assess commitment to equity research and general ability to tackle basic financial concepts.