Had initial phone interview with recruiter, who then passed my information to the team for review. She called me back the next week to schedule an in person interview with two managers from the team. The next week, I was called back for a third interview, this time with several team members and I was required to facilitate a presentation for them.
In the end, they ended up going with an internal candidate for the job, but asked if they could contact me the next time they had an opening on the team (which they did, a couple of months later but I had already found something else). That being said, I had a very positive experience with this team, the recruitr, and this organization overall during my interview process. I would have definitely persued it had I not already found something else.
Advice: If you are trying to come in at anything other than the entry level stage, it may be a long and grueling process for you. But if they like you (and you really want to work for them), stick with it! They are not joking when they tell you they will contact you back when they have another opening.