The process works like this:
1st stage: Initial CV sift - CVs sent directly or from agencies. Some agencies have a better success rate than others.
2nd stage :Telephone interview - this will be with one of the project managers after their normal day's work or taking time off during it. A lot of candidates fall at this stage - how can you seriously put yourself forward to a PPM consultancy if you've never delivered anything, don't know one end of a plan from another, and can't articulate what value you'd bring to a client?
3rd stage: On-site interviews with HR and at least one Managing Consultant. As covered by other posters.
4th stage: On-site interview with the the Director of EMEA or in some cases a delegate.
So, what about the comments on meaningless interviews? I can't give an authoritative view but here are three observations:
Firstly, there certainly are roles. Since the PMs have to give up either billable work or their own time to conduct the interviews, it would make no sense to hold them where there are no positions to fill. In the past few months people have been recruited to roles from L2 (junior PM, someone who would work as part of a team or in a PSO role) to L7 (Managing Consultant). Compensation is similar to the TopConsultant figures for Project Management Consultancies.
Secondly, the recession has upset normal patterns. During the past year, there have been 2 periods I'm aware of where the bench grew to the point where recruitment practically stopped although there have been no redundancies and right now there is zero bench outside of France. Also in the current climate the pace of recruitment is definitely slower and it seems people are being brought in to specific growing sectors , so they need specific types of experience alongside good traditional PM skills.
Thirdly our HR dept is sadly neither the glory of the company nor the envy of the industry, so I would have little confidence in how well they handled the feedback either to the good candidates who lacked the specific skills the opportunity needed, or to the inept characters who couldn't manage their way out of a paper bag.