I went through the campus recruiting route and was put in to the early process. The first round consisted of PST and "non-evaluative" group break out. They give feedback on the group breakout so overly poor performance or obnoxious behavior could be a reason some people didn't pass on. Heard that i was being passed onto the second round the same night i took the PST and was assigned a McKinsey Buddy who gave me advice and feedback on how to prepare for the next round. We were also assigned a group case coach to practice with as well as were invited to an interview prep workshop, both of which were helpful. Also McKinsey hosted a dinner event for people going on to the second round to meet more of their consultants from various offices, which was helpful in finalizing my office choices.
Second round was consisted of two 1:1 interviews both including a case and PEI questions. There were no surprises; get ready for public math, thinking out loud, and being asked details about the stories that you are telling. The interviewers were polite and nice. It took almost a week to hear back about whether i was passed on to the third round or not, as well as detailed feedback on what to work on. They said this (one - two week waiting period) depended on which office you were being assigned to and I think this was true because the people who were going to the same final office heard back on the same day.
Two weeks later, I was at the NY office for my final round. This was consisted of three 1:1 interviews. Again, no surprises, polite and engaged interviewers, PEI and Cases for each interview. it's very important to have the right stories to highlight your leadership and teamwork qualities that are also structured and concise. the Cases were much more in depth and varied and long (~40 mins each). I felt that they were looking for high level thinking, creativity, analytic rigor, and insightful synthesis. Difficult to do if you haven't practiced cases but definitely not unreasonable things to look for in a candidate. They offered me a position within hours.
Overall, great process, fun, and transparent. I felt like I was part of the team even before I signed my contract.