I got referred to a specific team at Microsoft as New Grad hiring was halted for 2016. Talked to a manager on the phone for an hour, and was asked about my resume and did a interview question. Was flown to Seattle 2 weeks later and had an onsite interview with the team at Redmond. It consisted of 5 interviews with coding and culture-fit questions. I was at the Microsoft Campus from 9AM to 4:30PM. The process was nice, and the interviews were more conversational than say Google onsite interviews. I got a call 2 days later with an offer to join the team.
Microsoft enjoyed asking data structure questions with arrays, linked lists, strings, etc. Questions on graphs are said to be rare. Be prepared to answer any design questions, which may be follow up questions to coding questions.