How does the group placement process work?

Can anyone share what they know about how group placement works? I know in the Spring, you go up for a sell day and that you should be networking beforehand so that you can increase the chances of getting your top choices.

I'm curious about how the ranking process works. How many groups do I rank from (all of them or like a top 5)? How likely am I to get my top choice? Are certain banks known to place you in your top choice more than others? Do you have to submit a resume/application to your groups...what are these guys looking for?

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