First they will send you the products to test out (these products are not in formal packaging and are usually not available to the public yet, but all products are believed to be safe and they just want to know consumers opinions before placing them on the shelves). After you test the products you will fill out one or more questionnaires about the products and then they will send you your compensation (which can range from one full size product to a package of full size products).
The last job I did for them was a 10 week study in which I tested out 10 BB Creams (one each week) and took a quick 5 minute survey each week. They sent me a prize package (unboxing video and details below) which more than pays for the amount of work I did for them. You can sign up here: https://consumertesting.lorealusa.com/.
Now for the fun, here is my unboxing video with names and prices of all the items underneath.
1.) Essie The Cuticle Pen $9
2.) L'oreal Paris Sublime Sun Sunscreen $9
3.) L'oreal Paris Infallible Never Fail Eyeliner $7
4.) Lancome Genifique Youth Activating Serum $84
5.) Lancome Color Design Sensational Effects Eye Shadow Quad $43
6.) L'oreal Ideal Clean Makeup Removing Towelettes $5.99
7.) Lancome Hypnose Mascara $27
8.) L'oreal True Match Super Blendable Crayon Concealer $9
9.) Kiehl's Creamy Eye Treatment with avocado $25
10.) Essie Sleek Stick Nail Applique $10.25
11.) Lancome Color Design Sensational Effects Lip Color $22
12.) L'oreal Eversleek Precious Oil Treatment $10
13.) L'oreal Eversleek Intense Smoothing Shampoo $5
14.) L'oreal Eversleek Intense Smoothing Conditioner $5
Total Value: $271.24