Are you returning a machine integer (long or otherwise)? Precompute them and use a freaking lookup table. The sequence grows so fast you'll never see more than maybe 60 or so terms.
Are you returning an arbitrary-size bignum? Use the closed-form solution based on powers of the golden ratio. It still runs in non-constant time (bignum math isn't free), but will run much faster than pointlessly enumerating the sequence up to that point.
Of course, I would be surprised if anyone asking about Fibonacci numbers in an interview has ever been looking for one of those answers. Usually it's a "FizzBuzz for recursion" question.