A friend referred me to their company's hiring manager and I thought it would at least guarantee an interview but I got an automated rejection within a week. Do referrals actually matter anymore or is that just a myth?

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Highly depends on the company

What about the big 4?

You need a referral let me know but it usually just gives a second look unless you are like a family member or close friend.

I had this happen to someone I referred to another team in my company, and then I referred same person to a role in my exact team a couple of months ago. Turns out they were putting a salary expectation at the top end of the range and we’re definitely not paying that in this market right now. I was only able to find out they were getting filtered out bc it was my actual team hiring.

Referral helps you get noticed—put your resume on top of other non-referral candidates. But it’s up to you to finish the process.

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