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Pro
If you don't have a referral in, the odds of getting in on a cold application is very low and always has been. My first job switch I had been rejected, then got a cold call from them to see if I was interested. The difference? Someone I knew ( was one of their clients) mentioned to the hiring Mgr he knew someone who might be interested in the job. It is and always has been who you know. Network before you apply.
It’s that bad. We get thousands of applications for every job we post.