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I once heard a recruiter say that people should apply to positions if their qualifications are "in the ballpark" for the job. The reasoning was that job postings are often wish lists of qualifications, and hiring managers don't seriously expect anyone to comprise all the requisite skills. That makes sense to me, I've always assumed that a lot of job postings are on the grandiose side.
I apply for jobs all the time that I am not even remotely qualified for. And I have actually gotten interviews even if I didn't land the role. I say always apply, they may be willing to train the right person.
What’s the harm in applying? Apply to everything. Generally, the only cost is the time it takes you to put together an application packet. If they don’t think you’re qualified, they delete your resume and move on.