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How companies review your application, and why you don't hear anything back

You found your dream position, poured all your time and energy into an amazing cover letter.. and you hear nothing back at all from the company you applied to. Sure, your CV wasn't a perfect match, but you more than compensate for that - which you all explained in your cover letter. Then why didn't you get a response? Or if you got one, why was a it such an impersonal one, without any feedback?

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