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The vast majority of interviews do not result in a hire. (Some of my coworkers have reported giving 20 in a row without a single offer.)

Also, I think your view of the interview pool is somewhat skewed. Most of the candidates I see do not have 3.9s from MIT (BTW, I believe MIT has a 5-point GPA, so it really would be 4.9), and a lot didn't go to Ivy-League universities.

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