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The informal job market is very good to use. I got one internship through the cold-call process, but haven't been successful sending out resumes otherwise. Every job since then was a referral - all still involved interviews, but a referral is a nice way to bypass the resume shredder.

Ironically, every company I have worked for has said they get much better candidates/employees through referrals, too. Yet another sign that the "resume and a firm handshake" idea is broken.