The bad side of the job search

1. It is a lot of work. Each application I send out takes up to one hour to be ready. It consists of e-mail, cover letter, CV and additional documents. All bundled up in a pretty PDF document. I try to tailor the applications to each firm, as the fit varies from company to company. Templates work only in a limited sense.
2. The wait. You have to keep up with the applications you sent out, give follow up calls or send follow up e-mails. Keep track of what worked and what didn't. Find the balance between showing interest and being annoying.
3. Being turned down. You know you want to work for the company in the position you applied for, or in a similar position. You are sure you can adapt and learn quick to cover for the fields where you could improve to be a better fit for the company. But you cannot always get that across with a set of documents and you get rejected.

At least some companies are polite enough to send you an e-mail giving you their final decision in clear words, like the example below. Others just don't bother. Others, like McKinsey, go the the extra step and give you a personalized feedback, provided you ask for it.
But, in the end, you have to get used to receiving e-mails like the following:

Dear Mr. Bresslau,

Thank you for your letter of application of 14th May.

We are pleased that you are interested in working with us. Your excellent background would certainly benefit many employers.

Although your credentials are definitely impressive, they do not specifically meet our current needs.

We will however keep your CV for future reference.

Thank you once again for your interest and we wish you the best of luck in your employment search.

With best regards,