Copy/paste from the PGY1 thread last year:
Area = SF Bay Area. Employed immediately after PGY1 - July 2013.
Here's my final tally, started sending out applications January 2013.
55 = total applications submitted & CV's delivered via network
10 = total # of interviews/offers for interviews/contact initiated by institution
(phone, in-person, e-mail)
2 = total # of interviews declined prior to interview
8 = in-person/phone interviews
3 = did not get position (assumed if no further contact)
1 = still technically pending
4 = offers tendered
2 = offers declined
2 = offers accepted
Overall yield (interview/contact : total applications) = 18% response rate
Yield from direct networking (5 contacts : 5 interviews) = 100% response rate
Yield from internet only applications (50 applications : 5 interviews) = 10% response rate
Offers tendered resulted from: 3/4 = direct networking; 1/4 = internet application
Other anecdotal notes:
1) All 3 rejections were, in sequence, my first, second, and third interviews.
2) First application was released January 12, actual first contact from an employer or agent was April 26.