Step 3: Choose your targets · topic 1 of 3

Pick 10 to 15 target companies

A target list turns "I'm looking for a job" into a plan you can work through. With 10 to 15 companies, you can research each one properly, find the right people and write messages that show you've done the work. That's hard to do for 100.

It also matters because public postings are crowded. Greenhouse's benchmark data shows about 244 applications per job on its platform in 2025, up from 116 in 2022 ^[1]. A short list helps you spend your time on fewer, better approaches.

Score each company on fit, want, signal and access

Make a simple table, in a spreadsheet or on paper, and give each company 0 to 3 points in each column.

Fit means your experience solves a problem they have. Look at their postings, their news and their customers. Can you name the problem in one sentence?

Want means you'd be glad to work there. Think about the mission, the people you've met, how they treat staff, the size and the pace. You don't need to love every detail.

Signal means there are signs they're hiring or growing: open roles, new funding, a new office, a partnership, a product launch, a new leader building a team.

Access means you have a way in: a former colleague, a fellow alum, or a 2nd-degree connection there. Steve Dalton's "2-Hour Job Search" method, taught by career centers such as the University of Toronto's Rotman Commerce, sorts target employers partly on whether you have alumni there ^[2]. When two companies tie, start with the one where you have a way in. A 2nd-degree search filtered to the company tells you in a minute.

Where to find signals

1. Follow each company on LinkedIn and set a job alert for it, so new roles and announcements come to you.
2. Search news for the company name plus words like "expands", "launches", "funding" or "hires".
3. Notice teams with several open roles. Even if none fit you, a growing team often needs more than it has posted.

Check how old a posting is and whether it keeps reappearing. Some postings stay up after the role is filled, or are standing "pipeline" ads. Greenhouse has estimated that roughly 18% to 22% of jobs posted on its platform in a quarter were ghost jobs of this kind ^[3]. Signals like a new leader, funding or a new site are often more reliable than the job board.

Some roles get filled without ever being advertised, often through people who already know the team. You may have heard that 70% or 80% of jobs are never posted. I don't use that number. An article by College Recruiter, a job board, republished by California State University, Fresno's career center, traces it to anecdote and informal surveys rather than rigorous research ^[4]. Nobody knows the real share. What's clear is that knowing people inside helps: one study of nine firms found referred applicants were more likely to be hired ^[5]. Your list tells you where to look for those people, which is the next page.

Don't save your favorites for later

A pattern I see often: people leave their top companies off the list until they feel "ready". Sometimes waiting makes sense, for example while you learn the field or wait for a warm introduction. Often it's fear of wasting the chance. In my experience, the first message to a company you admire is rarely the last chance. Teams change, roles open, people move. A thoughtful message now usually leaves a better impression than a perfect one in six months.

Keep the list alive

Review it every two weeks. Drop companies that have gone quiet or that you've learned don't fit. Add new ones you've heard about in conversations. A living list of 10 to 15 is more useful than a static list of 50.