Just saw these stats from Stanford. Here are the numbers:

STEP 1 - Initial reach-out: 3,404 STEP 2 - Response: 256 STEP 3 - Positive follow-up: 124 STEP 4 - Management Meetings: 25 STEP 5 - Indication of interest: 16 STEP 6 - LOI sent: 4 STEP 7 - LOI signed: 2

How does this compare to everyone's searches?