Comment by bachmeier

I'm not CS faculty, but this is similar to the situation in economics. Interview 40. Of those, 20 may end up being acceptable. The eight best of those 20 get offers at better places. Four others take nonacademic jobs. You're left fighting over a pool of eight candidates with a lot more than eight other schools. It was really tough after the recession, when the Fed was hiring a ginormous number of new PhD's.