'You don't have the right fit'

In the rejection letters I get (some before even a first round I notice this line or a variant of it as a recurring theme). Or I will get an interview saying "The goal is to determine if you have a good 'fit'". Anybody else undergoing this? Those who are on the other side can you tell me what this actually means?

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“You don’t have the right fit.” = “Our MD just got a call from his golfing buddy’s son about his interest in IB so we’re hiring him instead.”

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