I am finishing up my degree at my university within the next 6 months. I've been starting to apply for all sorts of jobs in which I may remotely be interested. For example, there are a lot of jobs I'm interested in at Google. I always make sure I meet the minimum requirements for these jobs, but oftentimes I'm nowhere near the preferred requirements.

What positive and negative side effects can I expect from applying for a lot of jobs within the same company?

Side questions:

When the Google form says they think your work shows them enough about you, i.e. a cover letter is not required, do they mean it? Or do they secretly want a cover letter and they're trying to weed out people who don't submit one?

How long does a Google job posting typically stay up for?

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    Hi and welcome to WP.SE. I did some editing to your question to put the title more in line with the question asked and moved the google-related questions into a foot note, because they're specific to a certain company. Also, your questions as they were will mainly attract opinion-based answeres instead of the fact-based posts, we're looking for. Please feel free to edit some more, if you think, my changes are inappropriate. – CMW Jan 3 '14 at 8:37
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    Your side question is nonsense. If they say "We don't need this", then they don't need it. If you start interpreting statements as not true all communication spirals into a black hole. – user8036 Jan 3 '14 at 8:50
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    workplace.stackexchange.com/a/2237/12796 OP, did you saw this? – Hugo Rocha Jan 3 '14 at 11:12