As a Recruiter...
YES! Apply for the job if you have most of the qualifications AND a genuine interest in doing the work. Some of you may cringe at the thought of that, but here are my thoughts...
You have no idea about what conversations are taking place behind the scenes. The hiring team may have decided that they're willing to flex a bit on some of the qualifications and they simply haven't re-posted the position reflecting that.
The current applicant pool might be horrible and they're struggling to fill the role. If you submit a knockout resume, even if you're missing a few of the qualifications, you just might get an interview...which is exactly what you want.
If you are committed to acquiring the missing qualifications, go for it! Check out the countless free courses available online, such as Coursera, to see if you can enroll in a course prior to applying. This will show the hiring team that you're committed to excelling in that role.
Last, but definitely not least, do your research before applying. Check LinkedIn to see if any of your connections can help you get your foot in the door. You'd be surprised just how easy networking can be.
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