I friend of mine was hiring for a position. He received over 50 resumes to consider, and that was AFTER the HR Department whittled them down to who was "acceptable" to consider. He said he heard the number of people who applied was in the hundreds.
Of the 50, he kicked it down to about 12, and submitted them HR for another review. They handed him back his top 12 to consider for phone and Skype interviews before an in-person interview process for the Top 3, but also gave him another 2 names that he "should also consider." Both had only undergraduate degrees, and one was in Feminist Black Studies. Every other of the Top 12 candidate had at least one Masters Degree. Every one.
He played HRs game, and then ultimately picked the most qualified. He said he was waiting for them to push their quota candidates again, but they backed off.