I know it's an important part of the application and the only chance to present your personality. But, how are cover letters actually rated at M/B/B? Is it a standardized process and multiple people give it a score (from one to 10 let's say) or is it more like someone looks at your letter once and makes a binary decision (good enough/not good enough let's say)?
I assume it's a mix of both but I'd be curious to hear from the people who know exactly how the process works in reality.