Generally in the world of bug bounty programs, the signal-to-noise ratio (SNR) is around 10-20%.

Even at this low rate, it is not too bad. Let's say you receive 10 reports. You can relatively quickly identify the 8-9 noisy reports to find the 1-2 valid ones. Of course, a higher SNR is always better. It saves you time and effort.

On HackerOne, the average SNR across all programs is over 30%. The platform can automatically filter out certain reports that are duplicates or out of scope.

The platform maintains an average signal rating for each hacker (aka security researcher). Companies can limit access to their programs to hackers with a certain signal or higher. This will significantly increase SNR for the program.

Companies can also opt for a HackerOne program with triage included, in which case the SNR rises close to 100%.