Essential versus Desirable Requirements

[ipsg.glf]

A job has caught my eye that I am thinking of applying for.

I meet about 50% of the essential requirements and pretty much all of the desirable requirements. From what I can see of the essential requirements, it should be possible to get a good grounding in them in a very short time.

My question is, therefore, this:

Is it still worth applying for the position in the hope that my other achievements are taken into account?

Does "essential" really mean (courtesy of OED):

essential

• adjective 1 fundamental; central. 2 absolutely necessary.

• noun (essentials) 1 the fundamental elements. 2 things that are absolutely necessary.