Does the participation in student competitions (robotics, programming, expos, etc.) enhance the students' performance and gives them better opportunities in the job market?

I have mentored many groups of students in local, regional, and international competitions, mainly programming competitions. I feel that these events help students in pushing their borders and working on bettering themselves by going the extra mile. Most students were "transformed" after their participation. They "matured". They were also exposed to the "outside world" and interacted with other students from different backgrounds. Some students got jobs because of their participation in such events.

On the other hand, participation in such competitions overloaded the students with tons of extra work. And sometimes this caused harm to their academic performance.

I want to know your opinion about this issue.

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