Constanly Competing with People Who Have Much More Exp. for IB Roles?

I've been casually looking for a few lateral IB opportunities and end up not materializing anything. I learnt many people who have 5+ years experience in Finance or associates in other banks are now competing for 2nd yr analyst roles I was looking at.

Is this normal or more pandemic-driven? The process seemed very relaxing and easy a couple years ago. Would appreciate someone in similar positions share some experience. Thanks.

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