Up to this point you are only competing with yourself. The job is posted in-house. Referrals are desired. Applications are being accepted. Everyone knows about the job opening.
Competition is massive.
1 in 5 people now change jobs every year. 1 in 10 people change careers or occupations every year. The average person entering the job market can expect almost no security from their employer. Security will have to come almost entirely from the individual and through self-improvement. Every career-oriented person will have to have many educations.