I was definitely competing with entry-level kids who had just graduated, even those who had just graduated from the boot camps we provided. And I was hired with no college degree, no certifications, and nothing relevant on my résumé since 1999. So yeah, I got minimum-wage treatment.
It was a fantastic, cushy WFH job. The parameters were ideal for my style. The supervisors were very, very patient and encouraging. I was a rock star, if I do say so myself, but there were plenty of competent colleagues who had plenty to contribute in the same role as me.
Eventually I earned 3 certifications and a college completion certificate, and that made zero difference. No raises, no promotions, no acknowledgements of my achievements from my employer.
So, college isn't all it's cracked up to be. Yes, seniors are competing with juniors and entry-levels. It's fierce. Be the best and do your best, and don't be reluctant to settle for a good employer.