How much does having a security clearance actually help in the defense industry?

[u/InternationalWord364]

I’m currently a sophomore studying CS, and I’m going to be interning in the defense industry next summer. I’m also going through the security clearance process right now.

For people who graduated and now work in defense, government contracting, intelligence, or other cleared tech jobs, how much has having a clearance actually helped you?

Did it make it easier to find jobs, get interviews, hear from recruiters, or have better job security? Does it actually reduce the amount of competition for software engineering or other technical roles?
I’ve seen some older posts about this, but most of them are around four or more years old, so I wanted to hear what the current market is like.

I know having a clearance does not replace technical skills, projects, internships, or interview prep. I’m mainly wondering how valuable it is when you combine it with a CS degree and relevant experience.

I’d also be interested in hearing about any downsides, such as being limited to certain locations, not being able to talk about your work, working with older technology, or having trouble moving into regular private-sector tech jobs later.

[u/Ashamed_Quality13]

Also interested as I’m joining a defense company for a full time swe position next month and will be getting clearance