My final thoughts on advertising and design contests (at least for a right now):

Do I think they are good for exposure? Yes.
Hey, every win gets you another 15 minutes of fame. Whether you're a student or professional, I find it hard to fault anyone using every opportunity to stand out from the pack, especially if they are looking for work.

Do I think they're exploitative? Yes.
People know you're out there and hungry for opportunity. I ran across a blog (sorry, can't find the link now), where the writer encouraged people to create contests to get people to design logos and other materials in order to help them launch their businesses. The blogger admits it's a great way to see a huge variety of samples without hiring people to do exploratory work. Then you only have to pay for the work you like with your cash prize. (Talk about taking advantage of the workforce.)

Would I enter a contest? Yes.
It helps to have a healthy attitude about it. I see it as a fun,creative outlet. Since college, I think I've won a small handful ofcreative awards. As a student, they were great conversation startersduring interviews. Once I was 2nd runner-up in a screenwritingcompetition and one of the judges optioned my script. Optioning is whenthey pay for the rights for a period of time for the "option" ofproducing it later (which never happened). So even when I lost, I cameout a winner. Hey, I'm no hypocrite, I've solicited your votes for blog contests in the past. (Speaking of, this blog is entered in the Hive Awards. Winners will be announced Friday, March 12.)

Is it fair for professionals to enter contests? Yes.
Unless there is something in the fine print that states you have to be the contest's definition of an "amateur," it's all fair game. It's just like competing for work in the real world. If you're going to play, play to win and not whine about it if you lose.

For students and those starting out, I think design contests can help you build your book. I would not recommend it as the only method. If it gets you to create work you feel is good enough to be judged, it may be work good enough to help you get a job. When it comes to filling your book with class assignments, it's not always our best work. Admit it. Sometimes we did enough to just get by. If you have any "C" work in your portfolio, take it out now.

I ran across a thought-provoking post on Freelance Switch about professionals entering design contests. Read it and decide what is best for you.

Image courtesy of Stock.xchng.