Are competitive programmers good for jobs?

Question

Competitive programming is a great skill but it is more about being good at using algorithms fast which is not the most ideal thing for a 9 to 5 job, So, Why are companies preferring competitive programmers?

Answer 1

Competitive programmer thinks faster while solving problems and finding a logical solution. They won't be stuck easily.

Answer 2

Where do you get the info from that they are preferred by companies?