Hi Mid Favila,
I feel the pain! I understand the rage.
I know you may not be asking for answers, but I might "answer" them. These are my opinions.
Short answer, companies think that they can get someone who is "above perfect" and will "hit the ground running" and not be a burden and "increase the metrics" and all that junk.
They do not see reality!
We ALL start somewhere, no one is born with the knowledge. They know it, but refuse to put out a job req that is appropriate. It is a stupid game.
Tailor your resume with a few keywords that match the keywords in the job post. Never lie. Much.
If you can make up your knowledge gap in 1-2 months, and keep it under wraps as you do so, claim you know it, but maybe hedge the bet by reiterating your experience level. I think that is acceptable. I've done it, it worked. It's a grey area to be sure.
As a new grad or intern, i would showcase the tech skills you are gaining or have, how they apply to job, and show drive, youth, enthusiasm, etc... and "thinking out of the box" and adaptability/creativity. People assume youth brings those things, and people assume age brings wisdom and stability. Honestly none are 100% true, but it can help to use this stereotype as a lever if needed.
My first job out of school took me 7 months to get. It was during the great recession. They too posted an unrealistic job ad. I applied to dozens of jobs, and finally got that one. Yes, I did take the first job that was sent my way, which was a mistake for me. Take a job that aligns with what you want to do in 5 years. Unless money is needed now, then take whatever but then be ready to bail later. When younger, people do expect and anticipate a job switch. As you age people expect the reverse. It's a bummer. I am old enough people do not want to see my resume jumping a job here and there every 5 years. IDK.
As for internships that do not pay, tell them to go screw. You should not work free! Your time is valuable. We have 2 interns now, both get paid double minimum wage and work for it.
I did an internship and got paid when I was in college. If all Interns succumb to the idea they do not need pay, guess what, the system will adapt and take advantage. Keep looking. There are other jobs. Employers want to not pay, yet have money to pay you with. If they do not have money to pay you for 4 months at lower wages, then they are a bad company that is not a good one to learn from.
And as for needing / wanting multi-disciplinary skills, they just want to know if you can understand techno-babble from some other people or go screaming away. Just let them know you have friends who are electrical, mechanical, physics, and all do study together or some jazz that makes them think you won't run away when someone starts talking about biasing a bipolar junction transistor into linear region. Let them know you are open minded and not afraid to learn new things. And as for the post-secondary requirement, they just want as much as they can get for little money. Employers know that if you did a masters, then you have big bills, and will take the job if offered. Similar for bachelors degree. But more so for masters. Later in life, that differential is lessened for the employer. Later in life, they want a masters degree person for the tech skills. So I would say that at the start a masters student will be more prone to being underemployed than a bachelors student. But time lessens those.
Just land in interview face to face if possible, and make them comfortable with you. Then you are on the way. Later after a few years of experience, this hurdle is smaller.
In the end, all they need is an adaptable hard working intelligent person who is a constant learner, and has passion. They know it, we know it, it is a stupid mind game.
I believe this game came about because there are employees out there who are very bad candidates and employers have gotten burned too much after hiring them. I have worked with a few people whom I wonder how tie their own shoes. Yet they are above my pay range. If they can do it, we all can. It is like fishing, keep trying.
What grinds my gears is UV burn to my eyes. I did that by accident at home with a UV lamp used for curing glue. Shoulda worn the goggles...