Just before graduating I won a competition with Guernsey Photography Festival to produce a new body of work for their 2011 festival. For me was a big confidence boost as I was terrified of going out into the 'real world' as well as being a confirmation that I made the right decision to start being open with the work I was making.
In terms of disappointments, I think rejection comes with the job and I shake them off quite easily, as a lot of the time I'm hoping I don't get selected as I can't afford to get work fabricated.
Having major publications say they are interested in publishing your work, and then the next day saying you're old news, though, was a wake up call...