QUOTE(corad @ Sep 2 2011, 04:48 PM)
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Guys, university is
only another stepping stone. What use is there of going to UCL and ending up just sticking to your bunch of M'sian friends, streaming videos or emo in your room. What makes the university experience worthwhile is not the rank, but what you achieve there. Join societies, play sports seriously and study smart.
When I did my internship at Airbus, university rank was worthless. We had people from Hertfordshire all the way to MIT and I have to admit I could not tell the difference. Everyone was equally passionate and brilliant.
IMHO the only time uni rank has been useful is during dinner with relatives

And if anyone really wants to be kiasu, just go take those 6 month management courses from Harvard and you can call yourself an alumni

Yes, ultimately what you achieve is what matters - if you graduate from UCL but cannot find a job/something to do/make a living, and someone from City can, then you've really blown it. So what you gain from (and are able to demonstrate) societies/sports/academics matters (not simply joining them and excelling in them).
But the point is, university prestige matters enough for it to not be discounted that quickly. With the current economic climate and job markets, everything is very competitive. A great university still draws attention, and offers more opporunity. People should aim higher, with the knowledge that at the better firms, Oxbridge, UCL, LSE, Imperial, Warwick (and in America the likes of UPenn, Princeton, Harvard, Columbia, Yale, Cornell, Chicago, MIT, Caltech, Stanford, NYU, University of California; in Australia ANU, Melbourne, UNSW, Sydney, Queensland, Monash; in Canada McGill) etc go into one pile, while those from Oxford Brookes, Nottingham Trent, East Anglia, Aberyswyth, Leicester etc get sorted into another. At the very least, holding all other factors constant, those candidates from better (more well known) schools have the advantage.
Like limeuu said an internship is not actual work, even if it is at a large firm. The responsibilities and expectations are different.