I beg to differ.Everyone has different preferences.I have friends who say they prefer fresh grads.I have friends who prefer paper qualifications.I even have friends who rather take someone who's very involved in societies during their study days than a degree holder.Its all depends on the person who's interviewing you.

My friend only asks 3 questions,Blood type,number of siblings, and what kind of sports activities he/she plays.He won't tell me why,but he says this 3 is enough to find out the person behaviour and attitude.He doesn't care about studies and things.Mind you,its an MNC.