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the other thing to note about a more reputable school is access to the alumni network. i.e., even after your first job, it can at least get your foot in the door (i.e. get you past the resume screen), at which point, its up to you.
as an example, for every job that i've gotten since undergrad, my alumni network from either undergrad or graduate school has played some role in it (at least passing my resume to someone, or giving me a heads up about an upcoming opportunity).
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go bears
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