Where you went to school *shouldn't* matter but definitely in certain circles and professions it does and always will. It's a rather old fashioned mindset which seems to have carried through in a lot of the old elite private schools. In my experience (I went to a private school, as did everyone in my family) there seems to be strong emphasis on tradition in private schools i.e ex students will send their children there and so on, play rugby for the old collegian team etc. There is also the rivalry between schools, like Scotch vs Melbourne Grammar. So it no longer becomes just somewhere you went to school, it's part of your identity.