Again, I think it depends. My MBA definitely played into my first job after; the process started with an on-campus interview. I doubt the school (or probably even that I had an MBA) made a bit of difference after that but then I was in that job for 13 years and my subsequent jobs weren't even business roles per se. I think the background was useful but it didn't matter from a hiring perspective if I had a degree from X school or not.

In my current job, to the degree my educational pedigree made any difference at all, it was my undergrad because that's where my hiring manager went. However, I'm sure there are many cases where business school networks associated with top schools can be important.