1. Your assumption that all 2:1 degree holders 'sleep with 10 girls' (seriously?) and 'get wasted' is ridiculous. That extra time they could have used to get a first was most likely put towards developing their skills via extra curriculars and leadership positions. Maybe, they actually have stronger interpersonal skills than the supposed 'Almighty First Class Graduate'? You know skills that are actually valued in a workplace
2. It differentiates those on the course. Some prefer to invest more time in academia, others may not. The first class classification will help undeniably if you wanted to stay in academia but in the industrial world, other skills are of more value
3. In your opinion, you want a job handed to you and a pat on the back from someone out there because you can put the phrase '1st class honours' on your CV.
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