Does it look bad if you have a First and a (bad) pass Masters?

Assuming you have a First in your UG degree but a bad pass for your Masters PG degree; would this look bad to PhD admissions or general employment? I ask since if one has a First, it would probably still be looked upon favourably, maybe?

I know one needs working experience as well, but lets focus on these two first (i.e. academic performance).

I know one needs working experience as well, but lets focus on these two first (i.e. academic performance).

Apologies for the slight diversion, but I don't think the work exprience is vital - certainly in my Humanities field - although it might be a "nice to have". I went straight through undergrad-Masters-PhD and many of the people I study with have done the same. Whilst I'm self-funding, many of them are working on funded projects and the lack of work experience doesn't seem to have hampered them. I wouldn't get strung up on that aspect at least.