Prestige of University or best course

This is true for 95% of employers. However top employers eg Foreign Office and investment banks they do only recruit from top 10 universities for most roles. This is for graduates and this employer will only have someone from the following places. They even lower offer if you went to Oxbridge!!!
http://www.canarywharfjobs.com/cands/jobview.asp?v=1835468&c=&f=SearchPhrase=oxbridge&Sort=Date&SortDir=DESC

Not quite. The FCO recruit from all, but as with many places, have a preference for better places (and better courses). Investment banks only actively recruit from 5 or 6 places, however they accept applications from many. The article you quoted is for a Quant, a very academic position for someone who would already have a PhD in maths or something close to, so it's a very different entrance requirement than the vast majority of IB entrants. IBs look for the best candidates - a brilliant student from Sheffield will stand far more chance than your generic, nothing-special Oxbridge student.

Yes but in the thousands of applications a 2:1 from Oxbridge, LSE, or Imperial to be honest will get a second look over the Sheffield one. I'm not saying that it's right, but don't fool yourselves into thinking that companies don't have a strong preference for certain universities.

Certain companies, many don't give a toss where you got your degree or even what you studied.

Massive yes. But Jean Pierre Garnier isnt getting 100 applicants per place is he? Like investment banks.
Investment banks are very concerned about traditional subjects and top universities. Most companies aren't.

If I was an investment bank I'd be bothered about getting people who can do the job, judging by the fact that there are people from outside of the golden triangle working in IB, I'm guessing they do too.

If I was an investment bank I'd be bothered about getting people who can do the job, judging by the fact that there are people from outside of the golden triangle working in IB, I'm guessing they do too.

Clients like to hear that their bankers went to prestigious universities. Unfortunately that is the reality. And most people who apply to banks from top universities are capable of doing the work, to be honest, so they don't fuss themselves seeking out students from elsewhere. Of course they do look at applications and of course will give someone with excellent academics and work experience from a non-target university a chance.

That is not the only reason. Let's be realistic. Students at better universities have to work harder to get a better overall degree classification.

A degree in Maths from a top 10 isn't exactly the same as one from say Bath Spa or Leeds Metropolitan... The courses at better institutions are usually mre challenging.