The importance of academics varies based on what else you have on your CV, and what university you go to (sadly). If your CV is bare thin, then your first year results won't cut it. If you have been to various open days/built up contacts, then you might be in with a shot. This is more applicable to those with mid/high 2.2s.
I know people with low 2.2s who managed VS' at MC firms, but they were aggressive networkers.
I personally got a 2.2 in first year, and still manged to get a few offers.