Let's face it we are here because it is hard to get in and it's world renown. you are are right to say that the teaching is standard but the resources is massive: sometimes too much!! the thing with LSE is that it is independent and employers know that. So if you manage to get a first then u can do pretty much anything. That is why LSE grads are highest paid not because we were taught by the best but because our exams are rediculously hard and if you can get good grades then you are the best.
... and the ones that won't