Absolutely. However don't kid yourself, having a degree from a top university doesn't mean much these days. As long as you have at least a 2:1 in a relevant subject with a good CV from a respectable university it's anybodys game. Any employer that looks at nothing more than where you went to university quite frankly isn't worth working for as that is no way to run an organisation.
I know a lot of people that have graduated from top 5 universities in respectable courses and are struggling to find secure employment because they don't have any experience / CV boosting stuff.
Ultimately, work hard (ish :P), get involved in worthwhile activities and get decent work experience. Contrary to popular belief, most employers don't want an arrogant knob head that thinks they are 'it' just because they did their degree at a university with slightly higher requirements.
EDIT: I should add that your personality and first impression that you give goes a long way.