I think once you get into PhD things are a little different. It comes down to what research you did and who you worked with on that research. Also it depends on your goals for the future. Each department is different so it's hard to say whether someone would consider the PhD from NC State equal to say Duke for an equivalent subject matter. But that's why I mentioned networking being so important. Your advisor is very important for job placement or post-doc/faculty positions when you finish a PhD program. Also, it's impossible to say who will end up where in the future which is why it's a good idea to become respected by peers, professors, and co-workers at internships/jobs. To me these things are more important for actually getting to where you want to be in your career. Well that and a little luck and patience with timing.