it depends on the field but in commerce it definitely definitely matters heaps.
i was very intimately involved in the hiring for a role during my internship last summer and we had around 100 resumes per role and once we threw out resumes with grammar errors, unprofessional formats, or not suitable for the role, and we still had a few left (youd be surprised how little were left), the next differentiating factor was grades/uni/transcript
i definitely feel like there are 3 tiers for universities in victoria with melb and monash at the top, followed by RMIT and latrobe, then the rest in the bottom.
out of like say 30 applicants left from the original batch, we kept a couple of RMIT people with really good grades and good work experience, and i think 1 latrobe guy with a crazy average and resume, but we chucked out heaps of swinny and vic uni and even la trobe/rmit applicants and shit who had quite good transcripts because there were people with the same grades and achievements at melb/monash. i mean its better to have a person with an 80+ wam from acu than a 60 average from melbourne uni but there are people with wams that high from melbourne too.
once you get to the interview though it doesnt matter unless the person hiring you went to your uni and is really proud of it
however for other fields that are really standardised like psych and shit it doesnt really matter where you go as much
good luck for your future endeavours