From my belief, prestige plays the part of 'eye-catching' an employers attention when they go through hundreds of applications, that's all there is to it. But from a recent careers fair event i attended, employers favor work experience. But yeah, go ahead and try for Monash or Melb uni, they might help grab the employers attention, but hopefully you can keep up with their workload, because there is no point in grabbing an employers attention if you don't have a proper offering.
But then again, it truly does not really matter what type of uni you go to, take my older sister for example.
She duxed her highschool 99.90 but chose Victoria University, just for the sole reason of it being closer to our home, prestige had no place in her mind, in fact, from what she told me, she said ever since year 11 she wanted to study Nursing at VU (I don't know why). She got good grades, graduated 3 years ago I think, got a grad year straight away and is now working full time. She's also payed off all her HECS and bought land.
From a mainstream VCE student perspective, getting a job straight out of uni, paying HECS off fast and getting a house is what you would think those that graduate from top prestigious universities like Monash or Melbourne Uni are likely achieve. Well that wasn't the case for my sis.
Anyways, even if you don't get into a prestigious university, you can still achieve what they can.
Gonna be friggin hard for me to find a biomedical engineering job in Australia though, sighhh.