We can give as much lip-service as we want to not caring about pedigree, but the prejudice is always there.
a MBA from an ivy league school carries more weight than a MBA from the university of phoenix.
MBA's are more a function of whether or not you can pay for the program than your undergraduate grades really.
another example is that there is a well known preference inside of google for PHDs from a specific set of schools.
My point is that outside of academia and a few outliers, most employers don't give a lick where you obtained your degree. Sure, some people are charmed by an Ivy league school on your resume. I can bet though that more people are charmed by what you are actually doing than where you went to school.
the point is that the name on the PhD matters. and it does. it doesn't ALWAYS matter. but it does matter.
It's not as bad as it is for MBA, law, or (at the extreme) humanities PhD programs. In those fields, it's not even worth going if you can't get into a top program. Nonetheless, the ranking of the PhD program matters.
What matters more than the ranking of the program is the reputation of the advisor. However, at a no-name grad school, there may not be any reputable advisors in the field he wants to pursue.