I also believe that the old boys network, though somewhat diminished, is alive and well. There are many jobs which are not advertised. Particularly those which are not advertised externally, this happens a lot in large organisations, do not always go to the strongest candidate. Hopefully this too will continue to diminish but in my experience it is far from a historical happening.
Yep - still existing ... albeit was the professional network rather than old school boys ... which is why hubby walked into his new job 4 days after being retrenched.
Very much who you know rather than what after a few years in the workforce
As for the "property versus private school" ... if you, as a parent invest wisely, why not both? I know we will be doing such - with all 4 kids if they want it